The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-09-17

did that roocnuy IN mgsi conclusive manner.
] viii only add that was a member of ths
senate ~ Che time and know whereof affrm,
and cmphaucaliy proBsunco an tine stories
about the act ~ 1873 being assed surrepttioua.
ly about senators and members being some.
how hyrncuzod. - that they did not know
what they were doing: about some English.
man boing on the ground with much money 70
promote tho drmonotizati1n of silver. and 20
on, ns wholly and unquaiihedly false. I wiah
90 D. scrupuluusly courteous ~ my opponents.
But as conscientious student of contempora.
noous history ann bound 20 say that In the 40
I years during which have been an attentive
observer Of public Affairs ! have never wit
nct4ed nor heard ~ such unscrupulous, shame.
los, persistent, audHniuus, cumulative, gignn.
tic lying ~ has been and Il now done with 70
gard 90 the act N isi8 rs origin its nature
and iis consequences
What would Follow Bryans Election.
/ Consider now what the immediate oonse
quonces would b. n Mr.. Bryan wcro olccted
president with congress % match. Mr.
Bryan would u course be AEious 10 have
I Biz free coinage law enacted hut that could
not De-, even n be- called an extra session %
cunrrtsl, until some time In April or May,
hvo or six months after the day ~ election
But as soon on The eth q November a. the 70.
suit 1f the election was announced every body
would know that the parity Of gold and silver
would not ho maintained.
II having been made certain BY Mr. Bryan's
election that the parity q gold and silver
would NOS ~ maintained, there would b. .
rush upon the treasury for the gold In u ~
. persons holding greonhacks entitled % re-
domption, and the gold reserve would hc az
hausted In a twinkling. Gold viii instantly
disappear from circulation 20 b. boarded o.
exported. Why will IL disappeari Bccauss
every sensible person when making apaymcni
viii prefer o. make % IN the less valuable dol
lar aud hold the more valuable gold dollar
back for more profitable uae. Gold viii there
fore quickly rise % a premium. and We shall
be- on The silver basis long before free ouin'
age law can b. enacted. What does 10 mean b
b. on tho silver hasisi The word "colu, " whor
ever % appears iu the law, will no longer near
gold, a. ~ was - far understood but silver
alone. The groonhack or treasury note ~
dcomhlo iu "ouin" win no longer be redeemed
in gold. us heretofore, but only IN silver. Th,
United States bond payable IN coin. no mGttc'
whcihCr sold was paid Tor IL or whether u hai
been sold ior the very purpose % buying Foll
f1r The treasury. viii b. paid, principal am
interest, IN silvor-rc rcpudiaiion as hAgrant a
the world ever witnessed. Our daily trans
actions in buying and selling In paying an,
receiving wages. viii no longer b. carried u
upon The basis of the gold dollar worth 10
cents. but % the silver dollar worth % cent
OF thorcahout, for the government viii NJ
lonrcr hold up the silver dollar 10 the value o
the gold dollar. That is what the silver hasi
/ means. You can study IN Mexico how 1
J works.
Tho quantity OF sold vanishing from circuia
tion viii amount o. about 500 O00. co. the dil
appearances of which viii make q tremenduu
hole in the volume of our currency. Ncarl
onc-third of 10 viii b. gone, and what remain
; will b. reduced nearly one-hAif in purchAsiT
power. But, says the silver uAn. thsro viii b
. free silver coinage 20 an the gap prompt
with coined silver or silver certificates. Oh
. no. uy fellow sufferer The disappoarance q
gll Wll happen promptly after the electio
0i ar bryan, and there viii not possibly
any free cqiuafe q silver for al least II
months and q wil require = grsst many NOR
, months ~ hll sap Of iooOoo.u00
I The Free Coinage Panic.
q what viii happen meanwhnsi The s. Lou
b I GiohtDcmocrat reports Mr. Bryan 20 Ia,
q said slme time ago. Il think Il, !" meaning n
= vlHory % Tho froo coinage movement. swl
, cause panic But the country 4 IN q doplo
q able condition, and ~ will take extreme moa
o ugos O. restore 70 30 a condition Of prosperity
b Nhorcupon the 81 Louis paper polntedly r
o marks. "Eyidcntly Mr.. Bryan has heard % n
y doctor who aivays threw his patient into a
. before administering any curative medicine.
