The Maryville times. (Maryville, Tenn.) 1884-1944, 1898-11-19
TWO BRYANlTE DEMANDS.
tive Features to Suit Their
Purpose.

The Bryanites ask for the free COIN
age Of silver at the ratio of sixteen
to one. That is the same as demanding
a silver standard and a dollar whose
purchasing power must be the same
as that Of 371H grains of silver. The
Bryanites also ask for legislation of a
retroactive character, dealing with ex-
listing contracts made on the gold
standard basis as if they had been
made on the silver standard basis. As
the purchasing power of the GOLD
standard dollar is to that OF the pro-
posed silver standard dollar of 317A
grains, coined free, as 100 is to about
40, the effect of this retroactive legis-
lation would be to scale down all cred
its about 60 per cent. Deposits in saw
ings and commercial banks and de-
ferred payments of all kinds would
shrink that much in value,
Common honesty demands that when
money standard is changed either
way contracts made ON the basis of
the old standard should not be dis
turbed. 1t is not necessary they
should be disturbed. All that is need
ed is a provision in the law changing
the standard to the effect that while
all future contracts shall be taken as
made on the basis of the new stand
ard, all existing contracts shall be set
tied in accordance with the old stand
ard of values. Thus sixteen to one
free coinage law can declare that ex-
listing obligations of all kinds, having
been contracted when dollar" meant
90 is grains of gold and not BIN
grains of silver, must be settled by the
payment of gold values, and not by
the payment OF an equivalent number
OF silver standard dollars worth less
than half as much as the gold value
dollars.
But the democrats refuse to insert
such a provision as this in their free
coinage measure. They insist on a
law with retroactive features en-
abling whoever owes 30 is grains OF
gold 10 demand receipt in full on
the payment of 371A grains OF sill
yer, the latter, however, being worth
half as much as the former. And yet,
while they bring forward many argu-
ments to persuade the public that the
silver standard is better than the
gold standard, and that dollar buy
ing only half what the gold value dol
lar buys will be better dollar, they
never adduce one argument in support
of their contention that that cheap
er dollar would be given by law
the same debt paying power as the
more valuable dollar. Why are they
so profuse in arguments for one
change and so silent concerning the
other? Evidently because the prop
osition to pay all savings bank depos-
itors and other creditors only 40 per
cent. of what is due them is so mon
strous that it cannot be defended.
They do not explain and defend the
retroactive features of their onetary
scheme because they do not see any
thing to be gained by doing so. They
believe that all dishonesty inclined
debtors, whether democrats or repub-
licans, do not need to be told what
retroactive free coinage legislation
will do for them. But there are mil
lions of ignorant, thoughtless voters
who would-though they do not know
it-be sorely harmed by such legisla-
ton. They would be robbed of their saw
ings banks deposits and deprived of
employment. II the democratic
stump-speakers explained to these IL
literate people, whose votes they
hope for, the effects of the retroactive
legislation which is asked for, those
voters would vote against democratic
candidates.
Therefore, Bryan, Altgeld and the
lesser lights of free silver are silent
on this point, Their hope of sue
cess is based on a combination of the
dishonesty and ignorance of the cum
munity. If they demanded nothing
more than a change of the money
standard, that change being made APP
plicable to future transactions only,
they might get the support of the
ignorant, but would have no reason
to expect the jealous cooperation OF
the dishonest. That is why the Bry-
antics couple together two demands
for sixteen to one" and for retro
active legislation-the first Of which
they defend in labored arguments,
while the second is never discussed by
them.-Chicago Tribune.