The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-29
BYNUMs CURRENCY SYSTEM.

OF people the five hundred creates
and best men among them ge
together and are addressed b,
half dozen of the greatest of thes
great men, people have a right to ex
pect from that half-dozen men tina
wisdom which is more precious thai
gold The gentlemen who assembled
at the New York Reform club dinnei
last Saturday night were, presumably
certainly in their own estimation, tn,
five hundred ablest men among sew
enty million Americans. and onl,
men of the profoundest wisdom
could have been selected to address
them. Among those so selected was
William D. Bynum
Now, this Mr. Bynum is a colo,
bearer in the Old Guard of the Cuckoos
and he had something to say about
the Chicago convention. OF that con-
Vention he says:
1t is difficult for one not a witness
to the intolerant and frenzied spirit
that obtained to conceive that the dele
gated representatives of this great
party should meet in convention for
the purpose of promulgating policies in
harmony with its principles, and the
selection of a candidate whose record
would be a guarantee of their mainte-
nance and demand, in its honored name,
the degradation of the monetary stand
ard by which the nation had contracted
Tor more than 60 years; denounce an
administration of their own selection
for having, in times of imminent peril
and danger. upheld the laws of the
government, and declare in favor of the
destruction of the independence of the
supreme court of the United States, the
last refuge of the people in the peace
full defense of their rights and liberties,
and nominate a candidate whose pro-
fesSions were sufficiently communistic
as to make him the idol of all the DO
litical charlatans of the times. After
this disgraceful abandonment of the
cardinal principles of the Democratic
party, this shameful proclamation of it's
record in support of the in
of the right of contract, of
the honor of the nation, of the integrity
of the people, of obedience to law, and
of the defense of the coordinate indie
pendence OF every branch of the gov
eminent, what was the duty of the
Democrats, who were Democrats from
Nothing remained but to
sound the bugle and summon the old
guard TO rally around the standard
which had sometimes led to victory,
sometimes TO defeat, but never to dis
honor.
That convention never in the world
would have denounced an administra-
ton placed in power by the Democrats
had it not have turned its back upon
Democracy and the principles of the
party that had elected it. AS for the
candidate who was nominated at Chi
cago last year, had he been the idol of
all the political charlatans of the times
no one would have worshiped him half
so much as this same Mr.. Bynum. His
assertion bears its own refutation
After speaking thus of Mr. Bryan and
-elling what was done at Indianapolis
md stating what must now be done by
he National Democrats, Mr.. Bynum
closed with these words:
We must insist upon such a reform
n our system of currency as will give
he producing classes the right to en-
oy the benefits of a credit based upon
heir own resources, instead of being
to do business with a metal
ic money of either gold or silver. or
With a currency based upon the credit !
# the government, which is equally as
,oGtlv.
Whether we shall be able to achieve |
IN early victory upon these lines no |
me can safely predict, but of one thing !
We NAV be certain-some great party |
It no distant day must not only stand, |
)ut mus triumph, upon these princi-
lies # our government is to remain a |
government of the people and for the |
people.
And when he had uttered these senti-
nents he received a round of applause. |
IAN anyone tell what kind of a cur
ency system Mr.. Bynum does favor? |
lie doesn't want one based on metallic |
money of either gold or silver, or a
urrency based upon government credit !
NE currency system he wants is one
hat will give the producing classes
he right to enjoy the benefits of a
redit based upon their own resources.
f that means anything, which is not
t all certain. it means that Mr.. Will
am D. Bynum, chief ''rooter" for the
National or goldbug Democrats, is in
avor of the warehouse system of cur
ency. And vet he received loud ap-
lause from the five hundred gen
emen, including ex-President Cleve-
md and eX Secretary of the Treas
ry Carlisle. to whom the gold
tandard is dearer than all things
lse on earth. Did those gem
emen really sense the meaning of Mr.
:ynum's remarks about a currency
ystem? If they did, they should for
yer hold their peace about a gold
tandard; if they did not, they should
)rever hold their peace about the lack
f intelligence in those who do not see
We TO eve with them. But what
lorious spectacle it must have been to
ave seen all these worshipers of the
old standard applauding Mr.. Bynum
hen he advocated the warehouse sys-
I'M of currency. Will it ever be re-
Gated?
OF SYMPATHY.