The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1896-08-21


siderable quantity for subsidiary coin
age Il
1--WE will be required to coin only that
which Is not needed elsewhere; but IL
we stand ready to take and utilize al
OF 1t, other nations will be compelled to
buy at the price which We fix. l am
firmly convinced that by opening our
minis to free and unlimited coinage at
the present ratio we can create de-
mand for silver which will keep the
price of silver bullion at $1.29 an ounce,
measured by gold.
Our opponents cannot ignore the
fact that gold is now going abroad in
spite Of all legislation intended to pre-
vent it, and no silver is being coined to
take its place. Not only is gold goisg
abroad now, but it must continue to go
abroad as long as the present financial
policy is adhered to, unless we con-
tinue to borrow from across the ocean,
and even then we simply postpone the
evil, because the amount borrowed, to-
| gether with interest upon it, must
be repaid in approaching dollars. There
Is only one way to stop the increasing
flow of gold from our shores, and that
is to stop falling prices. The restora-
ton of bimetallism will not only stop
falling prices, but will-to some extent
restore prices by reducing the worlds
demand for gold.
"Those who deny the ability of the
United States to maintain the parity
between gold and silver at the present
legal ratio without foreign aid point to
Mexico and assert that the opening of
our minis will reduce us to silver
basis and raise gold to premium. 1t
is no reflection upon our sister republic
to remind our people that the United
States is much greater than Mexico in
area, in population and in commercial
strength. 1t is absurd to assert that
the United States is not able to do any
thing which Mexico has failed to ac-
complish. The one thing necessarily
in order to maintain the parity is to
furnish a demand great enough to util-
ize all the silver which will come to
the minis. That Mexico has failed to
do this is no proof that the United
States woula also fail.
ut is also argued that, since a num-
Der of the nations have demonetized
silver, nothing can be done until all
of those nations restore bimetallism.
This is also illogical. 1t is immaterial
how many or how few nations have
open minis, provided there are sufli-
cient open minis to furnish monetary
demand for all the gold and silver
available for coinage.
1--WE are told that the restoration of
bimetallism would be hardship upon
those who have entered into contracts
payable in gold coin, but this is mis-
take. 1t will be easier to obtain the
gold with which to meet gold contract
; when most of the people can use silver
than it is now when every one is trying
to secure gold.
, "In conclusion, permit me to say a
word in regard to international bimet-
allism. The advocates of free coinage
have. on all OCCASIONS, shown their will
, ingness to cooperate with other ma
! tons in the reinstatement of silver, hut
? they are not willing to await the pleas
I ure Of other governments, when i'm
, mediate relief is needed by the peo-
Pile of the United States. How long
: must we wait for bimetanism to be
: brought to us by those who profit by
recommendation? If the double stand
I ard will bring benefits to our people
who will deny them the right to en-
q Joy those benefits? We shall not offend
p other nations when we declare TIL
right of the American people to govern
, themselves, and, without let or hind
rance from without, decide upon ever!
I question presented for their considera
= ton. In taking this proposition w
simply maintain the dignity Of 10000,
O 600 citizens, who are second to none il
-. their capacity for self-government."
n He concluded with the following alp
8 peal to the citizens of the great stat
f whom he was addressing:
: "Citizens of New York: have ira
Il veled from the center of the continen
9 to the seaboard that l might, in tn
S very beginning of the campaign, brin
q you greeting from the people out ives
ana SOutH, anu dsSuIc you thaI ehSi
desire is not to destroy, but to bull
up. The advocates Of free coinage be
u lieve that, in striving to secure the i'm
/ mediate restoration of bimetallisn
they are laboring in your behalf a
we'll as in their own behalf. A few G
n your people may prosper under presen
n conditions, but the permanent welfar
of New York rests upon the producer
)! of wealth. The great city is built o
II the commerce Of the nation, and mus
er suffer If that commerce is impaired
l. Production of wealth goes before III
/ exchange of wealth. You cannot a.
3 ford to join the money changers ]
II support of financial policy which, de
s. stroying the purchasing power of tn
t. products of the soil, must in the en-
ID discourage the creation of wealth"
'h Tie delivery Of Mr.. Bryan's speec
e. consumed nearly two hours, and II
N finish was greeted with hearty al
lie plausc. The chairman introduced til
'g vice-presidential nominee, Arthur Sew