Daily capital journal. (Salem, Or.) 1896-1899, 1896-09-23
MAINrAnINo THE PARRY.
Awful Job Before the oovernment
Mckinley Goes In.

election. The country has yicwct
with alarm the increase of the public
debt by s262, 100000 in time of pro
found peace, in order that the govern
ment might run gold warehouse fol
the benefit of gold exporters! But
that the Republican leaders indOrse
the policy of President Cleveland is
proved 10y ex-President HarrisOn's
speech at Carnegie hall suggestive
name) New York. Mr.. Harrison said;
SIN connection with this financial
matter, do we ali realize how impor-
tant the choice of president is? Do
you knew that as the law is now,
without tie passage Of any free coin
age Of silver at all, it is in the power
of the president Of the United States
to bring the business OF this country
to "a silver basis. All he has TO do is
to let'the gold reserve gO,pay out silver
when men ask for gold, and we are
there already. 1t is only because the
presidents of the United States that
we have had, and the one we have
now, hx regarded it under the law,
as his public duty to maintain the
gold basis, maintaining that parity
between our silver and gold coins
which the law declares is the policy
of the government, and because he
has had the courage to execute the
powers given TO him by the resump-
tion act to carry out that declaration
OF public law. / undertake, therefore,
to say that if Mr.. Bryan, or a man
holding his views, were in the presi-
Dental chair, without any legislation
by congress we should be on a silver
basis in a weeks time"
One might laugh at this If it came
from any other source than the 'logj-
cal and dignitied" eX-president. For
Benjamin does not inform us how the
president is to "let the gold reserve
20" unless he pays it out "when men
ask for gold" The'average man, who
doesn't wear his grandfather's hat,
might infer that if the president
didn'G pay out gold it would stay in
the treasury just as silver does now
for the reason that it isn't paid out!
1t might be well for Mr.. Harrison tC
explain why France is enabled to keeL
on hand, perhaps the largest stock OF
gold in Europe, through her policy OF
exercising the option of paying out
silver whenever French obligations
are presented at her treasury counter,
and which has enabled her on two
occasion to preserve intact the credit
Of the great gold standard Bank OF
England by loan of French gold al
critical moments.
But the drift of Harrison's speech
is that it practically endorses Cleve
lands policy Of issuing bonds to buy
gold to maintain the reserve" Now
this may be fine thing for national
banks on the one hand, who want
bonds issued as basis for theiI
"fiat" currency, and on the other
hand for the benefit of those
brokers who have been collecting gold
to fill European war chests and to en-
able Austria to Refund her immense
silver debt into gold bonds for the
benefit of the Rothchilds. These are
the men for whom we have been
maintaining national sinkhOle into
which bonds may be dumped to intin'
ity, while the gold sharks are COB
bling the proceeds as they emerge
from the outlet in payment of ma
tional obligations. That Bryan
could stop this little game sin a
weeks time" by paying out silver
(coin OF the Constitution when "mer
ask for gold," Mr.. Harrison ct. al. are
well aware. Hence the howl against
the Revolutionary" candidate.
Now to show that the people of the
United States, and the gold brokers
also, unless there is some foreign de
mand as Of late-do not care for q
gold currency, let us quote from Pres
ident Hayes first message after the
resumption act came in force; 81
congratulate Congress on the success
full execution of the resumption act
AT the time fixed and In the manner