The Elbert County tribune., 1900-03-15
"House Of Representatives.
washington, Feb. 23, 1900.

orado Springs, Colo:
my Dear Sir--Your kind favor Mt
hand and noted. You ask for my opin-
ions on silver, and whether II can
again become a political issue shall
state my opinions frankly. and they
VIII necessarily be Mt length. for those
who honestly battled for cause that
consider sacred are entitled to de-
mand why my views have changed.
when in the Fifty-third Congress,
my holdings IN silver could have been
bought for n dollar. Within the last
three years my Investments in silver
aggregate over $4,000. and with free
coinage Mt 10 to /. would not take
100000 for my investment At pres
ent prices its value is problemntical-
The above Is mentioned TO show that,
however mistaken ! may be at the
present tuncturc. every selfish consid-
Grafton would prompt me to an oppo-
site declaration aud course upon the
silver issue.
"The fight for bimctallisin should
have been won In 1896 but for the
presence at Chicago OF great numbers
of people, all OF the same mind, and so
sure of success that they determined
not alone TO settle the money question
but to abolish or regulate every other
evil, imaginary or real. that Is Incident
to the body polite. We were appeal
ing not alone to the intelligent public
opinion. regardless OF party. which was
united upon the money question. but
we determined to cater TO every disor'
ganizing force OF human society. and
the result was the Introduction of new
issues which could not command the
conservative people Of the nation In
their support. You were aware of my
position at Chicago, and | think we
consulted upon It. viz: that the party
should reafiirm the immortal principles
of the forefathers OF Democracy, and
then write the following plank upon
the money question:
"'rhe Democratic party pledges the
American people to promote by every
honorable means an International
agreement looking to the restoration
OF bimetallisn. believing that other ma
tions will share with us In the bless
ings flowing thercfrom. Failing TO
elicit the cooperation Of other nations,
we pledge ourselves to the restoration
of the money of the constitution
my judgement is that that plank
would have given successful issue
to the campaign. Hundreds of thou
sands of men who would have been
honestly doubted IL we. unalded and
alone, could maintain the parity at 10
TO /, and thought that, Mt least. as n
preliminary, we should secure such aid
as was possible by an agreement with
other nations, who, like ourselves,
were anxious to see silver again
clothed with the money function. We
were stampeded. md flew off on tan
gent. The truest friend OF blmetallism,
as events have proved, the man with
the clenrcst vision, and the wisest
counsellor on this topic, has been hoot-
ed and jeercd mt for holding opinions
upon this subject contrary to the opin-
ions formulated by the Democratic
party. II any one man could have
saved the cnuse of blmetallism, that
man is Senator Wolcott. Events have
demonstrated the correctness of his ex-
pressed views. Since 1896 every ma
ton except, China and Mexico, have
adopted the gold standard. and now It
may be matter of doubt to any think
er whether the United States alone
could maintain the parity at that ra-
tio. The honest effort made by the
Monetary Commission, consisting of
Messrs. Wolcott, Stevenson and Paine.
to promote an international agreement.
was discredited In advance by Demo
Gratis who should have earnestly hoped
for and helped to success.
To-day conditions have changed,
and the marvellous Increase In the pro-
duct of gold, which left, after the re
qulrement of the arts, more gold for
coinage than has ever been coined of
DOIn gun anu Ill uh1 OnC tfti
since the world began, has relieved the
financial strain. and as consequence
| of that increase In money of ultimate
redemption, the price level of products
has risen, not In the United States
| alone, but the wide world round. The
best information obtainablc from the
Rand Reef Indicates that from that
source alone the worlds stock of gold
eau be doubled in the next ten years.
well-informed men tell me that your
own state OF Colorado will produce
this year from $io.000,000 to $6o,oo0,-
| 900. The Klondke and Cape Nome
are possibly good for as much more.
and while the Boer war will probab-
| ly shut of something like $100,000.00
| of production this year. the total from
other sources Will bring the production
equal TO or above the S30T, 100000 of
last year. That the gold production
within the next five years will reach
$5o0.00O.000 or $6o0,000,O00 annually
seems an assured certainty. The Rand
Reef alone Is capable OF giving the
major portion. The American pro-
ducer In to-day out of the financial
slough where he was dragged by John
Sherman In 1873. Stability and rise
of prices of all property measured by
money will follow the worlds in-
crease Of money. This ability to pur
chase VIII be world wide Colorado
has Il proud place within her reach
within the next few years. Her coal,