The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1896-07-06
Senator Gray Talks.

Out of this political chaos there emerges
at least the voice of President Cleveland's
friend, Senator Gray of Delaware, clear,
calm and definite. 1t was he who presided
at the great council of the gold-standard
men at midnight He alone Of all the
Eastern leaders seems to understand that
the free-silver movement is not merely a
temporary factional distraction, but an ac-
tnal revolution. an upheaval from the
depths
He recognizes as no other gold leader
seems to recognize the intense unselfish-
ness and martyr spirit of the great body
of free-sllyer men. His broad. states
maulike mind has grasped the fact that
the East is face to face with a mighty
popular movement. saw the senator this
afternoon in his private parlor.
II am now satisfied" he said, "that'
the free-silyer candidate will be nomina-
ted on frec-slver platform. The silver
men have a clear majority"
':And suppose Mr.. Cleveland or the ad-
minstration is repudated in the platform,
Senator, what then?'
"Then we should have another conven-
iion and another Democratic party. or,
rather, we should call the real Democratic
party together and turn our backs on its
enemies
"You think that would be the certain
result of a reputation of the adminstra-
tion by this convention"
There could be no other result Such
an expression would absolve every mem-
Der of the organization from his allcgl-
ance."
in all sincerity. Senator. do you be-
leve that the adoption of free silver would
bring irreparable ruin upon the country?'
81 think 1t would be very grave mis-
take. Yet as an honest man | must
admit that we have no experience since
1873 upon which we can form an esti-
mate Of the effect which free coinage
might produce upon the price Of the raw
silver product Remember, l do not for
a moment recede from the position that
the present money standard is necessary
to our present prosperity and credit.
But it is a fact which 1t is useless to deny
that the freo-silver plan is purely expert
mental and that we cannot say in ad-
vance with any certainty what the ef-
feet of it might be. We might as well
look the facts in the face and give our
Democrats opponents what is due to
them. | will also admit that a money
which increases in value produces low
prices and is therefore antagonistic and
destructive to productive enterprises.
But the currency cannot always ap-
preciate. 1t must finally reach its limit.
And when we have a fixed point, what
more can the producers of the country
desire? So with depreciating medium
of exchange which promotes high prices
You cant have perpetual boom. The
natural state of man Is repose. There
must come time when prices will
cease to boom; then you have another
fixed point. This financial hercsy is
largely due to the fact that our farmers
have grown accustomed to rapid values
due to the sudden appearance of rail-
ways in remote agricultural districts,
and to other abnormal profits. They do
not seem to appreciate the fact that
these are unearned increments. They
cannot go on forever. The Western
farmers cannot settle down to the old
slow, small, but steady incomes. They
cannot abide anything like days wages
or weeks wages. And so anything
which promises boom attracts them.
And it is very natural that they should
be so attracted. But, as | said before,
a boom is an abnormal transitory con-
dition. The question is what will they
have when the ultimate point is
reached?
"The trouble now is not lack of money,
but lack Of credit due to a lack of conf
dence and that in turn is due to this asta-
tion for free silver which is to boom prices.
:
have, the world will still continue to do
ninety or ninetyfve per cent. Of its busi-
ness on credit purely for its own convent
ence, and the moment you disturb or even
discuss the standard money which lies at
the base Of this whole commercial fabric of
mutual faith you arrest and paralyze COM
merce ard you lay industry upon its back 4
in the dust"
Senator Gray, why is there such uni
vcrHal feeling of hatred toward President
Cleveland in the Democratic party of the
West and South? l find 1t everywhere
deep, loud, irCessant. How do you explain
it,"
"Mr. Cleveland has stood in the way of
the accom- riishmcnt of the free silver fana-
tlcism. He has resisted this popular
frenzy. That is the real and true expla-
nation"
You recognize that there will be a free |
silver candidate with a free-silver plat |
form?"
There can be no doubt of It,"
"When that has been achieved, what then !
is the duty of the voters?"
II shall advise my fellow Democrats in |
Delaware to strive for a sound money Con- |
as to the head of the ticket. 1t is purely a
matter of conscience. There will be some of |
the elements of the Greeley campaign pres
ent this year"
II want to ask you plain question, sena-
tor: Will you vote for a free-silver candi- |
date for President who is otherwise an un-
Democrat"
Il will; | certainly will. But am speak
ing simply for myself. The trouble is that
there seems to be movement on foot to |
make the platform of the party simply an
silver plank and abandon every
thing else. If that idea should be carried
out it would be absolutely necessary to
summon true Democratic convention and |
nominate true Democrat for President"
THAT would mean certain defeat for the |
Democracy and certain success for McKin-
ley, would 1t not?'"
at would. l want to say with all the
possess, and with all the en-
phass can give to my words, that the sill
YER majority in this convention may pre-
sent conditions which would prevent self
respecting Democrats from supporting the
ticket"
But you would vote for a Democratic
who differed with you only on
he question of free silver?"
"Of course 7 would"
An ArIist Hoard FROM. |