The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-10-22

pered with without attracting attention
The monometal system of the great cred
ltor nation was thus imposed upon the
great debtor nation without debate
"Murat Halstead called it British
policy. 1t was q British policy. 1t is
a British policy today and what we ask
| is to replace the British policy with an
American financial policy.
I'm another place in his letter he OK
plains the advantage of bimetallism. He
says:
THE two metals support and regu-
| late each other The two afford an
adequate basis for an abundant curren-
cy, and neither can be coined in aid of
| the speculative schemes that are often
prepared and always opposed to the gen
| cral welfare.
Further on he says: IF either metal
rated according to fixed ratio becomes
dead, the option of payment in the
cheaper coin makes demand for it
that enhances its value and the money
unit is subjected to slighter fluctuation
in comparison with commodities than is
found in one metal. Copper and steel
together in the compensation balance
wheel of chronometer. perfectly meas
uring time through all temperatures
illustrates the principle
Not only did Murat Halstead at that
time say that the gold standard was
British policy, but he showed he under
stood the advantages of the double stan
dard, and his illustration of the two
metals used in n pendulum is an apt
illustration because it gives an explana-
ton of how they act in different tempera-
lures, and will compensate each other,
and yet my friends. we find men who
understand this question speak today as
II they never knew anything about the
science
But will go to larger men, John
Il. Carlisle. who today stands as the rep
rcscntative of those democrats who be-
lieve in a gold standard spoke on this
subject in 1878, and he said
This contest must not cease, and
Will not cease. until the industrial
classes are fully and finally emancipated
from the heartess domination of syndi-
Gates, stock exchanges and combinations
of money grabbers in this country and
Europe
That is the language, my friends, of
Mr. John G. Carlisle in 1878. And he
went even further than that. He said:
I'VE will pass measure after measure
of relief and if the president vetoes the
measures and we can not pass them
over his VOTE we will put them in the
appropriation bill with the distinct under
standing that if the people can get no
relief the government can get no money
DO you know of any more emphatic
condemnation of the system than that?
And yet, my friends, that heartless
domination still continues. The indus
trial masses have not yet been emanci-
pated. In this year we are more under
the power of the money grabbers and
the stock exchanges than we ever were
before in the history Of this country,
and. my friends, the industrial classes
need relief today as much as they ever
did or as much as they did in 1879, when
the words | have quoted were spoken.
Let me read from the republican plat
form of 1888, upon, which Benjamin
Harrison was elected president of the
United States. In the platform | find
these words:
The republican party is in favor of
the use of both gold and silver as money
and condemns the policy of the demo-
cratic administration in its efforts to de-
monetize silver
There is the republican candidate for
the presidency elected upon Il platform
which condemns the previous admins
tration on the ground that it had at
tempted to demonetize silver, and yet the
second administration of President Cleve-
land was infinitely worse than the first
one, so far as the money question was
concerned, and vet the president who
was elected on the platform denouncing
Mr.. Clevelands former administration is
advocating the election of the republican
candidate who endorses Mr.. Clevelands
second administration. | call your at
tention to these things, my friends, that
you may understand that when we stand
for bimetallism we are defending what
others have defended. When we tell you
it is good for this country, we are stand
ing upon ground that has been stood
upon before. The republican convention
only four years ago declared in its ma
tional platform that the American peo-.
pie, from tradition and interest, are in
favor of bimetallism. Do traditions
change in four years? Do interests
change in four years? No. my friends,
the traditions of the American people are
still in favor of bimetallism. What has
changed then? The republican party
has changed and has deserted bimetal
ism; has deserted the people and seeks
to fasten upon seventy millions of free
men the yoke of foreign despotism."
The last speech of Mr.. Bryan was
ilong the lines of those previously made
BY him.