The San Francisco call., 1896-07-24
TWO PROPOSITIONS,

Mr.. Bryan continues to inform the pub
lie, from one to three times a day, that
'sthe Republican party declared that the
gold standard should be maintained until
something better could be substituted for
it" That something" Mr.. Bryan says.
is "bimetallism, which means that 1.-THE
Republican party is for bimetallism."
The Republican party Will not object to
being called "bimetallic party" for that
is exactly what it is. but it does not pro-
pose to disestablish the present monetary
system until there is something better
well In hand TO substitute for it. Mr..
Bryan's plans differ from the Republican
plan of securing bimetallism, in that he
would first overthrow the existing system
and then set about finding something TO
take its place, and. meanwhile, let COM
merce and industry shift for themselves.
But Mr.. Bryan is unfair, in that he does
not ada, when he says the Republican
party is for bimetallism, that its platform
Aeclares very emphatically that the party
sis unreservedly for sound money" He
could not do that, however, for he would
then admit that his party is for unsound
money, which it is. In quoting from the
Republican platform Mr.. Bryan's purpose
is to show that the difference between his
party and the Republican party on the
money question is in choosing methods to
reach a common end, and in that he is
quite right. His party is for bimetallism,
as is the Re publican party, bat his plan
would work to first establish silver mono
metallism by driving gold out OF the
monetary system. He would try to create
a value for silver twice as high as the
commerce of the world is willing to admit
it possesses.
Mr.. Bryan denies that supply has any
thing TO do with values. They should be
fixed by governmental edict. He refuses
to see that with total worlds silver pro-
duction Of 81 ,000, 900 ounces in 1878 the sill
yer in an American dollar had market
value of 81 03 TO ST. 04, and that in 1895 the
enormous production of 165 900, 900 ounces
were put upon the market and that the
price fell to So cents for the quantity con-
tanned in silver dollar, because of the
great increase in the supply of white metal.
Had Mr.. Bryan's theories anything prac-
tical in them the increase in ounces pro-
duced would not have been confronted by
a decrease in value. In 1894 the United
States produced, in round numbers, 170,-
0O0, 600 bushels of potatoes, which sold al
an average price of So cents bushel, but
in 1895 the production ran up to over 400,
900, 600 bushels, and the price dropped to
26 cents bushel. Had Mr.. Bryan been
President in 1895, with the machinery oi
Government running in harmony with his
economic theories, potatoes should have
sold at 53 cents a bushel instead OF 2t
| cents, and the amount of white metal con-
tanned in silver dollar should have been
worth 81 03 to 81 o. instead of So cents. Il
the Government by its fat can control the
price of one product of the ground 1t GER
tainly can control the price of all product:
of the ground. Potato-growers should
exact a pledge from Mr.. Bryan that he
will not overlook their products while en-
gagged in doubling the price the product;
| of hills and mountains.
The Republican party does not believe
| it can, nor does it intend to try to regulate
the market price for gold, silver potatoe:
| or any other article, but inasmuch as
| larger volume of redemption money i:
needed to meet the increasing require
ments of the world commerce it propose:
| to bring all parties in interest together to
provide for this increasing money demand
by adding silver to the monetary system
now prevailing under an agreement thaI
/ shall make gold and silver dollars inter
changeable on their own account where
ever they meet in any channel or avenue
of trade, traffic and commerce. This woulC
be bringing the two metals together upor
a common basis OF employment which
would make bimetallic and the only true
bimetallic monetary system. This plar
does not contemplate the Government
| fiat, but a mutual agreement between
users of money. Bimetallism, as advo
Gated by the Republican party, is com
mon, everyday, wide-awake business
] proposition, and it is neither mysteriou
nor impossible.