Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1899-06-30
THE eleventh HOUR.

Under the above head the OreJOniGn
OF June 10, published the following
editorial. 1t shows that the Repub-
licans are fearful of the result next
year if they do not keep few Of their
many promises,
is exasperating to find Repub-
lican politicians at this late day
deprecating assertion of the gold
standard and measures in its behalf.
There might have been some excuse
for their intelligence once when the
gold standard was not popularity un-
derstood, though there was no excuse
for their falseness. But the man who
turns pale at the word "gold" to day
is fool as we'll as coward.
The Republican party was elected
to power in 1896 to reform the cur
rency. Bryan preached 16 to l,
which was only one line of assault
upon the gold standard. But the
Republican party stood for something
positive. 1t pledged itself to more
than resistance to free silver. 1t said {:
All our silver and paper currency
must be maintained at parity with
gold; and we favor all measures de-
signed to maintain inviolably the
obligations of the United States, and
all our money, whether coin or paper,
at the present standard, the standard
OF the most enlightened nations of
the earth.
1t is three years ago yesterday since
that pledge was given to the Ameri-
can people, and what has been done to
redeem it? Absolutely nothing. Cali
our silver and paper currency must be
maintained at parity with gold" But
the currency cannot maintain itself.
Under present laws, it is maintained
only with great difficulty and cost.
Sometimes the strain has all but
broken the cable that bound us to
gold parity. The danger is with us
yet. Something must be done to en-
act the gold standard safely and surely.
Otherwise panic or an election may
send us to silver basis.
How do we know the United States
intends to maintain its obligations
inviolably at the present gold stand
ard? We don't know it. Congress
has been in session much OF the time
in the past three years, and the only
indication furnished as to the stand
ard is the declaration OF the Senate
that our obligations are payable in
silver. The party that sought and
obtained votes on its pledge to main
tain the currency at parity with gold,
its pledge in behalf of reformatory
measures, has made no sign. 1t has
been afraid to declare that the stand
ard of value is the dollar of 1922
grains of gold. 1t has been afraid to
say that the debts of the United
States. bonds and currency, shall be
paid in gold values. 1t has been
afraid, and is afraid to-day, to say that
the government should pay its green
back war debt as soon as it can and
turn the issue OF credit currency over
to the business OF the country. 1t is
afraid to permit national banks to is
sue dollar for dollar against the bonds
they are required to buy and deposit
as security. 1t is afraid to permit es-
tablshment Of banks in small places
where capital of only $4,000 is re-
quired. 1t is afraid of all these just
and necessary things it has promised
to do because fiatist delusions still ex-
ist among the voters. Men shrink
from their duty through fear of losing
few votes, and they are credulous
enough to suppose that those who be-
lieved in their pledges are unable to
see they have been betrayed, and too
spiritless to resent the periidy. For
fear of losing a few silver votes that are
out of their reach anyway, they are
willing to offend the loyal gold-stand-
ard Democrats who in 1896 left their
party the better to serve their coun-
try.
Three years have passed since the
pledges of 1896 were made, and in
another year the issues will be made
up again. If the Republican party
meant anything at st. Louis except
promises that were to be broken, Con-
gress should be convened as soon as
the summer is over, and create some
evidence of good faith. 1t is the