The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-12-22
SILVER REPUBLICANS
Issue an Address Setting Forth
That 1t Has Been Proven
That They Were Right.
Special to News-Democrat.

Special to News-Democrat.
Washington, Dec. 19.-The silver Re-
publican leaders of this city, after the
passage of the financial bill, issued an
address setting forth their views.
Iney accused the.president and lead
ers OF the Republican party of insin-
cerity in declaring in the st. Louis
platfarm for by bimetalhsm by inter-
ational agreement. They said that
by this means millions of voters were
held in line.
AS soon as the election was over the
great Republican newspapers began to
discard their convenient antiquities
about sound money and honest money
and to claim the result as definite YER
dict in favor of gold. The president
soon showed by his actions that he no
longer considered the prediction con.
struction of the platform to be binding.
His appointment as secretary of the
treasury of perhaps the most conspicu-
GUS gold standard advocate among the
great bankers of the country was obvi.
ously not especially designed to "pro-
mote" any kind of bimetallism. To be
sure there was sent abroad the alleged
international monetary commission.
But for fear that after all foreign gov
ernments might take the procedure seri-
ously, he sent to Congress in July, 1897,
at the very moment when his commits
sion's proposals were before the English
cabinet, special message recommend
ing the so.cailed Indianapolis monetary
convention plan, with its program of
the single gold standard, retirement of
the greenbacks and extension of the
powers, privileges and immunities of
the national banks. Meantime his Sec
retary Of the trearury was declaring in
interview after interview, most of which
were carefully reproduced in Europe
that bimetallism of any kind. interna-
tlonal or otherwise, was not only impos.
slblo, but undesirable.
"The statement further said in part:
"-he international agreement for the
free coinage OF silver having failed to
be promoted steps are now taken to
insure that the gold standard shall be
preserved.
"rhe present bill preserves it with
vengeance. The vast bonded debt of
the country now payable in 'coin,' that
is either in gold or silver, is to be made
payable in gold alone. Nearly half a
billion of standard silver dollars, here.
tOfore not redeemable in ANYTHING not
constituting a burden ON either the gold
reserve or the credit of the government.
but forming large percentage of our
basic money, redeemable in gold, thus
increasing tremendously the strain on
that metal and becoming an endless
chain with which to pull gold from
the treasury and affording an excuse
for the final destruction of the silver
dollars as money, and their forced sale
as bullion, after the manner Of the Ger
man procedure in 1872.
The greenbacks are to be virtually de-
stroyed by being changed into gold GER
tlficaJes, to be locked up in the treasury
and paid out only for gold. The tax on
the circulation OF the national banks is
to be reduced and the amount of the
bank currency they may issue on gov
ernment bonds deposited is to be IN
from 80 per cent to par of the
bonds, thus making their business enor-
mously more profitable, opening the
way to an immediate possible imitation
OF banknotes, not legal tender, excellent
for getting into debt ON but unavailable
for getting out of debt with. to the ex-
tent OF 5000, 100000; and placing the
regulation of the volume of money, and
hence the determination of prices and
the burden OF debts absolutely in the
power OF the banks and the creditor
class.
This statement is signed by Charles
A. Towne, chairman committees; Henry
M. Teller, r. II. Pettigrew, Frank j.
Cannon, Edgar Wilson, Charles s. Hart
man, John Shafroth and Fred T. Du.
bOis. chairman avAcntiUa "o"'"i'tA~