Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-09-04

washington sept. 0.--ttOns Carl
Schurz has written the following open
letter to Hon. Lyman Gage, Secre-
tary OF the United States Treasury:
THE LETTER.
Dear Sir: The newspapers of Au-
gust 26 published an interview with
you in which you were quoted as say
ing that there is no doubt Mr.. Bryan
Qf elected PresidenO could order his
Secretary of the Treasury to make
payment In silver of all the public debt
payable in coin. and for all current
disbursements of the Government as
well, Which amount to 1900 600 to ST.
10000 per day; and that he would give
such an order. too, is very certain, if
ne is In the same mind that he was in
1886" You went on to say that al
tInn o MI. Bryan would have great
oifi1culty in doing that at once" owing
TO the smaller silver resources of the
government, yet he might accomplish
1t in time, as the mere announcement
OF such purpose would stop the in
flow of gold or at least very largely
diminish payments in gold and CORE
spondingly increase payments into the
treasury OF silver and silver certifi-
Gates; that this would practically put
the government on silver basis, ruin
aster upon the business interests OF the
country.
Having for great many years taken
deep and somewhat active interest
IN the establishment of Il sound none
tary system in the United States I
may without improperly publicly adj
oress TO you a few remarks in reply
TO your public statement. 1 emphat-
really deny, Mr.. Secretary, that the
danger set forth by you in your in
. i1t
President will be able to do what you
say might be done, unless the Republi-
can party in control of the government
IN both Its legislative and executive
branches. proves itself utterly dishon-
est In its protested purpose to main
tain the gold standard
Ihis denial is not based upon the
reasoning of those Of your critics who
seek 10 show by figures that Presi-
Gent desiring ever so much to put the
country upon silver basis, would lack
the means for doing SO. On the con-
trary, for arguments sake. 1 will ac-
cept all you say on that point. But
you omit to mention a fact of decisive
Importance.
II the Executive. as you say, pos
sesses the discretion of paying silver
IN settlement of all interest ON the
PUBLIC debt not specifically payable in
gold, and of making its daily disburse-
ments to Its creditors i'm silver" IL js
passed at the last session of Congress-
q law which, as the spokesman of the
republican party promised. was to put
the gold standard upon an impregnable
basis. 1t was suggested at the time by
some of It's critics that this law was
purposely so manipulated by Republi-
can politicians in the Senate rs to
leave the possibility of the subversion
of the gold standard by executive ac-
ton open in order to enable the Re-
publicans In the present Presidential
campaign to say that the election of
republican President was absolute
ly necessary to save the gold standard
and to prevent dreadful economic dis 4
aster Whether any such scheme en-
tered into that legislation. l do not as
sumo to determine. Certain 1t is, how
ever. that this feature of the law Is
now so used. and that you, Mr. Sec
rotary, actually do so use it for tho
evident purpose of alarming the bust
ness community and the possessing
classes generally.
- hardly need to say to you that the
spreading of false alarms of this kind
is very questionable and RESPONSE
Die thing for anybody, and especially
Tor Secretary of the Treasury. And
call your prediction of the possibili-
ties specified by you and of the dis
asters sure to follow false alarm for
a very simple reason. Whoever may
u.
there VIII be another session of Con-
gress before he will take Office on
march a. 1901. The Republicans will
nave strong majorities in both houses
OF that Congress. The Executive, too.
VIII 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 be-
iore the inauguration of the next Pres
1dent to break down the gold standard
IN the way you, Mr.. Secretary. describe
IN your interview. A simple enactment
In two or three lines substantially pro-
Viding that it shall be the duty of the
& Secretary of the Treasury to pay in
gold or silver, at the option of the
creditor, all kinds OF Indebtedness of
the United States now payable in
coin. may be sufficient. And If there
Should be another flaw in the present
law dangerous to the gold standard
IN any other way, you, Mr. Secretary,
able hnancter as you are, will surely
detect It, and find a legislative remedy
ana nave 1t ready in the shape of
well-matured bill to be submitted to
Congress at the opening of the ses-
sion. In short the Republicans, con-
ironing both the Legislative and the
s executive branches of the Government
VIII next winter. have ample power
ana opportunity to do what they ought
n 10 nave done at the last session-to
put the Currency Law in such a shane
that the gold standard cannot posi-
4 piy pc shaken by executive action. no
matter who may occupy the Presiden-
ttal chair--and thus remove, to that
extent at least. the basis of our none
tery system from the changeful game
of party politics.
DO you see any reason for doubling
that Gongress at its next session will
& do this? 1t Is quite evident that. if
there 1s any substance at all in your
predictions OF disaster, the Repubii-
z CANE In Congress cannot refuse to do