The Republican. [volume] (Oakland, Md.) 1877-current, 1900-11-01

stead of rising, must in the near future
fall, even though paid for in depreci-
ated dollars, because of the many who
want employment, and must take it
at any price to save themselves and
their families from starving.
With no wages the unemployed
laborers could buy neither food nor
clothing, and the diminished demand
would cause the prices of grain, cot
ton and all farm products to fall, as is
always the case even in small panics;
and such want, suffering and misery
would be entailed upon the laboring
classes as we never have known be-
fore.
OF course all mortgages past due or
in default would be Immediately
called in and if not paid foreclosed
and the mortgagors largely wiped out.
But il is to be noted that even if
the silver dollar did not depreciate
we would not escape the panic, as the
creditor class alike believed it would,
and they consequently would call in
debts and force sales just the same.
This panic, as we have seen, Mr..
Bryan fully admits will take place.
Therefore it is conceded that the con-
sequences of that panic will follow
his election.
HOW WOULD IT WORK WITH FARMERS!
If farmer hoped 10 profit by 81
cent dollar to pay off his mortgage at
about half its face, how would it work!
On the 7th of Nov. there will be no
more silver dollars in circulation than
if Mckinley was elected, nor would
there be on the 5th of March next,
since no more could be coined or is
sued until after free silver coinage
law had been passed.
With probably majority in the
Senate in favor of sound money, even
if Bryan is elected, and with their
terms not expiring until 1903, Dec. 1,
1908, is the earliest date at which a
free silver Senate could meet.
Such law could not, of course, be
passed without the most desperate
fight by it's opponents, and, as the
fight against the Wilson bill lasted all
summer, is not likely to become a law
before April of 1904, and unless the
House of Representatives of 1903 are
also in favor of free silver, as well as
the Senate, it could not be passed at
al, ,as the panic and crash would every
day strengthen its opponents, and
probably add to their numbers, too,
both in the House and even in the
Senate, by reason of silver politicians
seeing the error of their w%ys under
the pressure exerted by their home
constituents Gust as we saw a major
ity of twenty of the Senate opposed
to the repeal of the Sherman silver
law in March of 1898, changed by
August of that year, under a much
less severe panic, to majority in
favor of repeaD so that there is not
only possibility, but even a proba-
bility, that with free silver majority
in the Senate in 1908, the 1902 cleo
tions to the House of Representatives
held in the midst of the panic, may
have rendered the House itself in
favor of sound money, and thus the
panic itself might defeat the passage
of bill altogether, and in that case
the farmer and the country would be
left floundering in the panic and fail
to reap the hoped for profit.
And if the Senate were Immediately
for free silver, on Bryan's election,
and an extra session were called, the
I law could not be passed till Septem-
ber, 1901.
Then to coin S20,OOO,OOO silver dol
lars to replace that number of gold
dollars driven out of circulation would
require, at the present speed, over s
years. If the printing press was re-
sorted to, as the Populists suggest, it
would require, at the present rate for
treasury notes, on the special paper
therefor, of $1,250,000 day, over a
year, which would put relief off till
1905 (or September, 1902, as the case
might be- or either four years and a.
half (or about two years. after Mr..
Bryan's election.
Now as the gold has been driven