The San Francisco call., 1898-03-05
THE REPUBLICAN. PLATFORM.

N N the Republican platform, and, like MT ! Bryan. he declares that what they cali bi- metallsm is admitted by that platform to be good thing, but this country is not to have 1t without the consent of Europe.
 Of course the platform is not susceptible ot any such construction. It does not consider the tree coinage of silver by the United States at 10 to as a good thing at all It pledges the party to much such agreement with other nations as that between the states of the Latin Union, by which the ratio and volume of coinage were agreed to by the several state parties to the treaty The Republican platform does not ndorse nor foster the idea that, in default of such international agreement, free coinage at Io to I could be or should be attempted by the United States alone.
 The reasons for this position sound and are obvious to any who chooses to think on the sub iect If this country England France and Ger many agree to coin silver equally with gold at fixed ratio their joint primacy of the and finance of the world would make impossible the driving of gold out of circulation within the territory of of them and its absorption by the others. Each would retain its normal gold circulation because other would get profit in reaching for it. The flow from one to another of both gold and silver would be the normal circulation for in adjusting trade balances and would neither inconvenience nor alarm. It would be exactly that process described by MT. Jefferson. He said our standard of value should be the that of the nations with which our com mercia intercourse is the greatest and then 1t would flow benehcially from the country where it was too plentiful to that in which it was too scarce.
 Now let HIS consider the difference between this system and that proposed by Messrs. Towne Bryan and the fiatists They wish to compel the United States independently of other nations, to adopt free coinage at the ratio of I6 to I. The effect of this will be totally different from that of international agreement. It will set in operation the Gresham law, and fast silver coinage increases the gold will be driven out to the gold-usng nations. Finally our gold will disappear, just it has dis appeared from every free coinage country Tn the world and we will be left upon a silver metallic basis.
 Here then the two systems between which the country is invited to choose. The Republican posi- ton Is that in default of the international agreement our standard of value shall remain It is This was its position in 18o6 and every who voted its ticket so understood it. There ntinlation in the platform or elsewhere that if an international agreement were not made the party would go to Mir. Bryan.
 President Mckinley has in good faith carried out the platform He appointed commission of free silver men, of them supporter of MT. Bryan to visit European Governments and negotiate for international agreement coinage. So far this effort has not been successful, but it will not be linquished If 1t have any chance of success 1t will immediately disappear upon the of Mr. Bryans policy. Henri Cernuschi and all European bmetaiss repeatedly declared that the dominant ob stacle to international agreement has always been the agitation in the United States for such indepen dent action as MT. Bryan proposes.
 Therefore, stripped of its gaudy verbage, Mir is that froo, he standard, with large of legal tender silver and circulation of the coins of both metals at joint par to the silver standard with contraction of the currency by driving gold away, and circulation of silver alone at the silver par, depreciation Of about 50 per cent and issue of fiat paper fill the vacuum left by gold, which in its will, under the Gresham law, drive out silver.
 No rant nor fustian can conceal so plain an issue Ii the fortunes of partisan warfare compel the Repub lcan party to give battle again upon that issue will be found ready and if its position bring to its sup port the sound money men who value the financial stability and honor of their country above party names it will keep faith with them and the country