The times. [volume] (Richmond, Va.) 1890-1903, 1896-08-14
CANDIDATE BRYAN's SPEECH.


Mr.. W. J. Bryan talked about three
hours as long as was expected. at Madi-
son Square Garden, when he accepted the
nomination of the POpulist-Democratic
party. and IL would be most wearisome
and Improbable to so over all he said.
The speech was principally made up or
what Mr. Bryan intended to be a discus
sion OF finance, but in very truth, 1t had
little more real relation 10 finance than
il had to astronomy. IT was weari-
some rehash OF the plautudes and follies
mat free colners have been pushing out
upon the public for the past few years,
and all Of it can be just as well read n
that monumental absurdity COINS
Financial School as In Mr.. Bryan's
speech To read II IA either IS like sitting
down to a dinner of sawdust.
Mr.. Bryan is. no doubt. perfectly sin
cero in the vagaries OF which he gave
evidences Wednesday evening. He no
doubt believes that the gold in America
is not sufficient for the business III
America. and that the quantity OF metal
lie money here would be very greatly in
creased II We had free coinage OF silver.
But lie either does not know OF he does
not appreciate the neycr-failing law that
when two legtl-tender moneys are put
TO circulating side by side the cheaper
Will drive out the dearcr and that if
No had free coinage OF silver We should
Awe silver money alone and the quantity
or metallic money would therefore be-
greatly diminished instead Of bciug III
creased. We never yet have had Joint
ejaculation OF silver and gold Except
the Overvalued quarters and halves Of sill
veD. Wherever We have had joint circu-
lation or both the difference in the
market value Of the two, although very
timing. las always driven away the
dearer. AT first the gold dollar was the
more valuable aud IL went away and
made our money silver money only.
Then. IN 1S34-Sl. we changed The ratio
and the change made the silver dollar
The more valuable. and all Of the silver
went away snd our money became gold
only which has remained the case until
recently. Mi. Bryan either does not un-
derstand this intalliDle law or he chooses
10 overlook it,
But the great and all-important fact. OF
which We can say with confidence that
Mr.. Bryan is entirely ignorant. is the
one that the metallic money IN a country
has only the most remote relation TO
the amount OF money agencies in that
country that really perform all the func-
uons OF money. 1t never has entered into
ms brain that the business OF Il country
Is not done with It's metallic money or
It's circulating currency notes. but with
the checks of merchants aud bankers.
lie has not the funtest realization. there
fore. OF the fact that when there are no
disturbers or the public peace like the
Chicago platform and its followers. the
merchants and the bankers create all
or what Is money for the purpose OF busi-
ness that the condition of the country
can possibly call for This idea has never
found any Judgment whatever in Mr..
Bryans mind. and yet it is the whole
case
When there is no agtator around to
disturb confidence The money I'VE speak
OF practical money. and not money in
It's strict sense OF the United States
sweils out TO whatever volume is de-
manded by the actual condition. through
the credits which bankers and merchants
exchange amongst each other But
whonever Mr.. Bryan or any other agita-
tor gets the public ear. confidence be-
comes impaired and tins enormous vol
ume or practical money Shrinks up aud
then money becomes scarce. However
many silver dollars Mr.. Bryan might
coin he could by no possibility make
them MI the vacancies created by his
alarming people and causing them thsre-
by TO contract credits.
We can only add At this time. that Mr..
Bryan is the only free coiner we know OF
who believes that Tree coinage will raise
the silver dollar. now worth hfty-three
cents in gold. to the value OF 100 cents in
GOLD He must think his case is desperate.
indeed, when he finds II necessary To
I,ut this absurd claim forward as a
bolster for IL. and 1t is utterly inconsist-
ent with his Chicago speech. II Mr..