The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-06-22
WHITNEY UNLOADS
ns Will Forego His Journey to Eu-
rope ard Fight Silver.
BUT HE'S NOT A CANDIDATE
The Democrats VIII Meet Dlsas-
trous Defeat 10 They Adept a
Silver Plank = He Has no
Personal Motives. He says

New York, June 21.-William c.
Whitney to-day made public a state
ment In which he defines the political
situation. makes his position clear as
regards his decision to remain In this
country instead of going to Europe,
and concludes by saying that he is not
presidential possibility, that he
would not run II nominated, and
would not serve II elected"
The text Of the statement Is as fol-
lows: Il find 1t necessary to make a
public statement embodying my views
on the situation to correct misconcep-
tions and save time now occupied In
answering questions. Far too much
importance has been attached to my
decision to go to Chicago. have been
practically out OF politics for four years
and there are now many eastern dem
ocrats who can do much more than i
can for the party. / shall not assume
any position Of leadership. My deci-
sion to stay was simply based on the
duty OF every person who believes In
the party and for its principles, to stay
BY and lend his aid and take his
chances when the great crisis Is upon
the party. Fundamental differences of
principle exist inside the party, mark
ed almost by sectionalism.
The great question, to my mind, Is
whether the party meets in convention
now as In 1860, with issues and differ
ences that are for the moment irrecon-
cilable. For the past Is years leaders
OF public opinion In the South and
West have been advocating as the
great remedy for existing Ills the free
coinage OF silver at 16 to /, with or
without cooperation of other nations.
1t has come to be believed In by these
quite generally and conscientiously. A
large majority of the delegates to the
coming democratic convention have
been elected by the people for the pur-
pose Of Incorporating that doctrine in
the platform OF the democratic party.
Our people. on the other hand, en-
tirely disagree with these views, and
believe almost universally that II will
bring general ruin to the business and
prosperity OF the country. It is deemed
q new doctrine when proposed to be in
corporated into the platform of the na-
tional democracy. 1t Is true that In no
previous platform Of the party can II
superhciaIly be found. Consequently
no party obligations heretofore as
sumed to oblige them to subscribe to
IL. Under these circumstances IL the
results Of the democratic convention
should be to establish an issue OF their
campaign the free coinage OF silver at
Q ratio of 16 to 1, independent of other
nations, In the intensity Of feeling like
ly to arise, II 10 to be seriously appre-
hended that Q disruption OF the party
might occur. Certainly no substantial
following could be secured for the doc
trine among eastern democrats. They
might not vote the republican ticket
for other reasons (beleiving that the
republican party stands for other Is
sues that are detrimental to the coun-
try). but the democrats Ia the East
would not. in my opinion, vote for t..
This movement for free coinage
purports to have for its object the es-
tablishment and maintenance Of gold
and silver a. the money of the country
upon equal terms with each other and
at q parity of purchasing power. II,
by the proposed measure. that object
could be secured, there would be no
substantial disagreement In the party.
Every national democratic platform
that has heretofore spoken upon the
subject has declared for both gold and
silver money. 1t Is our traditional pol
Icy. But the maintenance Of the double
standard at the present time is not a
question Of desire, 1t Is a question Of
ability The commercial value of silver
has declined greatly in the markets Of
the world. Whatever the causes are
and whoever Ii to blame, the fact is
that silver has declined. and free coin
age now at l6 to Is the same as our
offering for all the silver In the world
about twice what 1t Is selling for In the
market. International exchanges have
to be paid In gold. and 1t wouh seem
plain that II we, under these condi-
tions. open our mints to the free coin
age Of silver and gold at a ratio OF a
comparative value, which II largely at
variance with the commercial value of
the two metals. we must take the en-
tire silver surplus ourselves, maintain
Its parity with gold. or else we shall
go to q silver basis.
1T 10 felt, aside from the absence of
any democratic principle to sustain t..
that you cannot have such q disturb
ance of value 'as would come from
changing from a gold to a silver basis
without such a shock to confidence. the
hoardllng of gold and contraction of
our available circulating medium. as
would bring. in the opinion OF our peo-
pie. the greatest panic and distress we
have ever seen in this country. The
creditor classes are prepared for IL.
The obligations. mortgages, railroads
and otherwise. are quite generally pay
able In gold. Debts would still have 10
be paid in gold but wages in silver. the
sufferers, as usual, being the poorer
classes
This movement, purporting to be In
the interest of the joint standard. comes
at most inopportune time. in my opin-
ion. There has never been a time when
the prospects Of interna ioral ection IA
forable TO a joint standard were at all
as promising as at the present moment.
But the III advised, unsuccessful at
tempt here would discredit the cause
the world over.
The recent article of Dr.. Ahrendt ~
the North American Review shows
very clearly the view taken by our
friends abroad upon this subject. He
has done much. and probably more thar
any living man to advocate and bring
to it's domination in Germany this
cause. He is entitled to be called one
OF the leaders Of public opinion in the
Prussian chamber OF deputies. that the
t,oeifnp - ca-rnuuv WAS m nnd iGad 1yith.