The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1896-08-15
DEMOCRATIC -POPULISTIC FL
NANClAL POLICY MEANS NOT
BIMETALISM BUT SILVER
MONOMETALISM.

for sound money. X = \ We are there
fore, opposed to the free coinage of silver,
except by international agreement with the
leading commercial nations of the world
which we pledge ourselves to promote, and
until such agreement can be obtained the
existing gold standard must he preserved. y
The Democratic-P opulistic Chicago plat
form declares:
eve demand the free and unlimited
coinage of both gold and silver at the pres
ent legal ratio of Is to |, without waiting
for the aid or consent of any other nation"
The Republican contention is that the
free coinage of silver at 16 to could lot
be sustained-the world s commercial valu-
alton being little more than sixteen ounces
of silver to half an ounce of gold (nearly
30 to l and that parity between the two
metals can be maintained only by an inter
national agreement.
The Chicago platform assumes the con-
trary, and in that assumption the Chicago
nominees and all free-silverites vociferously
join.
In this article some of the reasons for the
Republican contention are quoted below,
others will follow hereafter.
DIR. Otto Arendt, editor Deutches IIockeh-
Jidtt, member of the Prussan House Of
Deputies and of the German Silver Com
mission of 1894, who has been battling for
bimetalism since 1880, and whose opinions
should, therefore, have weight with Ameri-
can bimetalists, says, in an article in the
June North .lmericdR Rericw:
'If it is now desired to perpetuate the gold
standard in Europe, let the government at
Washington adopt free coinage of silver at
the ratio of 1:16. At present, after
the closure of the Indian mints, this step
could not possibly have any other result
than to make the American standard a silver
standard. y u The United States would
have standardnot materially different from
that of Mexico. i Gold recommendation
would be replaced by silver recommendation !;
the double standard would become nomi-
nal. y Il The United States alone
can not establish the double standard by
adopting free coinage; they would shift
over to the silver standard.
Henry Cernuschi, said to be the ablest
champion in Europe of the restoration OF
silver, and the recognized leader of the
bimetalists, in his pamphlet on "The Great
Metallic Powers" says:
''As soon as the coinage of silver by the
United States was free, Europe would act
toward the United States Just as Germany
acted toward France so long as France
coined silver Europe would demOnetize
large masses of silver and send them to
Philadelphia to get them made into dollars,
with which dollars she would get gold dol
lars despatched to her.
"Why is not the coinage OF silver free in
France? Because were the coinage free, all
the gold would emiglate, and France, de-
prived of gold, would no longer have a
monetary medium either with England, or
with Germany, or with the United States.
Very venturesOme would be those who
should recommend the United States of
America to undertake single-handed what
France will undertake only triple-handed."
The Russian Minister of Finance, Mr..
Vishnegradski, being called upon one day
by Hon. Chas. Emory Smith, then L. S.
Minister at st. Petersburg, was found with
a copy of the American free-coinage silver
bill, then under debate in the L. S. Senate,
lying open on the table before him, and in
reference to it he said to Mr.. Smith in
substance:
"If this bill becomes a law the United
States will expose herself to dangers of
which, perhaps, she has little idea; there is
great deal of silver in Europe; we have
some in Russia; already the proposition has
been made to me to join in a movement, in
the event of the American adoption of free
coinage, to unload part of Europes silver
on the United States, but | believe this
measure and this action would bring calam-
ity, and hope the United States will make
no such mistake"
The late James G.. Blaine, in speech
made by him in the Senate on February :.
1878, during the debate on the bill for the
recoinage of the silver dollar and to fix its
standard value-a speech, by the way, a
portion of which out of its connections
and consequently misleading) the silvertes
are publishing in aid of their vews-used
this language:
eff we coin a 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 flowing out from us
we shall be forced to the single silver stand
ard, and our relations with the leading
commercial countries of the world will be
not only embarrassed but crippled
Production Of other competent authorities
in proof of the inevtabeness of a single
silver standard in case of the adoption OF
the free silver program and illustration Of
the disastrous consequences sure to result
from such standard must be deferred for
subsequent issues of the WING.
"Thc Republican, party standS for honsSt
money and he chdncc to earn H.'-Will-
lam Mckinley.