The record-union., 1896-08-09

ugntlnS Tor principle he thinks r,ght.
A poor devil of Georgia editor does
not have any sacrifices to make, while
this rich Maine man does. Which is
entitled to the most credit with a be-
never in free silver?
ABUSE, NOT ARGUMENT.
Los Angeles Herald: In his Omaha
speech Candidate Bryan made one VAL
liable contribution to an intelligent
discussion of the campaign issues, says
the New York World" This is his
declaration that as during his past
campaigns he has conceded to his op-
pcnents the same honesty of purpose
that he has asked them to concede to
him, he will continue the same policy
now. This is the only reasonable basis
of discussion. Abuse is not argument.
1t renders argument impossible. AS the
pending campaign must be largely a
campaign of education, and as educa-
ton means discussion, all right minded
people vii expect to have the discussion
of the issues carried on without the
embarrassment of abuse.
AGAINST SILVER
Los Angeles Times: If our currency
We're placed upon silver basis to-
morrow, the value Of the metal in
silver dollar remaining at about fifty
three cents, every person having in his
possession at that time one or more sill
Yer dollars. United States notes green
backs), silver certificates, Treasury
notes of 1890 or national bank notes,
would lose forty-seven cents on the
purchasing power of each and every
dollar of such currency thus held; for
he would find, upon attempting to pur-
chase a given commodity with such
dollars, that the price had been ad-
vanced to cover the depreciation of the
dollar. Every dollar of gold coin. how
ever. would retain the same purchasing
power as it now has. The premium
on gold would be about eighty-nine
cents.
Who would get the forty seven cents
lost by the holders of the deprecated
dollars? If the person holding such
dollar had exchanged for it something
worth 100 cents, the person with whom
he had made the exchange would plain
~ be the gamer by forty-seven cents. If
a man gave labor worth 100 cents and
received in compensation a dollar worth
only fifty-three cents, the employer
would gain forty-seven cents by the
transaction. A debtor who should pay
off a debt in fifty-three- dollars,
which had been contracted in 100-cent
dollars, would clearly gain forty-seven
cents on each dollar by the transac-
ton. A man who had borrowed 100
cent dollars, if he could repay the loan
in ty-three-cent dollars, would gain
forty seven cents on each dollar.
A WORD FOR THE BANKERS.
Los Angeles Express: 1t is quite the
popular thing nowadays, and particu-
larly since the PopuIists have assumed
control of the Democratic party and
given it an entirely new platform, of
what are termed it's principles" to de-
nounce the banking interests OF the
country as absolutely selfish and grasp
ing and completely dishonest. Not in
fequently we hear the statement made
by people who should know better. and
sometimes the statement finds it's way
into print, in times of commercial stress,
that the bankers are seeking to produce
panic. Banks and bankers perhaps
do unwise things sometimes, which tend
to produce uneasiness and distrust, but
that they ever wish to cause a panic
reasonable, because in such times they
are themselves in the position of great
est danger and most likely to be ruined
During the war of the rebellion the
banks and bankers of the country, as
an interest and profession, acted with
conspicuous patriotism, and stood by
the Government in such a way as to
fortify the credit and solidify and
r-t1 lofl lnr &c fin ~,
this they strengthened their own posi-
tion and eventually profited by their
action in increased business resulting
from the success of the national arms
and increased prosperity and security
is not to be denied. But that fact does
not remove the merit of their action at
the time, when it involved serious
chances.
The action of the leading banks of the
country at present in advancing to the
Government large proportion of their
own gold reserves in order that those of
the national treasury may not become
depleted, is not only good business pol
ICY but it rises above mere sordid con-
siderations to the level of patriotism.
Their action has infused a spirit Of con-
fidence throughout the country, which
conventions at Chicago and St. Louis
Of the Democratic and Populist parties
If the bankers, aided by the good sense
OF the people, can tide the country
over safely until after the November
elections, they will have done the people
and themselves, as we'll, vast and in
calculable service. If Mckinley is then
elected, as he undoubtedly will be, there
viii be an immediate return of the con-
fidence and favorable revulsiou in pub
lie sentiment, and a rapid return to
commercial prosperity. The fear of
possible Democratic success is to-day
the shadow that hides prosperity.
PROTECTION.
Oroville Register That it is protec-
tion and not gold or silver that regu-
lates mems wages may be seen from the
fact that bricklayers, for illustration,
get S21 a week in this country, yet in
Belgium they earn but 81 80 week, in
France So 70, in Germany 81 20, in Eng
land 81 90 in Spain So so and in Switz-
erland So 20. None Of these are what
are termed silver countries
THE PROTECTIVE PRINCIPLE.
Redding Free Press: Blaine, in his
book ("Twenty Years in Congress"O.
conclusively shows that every time
there has been an abandonment of the
protective principle, a financial crisis
has come upon the country. In speak
ing of a period of seven years prior to
the adoption of the tariff of 1924,
Blaine says: "All forms of industry
languished. Bankruptcy was wide
spread and the disaster between 1917
and 1924 was perhaps deeper and moro