Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1896-09-24
EN-SECRETARN SCHTRZ
shows Clearly That Free Silver
Would Mean Ruin to Industry

interior. addressed an immense audience
in Central Music hall, Chicago, on
sept. 5. Speaking c. a posi- BILE free sill
yer victory he said:
Consider what the immediate conse-
Quences would be Il Mr.. Bryan were
elected president. with congress to
match. Nj Bryan would q course be
anxious 10 have his free coinage law
enacted, but that could not be, even Il
be called an extra session OF congress,
until some time IN April or May. five or
SIX months afr TIE day & election
Blu. as socn a. on the 4,h Il November
the result Of tho election was announced
everybody weald knew that the parity
Of gold and silver would MT be main
tanned
1t having heen made certain by Mr.
Bryan's election that the parity Of gold
and silver would uet lie maintained.
there would be rash upon the trnas
ury for the geld in it by persons hold
ing 4reenhacks entitled TO redemption,
and the geld reserve would 30 exhaust
ed in twinkling. Gold will instantly
disappear from circulation. 70 be hoard
ed or exported. Why vii! j. disappear?
Because every sensible person when
making a payment Will prefer TO make
it in the loss 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 tho silver basis long before
a free coinage law can be enacted Our
Il, t,- d. b.,.- ualf
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 SO cents
or thereabout, fer the government will
no longer held up the silver dollar to
the value Of the gold dollar
The quantity of gold vanishing from
circulation will amount TO about $780,
600, 600, the disappearance Of which
Will make tremendous hole in the
volume Of our currency. But. says the
silver man. there Will be free silver
coinage to I'll the gap promptly with
coined silver or silver certificates Oh,
no, my fellow sufferers The disappear
ance Of gold viii happen promptly after
the election Ct Mr.. Bryan, and there
will not possibly be any free coinsge q
silver for at least SIX months, and 1t
viii require n great many moro months
to fill gap Of 5000. 600. 600.
What will happen mesnwhile The
st. Louis Globe Democrat reports Mr.
Bryan 70 have said scme time ago: II
think it-meaning the victory Of the
free coinage movement-wi!l cause y
panic. But the country ia III deplor-
able condition, and 1t Will take extreme
measures to restore Il 10 IA condition Of
prosperity. Whereupon tho St Louis
paper pointedly remarks, Evidently
Mr.. Bryan has heard OF thu 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 cur
gold from circulation would produce
the most stringent contraction of the
currency on record Business men who
owe money and Ut the same time have
money due them viii be forced to col
lect that money by every means a, their
disposal. Nobody Will be Inclined 10
lend ont any money except upon oxtraor
binary security. The banks will nat
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iAo" YAH ioielcAi tAcsc Things Win