CanÌƒon City record. [volume] (CanÌƒon City, Colo.) 1883-192?, 1900-10-18


yer, but also by demanding that paper
money should be redeemable In coin.
AT the first opportunity thereafter for
practical exposition OF Its views, the
Democratic minority in Congress. when
provision was being made for the ex-
penses OF the Spanish war. favored the
dilution of our currency by the issue
OF 100 million dollars OF government
paper. with no provision for coin re-
serve TO support such issue. In the ma
tlonal platform OF 1900. the Democratic
party demands the retirement OF ma
tional bank notes (Which are not legal
tender and are by law redeemable In
/ lawful money!. .as fast as the govern
ment paper and silver certificates can
be substituted for them Nothing Is
said about coin redemption OF such
government paper" Mr.. Bryan. in his
I speech at Topeka accepting the Popu-
list nomination for the presidency, said:
1T is true that the Populists believe in
an irredeemable grecnback, while the
I Democrats believe In n grcenback re-
deemable in coin" But the latest con-
gressionai votes. and the national plat
form OF the Democratic party. show an
acceptance 10y that party OF the Popu-
/ lists views on money. and. in any
event, we find Mr. Bryan taking the
d
very moment that he boldly states the
/ belief of that party In nn irredeemnble
/ greenback-
/ The fundamental idea OF bimetallism
rests ON the use of the two metals as
/ the standard money Of the country
The true interests OF silver producers
/ require an increased demand for silver.
! for monetary uses Nothing can be
more hostile TO those Interests than the
I Populist doctrine that favors an ire
deemabie paper money.
Z Whatever may be the real Democrat
I ic view as TO the use OF paper money
| and OF Its rcdeemahllity. the potential
iaw-making force in the Democratic
party, In the event OF Its success. Is
I opposed to the free coinage of silver.
II Is fact familiar TO all that the com
mitfee on resolutions mt the recent
/ Kansas City convention was made up
Of one representative from each state
and territory: and in that committee
the vote Of Hawaii was as potential ns
I that OF the state OF New York. The
/ resolution In favor OF free coinage was
carried by a reported majority OF two.
and the votes of the several territories
We're east In the affirmative. But neith-
er Hawaii. Arizona. Alaska. nor any
other territory has any voice In the
Z making OF laws: while the state OF New
York alone casts "A votes In the lower
house Of Congress. An analysis of the
vote in the committee on resolutions
shows that those states whose repre-
seniativcs voted against the free silver
plank control 323 votes in the two
houses OF Congress: while those whose
trprrr-rnr-rfvcs vctr-s- IN frvor OF free
silver control only i2I votes in the law
making body. Such eminent Democrats
as David Is. Hin. Richard Croker.
Bourke Cochran and Richard Oiney.
and hosts Of others. are ayowed oppo-
nenfs OF free coinnge: and they sup
port Mr.. Bryan only because they think
he VIII he powerless to do harm. under
existing laws protecting the gold staud-
ard. Mr.. Carl Schurz contends that N
Republican legislation has not already
erected an impossible barrier against
dangerous action by Mr.. Bryan. it can
yet make tina, barrier insuperabie and
1 imprcEnable before the lth of next
March. and that MIR. Bryan need not
/ bc feared. for the simple reason that he
| will he powerlcss. In this line OF argu-
ment the Colombo advocate Of the free
/ coinage of silver can find little hope
/ OF its accomplishment through Demo
cratic success at the polls.
/ But IL is said that without congress
/ sional action Mr.. Bryan. as the eSecu-
\ tive. could. under existing laws, reverse
! the policy OF his predecessors, Demo
cratic and Republican. and could pay
! the intcres, on n large part of the ma
| tionnl debt, and n portion Of the pTin-
I cipnl, in silver and could also pay in
silver the current expenses OF the gov
! ernment. He could lawfully do this
1 only SO long as the parity between sill
yer and gold money was unaffected. II
the process resulted In the breaking of
that parity. the existing law and his
sworn duty OF obedience TO il would
| compel the exercise of his option in
such manner as to restore and main
tain that parity. II he should ignore
this requirement TO maintain the parity
OF our different forms OF money, still.
what effect has this action upon birnet-
allism or the free coinage of silver 2
Without affirmative legislation the
president cannot open the mints to sill
yer, nor can he Increase the purchase
or coinage OF silver. The argument
means only that he would have the
power OF disturbance. without the pow
or OF amelioration. He could tear
down. hut he could not build up. He
could create CONSERVATION and panic In
| business ccntcrs. but he could not In
crease the quantity OF money or ad-
vance one whit the opening of the
mints TO silver, This is not an argu-
ment that appeals 10 sober bimetailists.
| Some Of us who believe In the great
valrc and Importance OF general hi
meiallism. thought that. under the con.
ditions existing In 1896, that result
could best he attained through indie
pendent action by the United States,
| and by the Immediate opening OF our
mints to the free coinage of both silver
and gold. at the established ratio of 10
to l. Even IL there was some uncer-
tninty as TO the effect OF such policy.
yet the pressure of the times seemed to
Justify the experiment. The effort
failed. In the meanwhile the times
clnuypt 'rhp iastr.,d r.s,,lts hu.-.,