The free lance. (Fredericksburg, Va.) 1885-1926, 1901-06-11

1901
were endangering the life Of the party
without in any way making il possible
To carry ont their design, even though
elected. Had the Democratic party sue
ceeded the Democrats from the States
which voted against that plank would
have voted against the legislation
TO ENsLNyE THE sOrTH
Then what was the object Of these
men? II would seem that there could
only be one solution. The hedeegates from
the West were personally interested in
the free coinage OF silver. for the reason
that il carried out it would open up the
western silver mines and double the value
OF all western property. The East would
have been injured only by the unsetting
of business. The East and West conld
by coalition obtain complete control Of
the finance and commerce Of the South.
All contracts would have been gold con
tracts. nder the free coinage law there
would undoubtedly be a provision by
which the western bullion would be- pre-
sented to the mint by the eastern banks,
and form basis Of permanent and con
slant credit for all western tranactions.
The bank would control the bullion and
the rates of exchange, and thus what
they would lose by the depreciation OF
contracts not already in gold, they would
about make even through their western
connections But the South produces no
bullion. Ii would have no means OF
maintaining a reserve in the East, such
as would be created for the benefit Of the
West by bullion. All Of its contracts
would be gold contracts For all of its
money it would be- dependent upon the
East and be compelled to pay whatever
rates the eastern banks saw fit to charge.
Then a part of the same --- To
prevent the Democratic policy Of the re-
peal OF the tax upon State banks, in or
der to prevent the southern States from
having any circulating medium whatever
for local purposes The West would have
its silver a. n basisior obtaining the gold,
and the East would control the gold, the
south would he prevented from having
even paper and would be under the absO-
lutte, complete and perfect control OF the
Feast and the West.
when made fight in the House for
the repeal of the 10 per cent. tax, Mr.
Bryan voted against it, and invite at
tention 10 his utterances at the time
which fully confirm what ! say. Con
gressman Baily, OF Texas, one OF the
ablest men in the United Safes, called my
attention to the sinister attitudes OF MIR
Bryan mt the time.
The western silver owners were eX
pected at the time of the convention to
put up the money for the campaign, but
the East had become so largely interested
in the newly organized industries OF the
South. and so much eastern money had
been Withdrawn from the West and
found profitableemploymentin tin the South
that the eastern bankers saw that they
had az much to lose by such an arrange
ment as they could possibly gain, and
declined to enter into the arrangement
demanded by the western mine-owners
At this point. which occurred when the
campaign was at its height, the promised
contributions to the Democratic treasury
failed TO come in. and several wealthy
silver mine owners made visits to New
York. then returned to their homes and
Joined the Republican party. Think o
Senator Stewart forgetting the crime o.
'73.
"rp to this time a number ofthe States
we admitted to be doubtful. Those O
Maryland, New York, West Virginia anc
Indiana were notably so. But.when the
financial scheme fell through, there wa'
no longer any doubt az to the outcome
of the election, and the doubtful States
all gave greatly increased Republican
majorities.
"The trouble with the South has al
ways been its clinging TO tradition, and it,
lacks of practical wisdom in preventing
the other section from imposing upon j
by underhanded means.