New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-16
vopx NAVY rpmNr WEDNESDAY SEPTEMBER PAGES

lev tariff failed to yield sufficient revenue ana e l
Is has sen see could there T have in 5
a surplus Of coin to maintain com gnd
Xii the silver bullion then in the Tresf Inw was
purchased uhde ron ns and only used If required to
redeem the sherman notes issued In III ~ those
silver at T ndad Pree ccnt silver dollars It would
have absurdly unjust to- conppeI rce FOR them
nnSted with his silver at the gold price TO ,aK nonn
payment silver coins worth on'S treasury 20 deposited
there by tho holders Ii sxchans sertcaes Of de-
post was Treasury owner or any,' that con-
Than ledges or trustee or ontry kept its
tn mel ON the size Of the gold redemption re-
serve
PEFFERs IGNORANCE
The Popullst sIlverites and the Populs' no'"o
cra,s contend It was not good and patriotic A'ne''
! can business men who wished TO eNcha"sc So
backs for gold and wished gold payment pu' ,"",
II vas n class whom Senator PETER has deScrIoeu
as the spectators and gold gamblers Il, 80
York and London" II Senator fsner S 49,, ROM
NC thorough knowledge Of the SUBJECT dDotu
n.h,cb ne was then addressing the Senate, ne VIII
discover that the usual gold wa NOT ' caused
atelv by the action of individuals. re ms ny u
clared that ninety-one onc.hundLIsu nns n tbey
before their EYES and hence Ge not H ak k' for Sod
of the people OF the eountry dI nT Classes and
therefore II the Treasury exercise an 'o'
The law up the sherman act OF lSSO sad noun,
Ing OF a Government option" and declared ,, IL
! then only in respect to the sherman no,es notes, Ing
! Government began in 1879 redeemng In gold, ana
has never ceased The laws Of lS,O 1919 ah a ois
| Revised Statutes Of 1874 under which our bonds
have been issued do not permit the Interpretation
that they can be paic. principal or Interest IN IN
/ of the pr, sent standard value" Coin means
cGn dollars their sDdysi0ns nnS m havr It's
statutory and usual meaning. None or me WotuS S
be discasded dhe eTcal r wora nnsness nor
denomination" can be substituted The intention
used. Secretary sherman was right pecembcL 3
1877. when he wrote to Congress-: II me market
gold dollar. forced payment In the new coin is a
population of part Of this debt -
made the Interpretation Of that law an issue in
the pending election. Mr.. Bryan announces that
verse the previous Interpretation. According to
Mr. Bryan. gold standard depends solely on one
a simple transaction of sale OF bonds that was
not Its i was va an n c oG n
the price Of about 81 so an ounce but on the con-
vcred the Treasury at the risk and expense Of
the sellers and that the sellers. By selling bills on
against the Withdrawal Of gold" Those two con-
ditions, were onerous and formidable Few men
TO execute them They were punctually and com
pletcly executed.
Remember that the Government with Popmlist
approval purchased from 1890 to 1893 silver bullion
ara paid for it with nonnt hearing fu legal
ch lscd gold coins and paid for them with interest
transaction because It prevented a fall. first to A
silver, and finally to ? greenback basis The Treas
felt the benefit of the contract The United States
Government was rescued from the disgrace and
humiliation Of repudiation. The American con-
tractors dd patriotic service. which Is being
public
At time in his speech when Mr. Belmont
mentioned Bryan's name. a small gang OF Popo- |
cratic rooters who had kept themselves con-
cealed in back corner. opened up brief fusil |
lade of applause. They appeared 20 surprise
themselves much the sound money men, |
and were quickly hushed by a rcrnd of Kisses |
Their outbreak whetted the enthusiasm of the
audience, and the cheering for the speakers
afterward more enthusiastic than ever.
MIR. BYNUM INTRODUCED
Chairman Patterson then introduced William
D. Bynum, of Indiana. Mr. Bynum was received |
with a round of applause and thanked the aud |
fence for their cordial welcome. He said In
part:
When left home a day or so ago had no ex-
came from your fellow-townsmen. Mr.. Shepard.
Mr. Peabody, Mr. belmont ana others who had as
West in behalf OF the National Democracy | can
not buI reflect a moment on the peculiar position
for representatives OF the East to go West preach
Coming from the West to the East to preach un
sound money but II Is little strange that one
sound money and especially one Ike myself who
was reared in The fields amid the i9l5 and S;rug-
1t is great pleasure TO be with you and to address
the people OF this country are facing an important
crisis | believe that II eyer there vls time I'm the
of ate e and ou v96g T eam go ae
lbcrate before casting his vote, that time is now
weighed more heavily upon the shoulders of the
people than T. does to-day. In my Judgment, popu-
I.,r *
the result a: the election in November will deter
government shall long endure In this country. The
money question Is an important one. Ii Is Ike
eyerv other question, 1t is the simplest thing in
the world when you understand II. the most COM
pcatcd when you do not Now II any gentleman
here wishes to ask me question upon the argu-
nent | about to give YOU he is at liberty to do
not his question. shau be glad 10 admit H.
CURRENCY IN THE UNITED STATES
There is now in the United States sl6O 100000 of
money and currency This money crculates IN not
only the United States but all over the world. And
all over the world our silver dollar is worth 100
cents. What insist upon-and that is what
sound money means-is that every dollar. whether
It bc Of silver gold or paper. shall be worth 100
cents all over the world and DO not care what
Oh sound inc money! The silver in yr do G o
day IS worth only o cents The ,, Mexican dollar
more than ours contains | bought a MeAicau sill
about s. cents in London. while ours Is worth prac-
tically 100 cents. Not only Will one of our silver
dollars TWO uOHdlS, Out IL Will 40 THIS
right down I'm Mexico
Now the gold standard Is thing and gold
mOnonctallism is another thing 1t isn't the dollar
that is the standard. 1t is the pure gold ihat is in
the dollar that Is the standard (ApplauseD The
gold a gold dollar. the % 220o grains OF gold I'm a
gold dollar bears certain relation to the English
pound And so II IL all over the world. The value
Of the gold in the coin is the standard and the
coin Itself Now. that is made the standard by the
laws of trade and commerce. by the laws of supply
and demand. and you can't repeal those laws my
friends: they solid and firm and binding
upon the people as the laws OF God Himself. You
can't change them applause Mr. Bryan says
e can adopt our own financial system. Certainly
we can. There's trouble about that. but we
can't adopt own standard and trade with the
governments of the world who trading upon
different STANDARD. What we want II want to