The Denison review. [volume] (Denison, Iowa) 1867-current, 1898-11-15

81 NOO
MHAKRERK2HAN H
The government. Then said he, ''If
that is so Good Lord, I am not silver
man any longer" (Applause.)
Lest some one should go away de-
ceived at this point, let me call your
to what Mr.. Bryan said on
this subject the first time he was here.
In the beginning of his speech, he said,
ut is not proposed that the govern
ment shall buy the silver bullion or the
silver coin after coinage" He further
said, They tell us that the free coin
age of silver would make this country
a dumping ground for the silver of the
world" Then to show the fallacy of
such a proposition he used this illus
tration. Suppose, said Mr.. Bryan,
"a man came from England to this
country, bringing with him quantity
of silver bullion, and he should have it
coined by the government free. The
government does not buy the bullion,
nor the coin, but the bullion before
coinage and the coin after coinage, be-
longs to the Engllshman. He can now''
says Mr.. Bryan. ''do either one of three
things. First, he can take his silver
coin home with him, but if he does he
will be compelled to pay express
both ways, and we can stand that as
long as he can. Second. he can sink it
in the sea, and we can stand that long
er than he can. Third. he can buy
something with it, but if he does this,'
says Mr.. Bryan. she will be compelled
to find some one who is willing to part
with his property for the silver, and
then it is mere business transaction
between the two, and none of our par
ticular concern"
My friends, is not that catchy? Do
you see the fallacy in it? Do you de-
tect wherein the Englishman could
harm us with his money? Certainly he
car take it home with him, and it will
not harm us. Admittedly he can sink
it in the sea, and not harm us with it.
But l think can show you how he can
buy something with it, and do us last
ing harm. Let us go back for an illus
tration. During theNwar we we're on a
greenback basis. The man who bought
goods abroad was then compelled t.
pay therefore in gold, as he is now, and
there was no place for him to get gold,
except of the gold broker. He was
compelled to pay what the gold broker
asked, and because the gold broker de-
manded premium, the two kinds of
money, paper and gold, parted COM
pany, and we used paper only. Sup
pose now that our English friend, with
his newly coined silver dollars, goes
down on Broadway, finds again the old
gold broker doing business. He says
to him, Have you any gold. STRIP" And
receiving an affirmative answer, he
tells him, II have some newly coined
silver dollars. l brought my silver
over here, thinking that the United
States afforded an excellent market
therefor. now desire to exchange it
for gold.' ''On what terms do you ex-
pect to exchanged" says the broker.
The Englishman says, s'Of course, at
par, dollar for dollar" Do you think,
my friends, the gold broker will ex-
change it that way. He will answer,
mo sir, with one gold dollar | can
purchase silver bullion enough to make
TWO silver dollars, and rather than to
exchange with you, dollar for dollar,
Will purchase bullion, and have my sill
yer dollars coined free the same as you
have done. have been in business
too long, sir, to be caught in that way
used to do business on the greenback
basis, and traded then gold for green.
backs at the market ratio. will now
trade, as a matter of accommodation
to you, my gold for your silver at the
market ratio. | can get gold and silver
bullion coined free, and will trade will
you at market value of bullion. Colo
coin is worth no more than gold bullion
silver coin worth no more than silvel
bullion, for both are coined free. A
the market ratio of gold and silve
practically one dollar in gold buys two
dollars in silver and will trade at tina
ratio" Our English friend, findin,
that he has gained nothing by having
his silver coined. rather than to ship j
back with him and pay express charge
makes the trade. 1t is to his advan