The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1896-06-26
Mr.. Whitncy's Address.

MIR. Whitney's Address,
The address of eXSerretary W. {
Whitney to the Democrats of the Tn
ion, which we give in full on anothe
page, is the cearest and most cogen
statement of the case, alike from par
tisan and patriotic standpoint, tina
has been made from any source. |
ought to be su fficient to stay the mac
rush that has been making in Dem
.ocratic conventions.
He covers the whole ground when he
says that for this country now to at.
tempt free coinage alone is simply tc
offer to buy the silver of the whole
world at double its market price-in
OF her words to give 100 cents worth OF
& old to anybody on earth that chooses
to get 80 cents worth of silver and
ask the exchange. We have had expe
rience enough, as the result of the
| Sherman law, of this kind of "main.
tanning of parity to see what the
result will be.
We can do it, of course-the silver
men are correct so far--.by issuing
bonds to buy gold enough to take all
the silver that is offered in this way.
But it will require several timesl as
much increase of debt as has already
been made on account of the Sherman
law foollshness.
Free coinage will individually raise
the price of silver somewhat, but it
would not bring it to a level with gold
until tho worlds surplus has been I'M
loaded on us in exchange for gold.
Unless bond issues are authorized ad
Iibitum to hold up silver, free coin
age will inevitably result in the entire
of gold from our money
system and silver monometalism in
stead of bimetalism.
To the few misguided people who
believe this would not be the outcome,
Mr.. Whitney points to the experience
Of France and the Latin Union and
sh ows clearly the folly of our attempt
ing to do what they failed to do with
much greater advantages ard with far
ess depreciation of silver than exist
low.
But as believer in real bimetalism.
as the most thoughtful students of !.
he subject are the world over. heA
SKIS the silver men to work for an
agreement, which hex,
lows to be nearer than it ever wasa
efore If the two great parties inv Z
lis country will take ground that Twill =
onvince Europe that we will act only
hen she acts and only in unison with
or, International agreement will sure =
follow. Enlightened opinion is all -
at way and the interests of the PEG
lie who now ruleHin nearly all The -,
are all that way, and these :,
acts cannot fail TO haveitheir effect ~ -
There can be no doubt that AN /,
sreement of all the great nations on ..
ratio Of coinage between the two N
etals would solve the problem com -
etely. leave the whole world better -
than it ever was before, and undo r.
lie terrible work in depreciation of Y
'lues, doubling OF debts and1paral- e..
IS of enterprise that has been done by :.
and the greedy grab A.
lg of the nations for gold. a.
The only question now.lleft is M,
neither England would come into II,
ch an arrangement But even If No
will not the other great nations by al
cement among themselves, for which ~
ey are all ready, can probably do it. ~.
demonetized silver as far back as -.
q, but it.kept its.value until the 9th ~.
nations began to-. demonetize. II IN 49, ~,
seventies. If. they.were able to oor
ID it up when acting. together then, ~.
y ought to be able to bring it up ,as,
Il on