Belding banner. (Belding, Mich.) 1889-1918, 1896-08-20

I'VE will be required to coin only that
which is not needed elsewhere: but II
we stand ready to take and utilize all
OF II, other nations will be compelled to
buy at the price which We fix. / am
firmly convinced that by opening our
minis to free and unlimited coinage at
the present ratio we can create de-
mand for silver which will keep the
price of silver bullion at $1.29 an ounce.
measured by gold.
Our opponents cannot ignore the
fact that gold Is now going abroad In
spite Of all legislation intended to pre-
vent II, and no silver Is being coined to
take its place. Not only Is gold going
abroad now, but II must continue to go
abroad as long as the present financial
policy Is adhered to, unless We con-
tinue to borrow from across the ocean,
and even then we simply postpone the
evil, because the amount borrowed, to-
gether with interest upon II. must
be repaid in appreciating dollars. There
is only one way to stop the increasing
flow Of gold from our shores, and that
is to stop falling prices. The restora-
ton of bimetallism will not only stop
falling prices, but will-to some extent
restore prices by reducing the worlds
demand for gold.
Those who deny the ability Of the
United States to maintain the parity
between gold and silver at the present
legal ratio without foreign aid point to
Mexico and assert that the opening OF
our minis will reduce us to silver
basis and raise gold to premium. 1t
is no reflection upon our sister republic
to remind our people that the United
States is much greater than Mexico in
area, in population and in commercial
strength. 1t is absurd to assert that
the United States is not able to do any
thing which Mexico has failed to ac-
complish. The one thing necessary
in order to maintain the parity is to
furnish demand great enough to util-
ize all the silver which will come to
the minis. That Mexico has failed to
do this is no proof that the United
States would also fail
1T is also argued that, since num-
Der of the nations have demonetized
silver, nothing can be done until all
of those nations restore bimetallism.
This is also illogical. 1t is immaterial
how many or how few nations have
open minis, provided there are suffi-
cient open minis to furnish monetary
demand for all the gold and silver
available for coinage.
I'VE are told that the restoration OF
| bimetallism would be hardship upon
| those who have entered into contracts
| payable in gold coin, but this is mis-
take. 1t will be easier to obtain the
gold with which to meet gold contract
when most OF the people can use silver
than it is now when every one is trying
to secure gold.
I'm conclusion, permit me to say q
word in regard to international bimet'
| allism. The advocates Of free coinage
| have, on all OCCASIONS, shown their will.
ingness to cooperate with other ma
tons in the reinstatement of silver, hui
| they are not willing to await the pleas
ure of other governments, when i'm
mediate relief is needed by the peo'
pie OF the United States. How lone
must we wait for bimetallism to be
brought to us by those who profit by
monometallism? II the double stand
ard will bring benefits to our people
who will deny them the right to en-
Joy those benefits? We shall not offend
other nations when we declare TIL
right OF the American people to govern
themselves, and, without let or hind
rance from without, decide upon ever!
question presented for their considera
ton. In taking this proposition W,
simply maintain the dignity OF 10000,
900 citizens, who are second to none II
their capacity for self-government."
He concluded with the following ap
peal to the citizens of the great stat
whom he was addressing:
Citizens OF New York: l have ira
veled from the center OF the continen
to the seaboard that l might, In tn
very beginning of the campaign, brin
= you greeting from the people out ives
and south, and assure you that thei
desire is not to destroy, but to bull
up. The advocates Of free coinage be
lieve that, in striving to secure the i'm
mediate restoration of bimetallisn
they are laboring in your behalf q
we'll as in their own behalf A few G
your people may prosper under presen
conditions, but the permanent welfar
of New York rests upon the producer
of wealth. The great city is built o
the commerce of the nation, and mus
suffer il that commerce is impaired
Production of wealth goes before III
exchange of wealth. You cannot Al
ford to join the money changers
support Of a financial policy which, d.
l. stroying the purchasing power of III
: products OF the soil must in the en-
! discourage the creation of wealth"
The delivery of Mr.. Bryan's speec
> consumed nearly two hours, and II
finish was greeted with hearty al
plause. The chairman introduced I'll
; vice-presidential nominee, Arthur Sew
all, and Gov. Stone presented him wit
the formal nomination document. M
J. Sewall made a short speech OF accep
e | ance and the meeting adiourned