The herald., 1897-08-23
Senator White interviewed
at San Diego
THE DEMOCRATIC PARTY
IT'S TRUE POLICIES CANNOT BE
AFFECTED
By the Fall in Silver and the Rise Of
Wheat-The Republicans Share
in Prosperity


San Diego last week, was interviewed by
the Sun of that city and the following
question was propounded to him:
"The price OF bar silver has fallen.
The price of wheat has risen. There is
over the country generally an ap-
parent renewal Of business activity and
an apparently increasing prospect OIL
the revival of prosperity. In view OF
these alleged or apparent facts, what
In your opinion, must be the position or
the Democratic party in campaigns OF
the immediate future?"
The senator replitd:
1.-THE fact that bar silver has fallen
and that the price of wheat has risen
cannot affect the true policy of the
Democratic party.
"While bimetallists have claimed that
the fall of silver, or, more correctly, the
appreciation of gold, has affected prices,
no defender of the double standard has
ever intimated that the price Of wheat
cannot be influenced by the extent of
the crop. If tine output of that commod-
ity for 1897 shall be one-half or one-tenth
of the usual supply, clearly the demand
will be increased and the article will so
up. This variation Of rate refers solely
to the extent of production. 1t does not
mean that wheat prices may not also be
Influenced by other considerations.
while prevailing quotations happily
show an upward tendency. am con-
vinced that the prospect would be much
better and the farmers reward corre-
spondingly greater If silver and gold
were treated with equal favor.
"The restriction of debt-paying money
to one metal makes it heavier to meet
obligations, adds to the demand for the
favored substance and augments its
purchasing power. If there are four
billions Of money Of final redemption in
the world the purchasing power Of each
dollar of such money will be greater
than would be the case If the sum were
increased to eight billions of dollars.
Thus one dollar under present condi-
tions buys as much wheat as two dollars
would command were the circulating
medium doubled by the recognition of
silver. Whether we have eight millions
or eight thousand dollars Of real debt
canceling money, the scarcity or plenty
Of grain or stock or any commodity will
feel the presence of famine and plenty;
but when there is abundance and when
there is limited supply the price will al
ways be made with reference to the
amount of money in circulation. That
essential which 1t is difficult to get will
always be more valuable than the arti-
Gle which is easy to obtain. The more
arduous the pursuit of gold, the greater
the demand for it and the more marked
its value-its purchasing ability.
THE STATUS OF SILVER
'As to the market quotations Of bar
silver, 1 have only to remark that the
Democratic party contended throughout
the late campaign that governmental
attacks on silver affected the value Of
the article. That as adverse legislation
had deprecated 1t so must favorable
legislation appreciate it. We conf
IDENTIFY claimed that the election of Bryan
and friendly congress would at once
tend to bring silver and gold nearer the
historical standard, and necessarily fha t
the election of Mckinley would make the
disparity more and more evident. Nc
Kinley won, and silver is going down.
Thus our views are sustained. The
unfortunate consequences which we
everywhere and openly anticipated have
been realized, and I am lost in amaze
inent at the gigantic audacity of those
who demand that the Democratic party
shall alter its principles because its
leaders correctly outlined the financial
conditions, which are upon us. If silver
became more valuable under the exist
ing rule of the trusts the Chicago plat
form might need revision, but when the
warnings Of that fearless enunciation
were disregarded ard the announced
consequences of such disregard fulfilled
we can truly says we told you so.'
Republican newspapers gloat over
Tie fall of silver. Thus are the three
gentlemen sent abroad by Mckinley en-.
couraged in their missionary efforts
Judging from the declaration of lead.
ing Republicans the fall of silver is to bt
'one of our glorious achievements
THE Democracy has always contendet
that the value of silver and gold depends
upon the demand for the article. Tha
the demand depends upon the use t.
which these metals may be devoted
That the chief use, that which create.
the leading demand as to each metal, ha!
reference to its money character, ant
that whenever either silver or gold Il
driven from monetary circulation it will
fall. Either metal can be expelled from
the money marts by law; neither car
be recognized as money save by law I
we declare it felony to circulate golt
its unpopularity will soon be noted.
REPUBLICANS AND PROSPERITY
Il trust that we are becoming pros
porous. believe, and fondly hope, tina
times will improve, because we hav,
reached bed rock. This improvement
will come in spite of Republican success
Il do not believe that party caused dr.,
weather In India, produced the bubonl,
plague--thereby making an active de
mand for wheat-or discovered the golt
Of Klondyke or Trinity county Ther,
are some things that no party eithel
creates or prevents
while we may have rain during Mr.
McKinley's term, I will upon such hap
pening feel at liberty to dispute Repub
lican responsibility for the manifesto.
tion-however they will claim it. The
caveat is on file.'
EAST SIDE NOTES