Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1896-08-22
q ,edseming such obligations II either
ailver coin or gold coin"

% ledeeminE sich an oNNs
silver coin or gold coin
Cause of tho Drain on the Reserve.
II Is constantly assumed by some that
the United States notes, commonly called
~rreenhacks. and the treasury notes ls-
sued under the act Of 1890, are responsihle
FOR the recent drain upon the gold re-
serve, but this assumption is entirely Win
out foundation. In support OF VIZ assers1
Secretary Carlisle before the COMMITTEES
on appropriations, January y, 1872, IN
which the secretary said II the polcy OF
reserving to the government az the pc
ginning of resumption the option OF re-
deemlne In gold or silver all its paper pre-
sented had been adopted he thought II
would have worked beneficiary. But tne
secretaries Of the treasury, from the ne
ginning OF resumption, hac pursued a pohi,
option of the holder of the paper, ana II
any secretary had afterward attempted
10 change the policy and force silver upon
a man who wanted gold and gold upon IA
man who wanted silver his Judgment was
that II would have been very disastrous.
This, MI. Bryan argued, showed that the
fault does not lla with the greenbacks
and treasury notes, but rather with the
executive officers who have seen ut TO
surrender a right which should have been
exercised for The protection OF the inter-
ests of the people. If the government
SHOULD retire IT'S paper and throw upon the
banks the necessity of furnishing coin re-
demption the banks would exercise the
right to furnish either gold or silver; In
other words, they would exercise the OPP
ton Just as the government ought to ex-
erciJe II now
me argument that n silver dollar Is
heavier thar q gold dollar, and that. there
fore, silver Is less convenient to carry in
large quantities, is, he said, completely an
swered by the silver certificate, which Is rs
easily carried as the gold certificate, or
any other kind of paper money. There
was much elaboration n illustration in
the points presented In this part OF MT.
Prvan's speech.
when Gold Goes Abroad
In answer to the charge that gold will
20 abroad II must be remembered that no
gold can leave this country until the owner
OF tie gold receives something in return
for it which he would rather have, In
other words, when gold caves the country,
those who formerly owned II will be bene-
fitted. There is no process by. which we
can be compelled to part with our gold
against our will, nor is there any process by
which silver can be, forced upon us without
our consent. Exchanges are matters OF
agreement, and If silver comes TO this conn-
try under free coinage it will he at the in
~Vitarion of some one in this country who
win give something in exchange forit.
alllsm would be a hardship upon those, who
save entered into contracts payable IN
gold coin, but this is a mistake, 1t will he
easier to obtain the gold with which to
meet a gold contract when most or the
people can use silver than 1t Is now, when
everyone IS trying to procure gold,
A New and Vital Issue.
There is another argument to which |
ask your attention. Some of the more
Jealous opponents of free coinage point
10 the fact that certain months must elapse
between the election n the first regular
session OF congress-, and assert, that DUR
ing that time, In case people declare them
will be withdrawn and all mortgages fore
closed. II these arc merely prophecies in
dulged in by those who have forgotten the
PROVISIONS OF the constltution, It VIII re
dent Is empowered 10 convene congress in
extraordinary session whenever the public
good requires such action. II In Novem-
Der the people by their ballots declare
themselves In favor of the immediate res
~toration of bimetallism the system can De
.inaugurated within a few months.
If, however, the assertion that loans vii,
be withdrawn and mortgages foreclosed
ps the people may believe to be necessary
for the preservation of their rights, then
a new and vital issue is raised. Whenever
it Is necessary for the people as a whole
to obtain consent from the owners or
money and the changers OF money before
they can legislate upon financial questions,
we shall have passed from Il democracy
to q pIutocracy. But that time mas not
yet arrived. Threats and intimidation VII
be of no avail. The people who, In l77b,
rejected the doctrine that kings rule by
right divine will not, in. this generation,
subscribe to a doctrine that money is ON
Not Opposed to International Agreement.
Concluding with a reference to interna-
tional b~imetallism, Mr.. Bryan said: we
---- 80 4a.N ga - ., II, avn tjnHn nDInn-
ment looking to the restoration of bimet-
tllism throughout the world. The advo-
of free coinage have on all occa-
slons shown their willingness to cooper
ate with other nations In the rclnstatc-
ment of silver, but they are not willing to
await the pleasure of other governments
when immediate relief is needed by the
people of the United States, and they fur
ther believe that independent action offers
assurance. of international bimet-
allism than servlle dependence upon for
eign aid.
We shall not offend other nations wien
we declare the right OF the American peo-
pie to govern themselves. and, without let
every question presented for their consid-
Grafton. In taking this position, we sim
ply maintain the dignity of 7O.OOo,OOo Gill
zens who are second to none IN tier
capacity for self-government,
The gold standard has compelled the
American people to pay an ever increasing
trih,lte TO the creditor nations of the world
"a tribute which no one dares to DEFEND.
! assert that national honor requires, me
United States to secure justice for all It's
citizens as well as do justice to all its
creditors. For a people like ours, bleat
with natural resources OF SURPRISING ficii-
ness, to proclaim themselves. impoten, to
a financial system suitea u tuetr
Of language to describe. We cannot M
force respect for Que foreign policy so long
az we confess ourselves unable to frame
our own financial policy.
Appeal to Citizens.
Citizens Of New York: ! have travelled
from the center OF the continent 10 the sea
that / might In the very beginning of
The ampaig bring you greeting from the
people OF the west and south and assure
you that their desire Is not TO destroy. but
10 build up. They, invite you TO accept
listen 10 those who teach the gospel OF de-
spair and advise endurance OF the Ills
you have. The advocates of free coinage |
believe that In striving to SECURE the I'M
mediate restoration OF bimetalllsm they are
laboring in your behalf as well as in their
own behalf. A few of your people may
prosper under present conditions, but the
permanent welfare of New York rests upon
the producers OF wealth 4n,s b,eat tItyl
I'd must suffer IL that commerce Is i'm
liIed. You cannot sell unless the people
I've money with which TO buy, and they '
.nnot. obtain the money with which to ,
~ unless tney are able to sell their prod :
It's at remunerative prices. Production
wealth goes before the exchange OF
ealth; those who create must secure a
oft before they have anything. TO share
lth others. You cannot afford to Join =
e money changers In supporting n inan- :
al policy which, by destroying the pur- s
Iaslns power Of the products of toll, must \
the end discourage the creation of -
ealth, I
ask, I expect your cooperation. Ii is /
ne that a few of your financiers would l
shion n new tlgure-a figure represents !
4 Columbia, her hands bound fast with (
g east, appealing. for assistance to those Z
live beyond the sea-but this figure 4
n never express. your idea of this ra-
IN: You Will rather turn for Inspiration 4
the heroic statue which guards the en- 4
to your city-.a statue as patriotic
conception AS It Is colossal in propur- 4
ms; it was the gracious gift OF a sister /
public n stands upon a pedestal which
,ure-Liberty enlightening the worlds !
alternate OF the missionsof our nation !
other nations of the earth. With 1
government which derives its powers /
all the people freedom of conscience \
eedcm of thought and freedom OF speech ]
equal rights to all, promises \
privileges to none. the United States 4
" ~ ~ eAuiipie III all tnat Is good md J
e Leading spirit In every movement which \
y for Its object the uplifting Of the hu- 4
an race.
Gewall Notified.
Gov. Stone. at the conclusion, turned to I
r. Arthur Sewall, the vice presidential I
indicate, and In q few words formally no. 4
led him OF his nomination. Mr.. Sewal J
spopded briefly. accepting the honor. '
the conclusion Of his remarks the meet /
q adjourned.