St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1896-08-14

Ernest Seyd was always silver man
and was not here when the thing was
done. (AppIause.)
1t has also been said that this was a
steal by which we were called upon to
furnish more costly metal, and there.
fore our creditors were going to get
more out of us, and it was all plot with
that intent.
The answer is simple and conclusive.
In the first place we had not, prior to
1873, had a single dollar Of gold or silver
current in this country, and we did not
have any for five years afterwards. And
there is another iact-pretty important
one-and that is, that in 1878 the silver
that would have made United States
standard silver dollar of 412b grains,
was worth three cents on a dollar more
than a gold dollar was. This was set
ting up a standard that was three cents
on dollar lower than the one which YOU
say ought to have been retained. think
we may safely eliminate from our minds
any notion that any fraud or wckedness
was practiced.
And the only question is, which system
is the best for this country? which will
produce the best results? At the very
outset ! want you to understand pre-
cisely what is proposed. You will hear
a great deal of talk about bi-metaism.
The system which is proposed by the
Chicago convention is not bi-metaism.
Ri metalism is an entirely different affair.
What is the object of bi.metaism? The
object OF 1t is to give to the currency
greater stability by spreading it over
more surface. very common iIlustra-
ton of it is this: lfyou have a lake any
where it is subject to all the peculiar
incidents of the region in which it is.
This rainfall may lift it, that drouthmay
lower it. Now, ifyou want a perfectly
stable surface you have got to get it BY
some application outside of that lake.
Suppose you can JOIN it to another lake
in a different climate which is differently
affected. II you JON them perfectly to-
gethcr then there will be the same level
i'll both lakes, and the disturbances in
one lake will be counterbalanced by the
disturbances in the other lake, and the
tendency will be to have a steadier level
That will be all perfectly true, provided
your two lakes do baIance-and YOU get
a more stable currency.
Now there is some reason and sense in
the idea that the whole world, if they
took gold and silver at proper ratio,
could preserve greater level OF prices, a
hrmer and more stable level of prices.
This no single country could do.
But ii one of the lakes was very violent
IN its fluctuations, | think the part of
common experience would be to leave it
out, or II that lake was not big enough
to have proper effect, in short, under
some circumstances the two lakes might
be worse than single one might be.
However that is aquestion of legitimate
discussion. But in this case it is not
proposed to have two lakes 1t is pro-
posed to say that we have two lakes
and shift from the one we have to the
one we have not. (Applause.)
Let me tell you one simple thing, tnat
these silver men won't tell you. Proba-
bly, one-third, perhaps am undertaking
1t or overStating it, probably one-third
OF the silver product of the United States
was promised as the result OF the tariff
on lead, it was bi.product. Now all
this production OF silver shows where we
are going to come to if we get on a silver
basis. The world will go on measuring
things in gold, and then they will cacu.
late about us. Well, YOU say, 1.-THE world
will have capital, why won't the world
let us have their capital on silver basis.
Wei, suppose they will after awhile.
They let Argentina have it on a paper
basis, and they had a nice time of it, and
they won't forget it either; but if they
let us have it, it is gong to be at a great
price. Why? That is a very simple mat
ter. Don't let us confuse this business
OF borrowing and lending by our little
private prcjudices.
Mr.. Reed concluded as follows
There are more things that wish to
say, but | shall not say them today
because time only will develop what
things you have got to meet during the
campaign; but venture the assertion to
you that ION the side of the republican
party in this campaign is all human
history, noticed that George Frederick
Williams, whose kind mention OF me
reciprocate, says that he is obliged to
say new things everywhere that he goes,
in order to get reported; but | notice
that there is one thing that he says
everywhere, and it has ceased to be new
and that is, that he hasn't time on that
particular evening to explain the silver
question, but will do it later. daughter
and applause). When that time comes,
he will not find very responsive audi
ence.
Yes, my friends, you want all of YOU to
stand up and vote for sound money,
because it is the best thing for the restor-
ing OF confidence; and you want to vote
for Mckinley and Hobart, (applause)
because they represent that and other
equally good things
On the other hand, ifyou don't know
what you want, il you have vague idea
that you want something and that all
something's are the same, and that if YOU
get any one OF them, you get what fits
your case, why vote for the triangular
combination OF Bryan and Watson and
Sewall, and the Lord preserve you if you
get what you want.
Now, be OF good cheer, my friends, the
times are dark; there are things in that
Chicago platform, outside OF the silver
question, which would bring almost as
much disaster as false currency; but
say to you, be OF good cheer. This coun.
try has weathered many storm. This