The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-13
BRYAN, THE ELOQUENT
Continued from First page.)

presented TO Congress. Wage carncrs
know that while n gold standard raised
the purchasing power OF the dollar 1t also
makes 1t more difficult to obtain posses
sion of the dollar, they know that en-
pioyment is less permanent, loss OF
work more probable and re-employment
less certain. A gold standard encourages
the boarding OF money because money
Is rising; II also discourages enterprise
and paralyzes industry.
1 have not attempted to describe tho
effect OF the gold standard upon all
classes-in fact, have only had time to
mention q few-but each person will be
a ble to apply the principles stated 10 his
own occupation.
1t must also be remembered that 1t Is
the desire of the people generally TO
convert their earnings into real or per-
sonal property. This being true. in con-
sidering any temporary advantage which
may come from a system under which
the dollar rises in its purcra sing power
1t must not be forgotten that the dollar
can not buy more than formerly. Hence.
1t WIN be seen that large portion of
those who may find some pecuniarv
advantage in a gold standard will dis.
cover that their losses eXcee d their gains.
Jefferson has stated that one of the
main duties OF government is 10 prevent
men from injuring one another ana
never was that duty more important
than 1t Is to-day. 1t Is not strange that
those who have madS a profit by fur
nishing gold to the government i'm the
hour of its extremity favor financial poli-
CIV which will keep the government de-
pendent upon them. L believe, however.
that L speak the sentiment of the vast
majority OF the people of the United
States when / say that n wise financial
policy administered in behalf of all the
people would make our government in
dependent of any combine of financIers.
foreign or domestic.
Now l shall ask you to consider the
language of two gentlemen whose long
public service and high Standtn,, in the
party to which they belong will protect
them from adverse criticism by our op-
ponents In 1869 Senator Sherman said:
Ihe contraction OF the currency Is a
lar more distressing operation than be-
fore. 1t is not possible to take THAT vow
age without the sorest distress. TO
every person, except u capitalist out
DEBT, or salared officer or annuitant.
ii is period of loss, danger. lass!tude of
trade. fall of wages, suspension of enter
prise. bankruptcy and disaster. 1t means
RUIN TO all dealers whose debts are twice
their business capital. though one-third
less than their actual property. 1t means
the ial of all agricultural production
without any great reduction of taxes.
what prudent man would dare 10 build
mouse. q railroud, n factory or barn
with this certain fact before him?"
las | have said before the salaIied ofli-
Ger referred TO must be the man whose
salary is fixed for life and not the man
whose salary depends upon business con-
ditions.
On the other hand the restoration of
himetallism will discourage boarding.
because when prices are steady or ris-
ing money cannot afford TO lie idle in
the bank vaults. Why should the in
terests of farmers and wage-earners he
| ignored in considering financial legis-
lation? A monetary system, which is
pecuniarily advantageous to a few syn
dicates has far less to commend it than
| IL system which would give hope and
announcement TO those who create the
atoms wealth.
| Our opponents have made a special
| appeal To those who hold fire and life
| insurance policies, but these policy
| holders know that, since the total pre-
| miums received exceed the total losses
| paid. rising standard must be of
more benefit to the companies than 10
| the Dolicy-holdcrs.
Much solcitudc has been expressed by
our opponents for the dcpositors In
| saving banks They constantly parade
| before these depositors the advantages
| or gold standard, but these appeals
| Will be in vain, because saving banks
| uSooSitoII cS hHpW indl under gold
! standard there is increasing danger that
| they will lose their deposits because of
| the inability of the banks to collect their
| assets: and they still further know that
| II the gold standard is 10 continue in
| definitely. they may be compelled Ia
| withdraw their deposits in order to pay
| living expenses.
| 1t is only necessary to note the in i
| creasing number of failures in order to
know that n gold standard is ruinous to
| merchants and manufacturers. These
| business men do not make their profits
| from the people from whom they Dor
row money. but from the people to
whom they sell their goods. II the peo-
ple cannot sell wholesale merchants and
| manufacturers must so into bank
ruptcv.
Salaries in business occupations de-
pend uDon the business conditions and
| the gold standard both lessons the
amount and threatens the permanency
Of sales.
The professional classes-in the main
derive their support from the produc-
ing classes and can only enjoy prospcri-
" when there is prosperity among
those who create wealth.
Mr.. Blaine discussed the same princi-
ple in connection with the demonetiza-
ton OF silver. Speaking in the House
of Representatives on the 7uh OF Feb
ruary. 1878, he said: II bely We the
struggle now going on in this country
and other countries for a single gold
standard would If successful. produce
widespread disaster in ana through out
the commercial world. The destruction
of silver as money and the establishing
OF gold as the sole unit of value must
baUa q riiuons effect all &c