The San Francisco call., 1897-07-08

| our platform meant affirmative action, AMI
| therefore every person who was not con-
vinced to our way of thinking was on the
other side. That campaign set the people to
| thinking. In our contest we had to begin at
| the bottom and build up.
He referred to the many ludicrous in
terpretations OF the meaning OF free and
/ unlimited coinage in the ratio of 16 TO l,
and declared that with further education
The people would better understand the
ISSUE and would be more likely to sup
port the cause of silver. He added:
Before the Republican party came into
| power we never asked the consent of any other
naiion as to what our financial policy should
be. Those silver Republicans who Joined us
! in the last campaign ought 10 have 1t said for
| them that the r pub lean platform OF the last
campaign was the first that ever SAID we
| should be controlled in our affairs by other
nations.
He denied the charge that had been
made asains: him OF hav ng disru pied the
Democratic party. He declared that he
had been selected to rescue the party from
its nemies, and continued:
The same reasons that justify the free coin
age OF gold into money ought 10 justify the
! free coinage of silver into money. They are
! both needed for the same purpose. They are
! both needed for money
One reason why the Government should
coin both gold and silver gratuitously is that
coinage is u junction of government.
There is not q dollar in circulation to-day
that IS not creature ri law. You can in
crease the crops of wheat aud fruit, out if you
! the penitentlary. 1t is not only the right but
the duty of the Government to pr.vide enough III
money TO carry on the business of the country.
We want unlimited coinage. / don't mean
the coinage OF the American product.
He sought to refute the idea that free
coinage meant the coming CT silver for
the benefit of other nations. He declared
that imported silver would, under I'M
limited coinage. be coined for the benefit
of the people OF this country. Conlinuing G
he said:
We are told when we ask for free coinage
tha this country would be made dunn ping
ground LOT the 81 yer OF all the world. l ave
a fve-acre tract of land back near Lincoln
which will hold all the silver in the world.
They say we would be threatened with Il flood
OF silver. l Will save the people from this
food by donating the use OF my piece or land
us dumping ground.
In France silver money is now coined IN the
ratio of l512 10 l, aud that country is not
likely TO senu IL TO US TO be coined in the ratio
OIL to 1. 80 a. .sE fA..7
He declared that other nations could
not spare all their silver, as 1T was used
largely in the arts and for subsidiary coins.
"If we offtr TO buy for 81 % an ounce all
the silver that is tffered 10 us" he said.
''aH the other nations would be compelled
TO pay the same price.
In explanation of why the silverites
asked Tor the ratio Uf Is I ], ne sand that
this ratio was the one in ls in this coun-
try at the present time. / or this reason,
he said, it was thought oper to main
tain this ratio. Ii anv ch.rae were nj ade
1t would necPssltate tdr rsto.uuge OF
either the gold or silver CONS. If the sill
yer dollar IS TO be re come it would mean
the recoinage of 1000. 0Gn, 900 silver dol
lars. and would decrease the silver coins
just haf, and so decrense the metallic
money of the world. He hen went on as
follows:
We want l6 to l bacaus we own property
and owe debts, and we don't want to decreas..
the value OF our property and increase the
value OF our deb,s b5 changing the ratio OF
10 TO /.
BY opening our minis va IN raise the value
of silver. Wnan Indie closed her mints it
drove down he value Of SILVER il this country
and thereby decreased the value of our prod
ucts. Thus Ly The ieg.slat - of England the
value of our silver product was affected. Yet
they tell us that 'eg!siati9;n cannot DO any
thing for silver
We have history. we have experience to
justify us in the opinion that the opening OF
our mints would raise the l|rice Of silver.
He said the Government would not be
criticized for deepening The harbnr of San
Francisco even though thereby the value
OF real estate in the, Qity would be in
creased. For the same iteason he thought
there should be no objection to the free
coinage of silver becausl the silver mine
owner would be benefited by it. He con-
cluded as follows:
We were cold that confid ence had bsen de-
stroyed by the agitator bimetaIl i>m We
were told that prospeiiti was driven out of
this country by the di.s ussion OF the silver
question; and, my lrienGs, it makes me sick
at heart to think that lttst now when conf
deuce has been iuliy restot ID laugh ter when
prosperity has come back 10 make n perms-
nent home among us-tL :. / we should send a
or I'M inn oil
the money question an A destroy confidence
in Europe.
You will see. thereforef that the American
people are committed to the princip e of BIZ
me tallIsm. Why? Beca':~e, my friends BIZ
metallism is both defens Ible in theory aud it
is necessary III TACT 1.';t me give you the
theoretical advantage OF the double stand
ard.
De la VIOLA has said ;hs If a river is fed from
two sources II Will be NOR; uniform in volume
than IL fed from one sou. ee, his explanation
being that when one oi nc feeders Is swol ZEN
the other may be low al |, wee versa. There
fore the voln me OF watet in the river will
change less than ii it is ifea from one source,
and must change with the change in one
feeder.
This illustrates bimet; lism. In bimetal-
ism the volume OF mone' is derived from two
sources-tne gold mines d I'd the silver mines
In the beeinning OF The u:ntury we were Iro-
ducinC $3 OF silver to 81 t,f gold Fifty years
later the world produced $3 OF GOLD 10 81 Of
silver. Then silver iucrej ,ed aud within the
last two years gold has jncreased dn produc-
ton. But ii the volume oi money is led from
TWO sources that Voumd is less changeable
and the value of the dolla! is less fluciuating
than if the volume Of In ney Is fed from one
source, whether 1t be gold or sill YER
On this point, howe"er, want to remind
you that it is necessary thi. the debtor shall
nave the option in order n maintain bimetal-
llsm.
How can you compel tie fl ancier to help
maintain the parity? BY .raktng il TO mis- al.
vantage TO maintain the parity GIVE the op-
ZION 10 the creditor and ! Jal i, the result?
Why, you say 10 the credit class that if they
viii use their influence drive the metais
apart ana force one meta . \ preir.rm that
then you will give them tie right 10 demand
the premium ana ;hus pre- lrt by tneir action in
forcing the metals apart.
Those VINO saw that we must have interna-
tlonal 0imei allism, that "; llust main tain the
gold standard unIi fore; II nations jotn us,
are adopting policy whif;1, in my Judgment,
VIII never result IN securi e III aid of foreign
nations. You ask me why wa .tina Tor an In.
ternational agreement ,ind Irom!s sing to
main tain the gold StsndA ID until il comes
will fail to bring bi ME tai Lii m? And will tell
YOU You SEND a commisst on abroad end wnat
viii the com mission sayJ | will give Won
about the speech that muf be made If that
platform or idea is CARRIE; out:
"The American people want bime.allism
The American people ari tired OF the gold
Standard and want 10 Get rid of il The
American people have su fe.aA from falling
prices, and While they il We suffered from
falling prices, you, the :; .lancieis VINO h)ld