The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-08-18
BLAINE ON THE SILVER ISSUE.

REPUTATION OF GARBLED EXTRACTS FROM
HIS GREAT SPEECH OF 1878.
To the Editor of the San Francisco Calt-SIR
The Examiner OF to-day contains the follow
ing:
BLAINE'S PROPHETIC SPEECH.
James G. Blaine in United States Senate, 1880
believe the struggle now going on in this coun-
try and in other countries for q single gold
standard would, II successful produce widespread
disaster in and throughout the commercial world
The destruction of silver as money, and establish
Ing gold as the sole unit Of value, must have 9
those investments which yield q fixed return in
money. Those would be enormously enhanced III
value, and would gain disproportioDate and I'M
fair advantage over other species OF property. If
as the most reliable statistics affirm, there are
nearly $7,0O0.000000 of coin or bullion in the
world, very equally divided between gold and
silver, it Is impossible to strike silver out Of
istence as money without results that will prove
distressing to millions and utterly disastrous to
tens OF thousands.
1 believe gold and silver coin to be the money
American people anterior to the constitution
which the great organic law recognized as quite
conferred Congress to declare either metal
should not be money. Congress has, therefore in
my judgment. no power to demonetize either. If
therefore, silver has been demonetized am in
favor of remonetfzing it; If its coinage has been
prohibited am in favor bordering It to be re-
sumed. am In favor OF having it enlarged.
These are garbled quotations from the open.
ing paragraphs of speech by the greatest
American of his day on demonstration Of
Silver" delivered in the United States Senate
not in 1880 but on February z, 1873, when the
Senate, in committee of the whole, had under
consideration an act to authorize the free
coinage of the standard silver dollar and to
restore its legal tender character.
Mr.. Blaine did not in that speech utter q
single sentence to show that he favored the
free and unlimited coinage of silver, as the
organs of the silyer-mine owners would fain
have US believe. BE never Endorsed any
scheme for an inflated currency which would
ha Daram0un [ to reDudiatiOQ.
In that speech he did say: eff we coin q
silver dollar of full legal tender, obviously
below the current value of the gold dollar. we
are simply opening our doors and inviting
Europe to take our gold. With our gold how-
ing out from us we shall be forced 70 the single
silver standard, and our relations with the
will be not only embarrassed but crippled"
He said further on in the same speech: "If
we coin too low a dollar before general remon-
citation our gold will leave US. If we coin
too high q dollar after general demonstration
our silver will leave US. 1t is only an equated
value before and after general reconciliation
that will preserve both gold and silver to u.s."
The Democratic press which is giving pub.
licity to the extract taken from the Examiner
religiously, cautiously and sedulously re-
Trains from publishing either of the quota
tons I have mentioned. The purpose is ep-
parent to the most careless newspaper reader.
few paragraphs are filched from the utter
ances of the dead knight of protection, sound
money and America for Americans, and are
sent broadcast in the vain hope that the luke
warm Republicans may be induced TO desert
the party which saved the Nation from de-
struction and preserved its financial honor.
The speech referred to was not in defense
OF free coinage unlimited, but was q strong
plea for bimetallism. Mr.. Blaine favored the
use of the two metals, silver to be at parity
with gold. Letme quote him again in the con.
GLIDING passage of that speech, which gives
silver mine-owners so much concern:
'With Astounding proof of its demoralizins
and destructive effect We have it proclaimed
in the halls of Congress that 'the people de-
mand cheap money. / deny it. l declare
such phrase to be totel misapprehension-s
total Misrepresentation of the popular wish
The people do not demand cheap money
They demand an abundance of good money
which is an entirely different thing. They dc
not want single gold standard that will ex
clude silver and benefit those already rich
They do not want an inferior. silver standard
that will drive out gold and not help those
already poor. They want both metals, in full
value, in equal honor, in whatever abundance
the bountiful earth will yield them to the
searching eye of science and to the hard hand
of labor" Respectfully, FRANK sToRER.
August IL, 1906.