The citizen. (Frederick City, Md.) 1895-1923, 1900-09-07
GAGE AN ALARMIST, SAYS
CARL SEIZURE.

some weeks ago, before the active
campaign work began, and We think
it was before Bryan was made the
nominee of his party for the Presi-
dency, Secretary of the Treasury,
Gage, in an interview, gave as his
opinion that the gold standard law, as
passed 10y the recent Congress, stood
as stumbling block between Bryan,
and financial disruption and panic
from the possible carrying out of any
silver theories. This practically set
ties the cioakings of the alarmists on
the Republican side, who were anxious
to have the silver issue to combat the
imperialistic argument of their oppo-
uents, as we'll as those Democrats who
were also shaky on the matter of sill
yer.
Now comes startling change. like
lightning out of clear sky. Under
pressure Secretary Gage has eaten his
former words, and like Mckinley
changed his mind over night" By
some form Of reasoning and recent dis
coveries in the gold law, which we
suppose he overlooked or did not OBJ
serve when he made his first declar
alton, he has opined that Mr.. Bryan
can b. a very dangerous man and
'like bull in a china shop" play
havoc with the tiuanrial status of the
country if he is elected President.
A mau occupying the position of Sec
rotary of the Treasury is usually given
credit for consistency before the fact,
and when he proves the contrary to be
true, he must expect to have his TWO
sided views held up to public ridicule,
especially when the partisan motives
is know.
In order to prove the utter Worthless
ness of the cry Of alarm given out by
Mr. Gage and what safeguards are
thrown about the stability of our cur
rency, admitting for the sake of the
argument, that what Mr. Bryan might
do, would be a calamity, we publish
below letter fom Carl Schurz, the
great economist, to Mr. Gage on his
recent interview, which sends it back
to him for answer:
"Dedr Sir: The newspapers of Au-
gust 20 published an interview with
you in which you were quoted as saw
ing that there j. no doubt Mr.. Bryan,
if elected President, could order his
Secretary of the Treasury t. make
pay ment in silver of al the. public
debt payable in coin, and fir all cur
rent disbursements Of the government
as well, which amount to 1900, 600
to u, I5O,OO per day; and that he
would give such an order, to-, is very
certain, if he is in the same mind that
he was III 1885, You went on to say
that, although Mr.. Bryan would have
great difficulty in doing that at once
owing TO the small silver resources of
the COVE nnent, yet, he might accom-
plisn 1t IN time, as the mere announce
ment of such purpose would stop
the inflow of gold, or at least very
largely diminish payments in gold and
correspondiugly increase pay ments
into the Treasury Of silver and silver
certificates that this would practically
put the government on silver ais,
ruin its credit and bring incalcuaUe
disaster upon the business interests If
the country
Having for great many yeas
taken deep bud somewhat active in
terest in the establishment of sound
monetary system in the u lifted states,
may without improperly publicly
address to Sou few remarks IN reply
to your pubic statement | emphal-
icaIly deny, Mr. Secretary, that the
danger set forth by you in your inter-
views really exists, and that auy Presi-
dent will be able to do what y,u say
might tie done, unless the Republican
party iii control of the government in
both its legis alive and executive
branches, prove itself utterly dishonest
In its protested purpose to maintain
the gold standard.
"This denial is not based upon the
reasoning of those of your critics who
seek to show 10y figures that Presi-
dent desiring ever so much to put the
country upon a silver bas :, would
lack the means of doing so. On the
contrary, for Arguments sake, l will
accept all you say on that point But
you omit to mention fact of decisive
importance.
IF the Executive. as you say. pos.
sesses the discretion of paying silver
in settlement of all intere.t on the
public debt not specifically payable in
gold, and of making its daily dis
bur-ements to its creditors in silver it
is owing to a flaw in the currency law
passed at the last session of Congress
law. which, a the sp kesman of the
republican party promised, was to
put the gold standard upon an inn
pregnable basis. 1t was suggested at
the time by some Of its critics that this
law was purposely 80 manipulated by
Republican POLITICIANS in the Senate as
to leave the possibility of the subver-
sion of the gold standard by Executive
action open in order to euahle the
Republicans in the present Presiden-
tial campaign to say that the election
OF Republican President was abso-
solutely necessary to save the gold
standard aud to prevent dreadful eco
nomic disasters. Whether any such
scheme entered into that legislation /
do not assume to determine. Certain
il Il, however that this feature of the
law Is now 20 used, and that you, Mr..
Secretary, actually do 50 use il for the
evident purpose Of alarming the bust
ness community and the possessing
al. q