The Canton times. (Canton, Miss.) 1893-1906, 1896-08-21

H.Y
y reasonable to suppose that he wi
.nire tho debtor to pay in the deare
al Il there Is any pcrceptible differenc
s,se the bullion values of the metal,
nll.i will make that metal dearer stii
p seAa the decreased demand for the cheare
ln uiI viii make that metal cheaper sill
NV " IN the other hand, the debtor exercise
lLontion. 1t is reasonable to suppose tha
w Xxx Nina nav in the cheaper metal II one me,
W. Msrceptibly cheaper than the other. bli
deroand thus created for the chea pc
pIe,si will raise its price, while tho lessei,e,
sstsand for the dearer metal will lower IA
" other words, when the creditor ba
ANTON. the metals are drawn apart
" E.r yS When the debtor has the Option
n metals are held together approximate
II the ratio fixed by law; provided tht
Imand created Is sufficient to absorb ali
'hoth metals presented at the mint. So.
I'M Is, therefore, interested in hayinn
" optlon exercised by the debtor.
The right OF the Debtor TO choose the
,rds to obligations due from the govern.
I'M as well as to contracts between in
'viiIduals. A government. obligation is
tnply debt due from all the people to
astify q policy which makes the Interests
Ike one person who holds tho obiira :
IN superior to tho rights OF the many
ho must be taxed to pay It. When, prior
sysr Mas th & Rsrsmilu
iIeus in in siver and the Matthsw r aS,,
tlOn, adopted b .Sa congress eng, IN 1873, OK
asserted ssnsl The the n,Gnt q the United
N silver dollars as well as in gold coin.
hon this subject the Chicago platform
Esds: I'VE are opposed to the policy and
ractice Of surrendering. to the holders Of
StIo T Reserved BY law to the govern s enf
redeeRing such obligations In either
liver coin or gold coin."
Cause of the Drain ON the Reserve.
Il IS constantly assumed by some that
Il United States notes. commonly called
Esd under the act Of 1890, are Responsible
the recent drain upon the gold re-
<fye, but this assumption Is entirely with
u foundation. In support Of this asser-
b Nj. Bryan quoted from testimony Of
cretary Carlisle before the committee
hich the secretary said II tho policy Of
.serying to the government at the hes
Inning of resumption the option 81 re-
tmng In gold orsliver all its paper pre-
|nted had been adopted he thought it
cretaries of the treasury, from the be-
Inning Of resumption, had pursued a poIi-
Of redeeming In gold or silver, at the
Rion Of the holder Of the paper, ana il
n secretary had aftsrward attempted
|man who wanted gold and gold upon q
hn who wanted silver his Judgment was
|at It would have been very disastrous
Fhis, MI Bryan argued. showed that the |
BIT does not lie with the greenbacss |
d treasury notes. but rather with the |
Erender a right whicb shrnld Le ~, ~ 70
ercsed for the protection ~ tha iy,ta,
n Of the people n the ro,,n v ...sr
build retire its paper and throw ,nnn IN
hks the necessity Of furnishing coin re-
nl N the banks would exercise the
Ent 70 furnish either gold or silver; in
h Just as the government ought to ex-
Plse !. now;
may De further answered that our OPP
p psli nave suggested no feasible plan for
Ulaing me dangers which they fear. The
trenrent OF the greenbacks md trea a1,rv
tes would not protect the treasury. be.
n ,ra,a .ne same poiicy which now leads the
$780,, =, inc treasury to redeem oil
MAJ viii ,.p,s,,, ~ eolu. Wnen gold 10 de-
IN rsSe S.,, ~ Ie4ulre the redemption of all
M M uu,aars ana silver certificates In gold
ths s r,r PACK. ana treasury notes are
Il IKE 'surl crrcniation. More. than
y, I. q NJ tn = governnent should retire Its
!, aS ~ .nIoW upon the banks the neces-
H. " r lul,1,i1nlng coin redemption the
~, ss w49iu exercise the right to furnish
IA go u auveT. In other words they
~ exercise the option, just as the gov
n,eiiI ought TO exercise 1t now. The gov
. WI must either exercise the right to
I'm IN us obligations in silver when sill
i. II nore convenient, or it must retire
.he silver and silver certificates frox1
uuidtion ana leave nothing but gold az |
\ tencer money. Are our opponente
us 10 outline financial system which
carry out their policy to IFS Ief-itimate
huston or Will they continue 70 cloak
designs In ambiguous phrases?
{ argument that 3 sfIyAr do,I.r all
Ter than gold dollar. ana Thar thara
silver is less conveniant ~ =. r rrer e.,
quantities 10 he sa;d nn,,s, ~ UaiIy m
ed by the silver cartifica ~ ipi,s9.SLs an /
y carried az tba gn1d o - aas.. - - {
other kind of no 81 Siu eSi ..iicaTy, OF D
points nresontaS anu Iluslratlon IN
MS speech. {
ooi0 Goes Abroad
answer to the charge that gold will
,road 1t must be remembered that no L
,an leave this country until the owner
g gold receives something In return
which he would rather have. IN {
words yEbn s, when gold leaves the country, =
MY MY formerly owned 1t will be bene-I $
V compelled to part with our gold p
y &c. our Will, nor is there any process by !!
silver can be forced upon us without I.
onsent Exchanges are matters NJ
ment, and if silver comes n tbis co,,n
nder free coinage # viii he a. az IL
mn of co., : - 80 ny a. tiiS III