The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1896-06-26
THE WORDS OF A STATESMAN.
WIN, &. WHITNEY REVIEWING THE
SILVER QUESTION.

nimseIfu Bimeiaits,. He Shows How
Free Coinage by This Motion Alone
would Discresiit and Defeat the Caus,
While the True Basis. intern",ionm
Agreement Is Nearer Than Ever BEFORE
| Argues with the Democratic Party
for Rational Views.
william G. Whitney Sunday sent
the following to the press
"Far too great importance has been
attached to my decision to go to the
Chicago convention. My decision to
stay was simply based ON the duty OF
every person who believes in the party
or its principles to stand by and lend
his aid and take his chances when a
great crisis is upon it. There can be
no question but that a great crisis
upon the Democratic party. Funda-
mental differences of principle exist in
side the party.
The great question to my mind is
whether the party meets in convention
now, rs in 1860, with issues ar differ
enecs that are for the moment irrecon
cilable. For the last ID years leaders
of public opinion in the South and
West have been advocating as the
great remedy for existing ills the free
coinage of silver 10 to 1,with or with
out the co operation of other nations.
1t has come to be believed in there
quite generally and conscientious.y.
"Our people, on the other hand, en-
tirely disagree with this view and be
lieve almost universally that it will
bring geneal rum to the business and
prosperity of the country. 1t is
deem ed new doctrine when proposed
to be incorporated into the platform OF
the national Democracy. 1t is true
that in no previous platform of the
party can ii specifically be found. Con-
sequently no party obligations hereto
fore assumed oblige them to subscribe
to It, Under these circumstances, II
the results of the Democratic conven-
tion should be 10 establish as the is
suse Of this campaign the free coinage
of silver at ratio of Is to indcpend-
ent Of other nations, in the intensity OF
feeling likely to arise il is to be Sc
rousy apprehended that a disruption
of the Democratic party might occur.
Certainly no substantial following
could be secured for the doctrine
among eastern Democrats. Thoy might
not vote the Republican ticket for 9th
or reasons believing that the Republi
can party stands for other issues than
are detrimental to the country, but
the Democrats in the East would not,
in my opinion, vote for 1t.
"This movement for free coinage |
to have for its object the rs
Establishment and maintenance of gold |
and silver as the money Of the coun |
try, upon equal terms with each other |
and at Il parity of purchasing power.
II. by the proposed measure. that OBJ
ject could be secured there would be
no substantial disagreement in the |
party. Every national Democratic
platform that has heretofore spoken |
lpon the subject has declared for both
gold and silver money. II in our ira
litional policy. But the maintenance
II the double standard at the present
Ime is not a question of desire III is
question of ability. The commercial
'alue of silver has declined greatly in
he markets of the world.
Whatever the causes are and who
yer i s to blame, the fact is that silver
las declined, and free coinage now at
q To is the same as paying for all
he silver in the world about twice
THAT it is selling for in the market.
l
,aid in gold. And il would seem
lain that if we, under these condi
ions, open our minis to the free coin
&c of silver and gold at ratio of
vaIue which is largely at
ariance with the commercial value of
he two metals, we must take the entire
liver surplus ourselves, and alone
it's parity with gold, or else
fe shall 90 TO Il silver basis.
France in 1873 closed her minis {
against silver and abandoned this eX
eriment. deeming herself unequal To
he task alone. and at that time il was
luch: less difficult, for silver was then
I par with gold AT the ratio in use {
nd even England's minis in India
ere open To the free coinage of sill
En- If the experiment OF maintaining
ne parity of the two metals at coin !
ige standard was difficult then it I
onld seem 10 be positively hopeless !
ow without international agreement. {
Germany France, Belgium, ltal, and |
ustrja believe in a double standard I
nd desire to establish it, but no one. |
10 or three Of them deem themselves I
able To maintain the double standard,
V en- with the cc.pnHtion Il te q
niteS States. If the result of the :
easure proposed would be to carry us
silver basis it is not felt here that {
Ich proposal would be in line with d
re principles OF the Democratic party q
{ is not the Joint standard with the {
urchasing power of the dollars al par i
y with each other, but it is changing
'Om one standard to another and that
mango being to deprecated coin. |
A nd it is also felt, aside from the Q
)sence of any Democratic principle to Y
ustain, that you cannot have such S
of values as woulG come s
rom changing from gold TO a silver a
asis without such shotk 10 conf |
ence, the boarding of gold and con g
action of your available circulating |
edium as would bring, in the opinion c
our people, the worst panic and dis u
ess we have ever seen in this coun- t
y. n
The creditor classes are prepared for e
Their obligations, mortgages, rail $
'ad and otherwise, aIe quite generally b
ayable in gold. Debts would still il
ave TO be paid in gold, but wages in o
liver, the sufferer, as usual, being the u
orer classes. i
Ihls movement, purporting to be u
the interest of Joint standard, b
ONES at a most inopportune time, in fl
y opinion. There never has been a
me when the prospects of interna
nnal action favorable to the joint