The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-27
Morgan Addresses Him on the
Silver Question.
ASKED TO SUGGEST A PLAN
international Agreement Diff
cult to Arrange.
AND 1T MIGHT LEAD TO WAR
England and the European Powers OPP
pose it Because They are Profit
ing by the Purchase OF
Our Silver.
To Hon. William C. Whitney;

Your open letter of advice to the
Democracy, published june Il, is en-
titled to the sincere respect which 1T
receives from the whole people.
You decline in that letter to permit
YOUR name TO be used at the Chicago
convention, in connection with the
nomination for the Presidency OF the
United States, an honor to which your
distinguished abilities entftle you to
aspire. You refer somewhat regret
fully to the convictions of Southern
Democrats on the money question, ana
suggest the postponement OF any &C
ton for the restoration of silver to ITS
ancient rights, until Great Britain, as
the leading state in Europe, has con-
scented to some international agree
ment on that subject.
You seem to have no difficulty IN adj
hitting that the free coinage OF silver
on equal terms with gold would be
valuable improvement upon our pres
emit financial system, but you are UNI
willing to take the supposed risk OF the
movement to restore the coinage or
silver to the condition it was ia from
the foundation of the government until
1873. without the concurrent action OF
the European States, under the lead OF
Great Britain as the great financial
power of the world.
THE SOUTHERN DEMOCRATS.
The people of the South are in dis
agreement with YOU on this PROPOSE
ton which. seems to be the only one
of a material character about which
we do not substantially concur in your
views.
This being the only barrier which
seems To divide US in opinion or action
on this vital question, it is proper, at
least. that we should frankly discuss
the point whether your objection to
the attitude of the people of the South
ern and Western States on the silver
question is valid
For thirty years past no man IN the
South has had the opportunity, which
YOU enjoy, of withholding his name
from consideration as a nominee for
the Presidency or Nice-Presidency, nor
will such an opportunity present itself
to any Southern Democrat for 4
time yet TO come.
Your destination of such an honor
leaves you on the same footing of dis
interested freedom of opinion that the
men of the South have, therefore, the
discussion of your views, as they are
expressed in Your letter, can be made
without any coloring of personal mo-
tiyes.
STEPS TOWARD AGREEMENT.
In Congress, in executive commnni-
CATIONS, and in the press, this subject
OF an international agreement about
gold and silver. in its various phases, has
been the topic of earnest discussion,
and it has been the basis of executive
and legislative action, under which
commissioners have been sent to Eu-
rope to consider the subject in an
academic way. But no commission has
been given the power TO bind the
United States, or any other govern
ment, TO any agreement.
The nearest approach TO any definite
or conclusive action that Congress has
made, is still unexecuted, and has not
received any recognition from the
President.
According to the statements in your
letter, as to the growing anxiety of
some of the European States for some
agreement, and as to the opinions OF
scientific men in favor of such a move
ment, the hesitancy of the nations in
taking action must have some deeper
root than mere expediency. They have
either found themselves under the inn
movable ban of British obstruction, or
else they dread THE effect of an alli-
ance in financial policy with the other
powers in Europe. Those powers are
in constant antagonism, and the dread
of war is ever present in their councils.
They hesitate to place the control OF
nloney-the chief power in European
wars-in the hands of a government
whose power lis not altogether Euro
pean, but is found on the seas and IN
her colonies in distant lands.
1t seems to be a very vague and dist
ant hope that Great Britain will ever
yield to European or American States \
real participation in her financial pol
icy by treaty agreements. In all these
discussions and resolutions in our
country, no one, so far as | have seen,
has stated, in outline or formulated
in detail, any plan for such an inter
national agreement as you suggest as
being a sufficient or imperative cause
for the further delay of action by the
United States.
ASKED TO SUGGEST A PLAN.
You will pardon me for saying that
it is due to the occasion that some one
who invites our concurrence, should
present such plan, at least in it's gen
erdl features.
If / should therefore assume, as do
that no American statesman can pre-
sent such plan as our government
viii ever consent to adopt, or can agree
to, under our Constitution, you will
only regard the assertion as a friendly
challenge to your conceded abilities,
that you will state the plan which you
would advise the Democracy to accept
as basis, at least for an international
agreement.
In the absence of such statements,
nothing tangible is presented for our
acceptance.
j Will state some of the reasons that
cause me to conclude that any interna-
tional agreement for the regulation of
the value of gold and silver, whether
as coin or bullion, is impossible be-
tween the United States and trans
Atlantic countries.
TREATY AGREEMENT IMPOSSIBLE