The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-09-02
A GOLD BOOMERANG.
Gold Men Find DR.. Arsnas Free Silver
Advocate.

Gold Men Find DR.. Arends Free silve,
AdVfcate.
WASHINGTON, Aug. 24.-Prof. Otto
Arendt's statement in Saturdays Jour
nal is more than "a blow between the
eyes to the gold |monometallists who
are mas9uefading as international bi.
metallists. So fond have they been ol
iquoting DR.. Arendt as stanch up
holder of their views that they have
lauded him to the skies, and have held
him before the country as The one
great authority on bimetallism before
whom they bent in alteration and
whose word was final on the whole
subject.
Now, too late. they learn that he is
q strong advocate of free coinage OH
the part OF the United States as the
one measure sure to forcs the hands of
Europe's money kings from the throat
of silver. What course they can pur.
sue to back water from the brink OF
tue logical Niagara before them can
not be imagined.
The Democratic leaders are swift to
see the advantage before them. DR..
Arendt's mastery analysis of the stu
alton will be sent to every part of the
| United States as campaign document,
iu both English and German. The
Washington Post, "a stanch gold paper,
but one given to puncturing sham ar
guments and false logic, reprints DR..
Arendt's article in full this morning
with an editorial comment.
$50 much has been said about the
opinions and utterances of DR.. Arendt.
the famous German writer on finance"
says the editorial, "that it occurs to us
to reprint in the Post this morning the
full text of letter he has just written
to the New York Journal. His world
wide reputation as a student of the
question, his brilliant attainments, his
profound and varied information, all
conspire to lend peculiar interest to
this product of his pen. Mr.. Whitney
has just quoted him in refutation of
the free coinage heresy. The gold
standard newspapers delight in falling
back upon him as the most potent des.
troyer of the silver fallacy.' Repub.
lican and assistant Republican speak.
ers use him as stock for their more
or less inspired outburst. Now, it will
be as we'll to see what DR.. Arendt has
to say for himself.
"Of course, we are all bimetallists.
Mr.. Whitney, Mr.. Belmont, Mr.. Pier
pont Morgan-alI the really important
leaders of the anti-Bryan movement
declare with fearful favor that bimet
allism is the one dream of their lives,
the dearest and the sweetest thought
they harbor. What they wriLhe under,
however, what tortures their unselfish
souls, is the knowledge that the Uni.
ted States cannot undertake bimetal-
lism alone without causing ruin to the
noble workingmen and spreading Pc
nury among-the dearly beloved mass
es. Otherwise, the Belmonts, the Nor.
gans, the Rothschilds. the Bleichrodes,
the Lizards, the Ickelheimers, and all
the rest of them would welcome BIZ
metallism with an ecstasy too deep for
words.
"But it is not possible. ASK DR..
Are1dt; don't believe US, if you don't
want tor they say. Go and ask SCI
entists like DR.. Arendt, who have
made the subject the study OF their
lives
"And so, at last. somebody has ask
ed DR.. Arendt, and the professors re.
| ply is given in full elsewhere in this
edition of the Post. We have advoca-
ted the gold standard, not because
England or any other nation has
adopted it, but because we consider it
as the best standard for ourselves, and
because we fear the effect OF freq aad
unlimited silver coioage upon our do.
mestic welfare. DR.. Arendts views,
therefore, are OF no great consequence
to us, but are given 10 the public sim.
Iply in accordance with our settled
policy of presenting facts to our read
ers. antagonizing perversions and fall
lacies and castigating hurlbugs and
sharpers wherever we may find them.
"Dr. Arendt says that free coinage
by the United States will force bimet
ism upon Europe. He predicts an
international agreement as the result
of Bryan's election and halls that
consummation as the vanguard of
universal prosperity and peace. New
York Journal.