The Providence news. (Providence [R.I.]) 1891-1906, 1899-04-14

banquet at the Plankinton last night.
William J. Bryan of Nebraska was the
guest OF honor, and delivered the prin-
oipal address. The banquet hall was
beautifully decorated. He spoke on
Democracy" and 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 contest
will be fought, and i am taking no risk
when / say that those who in 1896 gave
their allegiance to the Chicago platform
are as united today In the determination
that no step taken in 1896 shall be re-
traced. That platform applied to the
condition then existing. the principles
which had been Democratic from the
beginning OF the government. Sugges-
tions that we abandon the money ques-
tion some times come from those who
deserted the party in 1886 but those
suggestions arc not supported by evil
dence tending TO show that the position
IN 1896 was wrong, but was predicat ted
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 a different course in tho
past.
I'm 1888 Mr. Cleveland was defeated
on the tariff issue, and yet the tariff was
made the main issue in 1892, and Mr..
Cleveland was elected In 1892 Mr.. Har-
rison was defeated largely on account
OF the Mckinley bill. and four years
later the aulhor OF the bill was nom
mated upon platform reahirming the
belief i'm protection, and was success
a I..s L.. tt1
stances recently "a losing issue in one
campaign became a 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. II
the gold standard was unmerited In
1896 IL is unmerited now. III its mainte-
nance was a detriment 20 the interests
of the people OF this country then IL is "a
detriment now. IL in 1896 1t was so
hurtful that the Republicans promised
10 put forth their best efforts to substi
tute International bimetallism for II, and
after the election was still so hurtful
that the president sent commission TO
Europe TO secure foreign aid in aban-
doning IL. what has happened since then
TO make the American people accept II
as pleasing? If an increased dis
covery of gold in Alaska has been OF
advantage to the United States. IL Ss
but another evidence that the quanta-
tive theory OF money is correct. IL a
large balance of trade in favor of the
United States gives any relief becaus
Of the money thus brought into the
country. il is an additional argument
I'm favor Of the quantative theory OF
money.
"Bimetallists 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 coun-
try. While ii is unnecessary to discuss
the question of ratio until some other
ratio is proposed, 1t may not be out of
place TO suggest that 16 to l. being the
ratio at which the present gold and
silver coins circulate. is the natural
ratio at which the mints should be re-
opened. To increase the ratio by in
craasing the size of the silver dollar
would necessitate the recoinage of our
present silver dollars into alless number
of dollars. and the increase OF the ratio
made throughout the world would re-
suit in a large decrease in the volume
of standard money. and since the value
of dollar depends on the number OF
dollars such a change will necessarily
increase the purchasing power OF a dol
lar and Increase the burden OF its debts.
1t would be equivalent to a transfer by
LEGISLATION of a vast amount Of wealth
from the producing classes TO the money
owning classes. The attempt Of the
Republican party 10 retire the green
backs and substitute for them national
bank notes. will give to that question a
greater prominence than it enjoyed in
1896.
THE trusts are now absorbing an in
creasing share OF public attention be-
cause of their rapid growth during the
last two years. We had sugar trust
and an OIL trust some years ago, We now
have biscuit trust and a match trust
and meat trust,in fact trust in almost
everything that is used. The MIX trust
reaches the infant as he enters the world.
the ice trust cools him in the summer,
the coal trust Keeps him warm in the
winter. while the coffin trust waits TO
receive him when lifes ftfu dream is
over. The people are beginning to see
what the principle OF monopoly really
means. and yet the principle Of monopoly
so plainly Illustrated by the industrial
tluslSs COOS not bhAtI at AT lIoil lnc
principle OF monopoly which under,ies
both the gold standard and the paper
money trusts.
The Democratic party Is prepared 10
face the future and meet Issues without
abandoning the old.
THE Republican party has demanded
that the standing army be increased 70
100000 men. II citizens horn in the
United states are ignorant OF the bur
dens OF standing army they can re-
ceive instructions from those born In
European countries. MANY Europeans