The Denison review. [volume] (Denison, Iowa) 1867-current, 1900-08-28
MONEY QUESTION IS FIRST
Danger of Silver Reputation
Greater Than All Others.
\ LETTER FROM MAYOR HEINZ.

''FSsl OP0tOt NSdyOt 0uOWS
How the Election of Bryan Would
Destroy the Nations Credit Read
What German American SAYS.
Davenport, Ia, Aug. 2O.-The sound
money men of this city, who took such
an important part in the great cam
paign of 1896, are fully aroused to the
Importance of the situation this year
as it affects the currency question, the
stability of all business relations and
the national honor. The German
Americans, also answering in their de-
votion to honesty of government as
well as in business, see in the threat
of free silver, made by Bryan and the
democratic national platform, a dam
ger to the welfare of the country as
great as that which was temporarily
removed by the election of Mckinley
in 1896. Therefore they are resolved to
leave nothing undone to secure the
election of republican president and,
a republican congress this year. Their
sentiments are voiced in letter by
Hon. Fred Heinz, mayor of Davenport,
just published. In this letter Mayor
Heinz points out the dangers that con-
front the business, interests of the
country and shows just how the cleo
ton of Bryan would affect the credit
of the country, even before he was in
augurated, and how he and his cabinet
would accomplish their avowed pur-
poses in spite of the gold standard law.
Mr.. Heinz also suggests study of the
actual situation in regard to congress,
and plainly tells sound money business
men that there is work for them to do
this year. His liter is as follows:
Bryan's Election Means RepudiatiOn.
Davenport, Ia, Aug. Ito the Editor of
the Republican: In recent article on THE
Menace of Free Silver Coinage" the New
York Journal of Commerce says:
"The very important interview with the
secretary of the treasury which we print
this morning, shows that long before Mr..
Bryan could become president. the moment
his election was ascertained, the public of
this country and of the whole world would
conclude that the United States has repu-
dated the single gold standard. If the fear
that silver payments could not be ayerted,
precipitated the disaster OF 1883, the beiief
that silver payments would be resorted to
as early as possible, would infiict a still
greater calamity upon the country"
This, 1t seems to me is a fair statement
of the case from the business standpoint.
Would Nullify Gold Standard.
Suppose Bryan was elected, and he should,
as he undoubtedly would, surround himself
with cabinet advisers in sympathy with his
free silver sentiments, what would follow?
EN-Comptroller of the currency, Hon.
j. H Eckels, foreshadowed the inevitable
result when he said, in an interview recent
| ly published in the Chicago Times Herald:
eff elected president, the public must be
prepared to see Mr.. Bryan as chief execu-
tive, and those associated with him as cab
met counselors. construe every law bearing
upon the currency and the powers of the
treasury department in such manner as
to nullify as best they can it's provisions in
SO far as they bear upon the question of the
| maintenance of the gold standard
Suppose Mr.. Altgeld, of Illinois, was sec
retary of the treasury under Bryan, and
Hon. Champ Clark, of Missouri, was at
| torney general, who can doubt for mo-
ment but that plenty of ways would be
found to nullify the provisions of the pres
ent law?
| One Way of Doing 1t.
4 Secretary Gage states that, in his opin-
| ion, the authority given by law to use the
redeemed notes for "any lawful purpose
except deficiencies would give the sec
retary of the treasury the power, in case
/ it became apparent that silver would be-
come depreciated, to pay out notes re-
| deemable in gold in exchange for silver
| and thus maintain the parity of the two
| metals.
Would Mr.. Altgeld, as secretary of the
treasury, do this?
1t is scarcely to be believed that he would,
since it would be contrary to the policy
/ of his leader to preserve the single gold
standard law intact and it would be in
the interest of the move for free silver to
tn nrp
4 Danger of Free Silver Congress.
| There is another danger which confronts
I the gold standard in the event of Bryan's
! election. and that is the probability that
both houses of congress would have free
silver majorities. Should the people of
4 the United States decide this fall to elect
Bryan he must almost of necessity carry
enough states to change the complexion
of the United States senate on the currency
question.
The absolute sound money strength in
the present senate is so votes. OF this
number is go out of office at the expiration
of President McKinleys present term.
With Bryan successful, enough states
whose legislatures will elect senators for
the term beginning in 1901 will have voted
for free silver to give the white metal
a majority in the senate. Anyone can de-
termine for himself this fact of silver SUI
premacy in the senate by a little investiga-
ton of the figures, but there is no reason
able doubt but that If Bryan carries q
majority of the, electoral college in Novem-
ber there will be majority in both houses
of congress in support of his free silver
theories.
} Money Question Most Important.
, This being the fact, it at once become:
apparent that the money question is still
<the paramount issue" despite the contrary
statements of the Kansas City platform
and the Bryanite orators.
Bryan insisted that 16 to l go into the
platform as the price of his acceptance o.
the nomination. and no sane man can doub
his course If given the opportunity of tn,
occupancy of the presidential chair with {
congress favorable to his visionar,
schemes.
Duty of Sound Money Men.
For these reasons it seems to me that al
believers in sound money and honest cur
rency should realize that a crisis confront
them which demands their united efforts ii
opposition to fully as great an extent al
the situation in 1S96-and above all other is
sues the money issue is the paramount is
sue, for In the event we should have fre
> coinage of silver the results would be NOR
disastrous than all the other issues com