Daily capital journal. (Salem, Or.) 1896-1899, 1896-08-31
FIRST BRYAN's SPEECH.
Continued from first page.


cause the silver in IL is worth but tha'
amount, and then paper dollars would
be, on the same principle, practically
worth nothing. But the law has made
them both one dollar each and they
could both have just as well beer
printed on paper. Still Mr.. Geer calls
this bimetallism. But il Is not bi'
Inetallism. 1t is gold mOnomentallism
and for anyone TO say that a gold
standard, supporting all other forms of
money, is bimetallism is the rgnkest of
nonsense.
We are again told that whatever
wrong. was committed in 1873 was
rlghted five years later by the Bland
Allison act, which required the coin
age of two million ounces per month,
was kept up for twelve years, when 1t
was suspended by the Sherman law,
which furnished market for silver
bullion to the amount Of iifty-four
million ounces per annum, and that
the Sherman law remained In force
for three years. My friends says:
And during all these years the other
great nations Of the earth stood by In
amazement and said: In the name OF
heaven how long can the United
States hold silver 'up by her own un-
aided efTorts?' Here Is another evil
dence that some people either cannot
or do not understand the simple laws
OF cluse and effect. My friend thinks
the Sherman act made market for
silver, OF course, "a market makes de-
mand. But this is only another in
stance of false philosophy. Commo-
dities going TO market are going to a
place .of consumption. by consump-
tion demand is created which will
stimulate prices. a market which
does not consume is not Il mar
ket at all. All n commodity In n
market OF that kind can do Is to
change hands, an operation which
never relieves supply nor adds to per-
manent demand. Should | advertise
that | Will purchase all the wheat in
the world at present. prices and pay
for the same in gold coin, ask
would tlfe price OF wheat advance?
Certainly not unless / should consume
the,wheat. What effect would my
purchase have on next years crop?
Absolutely II would be no stimulant.
If any effect at all IL, would be to de-
press prices. Our government pur-
chased one hundred and sixty million
ounces Of silver under the Sherman
act, at the commercial price in Lon
don, which did not relieve the Ameri-
can market at all, AS any session of
congress may order that bullion placed
upon the London market. In order to
raise price OF silver bullion you must
transform II | n some manner so II will
not be still In competition with itself.
This is law regulating prices OF all
commodities subject to supply and
demand"
Unlike Mr.. Geer the speaker was
not personal In any of his remarks but
eyinced the greatest fairness on every
point. While Mr.. Geer made great
efforts to ridicule all who did not
agree with him, Mr.. Rigdon very man
fully confined his shafts to the points
at issue. He gave his hearers a very
plain statement Of the situation, and
trusted TO facts TO convey their own
truths. His audience was held for
over two hours in rapt attention, and
when Mr.. Rlgdon concluded In burst
OF patriotic eloquence, not chair was
vacant and scores were still standing.
For fully 10 minutes after the close
Mr. Rigdon was crowded with hand
shakers, who crowded about and con-
graduated him with great enthusi-
asm.