The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-12-04
QUESTION NOT SETTLED
Silver Sentiment Strongest
Where Longest Considered.
A FOUR MONTHS CAMPAIGN
Figures Show lnconclusive Result
People viii Now Study Question
More DeeplY--DemocracyU Unit
ed For Future Contest.

which are gwen DeloW. Inc SUBJECT u
the paper Is: HAS the Election Settled
the Silver Question:"
"The battle" says Mr.. Bryan, be
tween bimetaIlism and the gold stand
ard is on, and whether the campaign
Just closed proves TO have been decisive
engagement or but skirmish, it will
satnd out conspicuously in American his
tory. On the third of November, 1896,
the American people sat in judgment
upon the greatest issue ever submitted
to them in time Of peace. Every one who
studies the money question: either from
the standpoint Of those who desire bi-
metaIhsm or from the standpoint of those
who favor a gold standard, must recog-
nize in it question which transcends
in Importance any other economic ques-
ton which can occupy the attention of the
American people. When we determine
the kind and quantity of money we de-
termine the level of prices, and the level
of prices concerns every family in the
land. For the first time during this
generation the money question has been
the paramount issue of 4 political cam
paign. For twenty years past the finan-
ciers have succeeded in writing the finan-
cial plank for the conventions of the two
leading parties and then have controlled
the Presidential nominations. The plat
forms have generally been sufficiently
ambiguous to bear a double construc-
ton, and the candidates have usually
been known as safe men," according
to the definition given to that phrase on
change. As a rule, the moneyed inter-
ests have looked after our financial poll
cy, while the rest of the people have
quarreled over the tariff The Republi-
can party met in convention last June and
attempted to again give the tariff ques-
ton pre-eminence, but when the Demo
cratic, Populist, and Silver parties a.
greed in declaring for the free and I'M
limited coinage of gold and silver at the
present legal ratio of is TO i. without
waiting for the aid or consent of any
other nation, the Republicans found it
impossible to confine discussion to the
tariff issue. In fact, the silver question
soon absorbed public attention to such
an extent that it became practically the
sole political topic considered throughout
the country. People discussed the pre-
sent legal status of the silver dollars,
the various laws affecting silver, the
amount of production, the cost Of pro-
duction, etc, etc. To the world at large
this nation presented the interesting and
inspiring sight of seventy millions of
people thinking out their own salvation.
Men who had never spoken in public be-
fore became public speakers; mothers,
wives, and daughters debated the relative
merits of the single and the double
standards; business partnerships were
dissolved on account of political differ
ences; bosom friends became estranged;
families were diyided-in fact we wit
messed such activity of mind and stirring
of heart as this nation has not witnessed
before for thirty years. Foreign news
papers daily reported the progress of the
campaign and students of political econ
omy came from Europe to obtain closer
view of the struggle 1t is probable that
the money question has been studied with
in the last four months by more people
than ever before in all the history OF the
world simultaneously engaged in its con-
sideration. And what was the result of
that study? Temporary defeat, but per
manent gain for the cause of bimetal-
ism. 1t is a significant fact that the
silver sentiment was strongest where the
question had been longest considered.
In the West and South, where the people
had been actively engaged in the discus
sion Of bimetaIlism for several years, the
majority favored the restoration of the
money of the Constitution. In. the East
ern States where, until recently, there
was practically no general consideration
of the money question, the gold sentiment
was strongest. There, the people had,
up to the opening Of this campaign, heard
only one side. In those States both par
ties were against free coinage; nearly all
the leading newspapers were against 1t;
the banking interests were against it;
the corporations were against it; and it
was also opposed by those influential
members Of society who live under the in
fiuence of the financial and corporate in
terests."
Mr. Bryan speaks of the heroism dis
played III the conduct of the men, who
this year, took up the cause of bi-metal-
ism. He speaks of the odds which had
to be encountered, specially in Chicago,
where the press pervading nealry all the
Upper Mississippi Valley was solidly
massed against Democracy's contention.
Continuing to dwell upon the obstacles
presented he says: Throughout the en-
tire Union the trusts, corporations, and
banking interests were for the most part
organized against silver, and these in
terasts could act in concert on a mo-
ment's notice. while prompt cooperation
was difficult, if not impossible, among
the masses The campaign did not af-
ford sufficient time to bring clearly be-
fore the people an important truth which
investigation must reveal, namely, that
on the money question the interests of
the money-owning classes are not identi-
cal with the interests Of the wealth
producing classes. A dollar which in
creases in purchasing power is an adj
vantage to those who trade in money
and to those who hold fixed investments,
but it is an injury to those who owe
money and must purchase it with the
proceeds Of toll. 1t must be evident,
therefore, that the people Familiarity
known as fnanciers cannot be trusted
TO frame a financial policy for the whole
people unless they are entirely free from