The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-24

New OIk, april DellllOhl
has replied at length in an open letter
to Colonel William ]. Bryan's recent
communication, continuing the discus
sion brought about by the recent Jeffer-
son banquet in this city. In his letter
Mr.. Belmont says:
1.-The dispute we are in over the Chi
cago platform was not begun by any
word or wish of mine. You We're in
vited to dine with the Democratic club
on the anniversary of Jefferson's birth
day, which the club has heretofore cele-
brated. Instead of accepting or declin-
ing the invitation, you asked my pres
ent opinion of the Chicago platform of
three years ago. / replied for the club
that individual opinions had nothing to
10 with the invitation. Thereupon You
eut me a personal letter describing me
a Republican masquerading as d
Democrat, as unfit to celebrate the an
1iversary of Jeffersons birthday be-
cause / condemned the Chicago plat
form and your candidacy, and alto
gether displaying an undisguised inten-
ton to be offensive while ostensibly
answering a dinner invitation.
Had more consideration been given
to your accusation, you would have seen
that those who endeavor to persuade
=
discarded inventions of Republicans are
The masqueraders, and not those who
stand in the old paths hallowed by the
footsteps of jefferson, Madison and
Jackson.
Populism Once Republication.
Influence of Populism over the DEM
ocratic party is to be condemned, be-
cause the Populists promote repudia-
ton of debts by advocating the issue of
government unlimited. unredeemable,
full legal tender paper dollars. Popu-
lism assails not only wealth organized
in the hands of corporations, syndicateS
and trusts, which, when, so held, is too
often INSCRIPTIONS. corrupt and OPP
pressive. But Populism goes farther;
it assaiis wealth in the hands of indi
viduals honorably acquired and used,
salaries and wages.
Republicans invented the full legal
tender greenback, put the invention on
the statute books in 1862 against a
united Democratic vote, packed the
supreme court with Republican judges
to reverse a previous condemnation of
the legislation by Democratic bench.
1t was by Democratic conventions
throughout the country that this enact
ment was denounced.
Republicans in congress later on re-
fused to keep the promise to pay and
cancel greenbacks, and by refusal made
them of changing value in the markets
and in payment of debts, as the Demo-
cratic platform of 1876 declared.
The National Banking System.
Republicans created the national
banking system and by a. 10 per cent
tax on the circulation of notes of state
banks. which tax was not laid for reve-
nue., drove out of existence all state
institutions issuing bank notes, which
issue a Democratic supreme court had
decided was their constitutional right
The Democratic national convention of
1892 urged the repeal of that tax.
Republicans in congress put an end
In 1873 to free bimetallic coinage.
Republicans. led by Sherman in the
treasury and Allison in the senate, in
1873 substituted BANDS restoration of
free bimetallic coinage, which had
passed the house, the Allison law au-
thorizing the treasury to purchase sill
Yer bullion in limited quantity and to
coin it only for the government into
fun legal tender silver dollars. Under
this influence silver parted company
with gold. Then the gold price of silver
bullion was $l.15; now ii is less than 60
cents.
The Chicago Platform.
1.-THE condition of the country in 1895
and 1886 by reason of business and COM
mercial depression which began three
years before owing 10 the Sherman sill
yer law, whose repeal You resisted. the
'endless chain" short crops, long
western droughts, diminished foreign
demand for our cereals and reduced |
prices everywhere, offered fertile field |
for your efforts. Under the present |
changed conditions we can calmly !
analyze the novelties Of the Chicago |
platform.
Ut began by affirming that the first /
coinage law of 1892 made the silver DOL |
lar the money unit That is a matter /
OF statute Interpretation and has been |
much debated. jefferson said, as you |
have mentioned in your letter TO me, |
that the unit should 'repose on both |
metals" and so it is probable that the |
draugntSnaen of the law of 1892 in |
tended bimerallic standard.
1T declared that the Democracy was !
unalterably opposed to monometal- |
ism hut the trainers of the Chicago |
platform urged what the country be- |
iieved would be silver monometallism.
MANY things demanded by the plat
form could be done only by congress.
such as opening our minis to silver and |
gold alike, on i fixed ratio legislation
fe prevent freedom of contracts by
making debts payable not in such a
dollar as contractors preferred, eXtinc
ton of the national bank notes, and
making government notes the only
paper currency.
Grant of Other Demands.
THE right TO grant other demands
such as. for example. the refusal to
government creditors of the right,
existing for twenty years. to select the
coin of payment whether silver or
sold-yas, and is now perhaps, in the
discretion OF the secretary of the treas
my. TO whom the law has so generally
given decision in those matters. 1t is
not given 10 the president. The Chi
cago platform clearly intended that the
president should nominate and, if the
senate confirmed, appoint a head of
the treasury who should forthwith pay
all government creditors in silver dol
lars. the gold price Of the bullion in
each of which was then worth q trifie
over 50 cents. You may say that you
believed at the time that the opening
of our minis to everybody's silver on
the ratio of 10 (the bullion ratio in 1886
was over 800, without waiting for the
aid or consent of any other nation,
would bring Is ounces of silver to a
parity with an ounce of
gold. but, if you did, there We're prob
ably very few experts in any country
who sympathized with your belief All
felt that the time would be far off. If
\. ever came. when such parity could
exist. The Chicago platform plan.
however, was not to await the opening
of our minis by congress and the ar
rival of parity, but for the treasury 70