Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1900-09-06
Former Replies to the Latter's
Alarinisr Speech.
HOW TO INSURE GOLD STANDARD
Clearly Within the Power of the
Congress. &.


ties In the event Of Mr.. Bryap's cleo
tinn next November, as Mr.. Gage as
serted in recent interview, 1t iB In
the power of Congress and the Presi-
dent to effectually block the game by
passing law simply providing that
It shall be the duty OF the Secretary Of
the Treasury to pay In gold or silver,
ut tho option of the creditor, all kinds
of Indebtedness of the United States
now payable in ooin.'
MIR. Schurz's letter In full is as fol-
lows: It .f& K
Dear Sir: The newspapers OF August
26th published an interview with you
10 which you were quoted rs saying
that there is no doubt Mr.. Bryan III
elected Presidency could order his Sec
Rotary of the Treasury to make nay
ment in silver of oil the public debt
payable in coin, and for all current
disbursements Of the government as
we'll, which amount to 81, 500, 600 to
81, 100, 600 per day; and that he would
give such an order, too, is very certain.
il he is in the same mind that be was
| in 1886. " You went on to say that
although Mr.. Bryan would have great
| difficulty In doing that at cnce." owing
to the small silver resources of the q Az
eminent, yet he might accomplish IL ia
time, as the mere announcement of
such purpose would stop tho inflow
of gold or at least very largely diminish
payments In gold and CORRESPONDENCE
increase payments into the Treasury of
silver and silver COR tificates - that this
would practically put the government
On silver basis, ruin its credit aud
bring incalculable disaster upon the
business interests of the country.
Having for q great many years taken
a deep and somewhat active interest in
the establishment Of sound monetary
system in the United States, ! may
without impropriety publicly address
to you a few remarks in reply to your
public statement. / einphntically
deny. MI. Secretary, that the dangers
set forth by you In your interviews
really exists ard that any President
| will be able to do what you say might
be doue, unless the Republican party
10 control Of the government in both its
legislative and executive branches prove
itself utterly dishonest 10 its profassed
purpose to maintain the gold standard.
This denial Is not based upon the
reasoning of those of your critics who
seek to show by figures that Presi.
dent desiring ever SO much to put tie
| country upon a silver basis, would lack
the means for doing SO. On the con-
trary, for arguments sake. ! will ac.
cspt all you shy on that point. But you
omit to mention a, fact Of decisive i'm.
| portance. r III
If the Executive, rs you say, posses
Sos the discretion of paying silver in
settlement Of all interest on the publio
debt not specifically payable in gold,
and of making its daily disbursements
to its creditors In silver, " it is owing to
a flaw in the currency law passed at tho
last session OF Congress "a law which,
as the spokesman of the Republican
party promised, was to put the gold
standard upon an impregnable basis
II was suggested at the time BY some
of it's critics that this law was pur-
posely so manipulated by Republican
politicians in the Senate as to leave
the possibility of the subverson Of the
gold standard by Executive action
open In order to enable the Republj.
cans In the present Presidential cam
| paign to say that the election Of a Re-
publican President was absolutely
necessary to save the gold standard and
to prevent dreadful economic disaster,
Whether any such scheme entered into
that legislation do not assume to de.
termine. Certain it is, however, that
this feature OF the law is now SO used,
and that you, Mr.. Secretary, actually do
SO use it for the evident purpose of
alarming the business community and
the possessing Glasses generally.
| hardly need to say to you that the
spreading of false alarms of this kind
is very questionable and responsible
thing for anybody. and especially for q
Secretary OF the Treasury. And | call
your prediction of the possibilities
specified by you and of the disasters
sure to follow false alarm for very
simple reason. Whoever may be elected
President on November 9th, there will
DO another session of Congress before
he will take Office on March 4th, 1901.
The Republicans will have strong
majorities in both houses of that Cen.
gress. The Executive, loo, will be In
their hands. They will, therefore, be
able to make such laws as they please.
They will thus have full power and
ample opportunity before the inaugural
zion of the next President to pass any
legislation required to make it utterly
impossible to any President TO break
down the gold standard In the way
you,. Mr.. Secretary, describe in your in.
terview.
| A simple enactment in two or three
lines substantially providing that IL
shall be the duty Of the Secretary Of
the Treasury TO pay 10 gold or silver.
at the option of the creditor, all kinds
of Indebtedness Of the United States
now payable 10 coin, may BIZ sufilcient.
And il there should be another flaw In
the present law dangerous to the gold
standard in any other way, you, MI.
Secretary, able finapcier MS you ara.
will surely detect it and find q legisla-
tive remedy and have ii ready 10 the
shape Of vel lmatured bill to be sub
mitted to Congress Mt the opening OF
the session. In short, the Republicans
controlling both the legislative and the
executive branches Of the government,
VIII, next winter, have ample power
and Opportunity to do what they ought
70 have done at the last session-to nut
the Currency law in such shape that
tne GOLD standard cannot possibly be
shaken by executive action, no matter
who may occupy the Presidential chair
| and thus remove, to that extent at
least, the basis OF our monetary system
| tics. P'
DO you see any reason for doubling
that Congress at its next session will
90 thisY IL is quite evident that, ii
mere Is any substance at all in your
predictions Of disaster, the Republicans
In Congress cannot refuse to do ii with
out proving tnat the professed soIioi.
tude OF the Republican party far tha
maintenance of the gold standard IL
airant hypocrisy. But if there be- any
wagering | am convinced rublic opinion
| will. In naan Of nansssiAu oa.,., 4 ~ -