The sun., 1900-10-24
IF BRYAN WINS, WHAT THEN?
The Country Will De on a Silver
Basis at Once, With RuinOus Con-
seuuences,

appear that Bryan has been elected
or there Shall be reasonable ground for
belief even that he may be elected,
and it shall be announced that the for
eisners are getting out from under, by
sale of their American held securities
OIL the New York Stock Exchange, me-
ccssitating the export of gold to pay
for them, or there shall be sharp up
ward start of run by the presenta-
tion of notes for redemption to the
treasury by our own people, long lines
of clerks Of the banks, financial insti-
tutions and financiers, lengthening out
through the night, will besiege the
doors OF the subtreasury, on Wall
street, and before noon demands will
be made on our government to more
than empty from the public treasury
our governments entire stock of gold
down to its last dollar By this move
ment from the few eastern seaboard
cities alone--New York, Boston, Phila-
delphia and Baltimore-before the
shadows of nightfall every dollar of
our governments gold will be de-
manded.
What will the banks do with the
gold that they thus acquire? Will they
pay it out in the redemption of their
own notes? No indeed! They will
hold on to it, not as money, but as
property - as a convertible asset
which they can always realize upon at
any moment for all that it is worth.
Every individual holder of gold
throughout the country in any amount
down to single dollar will do the
same thing. holding on to it to the day
Of his sorest extremity, when lie Will
convert it nj Il value vastly in excess
of any needed commodity. for which
he may be compelled by his wants to
exchange il, and IT viii pass into stron-
ger hands better able to hold on to it.
Thus. in a single day. all of Our boast
ed stock of SJO0,000,000 of gold will be
completely retired from circulation as
money.
Taken Completely on Our Feet.
What will become of our remaining
twelve hundred millions of circulating
medium of various kinds? The notes
Of our national banks are required by
law to be redeemed in government
legal tender notes. But of what value
| to the holder will be the exchange of Q
national bank note for a government
/ note when the treasury Is entirely
emptied of its gold and the govern
ment no longer has the power to MAKE
IT'S own notes good to the holder o.
them? The government will be take1
completely off its feet. 1t will not b,
able to sell it's bonds, at present in
terest rates, at 60 cents to the dollar
Nor would it be of any avail If il could
for the gold would be taken out of th
treasury faster than it could be put II
by renewed presentation of govern
ment notes for redemption, of which
considerable amount would still be out
standing. All the notes, both natona
bank and government, will imme
diately cease TO have negotiable val
ue, except a very trihing and also va
riablc one spcculatively, and the pei
formance of their functions as none
] will at once ana entirely cease.
! We shall have still left Our six hur
drcd millions of outstanding silver ccl
tiicates, silver dollars and fractioni
coin our government, being no longc
able to redeem in gold Will offer To =,
dccm Its silver certificates in silyc
. and, 70 keep good this offer, will /
! compelled 10 hold on to its stock {
: coined dollars and silver bullion no.
: iii Tie treasury. At Il cents 10 tie dG
lar, the present market value " Il
amount Of SilyCr contained ID Il silyt
dollar Our sN hHnlrcd millions {
', money, then available for currency pu
9 poses, will have II money value, ;
: compared with our present cuwenc
i of less than $3Uo,UO0,OUO We shall
y on silver basis at once, withol
e awaiting the installation of Bryan
the presidential chair and the mov
! ment of Bryan legislation to this e
feet. Our country, from having tive
L ty-one hundred millions of currency
n do business with one day, will ha'
, but three hundred millions the ne
day.
Calamitous Consequences.
Nnat consequences VIII IOHOW!
taxes will be paid because there will
-, no money to pay with, How COVER
N ment-national, state and municipal
II. will be carried on under such cont
q tions the writer will leave to others
:. guess. Nearly every life insurance p
Is icy will be legally terminated by [
"' fault of the payment of premium
- thereon, and the business Of life inst
p" ance will be suspended for an indie
mite period of time. Every nalior
bank, every state bank, every trl
Il. company, every savings bank, eve
en- building association, every loan asso
,G alton, every investment company n
" every fire Insurance company will
w under. Rents viii 10 no longer pa
le but the landlord will not eject the |,
ant only because lie will not turn +
Jones. whom he knows and who c;
not pay. 10 put in Smith, whom he d'
of not know and who also cannot ~
NY DO you wish, reader, to be buried n
sr TO have Your country and the wo
y" buried under such III avalanche of
W., struction? DO You wish even this g
traction cf business and labor distn