The daily morning journal and courier., 1896-08-13

find profit In driving one of the met als to @ premium.
 "The right of the debtor to choose the coin in which payment shall be made extends to obligations due from the government as well as to contracts be- tween individuals. A government obli- gation is simply a debt due from all the people to one of the people and 1t is Impossible to justify which makes the interest of one person who holds the obligation superior to the rights of the many who must be taxed to pay it. When, prior to 1873, silver was at a premium 1t was never con- tended that national honor required the payment of government obligations in silver, and the Matthews resolution adopted by congress in 1878 expressly asserted the right of the United States to redeem coin obligations in standard silver dollars as well as in gold coin. Upon this subject the Chicago platform reads:
 We are opposed to the policy and practice of surrendering to the holders of the obligations of the United States teh option reserved by law to the gov ernment of redeeming such obligations in either silver coin or gold coin
 ''It Is constantly assumed by some that the notes issued under the act of 1890 are responsible for the recent drain upon the gold reserve, but this assumption is entirely without foun- dation. Secretary Carlisle appeared before the house committee on appro- priations on January 21 1895, and I quote from the printed report of his testimony:
 MT. Sibley-I would like to ask you (perhaps not entirely connected with the matter under discussion) what ob- ject there could be to having the op- tion of redeeming either in silver or gold lie with the treasury instead with the holder?'
 MT. Carlisle-If that policy had been adopted at the beginning of resump- tion-and I am not saying this for the purpose of criticising the action of my predecessors, or anybody else-but if the policy of reserVing to the govern ment, at the beginning of the resump- tion the option of redeeming in gold or silver all it's paper presented had been adopted I believe it would have work ed beneficially and there would have been no trouble growing out of it, but the secretaries of the treasury from the beginning of resumption have pur- sued a policy of redeeming in gold or silver, at the option of the holder of the paper, and if any secretary had afterwards attempted to change that policy and force silver upon a man who wanted gold or gold upon man who wanted silver and especially if he had made that attempt at such a criti- cal period as we have had in the last two years my judgment Is it would have been nvery disastrous.
 MT. Bryan said in conclusion: "Citi- zens of New York: I have travelled from the center of the continent to the sea.board that I might. in the very be- ginning of the campaign, bring you a greeting from the people of the west and south and assure you that their desire is not to destroy but to build up. They invite you to accept the principles of a living faith, rather than to listen to those who preach the gospel of despair and advise endurance of the ills you have.
 "The advocates of free coinage be- lieve that in striving to secure the im- mediate restoration of bimetallism they are laboring in your behalf as well as in their own behalf. A few of your peo- pie may prosper under the present con- ditions. But the permanent welfare of New York rests upon the producers of wealth. This great city Is built upon the commerce of the nation and must suffer If that commerce Is impaired. You cannot sell unless the people have money with which to buy. And they cannot obtain the money with which to buy unless they are able to sell their products at remunerative prices.
 Production of wealth goes before the exchange of wealth Those who create must secure a profit before they have anything to share with others. You cannot afford to join the money chang CTS in supportin a financial policy which, by destroying the purchasing power of the products of toll, must, in the end, discourage the creation of wealth.
 T ask, I expect, your cooperation. It is true that a few of your financiers would fashion a new figure-a figure representing Columbia, her hands bound fast with letters of gold and her face turned toward the east appealing for assistance to those who live beyond the sea. But this figure can never ex- press your idea of this nation. You rather turn for inspiration to the heroic statue which guards the entrance to your city, statue as patriotic in con- ception as it is colossal in proportions. It was the gracious gift of a sister re- public, and stands upon a pedestal which was built by the American peo- pie. That figure-Liberty Enlightening the Worlds emblematic of the mis- sion of our nation among the nations of the earth.
 With a government which derives It's powers from the consent of the gov erned secures to all the people freedom of conscience freedom of thought and freedom of speech, guarantees equal rights to all and promises special priv ileges to none, the United States should be an example of all that is good and the leading spirit in every movement which has for its object the uplifting of the human race"
 When MT. Bryan concluded, after speaking an hour and forty minutes there was another demonstration, but 1t was brief for the crowd had shouted itself hoarse. Governor Stone at the 1l,