The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-10-21
ISSUES OF The DAY.
More of the Fa1lacies Of
Bryan's Theories Dis
sected and Exposed.
WHAT GIVES THE DOLLAR VALUED
influence Of Supply and Demand
on Coinage
Dollars.
Would Free Coinage Make Fifty
Cents Worth Of Silver
Worth One Hundred.

The quotations in this pamphlet are all
taken from the speeches of William J.
Bryan, now a candidate for the Presi-
dency, when he was a member of Con-
| gress from the State of Nebraska. The
date of each speech has been placed in
front of the citation from it. Each ex-
tract from his speeches is accompanied
by comments. These extracts and com
ments, read in connection with each
other, will enable intelligent voters to
decide whether they believe Mr.. Bryan
to he a man of the knowledge, experience
and judgment required to qualify hin for
the high office to which he aspires.
THE DISHONEST GOLD DOLLAR.
August 16, 1851 denounce that child
of ignorance and avarice, the gold dollar
under a universal gold standard, as the
ploy. / stand upon the authority Of ev-
cry intelligent writer upon political econ
omy, when assert that there is not and
never has been an honest dollar. An hon-
est dollar is a dollar absolutely stable
in relation to all other things"
If instability constitutes dishonesty,
how can the gold dollar be the most
dishonest dollar which we could en-
ploy, when the silver dollar is still more
unstable2
VALUE OF THE DOLLAR.
Tune S, 1Ss4.-sThe value of a dollar de-
Ponds upon the lumber Of dollars"
of contradiction, that under similar con-
ditiops an increase in the volume of the
currency will decrease the value of the
dollar as measured by other kinds of
volume of currency will cause an in
crease in the purchasing power of the
dollar"
The value of the gold or silver bullion
in a dollar depends upon the amount of
bullion In the w~orld-upon the abundance
or scarcity Of the precious metal from
which dollars are coined. The amount
of bullion is the same, whether it is coin
ed or uncoined. The only way in which
coinage can affect directly the value of
the dollar is by creating a sufficient sup
| ply Of them. when the number in circu-
lation is insufficient to serve the demand
| of trade and for money as a
medium of exchange. An extra supply
of dollars not in circulation, however,
| does not affect the value of the dollar.
| because 1t has. in that case, the precise
| value of the bullion contained in it.
Money, as money, may command a pre-
| MUM when scarce; but an over supply
of money will not result in its sale at a
discount from the bullion price.
TO PREVENT APPRECIATION.
June 5, 1S94-"whenever the time comes.
| therefore, If 1t ever does, that the people
must choose between a constantly appre-
| c:ating metallic money and an trredeem-
able paper money which gives a hope of
relief, they will choose the latter system,
with all it's defects and dangers. The
choice may be avoided for the present by
the full and immediate restoration of sill
yer to its place as a coordinate part of
the metallic none of the world. Later,
if hat is not sufficient to secure stability
in the monetary unit it may be wise to
prevent the use of gold and silver for any
purpose excepting coinage"
In order to prevent the appreciation of
gold and silver coin, 1t will be necessary
to check the decline In prices of COM
modities resulting from their greater
abundance in consequence of increased
production, and this end cannot be at
famed except by arresting the progress
Of discovery and invention. Unless this
can be done, Mr.. Bryan intimates tina
he is in favor of an irredeemable paper
currency, with all its defects and dan
gers
His conception of sound finance begins
| dt-A EiAo ~ AiAC io~& tttoN SldtxlAly III
the monetary unit, IS the foundation and
the indispensable postulate of commercial
justice. This stability, he inlagtnes, can
be secured, first, by the free coinage OF
silver; or, failing that, second, by an ir-
redeemable paper currency; or, in the last
resort. by preventing the use of gold and
silver for any purpose excepting coinage 2
His ultimate remedy for instability in the
\ --x.rl 49,
lation. But it would be justified. in his
opinion. by the necessity for q perpetual
depreciation of the currency. in order to
keep pace with the falling prices of com
modities, due to better methods of pro.
duction. Because imitation of the cur
rency means depreciation of the cur
rency, he is in favor Of imitation; and. il
free coinage does not sufficiently depreci-
ate the gold as web as the silver dollar,
ne would bring down the price Of gold and
silver bullion by forbidding their en-
pioyment in the arts.
DEMAND AND SUPPLY IN COINAGE
August Is 1893.--"There is not enough
worlds metallic money. both metals
must therefore be used as full legal tender
primary money. There Is not enough OF
both metals 70 more than keep pace with
the Increased demand for, money: silver
cannot be retained In circulation as a part
Of the worlds money If the United States
ahandons it"
The stock of coined gold in the world
is about equal to that Of coined silver;
the amount Of each is estimated to be
four billions. OF the $.o00. OO0. 900 of coined
silver, ss.5oo,ooo 900 Is full legal tender in
the country where coined. OF s625. 00o, o0c
Of coined silver In this country. $3.50, o0O, 00C
A - At -