Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1899-04-21
BECOMING UNITED.
ISSUES OF THE NEXT NATIONAL
CAMPAIGN APPARENT.


to the Currency Question Renewed vi.
tality-The Growth of Trusts-The People
and lmper;alism-Th Standing Army Men
ace-The Administration Is Initiating the
MonarchIes of the Old World
The Jefferson Club of Milwaukee
observed the natal day of the founder
of Democracy at banquet which was
attended by over 400 guests, on the
night OF the 18th, at which William J
Bryan was the guest of honor and
made the principal speech. Delega-
tions were present from all over the
State and nearly all the Democrats
from the State Legislature were pres
ent. Col. Bryan arrived from Chicago
at an early hour with large party of
representative Democrats from that
city.
Colonel Bryan spoke on "Democ-
racy" He said in part:
1--WE are now near enough to the
next campaign to be able to form some
idea of the lines along which the con-
test will he fought, and am taking
no risk when l say that those who in
1896 gave their allegiance to the Chi
cago platform are united to-day in the
determination that no step taken in
1896 shall be retraced. The platform
applied to the conditions then exist
ing, the principles which had been
Democratic in the beginning of the
government. Suggestions that We
abandon the money question some
times come from those who deserted
the party in 1896, but those sugges-
tions are not supported by evidence
tending to show that the organization
in 1896 was strong, but are predicated
upon the theory that the issue upon
which the party once lost can never
be revived, and what seems most
strange, this argument is made by
those who have followed different
course in the past.
In 1888 Mr.. Cleveland was defeat
ed on the tariff issue, and yet the tariff
was made the main issue in 1892, and
Mr.. Cleveland was elected. In 1892,
Mr.. Harrison was defeated, largely on
account Of the Mckinley bill, and four
years later the author of the bill was
nominated on a platform reaflirming
the belief in protection, and was sue
cessful. Thus it is seen that in two
instances recently a losing issue in
one campaign became n winning issue
in the campaign following.
"The test ought to be not whether
the issue has been presented before,
but whether the position taken is
right. If the gold standard was un-
merited in 1896, it is unmerited now
II its maintenance was detriment to
the interests of the people of this
country then, it is a detriment now.
If in 1896 it was SO hurtful that the
Republicans promised to put forth
their best effort to substitute interna.
tional bimetalism for it, and after the
election was still so hurtful that the
President sent commission to Europe
to secure foreign aid in abandoning it,
what has happened since then to make
the American people accept it as a
blessing? If the increased discovery
of gold in Alaska had been of any adj
vantage to the United States, it is but
another evidence that the quantita-
tive theory of money is correct. II a
large balance Of trade for the United
States gives any relief because of the
money thus brought into the country,
it is an additional argument in favor
of the quantitative theory of money.
Bimetalists have contended that times
will be made better by the return of
the double standard, and by the in
creased supply of standard money
thus furnished for the business of the
country.
"While it is unnecessary to discuss
the question of ratio until some other
ratio is proposed, it may not be out OF
place to suggest that 16 to l being the
ratio at which the present gold and
silver coin circulates, it is the natural
ratio at which the mints should be re-
opened. TO increase the ratio by in
creasing the size OF the dollar would
necessitate recoinage OF our present
silver dollars into a less number of
dollars, and the increase of the ratio
made throughout the world would re-
suit in large decrease in abe volume
of standard money, and since the
value of dollar depends on the num-
Der OF dollars such a change would
necessarily increase the purchasing
power of a dollar and increase the bur-
den of debts. 1t would be equivalent
to transfer by legislation of a vast
amount of wealth from the producing
classes to the money-owning classes.
"The attempt of the Republican
party to retire the greenbacks and
substitute for them national notes
will give to the question a greater
prominence than it enjoyed in 1896.
During the war the national bank
note never became more valuable than
the greenback because it was redeem
able in the greenback. The national