Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1900-09-05

dependent Republican who is support
ing Mr.. Bryan this year because he
stands for an American policy and is
opposed to imperialism, has written
an open letter in reply TO Secretary
Gage, who has been trying to alarm
the business interests by throwing a
financial scare into the campaign. Mr..
Schurzs letter will be read with inter
est by business men. 1t follows:
Dear Sir: The newspapers of Aug.
20, published an interview with you
in which you are quoted as saying
that there is no doubt Mr. Bryan Qf
elected PresidenD could order his sec
retary of the Treasury to make pay
ment in silver of all the public debt
payable in coin, and for all current dis
bursements of the government, as
well, which amount to $1,500,000 to
81, 100000 per day; and that he would
give such an order, too, Is very certain,
if he is In the same mind that he was
in 1896" You went on to say that al.
though Mr.. Bryan would have great
difficulty in doing that at once" owing
to the small 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 OF at least very largely
diminish payments in gold and CORE
spondingly increase payments into the
treasury of silver and silver certifi-
cates;" that this would practically put
the government on silver basis, ruin
its credit, and bring incalculable dis
aster upon the business interests of the
country.
Having for great many years taken
deep and somewhat active interest
in the establishment of sound mon
etary system in the United States,
may without improperly publicly ad-
dress to you few remarks in reply to
your public statement. l emphatical-
ly deny, Mr.. Secretary, that the dan
ger set forth by you in your inter
views really exists, and that any Pres
ident will be able to do what you say
might be done, unless the Republican
party in control of the government In
both it's legislative and executive
branches, prove itself utterly dishon-
est in its professed purpose to main
tain the gold standard.
This denial Is not based upon the
reasoning of those Of your critics who
seek to show by figures that President
desiring ever so much to put the coun-
try upon silver basis, would lack
the means for doing so. On the con
trary, for arguments sake, l will ac-
cept all you say on that point. But
you omit to mention fact of decisive
importance.
II the executive, as you say, processes
the discretion of paying silver in set
tlement of all interest on the public
debt not specifically payable in gold,
and of making it's daily disbursements
to its creditors in silver" 1t is owing
to flaw in the currency law passed
at the last session of Congress-a law
which, as the spokesman of the Re.
publican party promised, was to put
the gold standard upon an impregna.
BILE basis. It was suggested at the
time by some of its critics that this
law was purposely SO manipulated by
Republican politicians in the Senate
as to leave the possibility of the sub
version of the gold standard by ex-
ecutive action open in order to enable
the Republicans in the present Pres
idential campaign to say that the cleo:
ton of Republican President was
absolutely necessary to save the gold
standard and to prevent dreadful eco
nomic disaster. Whether any such
scheme entered into that legislation, !
do not assume to determine. Certain
| it is, however, that this feature of
the law is now so used, and that you,