The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-10-28

| ~ VIII DO observed that The platform
| ~ III favor or the gold standard tor
| measure): that IL, " opposed To tlre FREQ
coinage or silver unless by information.
q, agreement With the leading CONNER
| cnl hations OF the world, which IL
pledges the party to promote; and tin.
| ~ such an agreement can h. obtained
II declares the gold standard must be
preserved. n II
| ghs, Common Sense. III
AS no sane man for u moment sun.
poses that the leading commercial ma.
tlcns the world, such as England,
| France, Germany, etc, are going 10
abandon the gold standard In order 10
| promote free silver coinage, but ON the
contrary that the whole object Of an In.
terhntIonnl agreement ls while pre-.
serving the gold standard which those
h0tNnS refuse TO give VI, TO provide
sueh safeguards As VIII admit OF silver
being again coined as money and circur
lhting With gold, without driving the
gold out, It Is evident that THE DEC
hARATlON OF THE REPUBLICAN
! PLATFORM IN FAVOR OF THE
GOLD STANDARD UNTIL. AN IN
TEltNATloNAL AGREEMENT is
kEACHED,lS NOT A DECLARATION
THAT WHEN THAT AGREEMENT
- ltEACHED THE GOLD STAND
AID SHALL. III ABANDONED. BUT
oN TIE CONTRARY IT SHALL.
STILL BE CONTINUED FOREVER,
Moreover az an International agree
ncnt would prevent silver from driving
gold out Of circulation, ana would per-
mt both to circulate together. TO open
the minis TO silver coinage then would
give Wy practical bimetallism. and NOT
silver monJmetallkSm. which Is all
Mr. Bryan's project amounts to.
ihe Republican platform therefore,
declares III favor OF the gold standard,
ana or free silver coinage ns soon as We
can have practical blmctuulsm, and not
silver monomctallsm merely
Now throughout this campaign. Mr..
Hryan has rallied at the Republican
platform. and laughed 1t to scorn, for
me alleged Inconsistency In advocating
the gold. standard. and also bImetal-
ism. IN his speech In the Chicago con-
Hehtldn. he said: "Why, IL they tell
us thu gold standard Is good thing.
we point 10 their platform and tell
them that their platform pledges the
party to get rid OF the gold standard.
ana substitute himctallism. II the gold
standard Is n good thing. why try 10
get rid OF It? And II the gold
standard Is a bad thing. why should
we walt till SOME other nations are
willing to help lis let 1t g0?" In his
speech. IN Tammany hall. he said: "The
Republican party does not say that the
gold standard is good thing. The
Republican party expressly declares bI-
metall!Sm Is better than the gold
standard, because when the Republic
can platform pledges the Republican
party to substitute the double standard
FOR the gold standard. It makes n valid
declaration that the other standard IL
desirable. IN preference to the single
gold standard" And in almost all his
other speeches he has rung the changes
upon this theme.
We have seen that the Republican
platform does not propose 10 get rid OF
the gold standard at all, but on thu
contrary. 10 continue Il forever; that II
does no propose TO substitute bImetal-
Ism for the gold standard, but to have
oimetallism with the gold standard re-
talned: that 1t does not pledge the sub
st!tution OF the double standard for the
gold standard rs Mr.. Bryan alleges.
ana consequently does not declare BIZ
mctalliSm to be better than the gold
standard as he erroneously infers. 1t
appears therefore, that Mr. Bryan's
- o va IpIlLl uIe pdStu
false premises, and hence fall.
On the other hand. 1t is apparent that
not only Is it NOT INCONSISTENT
FOR THE REPUBLICAN PARTY TO
ADVOCATE BIMETALLISM AND
ALSO THE RETENTION OF THE
GOLD Standard: BUT THAT
THAT IS THE ONLY POSSIBLE
WAY IN WHICH WE CAN HAVE
BlMETALL1SM IN PRACTICAL Use
AT ALL: AND FURTHERMORE
THAT BEfETALLISM. AS ADVOCA-
TED BY MR.. BRYAN AT TIE RA-
ITO OF IS TO WITH TILE. ADAM
DONMEST OF TEE GOLD STAND
ARD is NOT BlMETALL1SM AT
Nil, BUT MONOMETALLISAI. AND
HIS PROJECT is NOT ONLY AN
1MPosSlB1L1TY. BUT A PATENT
ABSURDrrY.
Question or"1Ioro Money"
Mr.. Bryan's main argument and the
one which appeals moro than any other
to the people. is that MORE MONEY
is NEEDED IN CIRCULATION TO
CONDUCT THE BUSINESS OF THE
COUNTRY. AND RAISE THE
PRICES OF PROPERTY.
During the Silver Panic" of 1893,
when money was so scarce Il lent for 20
per cent. 80 per cent, and even as high
as so per cent interest: when business
houses were falling, and banks were
closing their doors, the same argument
was urged by the silver men against the
repeal OF the Sherman silver purchase
act, VIZ: More money Is needed In cir
culatlon to conduct the business ex-
changes OF the country"
At meeting OF the Chamber OF Com
merce, held on July 6. OF that year. Mr..
y, Foster Higgins. who opposing a res
1lution fdrorinS The repeal OF that act,
conceded That according TO the general
opinion Of the authorities on that subject
about per cent OF the business OF the
world was conducted In money, and the
other % per cent on credit,
In reply to MI. Higgins, and in sup
port OF the resolution for the repeal Of
the act, Mr.. John Clafln sald
Suppose VIC could increase the currrn-
cy OF the country 10 per cent a year. and
suppose by doing thct we should dInln-
ish the confidence and consequently the
credit only ~ pes cent. Most likely we
should diminish It 20 per cent or morc)
Ten per cent OF 81 900 worth OF busl-
ness done on Il cash basis Is 800. That
IL the amount you hnvc increased. Ten
per cent of the 10000 which Is done In
credit Is 81 900. You have gained 500 in
substantial money. II you please. and YOU
have lost $1,000 in credit and practl-
cally we are just that much worse or.
I'VE could better afford to lose 10 per
cent OF our money. IL by that means we
could regain confidence, than we could
afford to gain 10 per cent OF our money
and lose s per cent of confidence.
after 1879. when we came upon d spc-