The San Francisco call., 1897-07-06
WILLIAM JENNINGS BRYAN Addressing
Throng of Twenty Thousand People in
Fiesta Park, Los Angeles.

as legal tender and stood on a par with gold.
1t was the silver dollar only whose issue was
suspended.
But they tell us that In 1853 the halves and
quarters and dimes were made token money.
That Is true, but the coinage OF the dollar was
continued.
party because there were Democrats who did
not believe in free coinage. This reminds me
of the story where little boy had hold OF the
tail OF a cat.
"stop pulling the cats tail, Johnny"
81 amt pulling" said Johnny; "the cats
doing the pulling"
Those Democrats who held to the old princi-
pies were not atrighted by this pulling. No
party has ever opposed bimetallism in this
country with any degree of success. The ye ar
OF 1896 was the first time any party declared
for the gold standard The Republicans were
pledged to blme talllsm and part OF the
Democrats declared for straight gold stand
ard. What was the RESULT The new admin
stration, carrying out its promises sent a
commission TO Europe, not to maintain the
gold standard, out TO get rid of ii.
have been called repudiator so long that
l would like to have them secure it and re-
pudiate with us. ButI regard that comm IS
sion with pain. To think that just now when
confidence is restored and prosperity is estab-
nshed among us. is 1t not cruel TO send men
abroad to destroy European confidence?
You will see that ali parties are pledged to
bimetalllsm. In blmetallism there are two
sources of supply of money metal. These two
SOURCES are the gold and silver mines, some
times one gaining on the other in the supply.
One commission Will 60 to the other and
say: "We want you 10 join with us. to help
us stop the advantage you have been get
ting from our condition, from our dollar OF
increased value; but If you refuse to join US
we will stand by you as long as the world
lasts" Is lot that what their platform says
that we must have the gold standard until
other people join us? 1t means in plain terms
that We VIII pay them we'll If they refuse.
The independent bimetaliist says, sThe
American people are suffering from falling
prices and you have profited as the dollar rose
in value. say that seventy millions of peo-
pie have as much right to protect themselves
against falling prices as you others have to en-
hance the value OF the notes and the bonds
and the mortgages you hold. We will be glad
to have you and your assistance in all ways
and we win make it to your advantage. We
will give silver the same value as gold. legal
tender, and then If you complain against sill
yer and degrade Its value we will give silver
its equal value in law with gold as a legal
tender. and then, If you complain against the
value OF that metal we will pay you in silver,
the metal which you make cheap, and thus We
will iorce you to help us.
Bime tallsm is necessary. Two things must
be considered in money as in food-quality
and quantity. II l am hungry and some one
says 10 me: II know of food that the best
people in the world are struggling for; it is
the finest food TO be had" l say: .'All right;
/ am hungry; give me some OF that food" and
the man replies: 'Whiie this food is excel
lent in quality there Is none of il for you. y
1 would in that case die of starvation If
truste ed 10 that one food. There is no salts
faction to have you tell me the desirable
qualities of gold if l cannot get any OF il.
There is not enough gold for the basis of the
worlds money. If you make dollars scarce you
make dollars dear That dollar is best whose
purch asing power is The most stable. But on
this point | want to remind you that the
debtor shouln have the option to retain bi-
metallism. Do we have 10 prove this by say
ing that the debtor is more worthy than the
creditor? Not at all. We place them on the
! same plane and after we consider them as
they are and look at their interests then we
look at the interests of society.
If we have bimetallism it means that one
ounce OF gold is equal to sixteen ounces of sill
yer. If the creditor has the option he viii
take an ounce of gold if it is worth q little
more than sixteen ounces OF silver. All the
creditors Will demand gold and it will rise in
value. Ii the debtor has the option and silver
rs lower and he will demand silver it will in
| crease the value of silver, while the lessened
demand for gold will keep down its premium
! and serve to hold the two together.
The speaker quoted John Sherman.
saying that the contraction of the cur
rency meant more distress than his fellow
Senators generally supposed; that tc
everyon except the capitalist out of debt
the salaried officer and the annuitant il
was period of loss OF wages, suspension
OF enterprise and bankruptcy. Mr. Blaine
| said IN 1878 tha. the establishment of gold
IS the sole unit of value would have
ruinous effect on all forms of property
except those investments which yielded d
fixed return in money. These would be
enormously enhanced in value and woui
gain dlspropOrtionate and unfair ad.
vantage over all other forms of property
Carlisle said that the Bland act was in
pathy with the struggling masses