The Oskaloosa herald., 1900-08-30
Danger of Silver Repudia-
ton Greater Than
ALI Others.
Mayor, Heinz Of Davenport, Lead
ing German American,
Writes Strong Letter.
Shows How the Election of Bryan
Would Destroy the Ma
TONS Credit.

Davenport Ia, Aug. 9o.-The sound
money men Of this city, who took such
an important part in the great cam
paign of 1896, are fHlly 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 IS 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 a republican president and
a republican congress this year. Their
sentiments are voiced in a 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 a 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:
BryRn's Election Means Reputation.
Davenport, Ia, Aug. ITO the Editor OF
the Republican: In a 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 averted,
precipitated the disaster of 1899, the belief
that silver payments would be resorted to
as early as possible, would innict a still
greater calamity upon the country"
This, 1t seems to me is a fair statement
Of the case from the business standpoint.
would NuIlify 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?
Ex-ComptroIler of the currency. Hon.
j. II. Eckels, foreshadowed the inevitable
result when he said. in an interview recent
ly published in the Chicago Times-Herald:
IF 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
800 NhA 80 -
treasury department In such a manner as
to nullify as best they can its provisions in
so far as they bear upon the question of the
maintenance of the gold standard"
Suppose Mr.. Altgeld, of Illinois, was sec
rotary of the treasury under Bryan. and
Hon. Champ Clark, of Missouri, was at
torney general, who can doubt for a mo-
ment but that plenty of ways would be
found to nullify the provisions Of the pres
ent law?
One Way of Doing II.
Secretary Gage states that, in his opln-
ion, the authority given by law to use the
redeemed notes for ANY lawful purpose
except deficiencies" would give the sec
rotary of the treasury the power, in case
1t became apparent that silver would be-
come deprecated, to pay out notes re-
deemabIe in gold in exchange for silver.
and thus maintain the parity of the two
metals.
Would Mr.. Altgsld, as secretary of the
treasury, do this2
II is scarcely to be believed that ne would,
since II would be contrary to the policy
Of his leader to preserve the single gold
standar law intact, and it would be in
the interest of the move for free silver to
destroy the law rather than to protect It.
DANCES of Free Silver Congress.
There is another danger which confronts
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
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 trength In
the present senate is So votes. OF this
number Is go out of ONCE at the expiration
Of President McKinley's present term.
With Bryan successful, enough states
whose legislatures will elect senator's 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 a
majority OF the electoral college in Novem-
Der there will be a majority in both houses
of congress in support OF his free silver
theories.
Money Question Most Important.
This being the fact. II at once becomes
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 / 60 into the
platform as the price OF his acceptance OF
the nomination, and no sane man can doubt
his course If given the opportunity of the
occupancy of the presidential chair with a
ongress favorable to his visionary
schemes.
Duty of Sound Money Men,
For these reasons II seems to me that all
believers In sound money and honest cur
rency should realize that a crisis confronts
them which demands their united efforts In
opposition to fully as great an extent as
the situation in lS96-and above all other is-
sues the money issue Is the paramount is
sue, for In the event we should have free
coinage OF silver the results would be more
disastrous than all the other issues COM
bined In this campaign-multlplieS many,
many times,
FRED HEINZ,
president Of the Farmers and Mechanics
Bank, Davenport. Ia.