Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-05-26
Mr.. BRYAN ON THE MONEY ISSUE.

citizen or class VI C4liASuS'
ME-. BRYAN ON THE MONEY ISSUE.
Everybody knows where Mr.. William
Jennings Bryan stands on the money
question. If there is anything that Mr..
BRYAN especially is not, it is trimmer
He has recently taken occasion to de-
fine his position anew and to state what
he believes should be the attitude OF
the Democratic party in the next ma
tional campaign.
That the money question is still the
paramount issue is self-evident truth
1t will continue 10 be until it is settled
and settled rightly. The experience OF
the country since the presidential cleo
tion has demonstrated that fact even
more clearly than was shown by the
industrial conditions in the years pre-
ceding it. The promises that were
made in case of the election Of the can
didates of party favoring the main
tenance of the gold standard have not
been fulfilled. The hope OF prosperity
resulting from that election has been
disappointed.
Mr.. Bryan is right in asserting that
recommendation is IAN un-Amerlcan
and anti-American financial policy
That is true. whether it be gold mono
metallism or silver monometalllsm'
The true American policy, the true
Democratic policy, is the restoration
of the free and unlimited coinage OF
both silver and gold at the present
legal ratio of Is to /. without waiting
for the aid or consent Of any other ma
ton. That is the historic American
policy. The United States established
IT'S financial system at the beginning
without consulting any other nation
It lived and prospered Gder that sys-
tenn. and ii was an evil day for the
country when, by trick in the
interests of outsiders, 1t departed
from the historic policy by legislating
against one of the money metals.
It is true Democratic doctrine that
the silver dollar should be legal ten
der equally with gold for all debts,
public and private, and that the govern
ment should maintain the right to re-
deem coin obligations in either gold
or silver. That is the law now, and the
government should carry the law into
effect. 1t was an un-Democratic and
an un-American policy that legislated
against the further coinage OF silver
N equal terms with gold. 1t is an I'M
wise policy for either Democratic or
Republican administrations to nullify
in practice the laws which give equal
right in payment of obligations to gold
and the existing silver dollars.
There is one point, however, in Mr..
Bryan's statement that is open to crit
icism. in our judgment, namely, his
opposition to any plan Of retiring the
greenbacks and every form of treas
ury notes issued as money. These
are simply fiat money, and as such are
opposed to sound Democratic doctrine.
We do not believe the government
ought to remain in the banking busl-
ness any longer than it takes to get
out of it. As the Cleveland Plain
Dealer puts it, the issue of the green
back was an expedient born OF the ne
cessities Of the government in war time
Whether wise or otherwise at the time
the conditions are now different and
the argument in support Of the policy
no longer applies. The government
should return as fast as practicable
TO its legitimate function of coming
money instead of issuing promises to
pay and calling them money.
As long as the greenbacks are in eX-
istence. with compulsory reissue when
redeemed. and the government con-
siders it to be its duty TO redeem them
in gold only. so long will they be a
source of danger to our financial sys-
TEN. The "endless chain will be put
in motion whenever the gold syndicates
can see profit in the operation, and
increase of bonded Indebtedness will be
the inevitable result. The only safe
way is to take the government out Of
the banking business as quickly as it
can be done without violent financial
disturbance and to establish sound
banking system by which all the paper
money of the country would be issued
bv banks. under rigid supervision for
the security of depositors and note
holders. and every note made redeem
able in real money-gold and silver
coined by the government on equal
terms. according to the intent OF the
constitution and the language of the
laws until the disastrous departure in
1878.
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rnE SI-cAR KINGS TRIAL