The evening times., 1899-12-18
BRYAN WRITES OF GOLD.
President MckinIey's Currency Rec
concentrations Discussed.

President MckinIey'n Currency Rec
concentrations Discussed.
In discussing President McKinley's mes
sage, William J. Bryan. ovef his own sig
nature, in the 'New York Journal" gives
leading attention to that portion concern
ing the money question. Here are some of
Mr.. Bryan's comments:
Certainly the money queztion cannot be dead
when in legislation il takes precedence over
question involving the principles Of our Govern
ment and the rights of millions OF people with
whom we are at war.
II the Presidents message can be accepted as
representing the sentiment of his party, the Re-
publieans have now dropped the mask Of interna,
tional bimetalism and have adopted the Wall
Street ideas OF finance without limitation or
qualification. Most OF the advocates of BIZ
metallism believed the Republican platform prom
ise OF international bimetallism to be q de-
lusion and snare, and for this reason a large
number of sincere bmetallists left the Repub-
lican party in 30 and have not returned.
During the campaign the Republican leaders
insisted that the Republican party was friendly
to bimetallism. Immediately after his inaugura- a.
tion Mr. Mckinley sent Commission to Europe
to ask aid in the restoration Of bmetallism 1t
was pointed out by Senator Wolcott, when he re-
turned that Secretary Gage, by advocating the
gold standard, had embarrassed the work of the
Commission, but not until the recent message
was sent to Congress has the gold standard been
clearly and nnequivocally recommended 1t in
dicatcs that in the next campaign the Republic
cans will make an open fight for gold mono
metallism.
Heretofore all parties have advocated the double
standard differing only to the means Of re-
storing it, Now it will be clear cut Issue
between the double standard and the single gold
standard. ii the gold standard il accepted by
the American people it will only be question
of n short time when silver will be denied legal
lender qualities and reduced to the level OF
subsidiary coinage. Then the increasing volume
will ha .bar in. aIa ard
the creditor class will be given still larger
control over the property and livelihood Of the
debtor and producing Glasses.
II we chain ourselves to gold alone our financial
system will be disturbed by every panic in the
gold using countries of Europe. and our stock
of standard money will be subjected to an add.
tionai drain everystime new nation adopts
the gold standard Our nation will become more
and more dependent upon foreign fnanciers and
less and less able TO have independent Ameri-
can policy on any question.
The Presidents recommendation that the green
backs when redeemed shall only be issued
in exchange for gold is a covert method OF re-
firing them and substituting gold certificates.
The plan has all the force and effect of retiring
the greenbacks without the candor required for
the open method When the President is COM
PEELED by law to redeem greenbacks in gold. and
then authorized to issue bonds and buy gold for
that purpose, the Treasury will be placed at the
mercy of those financiers who have for some years
been seeking 10 drive the Government out of
the business OF issuing money, in order that they
miSht make a pront out oil the issue and control
OF the paper circulation.
The proposition 10 increase the privileges OF
national banks is a part Of the gold standard
plan review of monetary legislation for the
last twenty years shows that the advocates OF
the gold standard, instead of boldly proclaiming
and defending their scheme. have moved with
slow and stealthy tread, hiding behind pre-
tence and then another, and never taking the
people into their confidence. In the last cam
plign 20 per cent of the people voted for can
didates pledged TO the double standard against
the gold standard, and yet the Republican party
is endesvoriBg TO make the gold standard per-
manent.
In the last campaign neither the Republican
platform nor the Republican candidate limited at
the retirement Of the greenbacks. and yet green
backs are TO be retired by indirection. while the
national banks. in return for campaign coniri-
button. are TO be given authority to organize
a paper money trust.
Mr.. Bryan concludes his letter with a
criticism Of the Presidents stand on the
Philippine question, and also has something
TO say about trusts.