The weekly intelligencer., 1900-09-15
Gage Scored By Carl scur1.

Gage Scored By Carl seurz.
Carl schurz, the great publIcIst, has
given out an open letter to Lyman J.
Gage, secretary Of the treasury, in
which he calls upon the latter to re-
tract his interview Of Aug. 26, MIR.
Gage, in his statement, seeks 10 alarm |
business interests by suggesting that
William Jennings Bryan, II elected,
could direct his secretary Of the treas
ury to pay of in silver all government
obligations payable IN "coin.n Mr.. |
Schurz charges Secretary Gage with
having given ont his interview for q
political purpose under cloak Of pro-
tecting creditors OF the government.
Mr.. Schurz points out Il was the avow-
ed intention Of the last congress TO
adopt a currency measure which would
put the country upon an Impregnable
gold basis, and that IL 9 loophole
were left 10 the adopted bill which en-
powered The executive 10 redeem with
silver government obligations made
payable 10 coin 1t doubtless was for the
purpose Of furnishing the republican
party au opportunity TO play on silver
for the purpose Of obscuring olher
issues. MIR. Schurz scores Secretary
Gage for spreading Of false alarms OF
this kind. Finally Mr.. Schurz informs
the secretary OF the treasury that il the
danger the latter indicates really ex-
isas 1T sill is 10 the power ot the I
present congress, which is overwhelm-
ingly republican, TO amend the currency
laws, 50 as to make 1t impossible for
the executive To discriminate between
the two metals in the redemption OF
government obligations. Mr.. Sehurz
throws down The gauntlet to bis open
correspondence and courts defense OF
Secretary Cages position.
Mr. Schurz' letter is as follows:
Dear SIR: The newspaper Of Aug.
26 published an interview with you In
which you were quoted as saying that
'there is no doubt Mr.. Bryan Gi elect
ed presdeuD could order hi, secretary
Of the treasury to make payment in
silver Of all the public debt payable in
coin, and for all curreHt disbursements
Of the government as well, which |
amount to 81 800, 900 to sl,76O, 900 |
per day, and that he would give such |
an order, too, Is very certain, II be Is
in the same mind that he was In 1896. |
You went on 10 say that although Mr..
Bryan would have great difficulty In
doing that at once owing to the small |
silver resources Of the government, yet
he might accomplish Il In time, as the
mere announcement Of such q purpose
would stop the inflow Of gold or at
least very largely diminish payments
in gold and corespondingly increase
payments into the treasury oisIlyer and
silver certificates; that this would
practically put the government on q
silver basis, ruin It's credit and bring |
incalculable disaster upon the business
interests Of the country.
DENIAL MADE BY Mr.. scHURz.
"Having for q great many years
taken deep and somewhat active In.
terest 10 the establishment Of sound
monetary system 10 the United States,
! may without impropriety publicly ad-
dress to you few remarks inTeply 10 |
your public statement. Iemphatlcally |
deny, Mr.. Secretary, that the danger
SET forth by you in your interviews
really exists, and that any president
will be able to do what you say might
be done unless the republican party IN
control Of the government 10 both lis
legislative and executive branches
prove Itself utterly dishonest 10 its pro-
fessed purpose To MAINTAIN the gold
standard.
"This denial Is not based upon the
reasoning Of those Of your critics who
seek 10 show BY figures that a presi-
dent desiring ever 50 much 10 put the
country upon silver basis would lack
the means for doing so. On the con.
trary, for arguments sake, I will &C.
cept all you say on that point. But
yor omit 10 mention q fact AZ decisive
importance.
EFFORT TO CAUSE ALARM.
"lf the executive, as you say, pos.
sesse' the discretion Of paying silver
In settlement Of all interest on the
public debt not specifically payable in
gold, and Of making its daily dIsburse.
ments to It's creditors in silver, 1t is
owing loa flaw in the currency law
passed al the last session OF congress
"A law which, as the spokesman Of
the republican party promised, was
10 put the gold standard upon 40 i'm.
Pregnabls basis. Il was suggested at
the time BY some Of the critics that
IBIS law was PurpO.sl, ~ manipulated