The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1896-10-17
To Farmers.

While both political parties have spoken in
their platforms on a variety OF questions, the
chief and almost only one under discussion is
the money question.
McKinley's platform declares for the
single gold standard until bimetallism can be
had by international agreement. and pledges
him and his supporters to work to secure an
international agreement for the use Of silver
as well as gold for standard or redemption
money.
Notes are not money, but promises TO pay
money. Some are redeemable in silver and
some in coin. This means that the govern
ment has silver dollar in the treasury for
every note calling for silver and has silver or
gold dollars for every note calling for coin.
Not q government bond is payable in gold,
but in coin, bnt the practice OF the govern
ment is to pay interest and principal in gold
when demanded and TO redeem all coin notes
in gold when demanded. This policy has
given power to banking syndicates to deplete
the treasury of gold and force bond issues,
thus increasing the debt of the government
and adding to the volume OF interest that must
be semi-annually paid.
Mr.. Bryan's platform declares for the res
toration Of silver as a redemption money and
for the free coinage of silver just as gold is
granted free mintage. The platform declares
that the ratio shall be Is to l, which expert
enee has established as the proper one and
the one that is and has been in force by Law
for many years. And the platform declares
for the free coinage of silver without waiting
for the aid or consent of any other nation,
thus asserting an independence in keeping
with the dignity, the power and the greatness
of the United States. Mr.. Bryan stands for
independence of England, France and Ger
many, and the whole world. and a throwing
OF the yoke Of the money changers Of Lon
increase of the public debt He stands for
an income tax, whereby the wealth of the
country can be made to bear a just proper
ton of the public burden. He stands for the
constitutional right of the government alone
TO issue paper money, and against the delega-
tion to that power to banks.
The Mckinley platform declares that bi,
metallism is good for the people, but has not
faith in the power of the United States to
maintain it alone, although we had it for
nearly sixty years after England adopted the
single gold standard. Bimetallism, the free
coinage of gold and silver, is good for the
country and people, but Mckinley SAYS we
cannot have it until the nations of Europe
consent.
The Bryan platform says bimeiallism is
good for the country and the people, and
that the people should have it at once, with
out awaiting the consent or aid of Europe.
This is the difference between the platforms
Of Mckinley and Bryan.
Silver was stricken down by act Of Congress
in February, 1878. There had been no de.
mand for it by the people and no discussion
of it by the press. Few members of Congress
knew the effect of the act and fewer still knew
that silver was being demonetized. Gen.
Grant, who signed the act as President of the
United States, said that he did not know it
would cut off silver and destroy one-half of
the volume of currency.
About six months after the .'crime of 1872
as the demonstration act is denominated,
there came panic, precipitated by gold specu-
lation and gambling confidence was destroyed,
failures were numerous and some banks closed
their doors. For FIVE years there was bust
ness depression and stagnation, which was
relieved by the Bland act, requiring the coin
age of about fifty millions of silver dollars a
year. Confidence gradually returned and
gold flowed back to this country, no less than
$22l 900, 900 in gold coming. The Bland act
was repealed in 1890, and the Sherman act,
requiring the purchase Of about fifty millions
Of ounces Of silver year, was passed. This
was not coined, but paper issued upon it.
The gold spectators were at work, and an
other financial panic was precipitated. The
gold standard people, who had absolute con-
troll of both parties, repealed the Sherman
act, in 1898, but made no provision for the
coinage of silver. Since then we have had
hard Zines and business depression. The
value of all farm products have declined, and
have reached point that makes farming I'M
profitable and thereby depressed the value of
farming lands to about one-half their former
price.
In 1873 farming paid, but ever since there
has been almost steady decline in the price
ofwheat, corn, cotton aud tobacco. Measured
in these products taxes are nearly three times
as high. debts have been trebled and interest
also.
To pay taxes nearly three bushels of wheat
are required to pay what one would have
paid in 1878 and il takes three times as much
corn or oats or cotton or tobacco.
All of these commodities have fallen in
value just as silver bullion has fallen in price.
The demand for silver having been cut of, the
price has fallen.
The silver in silver dollar will buy as
much of these farm products as it did in 1878.