r Just 20.
q H1w. thon. would Mr nryan's "dt" worl
n The sudden disappearance q cur gold frol
; circulation would producc the most stringcl
p contraction % The currency on record Bus
mess men who owe money and AZ the San
y time have money due them viii b. forced
collect that money by every means at the
q disposal Nobudy win b. Inclined 70 lend c
n any money except upon extraordinary secl
riiy. The banks will naturally consider u thc
% duty 30 keep themselves strong. and ther
a fore % call In loans and % restrict their al
!. counts and advances % business men with Il
r utmost caution. business ostahlishment
r mauuiactorios mercantile houses. unable
p got The money for meeting their obligation
.c viii by the hundreds succumb 50 their omha
N rassments and tumble down like a row
m bricks. Others viii cautiously restrict the
/. operations % the narrowcst possible lirnit. a.
30 wage oarnors By tho thousands will iose the
3 employment and BE- turned into tho strcot
"a No class of society win b. spared tho d
a, sirucuvp consequences. Every frightcni
lt Cruditor, pressed BY his own creditors and a
u prohonsivo of a growing loss By every day
lQ delay, will eagerly pounoe upon his debtor
.. The prompt settlement oi every account W
~ b. pcroinptorily demanded. Our farmers wi
le have mortgages on their property and wi
20 have bcon told that free coinage viii mai
In things cxcccdingly easy for them viii ha
1r some unexpected experiences. Every mortga
ye debt that is due viii b. quickly called In. I
a. mortgaeeor who tries 10 have his bond extcn
IN ed viii dnd an unwilling ear. He who soe
c. o. borrow money IN order % replace tho q
a- mortcaeo with new one will b. told that q
"a Is no time Tor loans, except, perhaps, upon
lg urlitAnt conditions The murtgagour may fr
~ Goo, that his bond is payable In sold coin, a
N be will have % buy the sold AZ the prcmiy
81 thcn ruling. Foroclosurcs will b. the order
thc day, The mortgageor who seeks shelter I
dor tao laws delay viii a any tate furtl
"A cccdings Evcrywhero anxiety, Omharra
H. mont sacrihco, loss and distross, even bof,
w MT Bryan could ascend the presidential cha
M Dryan's nlmetAlllsm.
IN After Eve or six months oi such a doal
o. crisis Mr.. Rryans extra session % congr
Cd would bogin aud give us free coinage. IN,
Do IA Mr., hryan solomnly promised us IN
.as grcat New York Grafton, free coinage viii q
he us blmctalism, blmetallism win give ~
va abundance Of money, and all win b. RIG
DO hmctllismi What Is himctallismi Il q
in monetary system IN which the two metals
lA culatH together Tor all the purposes of mon
in on parity with each other upon a llxcd lo
10 ratio, which In our case is 10 tol, Eviden
as 90 have himotallism gold must be- ON hH
.ro a. wei as silver.
.cr How win Mr bryan set the gold back n
ho The money powoFi Evidently be- must q
.r. ana induccmcnti What inducomCnti 10
lt sure, The mints win BE- open b. gold a. well
io silver, But who viii oilor g0ld bullion % h
ic, 70 coined into dollars for circulation when
b. can have silver dollars with the sane D.
'cr tgndur power a. bali the pricot Only an ID
an would do that 90 cuurao, rold viii b. ofic
no only when the silver dollar d up again o.
~ sold standard. rher Is tho rub But h
is Mr hTyan steps In w,th a theory which
las curiosity IN craftsmanship. he said IN
Ia Ncw York spccch; "Any purchaser who sta
ati rcady 10 take the entire supply of any art
led ata ccriain price can prevent that article q
,yo falling below that price. 10 tho govVrum
in can Ok price for SOLD and silver BY Great
~ demand greater than tho supply"
"A again. "Nhun a mint pTice u thus establish
,xo ~ regulates tho bullion price, because any
~. son desiring coin may have the bullion :
int a