Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-06-30
The Voice of Wall Street.


out q statement in which he define.
the views of that politically rotter
borough known to the south and west
as the paradise of gold gamblers. He
admits that bimetalism is altogether
desirable, but that the United States
alone cannot establish equal coinage
coinage of silver with gold without
the cooperation of Europe through
an international agreement.
Mr.. Whitney objects to iucornor
ating into the democratic platform @
declaration in favor of silver coinage
at the ratio of 16 to 1, because sit is
deemed a new doctrine when proposed
to be incorporated into the platform
of the national demo cracy"
The laws of the country enacted
and kept in force by the democratic
party for perion of eighty years,
providing for the coinage of silver at
the proposed ratio of 1G to 1, shows
the attitude of the party upon that
question during all those years. L.
was unnecessary to incorporate into
a platform what was incorporated
into law, and which no man had the
courage to openly demand should be
stricken therefrom. The last demo
cratic national platform declared that
I'VE hold to the use of both gold and
silver as the standard money of the
country, and to the coinage of both
gold and silver without discriminat.
ing against either metal or charge
for mintage."
This declaration ia the democratic
platform of 1892 was understood by
the democrats of the south and west
to mean just what democratic law
had maintained for eighty years, dur
ing all of which the coinage had been
practically 16 to 1, and the parity be-
tween gold and silver had been eaual
in value for all that time.
Mr.. Whitney quotes from DR.. Arendt
an eminent German bimetalist who is
striving for international bimetalism,
as the solution of the silver question
and coils attention to the European
countries and governments which are
getting ready to adopt it. DR.. Arendt
recognizes in his article that silver
standard countries have a great ad-
vantage over those using gold as a
standard, and assuming that free sill
yer won16 rlnoo orr oo,,pt,., -, H.,
silver column,h he fears that.the United
States would then enjoy the same
advantages and subject the gold
standard countries of Europe to keen.
or and sharper competition.
Cernuschi, a leading economist of
France takes the same view of DR..
Arendt, but says:
IF l were a citizen of the United
States and were convinced that Eu-
rope, by reason of England's attitude,
is fixedly hostile to the establishment
OF stable monetary parity between
gold and silver, obstinately rejecting
all ideas of international bimetalic
agreement, then l should cease to be
an international imetalist-which
nearly all my friends IN the United
States are-and should go over un-
hesitating to the camp of the silver
men,"
Mr.. Cerunschi thinks an adoption
OF the ratio of 16 to by the United
States would restore silver bullion to
the commercial value it maintained
from 1902 to 1878, but deplores it as q
vicious solution" of the silver aues-
ton. He says: From a theoretical
point of view, the free coinage of sill
yer at 16 to 1, re-established by the
United States without the concur
renee of Europe would be a vicious
solution, but it would nevertheless be
a step in the direction of internation-
al bimetalism, for, under the regime
OF the new standard, the productive
power of the United States would re-
ceive an enormous impulse, and this
development would have such a dis
astrous effect upon the economic and
financial interests of England and the
other European nations now gov
erned by the gold standard, that it
may be confidently predicted in ad-
vance that the course of events would
force the adoption of international
bimetalism as the only solution even
upon those who today deny the pos
sibility and efficacy of it,"
New York and the New England
states in their financial theories being
as fully British as England herself,
and as hostile to the interests of the
west and the south would seem neces-
sary to make what Mr.. Whitney al
prehends, a sectional contest and Sc
paration of western and eastern
democrats. To follow in the wake
OF the democratic leaders of the east
is for the west and the south to sacri-
fee and surrender their products,
their growth, prosperity and useful
ness to their own interests into the
keeping of those whose only interest
In our welfare is what we are
worth to them il dollars and cents"
There is an irreconcilable differ
ence between eastern, the western
and southern democrats. Eastern
democrats ignore the democracy o.
Jefferson and Jackson and of all dem
ocrats down to the days of Bill Tweed
and Grover Cleveland, western and
southern democrats despise Bill
Tweed and Cleveland and theil
mathods alike Roth wera tho will