Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1897-07-23

creditor; aye, the interests Of society
are greater than the interests of both
debtor and creditor. And how is So
ciety affected?
"Let me show you if We have free
and unlimited coinage at lG to l, it
means that by law an ounce of gold Is
equal to l6 ounces OF silver. If the
creditor has the option he can either
demand an ounce of gold or l6 ounces
of silver. If the debtor has the OPP
ton, he can pay in an ounce OF gold
or 16 ounces OF silver. Suppose the
creditor has the option, is he selfish?
OF course he is. If he has the choice,
will he take that which is best for
himself? Certainly, he will. If an
ounce Of gold is worth a little bit
more than l6 ounces of silver, the
creditor will demand gold. If the
debtor has the choice will he use it
for his own good? Certainly. If 16
ounces of silver can be bought for a
little less in the market than al
ounce of gold, he will pay his debt in
silver. But what is the result? Why,
if the creditor has the option and
gold is little dearer than silver at
the ratio, then the creditor will de-
mand gold, and that will increase the
demand for gold, and make gold
dearer still, and the decreased de-
mand for silver will make silver
cheaper still. If the debtor has the
option, and silver is the cheaper
metal, then all the debtors will de-
mand silver; that is they will pay in
silver, and the demand for silver will
raise the value of silver, and the de-
creased demand for gold will lower the
value of gold. In other words, If the
creditor has the option, selfishness,
acting through the creditor, will draw
the metals apart, whereas, if the
debtor has the option, selfishness act,
ing through the debtor, will hold the
metals together at the ratio fixed by
law. That is the defense Of the debt
ors' option, and it is indispensable
to bimetallism.
"Let me illustrate the Importance
of this option. The financial classes
are influential in society. The finan-
cial classes are potent even in politics.
The financial classes are very influen-
tial, both in society and politics. If
anybody has any doubt about the in
fluence of the financial class in poll
tics, can suggest way in which he
can relieve his mind of all doubts.
Let him run for President on a free
coinage platform, and he never
more will doubt the influence of the
financier in politics.
els it we'll to have this influence
used for the maintenance of the parity
between the metals? Certainly it is.
How can you compel financier to
help maintain the parity? BY max
ing it to his advantage 10 maintain
the parity. Give the option to the
creditor, and what is the result?
Why, you say to the creditor class
that if they will use their influence to
drive the metals apart and force one
metal to premium, then you will
give them the right to demand the
premium and thus profit by their ac-
ton in forcing the metals apart. But
suppose you give the option to the
debtor, then you say to the financial
class that you want them to help
maintain the parity, and in order
to be sure that they will do it, you
tell them that if they will use their
influence to force the metals apart,
instead of rewarding them by paying
in the dearer metal, you will punish
them by making payments in the
cheaper metal, and thus make it to
their advantage to stand with the
people"
Following this Mr.. Bryan told sew
elal anecdotes and turned the force of
their points to illustrate and strength
en- his argument. His close was as
follows:
"My friends, in supporting bemetal-
lism, the doctrine of the past, the
doctrine of this nation, the doctrine
of the world, we are planting our
selves upon the experience of man.
kind. We prove our cause by the ap-
plication Of everyday principles. We
prove it by analogies born of nature.
He who was infinite in power was
also infinite in love. He never gave
to mankind need without giving a
means of gratifying it. When he
made food necessary for mans exist
ance, he covered the earth with his
bounties so that there might always
be enough food for the children of the
world. When he made water neces-
sary for the human existence, he filled
the earth with veins and planted liv-
ing springs of water in the bowels Of
the earth. When he allowed weari-
ness to creep over the limbs OF the
toiler, he sent sleep, tired natures
sweet restorer,' to renew his strength.
When he gave to mankind capabilities
of development and thirst for knowl.
edge, he filled and enthroned within
him that desire for knowledge, and