The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-06-22

New York. June zl.-wiIam c. whitney
today made public statement In which
ne defines the political situation. makes
MS position clear az regards MS decision
10 remain In th.s country instead Of going
y Europe, AMI concludes by saying that
he II not A presidential possibility, that
ae .'woaid Tot run II nominated. and
would DOT serve Il elected
The fun text of the statement is as fol-
lows: Il find Il necessary 20 make a pub
he statement smbodying my views on the
situation. 10 correct misconceptions and
save time now occupied In answering
questions
Far too much importance has been at
tached 10 my decision 20 10 10 Chicago.
] have been practically out OF politics for
four years. and there ars now many East
ern Democrats who can do much more
han ] can for the party. 7 shall not as
sumo any position Of leadership. My de-
cision 10 stay was simply based on the
duty ef every person who believes In the
party and It's principles. TO stay by and
lend his aid and take his chances when
the great crisis - upon the party.
Fundamental differences Of principle
exist inside the party. marked almost oy
sectionalisrn. The question 10 my mind
Is whether the party meets in convention
now. as ia is6o. With issues and differences
that are for the moment !rreconcilsble.
For the past fifteen years leaders OF public
opinion In the South and West have been
advocating as the great remedy for the
existing Ills the free coinage of silver a
is 10 !, with or without the cooperation
or other nations. II has come 70 be be-
lieved IN BY these quite generally and
conscient.opsiy. A large majority OF the
delegates 20 the coming Democratic con-
vention have been elected by the people
for the purpose Of Incorporating that doe
tFine into the platform OF the Democratic
party.
Our people. on the other hand. freely
disagree with these views and believe al
most universally that Il VIII bring general
ruin TO the business and prosperity OF the
country IL IS deemed q new doctrine when
proposed 10 be Incorporated Into the plat
form Of the national Democracy. II Is
true that In no previous platform OF the
party can IL specifically be found. Con-
sequently no party obligations heretofore
assu~ed oblige the members OF the party
20 subscribe TO IL. Under these circum-
stances, II the results of the Democratic
convention should be 10 esta bliSh as an
issue OF their campaign the free coinage Of
silver al a ration Of I6 10 l. independent
OF other nations. In the intensity of feel
Ing likely 10 arise II Is to Do seriously ap-
pretended that n disruption Of the party
might occur. Certainly 40 substantial fol-
lowing could be secured for the doctrine
among Eastern Democrats. They might
not vote the Republican ticket for other
reasons believing that the Republican
party stands for other issues that are de-
trimental 70 the country bat they would
not. IN my opinion. vote for the free silver
proposition.
This movement for free coinage pur-
ports TO have for It's object the establish
ment and maintenance OF gold and silver
as the money OF the country upon equal
terms with each other and at a parity OF
purchasing power II by the proposed
measure that object could be secured.
there would be no substantial disagree
ment Ia the party. Every national Demo-
cratic platform that has heretofore spoken
upon the subject, has declared for both
gold and silver money. II is our tradition
al policy Butt maintenance Of the double
standard At the present time Is not a ques-
tlon OF desire. it $ a question OF ability.
The commercial value Of silver has de-
cltned greatly in the markets OF the world
Whatever the causes are and whoever
Is 20 blame. the fact is that silver has de-
clined and the free coinage now az Is 10
] is me same ss our Offering for all the
silver IN the world about twice what Il
Is selling for in the market. The exchanges
have 20 be paid ia god. snd it should be
plain that II We, under these conditions
open cur mints 20 the free coinage OF
silver ard gold AZ a ratio Of comparative
value which Is largely 81 variance with
the commercial value of the two metals
ysc must take the entire silver surplus our
selves and maintain It's parity wlth gold
or else We shall % 20 a silver basis
France IN 1895 closed her njnts against
silver and abandoned this experiment
dsemins herself unequal 20 the task Al
that timse y ~as much less difficult. for
silver was then az par with gold. at the
ratio ia use and even Englana's nlints Tn
india were open 30 the free coinage OF
silver II the experiment Of maintaining
the parity OF the two metals at coinage
standard was difficult then, II would
seem 20 be positively hopeless row with
out international agreement Gevfnanv.
France. Belgium. Italy and Austria be-
leVe in a double standard and desire -
establish g. but no one. two or three Of
them dsem themselves able 10 maintain
the double standard. even with the CO.
operation q the United States II the re-
suit of the measures proposed would b,
% carry Us TO a silver basis II IL not felt
here that such n proposal would be in
lire with the principles Of the Democratic
party IL - not the Joint standard ~ith
the purchasing power of the dollar at par-
ity with each other. but it Is the chang
inE from one standard 20 another. ana
that change - oafng due TO = deprecated
cotn.
ssIt Is also foit. aside from the ahserc>
of any Democratic principle to sustain
Il. that you cannot have such a disturb
anCe uf value "a would come from chang
ing from q Eold "a a silver basis wttheut
such q shock to confidence. the haarsfIrr
q gold and contraction or cur avansf'a
circulating medium. As would bring n
tha opinion Of our pecUle. The greatest
pauic and distress We have ever seen IN
this country The creditor classes are pre-
pared for it. The obligations. rnortrax~s
ralfroad gs,u6s ard ether securities are
aalte generally payable ~ Kold Debts
would St1i have - hs paid Ia gold hut
wages iu silver. the sufferers. as usual.
being thv poCrer classes
This movement. purpoTtiag 90 - n
he interest - fhe %0inf standard COMA
AZ a most tnorHoTtuns ttrne 81 my opinion.
There has never hgen q tErae when fgsa
ssrs.stss-ts af international sctten favor
ab8a so slse fNint standard were az ali a.
promising as 90 he present moment F2g,t
ar Ht-a.gvssef tsysssec@ssr0f stterqut here
s.Fss,td a4srreaft tse cause the wo~Es8 over
prom the aGse1Ess1@ of tas tgst.tassst7-
s.sa~s gl has ccz8a Ia sass th2e suranE fhe
.sa-~sn< tn ts1~oee Wss ara traine4 49,
azrsssE scientists Eren money ara s--aa-
s.est- questions. srsecsty ore - aas ~ tse
-,rsser-f rroaseur aAvoc&f3nE the sssvtsztsss-
~ q sne tofnf standard as the saIssfon
~ fha rsanetaTg 9snar1ltY - tn wav-s
YseHz fnetF&as cwern Evofesear nEEseMt -
sza-}sssx ar tertaramE en- thrse $50 serss n
sha gnsvqrslgtes IS Great Brisssn
s~-rhsg are AKre>s agou sae ss~frA nsflsy
- lt. au8 teaE 81 ss eafiretv Fgzrsiessss -