The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1898-03-22
AN OUTLINE OF Mr.. BRYAN'S ARGUMENT.
TWENTY-FIVE SOLID REASONS
Bimetallism from Every Standpoint
And an Able Defcns OF Free Coin

hS HGiuuJd SOuSIlGuUlOu prints the
following synopsis Of Mr.. Bryan's argu
ment on bimetallism and free coinag,
OF silver, which in its condensed form
will prove very interesting to the
reader:
|. The Purchasing power Of q dollar
is regulated by the law of supply and
demand. Other things being equal, q
decrease in the supply Of money, or an
increase in the demand for it, will
raise the purchasing power Of Il dollar,
while an Increase in the supply, or a
decrease in the demand, will lower the
purchasing power Of u dollar.
z. Gold monOmetallism, by limiting
the coinage Of money to GOLD alone, in.
creases tho demand for gold, and this
raises the purchasing power Of an
ounce OF gold throughout the world
The increase in the purchasing power
of gold is manifested by fall in the
general level of prices.
3. The gold standard, by increasing
the purchasing power Of II dollar and
lowering prices, transfers to the Crcdi-
tors, money owners, money changers
and holders and fixed investments the
property and earnings OF the wealth
producing classes and thus not only re-
tards production, encourages boarding
and discourages enterprise. but is, in
elect, grand larceny under the 0uisc
of law.
/. The gold standard is supported In
the United States and elsewhere by
the classes which derive profit from
it, namely, by the creditors, money
owners, money changers and holders OF
liked investments, while 1T is opposed
in the United States and elscwhcr by
the classes injured by il, namely; the
debtors and producers Of wealth.
"A N n hn Al oil
wealth producing classes is permanent
because it is not offset by any advant
age to them or to their pusterity: the
capitalistic classes. on the other hand
cannot AFFORD to advocate the gold
standard even though it does increase
the value OF their dollars, and invest
ments, because an injustice wrought
by law is as indefensibe as wrong in
tlicted in violation OF law, and no ore
can afford to bequeath to posterity a
vicious policy OF governp.en or an un-
just law.
6. The advocates of bimetallsm, by
pointing out their own participation in
the advantages OF bimctallism give
evidence of their sincerity, as we'll as
| their knowledge OF the subject, while
the beneiiciaries OF the gold standard
prove either Cheir insincerity or their
ignorance OF the subject by disclaim-
ing any personal interest in gold
mOnometallism.
T. The advantages OF the double
standard are SO obvious and the evils
of the single gold standard SO apparent
that bimetalli;m has been more uni
versally indorsCd by the American pco-
pie than any oJher financial policy this
na.3U, is ever had; while gold mono
metallism has been more univ ersall v
| condemned than any ether financial
policy. -
s. Int Jrep and unlimited coinage OF
gold and silver at u fixed ratio (irst, At
the ratio Of ID TO /, and afterwards at
IL to y into full legal tender money b.
gan in the United States in 1892 and
continued until 1913, eighty.onc years,
and during that entire period no pOliti-
cal party ever condemned the system
in q national convention.
| o. The gold standard was establishod d
in 1913 without any party asking for it,
without the people discussing IL and
without the members OF congress un-
derstandiug the purpose and eject Of
the law.
10. During the twcnty-three years
extending from 1873 to 1896 no political
party of any time ever defended the
act Of 1873 demonctiZing silver or
adopted II national platform declaring
the gold standard to be blessing to
the people Of the United States.
II. In 1892, after nineteen years eX-
pcrience under the gold standard, the
| Democrats, Republicans aLd Populisis
all declared for bimctallism differing
only as to the means Of securing it,
II. In 1896 the Democrats, Populi is
and members Of the national silver
party united in demanding the i'm
mediate restoration OF the free and un-
limited coinage OF gold and silver at
the present legal ratio Of Ii to | with
out waiting for the aid or consent of
any other nation, and the Republican
party pledged itself to promote inter
national bimetallism, while the boiling
| Democrats, after advocating Inter
national bimctallism in the Chicago
convention, adopted gold platform at
the indianapolis convention.
l3. If platforms can be accepted as
indicating the wishes of those who
support them, then in 1896 six and Il
half million voters expressed u desire
| for independent bimetallism, seven
millions declared for international
bimetallism and only one hundred and
thlrty-two thousand supported the
| platform adopted by the boiling demo.
crats-the only gold platform ever
adopted by national convention in
the entire history Of the country.
| IA. Presi lent Mckinley, by sending
q commiss. 10 Europe, and Repub-
lican Congress, by appropriaJing $780,
| OOO to pay The expenses OF the com
mission, have admitted that the gold
standard is unsatisfactory to the peo-
| pie OF the United States. international
bimetallism is only defensibe upon the
theory that the gold standard is u
failure.
| Is. France has had the gold stand.
ard for more than twenty years, and yet
by joining our commission in It's effort
| in the restoration OF bimetailism,
France declared the gold standard to
be unsatisfactory
IL. On the 18th Gay Of March, 1896, the
English house of commons, bv unani-
nous vote, adopted the following reso.
luton: THAT this house is OF tho
opinion that the instability of the rcla-
tive value of goll and silver since the
action oi the Latin union In 1873 has
proved injurious to the best interests
OF this country, and urges upon the
government The advisability OF do
ing all in cir power tn secure, by In.
ternational agreement, stable none.
tary par O. exchange between gold and
silvor.' BY adopting the above resou-
| tion the house OF commons protested
against u universal gold standard.
| IL. Between March II, 1896 and No
vember l., SD7, many English manufac-
turers anC merchants petitioned the
goverl ment to carry out the pledge
given by the house OF commons and aid
in the restoration of bimetallism; dur.
| ing the same period $50 labor orpaDiZa-