Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-08-27
BRYAN's SPEECH.
Delivered in New York upon Accept
ing the Democratic Nomination for
President Of the United States.
SENATOR SHERMAN QUOTED.
Continued from last week..

to certain persons who are pecuniarily
benefited by a gold standard and who
favor it, not from desire to trespass
upon the rights Of others, but because
the circumstances which surround
them blind them to the effect Of the
TIgold standard upon others, / shall
ask you to consider the language Of
two gentleman whose long public SER
vice and high standing in the party
to which they belong will protect
them from adverse criticism by our
opponents. In 1869 Senator Sher-
man, said: The contracting of the
currency is q far more distressing op-
GRAFTON than senators suppose. Our
own and other nations have gone
through that operation before. 1t is
not possible to take that average with
out the sorest distress. To every per-
SOD, except capitalist out OF debt,
or a salaried officer or annuitant, 1t is
period of loss, danger, lassitude or
trade, fall Of wages, suspension of en-
terprise, bankruptcy and disaster. 1t
means rum TO all dealers whose debts
are twice their business capital,
though one-third less than their ac-
tual property. 1t means the fall Of
all agricultural production without
any great reduction of taxes. What
prudent man would dare to build a
house, railroad, factory or a barn
with this certain fact before him?'
"As I have said before, the salaried
officer referred to must be the man
whose salary is fixed for life and not
the man whose salary depends upon
business conditions. When Mr., Sher-
man describes contraction of the cur
rency as disastrous to all the people
except the capitalist out of debt and
those who stand in a position similar
to his, he is stating a truth which
must be apparent to every person
who will give the matter careful con-
sideratiop. Mr.. Sherman was at that
time speaking of the contraction of
the volume of paper currency, but
the precepts which he sets forth
apply if there is contraction of
the volume Of the standard money
of the world,
JAMES G. BLAINE's BELIEF.
MIR. Blaine discussed the same
principle in connection with the de-
monetIzation of silver. Speaking in
the house of representatives on the
9TH of February, 1878, he said; 4
believe the struggle now going on in
this country and other countries for
single gold standard would, if sue
cessful, produce widespread disaster
in and throughout the commercial
world. The destruction of silver az
money and the establishing of gold
as the sole unit of value must have a
ruinous effect on all forms of prop
erty, except those invested which
yield fixed return in money. These
would be enormously enhanced in
value and would gain dIsproportion-
ate and unfair advantage over every
other species Of property.
at is strange that the holders of
investments which yield a fixed return
in money can regard the destruction
of silver with cOmplacency. We may
not expect the holders of others forms
of property to protest against giving
to money disproportlonate and un-
fair advantage over other species Of
property The relatively few whose
wealth consists largely in fixed invest
ments have right to use the ballot
to enhance the value of their invest
ments Have not the rest of the peo-
pie the right to use the ballot to pro-
tect themselves from the disastrous
consequences Of rising standard?
The people who must purchase money
with the products of toll stand in
position entirely different from the
position of those who own money or
receive fixed lucome.
THE PROSPERITY OF THE MASSES.
The well being of the nation, aye,
Of civilization itself, depends upon
the prosperity of the masses. What
shall it profit us to have dollar
which grows more valuable every day
if such a dollar lowers the standard
of civilization and brings distress to