The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-02

nstlon-Mr. Bryan's scheme To Throw
the Country Into Fits So That He Can
Try His sixteen TO One Quack Medicine
Evil Effects Of the Free Coinage Agita-
tion Already Manifest.
Hon. Carl Schurz, ex-secretary of the
interior, addressed an immense audience
in Central Music hall. Chicago, on
Sept. 8. Speaking of a possible free sill
yer victory he said:
Consider what the immediate conse-
quences would be if Mr.. Bryan were
elected president. with congress TO
match. Mr. Bryan would Of course be
anxious TO have his free coinage law
enacted, but that could not be, even il
he called an extra session of congress,
until some time in April or May, five or
six months after the day of election.
But az soon as on the 4th Of November
the result of the election was announced
everybody would know that the parity
Of gold and silver would not be main
tanned.
1t having been made certain by Mr..
Bryan's election that the parity Of gold
and silver would not be maintained,
there would be rush upon the treas
ury for the gold in it by persons hold
ing greenbacks entitled TO redemption,
and the gold reserve would be exhaust
ed in twinkling. Gold will instantly
disappear from circulation, TO be hoard
ed or exported. Why will it disappear?
Because every sensible person when
making payment will prefer TO make
it in the less valuable dollar and hold
the more valuable gold dollar back for
more profitable use. Gold will there
fore quickly rise to premium, and we
| shall be ON the silver basis long before
a free coinage law can be enacted. Our
daily transactions in buying and SELL
ing, in paying and receiving wages,
will no longer be carried on upon the
basis Of the gold dollar worth 100 cents,
but of the silver dollar worth 90 cents
or thereabout, for the government will
no longer hold up the silver dollar to
\ the value of the gold dollar.
The quantity Of gold vanishing from
circulation will amount to about $780,
| 900, 000 the disappearance Of which
will make tremendous hole in the
4 volume of our currency. But, says the
i silver man, there will be free silver
coinage to fill the gap promptly with
coined silver or silver certificates. Oh,
no, my fellow sufferers. The disappear
ance Of gold will happen promptly after
the election Of Mr.. Bryan, and there
will not possibly be any free coinage of
silver for at least six months, and it
will require great many more months
to fill gap of 5000, 100000.
What will happen meanwhile? The
st. Louis Globe Democrat reports Mr..
Bryan to have said some time ago: Il
think it--meaning the victory Of the
] free coinage movement-will cause n
/ panic But the country is in a deplor-
\ able condition, and it will take extreme
4 measures to restore it to condition Of
Il prosperity" Whereupon the St Louis
\ paper pointedly remarks, Evidently
\ Mr.. Bryan has heard OF the doctor who
/ always threw his patient into fits before
/ administering any curative medicine. "
/ Just So
How, then, would Mr.. Bryan's eft"
work? The sudden disappearance of our
/ gold from circulation would produce
the most stringent contraction OF the
curI,,ncy OH record. Business men who
owe money and at the same time have
money due them will be forced to col
lect that money by every means at their
disposal. Nobody will be inclined 10
lend ont any money except upon extraor-
binary security. The banks will nat
urally consider it their duty to keep
4 themselves strong, and therefore to call
4 in loans and to restrict their discounts
4 and advances to business men with the
utmost caution. Business establish
Y ments, manufactures, mercantile
houses, unable to get the money for meet
4 ing their obligations, will by the hun
dreds succumb to their embarrassments
| and tumble down like row Of bricks.
Others will cautiously restrict their OPP
erntions TO the narrowest possible limit,
and wage earners by the thousands will
lose their employment and be turned
into the street.
How can foretell these things with
so much assurance Because they have
already cast their shadows before. dc
YOU remember the crisis Of 1898, when
the silver basis was in sight? And
now again the mere apprehension OF
a possibility of DIR. Bryan's election
II and of the consequent slipping of oui
country upon the silver basis has al
ready cmsed untold millions OF oui
securities 10 be thrown upon the
market in Europe as well as here
Scores osIf business orders are already
recalled, a large number of manufac'
turing establishments have already
stopped or restricted their operations
enterprise is already discouraged anC
\ aearly Inralyzed, many works of public
utility by industrial or railroad com
panies have already been ordered OH
thousands of workingmen are alread,
thrown out of employment. gold Is al
ready being boarded. capital is alreac!
being sent ont Of the country to be in
vested in Europe for safety.
\ And why all this? Not, as the silve
men foolishly pretend, because the ex
listing gold standard has made none.
scarce, for capital is lying idle i'll heaps
scores upon scores of millions, fairl!
yearning for safe employment. No
| Ask those concerned why oil this hap
pens, and with ono voice they will tel
| Won it is because they apprehend seriou
danger to every dollar vontured on
through the change Of OR standard o
\ value i'm prospect, through the debase
ment Of uur currency threatened by tn
A free silver coinage movement. And
] these are the effects of mere appre
hension of n possibility, what would b
II tina effect Of the event itself?