The times. [volume] (Richmond, Va.) 1890-1903, 1899-12-13

ZOE SIBLEY'S CONFESSION
Hon Joseph G.. slboy was one OF me
mos, ardent Of the free silver advocates
On the East during the campaign OF 1896.
and 70 is conceded that he could have had
second place ora the Democratic ticket
had ne so desired. Indeed he was the
favmite eastern candidate Of the silver
wing Of the Democratic party for the
Presidential nomination. But Mr. Sib-
Sov's views have undergone a radical
change. and be is now as completely
out Of line with the Bryan Democracy
as the most extreme goldbug in the
land Tn the Washington Post Of yes
terday ne sets forth his views at length.
81 VIII start out. said he. by saying
that 7 am and have been a pronounced
believer in the principles of bimetaliism'
I don't care whether IL he national or in
tcruatlouu bimetallism, nor am l welded
10 any ratio. But Aristotle Adam
smith. John Locke. John Stuart MIL
Francis Way'and and. in fact every
great writer on political economy has
LAID down the proposition that the vol
ume of money in any country deter
mined The prices of IT'S products
"Bimotallism was a living issue In
1896. but the conditions have changed.
I'm that wear I publicly predicted that if
Mckinley and the gold standard were
successful prices would fail with cor
responding increase In tho purchasing
power Of the gold dollar, and We would
have an era OF hard times and CONNER
cial depression such as this country has
seldom Witnessed. Now ] look around
me and see the FORCES blazing. the fires
lighted n an the furnaces. the shuttcs
weaving and the looms spinning. every
man who has a days labor 90 sell tino-
ing "a ready market for 10. our ships
loaded 90 the plims0n line with exports
bound for am parts Of the world. and
everywhere plenty and prosperity And
SO f. occurs o. mo that somebody must
have been mistaken. and perhaps that
fellow was me-
or have been pessimist for long
time. but ] am now an optimist. believe
that We have @ better Congress now than
ever bcf0rc-that We have "a better Presi-
dent. and that the next President. wheth-
or lt be Mckinley or Bryan. Viii be bet
ter stn The world is moving fore
ward
There are thousands ana tens Of thou
sands of Democrats whose views have
undergone similar change, but it is
hard for public man TO stand nap ana
acknowledge that he made a mistake.
Dr. takes courage and plenty OF it to
tank like Joe sIbley talks. But ne has
shown the Democratic party the way ont
of is dmrlitics. 1T has been argued that
20 cannot abandon free silver. for that TO
do So were TO abandon its principles
We DO mot SO regard it, Free silver is
not Democratic principle. 10 was
adopted at Chicago I'm 1896 as financial
policy. bur as Mr. s.biey so well says.
subsequent developments have shown
that the party was altogether wrong as
20 its proruosticauous ana It is no COM
promise of principle for party or person
TO own mp to am error Of Judgment
Mr. sblcy says that the bimetallists
were absolutely correct in their conten-
ton that a greater value of money Of
final redemption was needed 20 stimulate
business enterprise ana check falling
prices. But Doe admits that the onor-
nous increase in the worlds output OF
gold has met the demand for "a greater
yame Of redemption money and elimi-
natca the demand for the free coinage
of silver That proposition, however
need not be discussed. Admit an that
be saws for the sake of the argument