The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-12
UNRELIABLE LEADERS.

UNRELIABLE
Now that there is no danger in 16 TO 1 as
an issue or as a theory, it IS amusing to
read the reasons which those who still be-
lieve in free coinage of silver give for not
making it an issue any longer without con-
Tossing that it was a dangerous or even an
unwise proposition either in 1896 or in 1900.
Even Mr.. Bryan, while holding to the wis
dom of bimetaHism at the once sacred ratio
of 16 to l. declares that the unlooked-for
output Of gold has made the adoption Of
free coinage a less urgent issue than it was
in 1896, when it was the leading issue. 1t
is not, however, Mr.. Bryan and those men
who sincerely believed in free coinage of
silver who are now in mind, but that class
in the advocacy of the heresy in 1896 as
was Mr.. Bryan. but who did not really be-
lieve in the heresy, but accepted it as an
issue because it promised TO give their
party a national victory. In this city there
were prominent Democrats who fully real
lied the disastrous effects of the free coin
age of silver months before the nomination
of Mr.. Bryan in 1896, and did not fail to do
what hey could TO influence their party
against declaring for such a policy. The
views of some of them, expressed in public
addresses. could now be quoted setting
forth the evils which would follow. free
coinage. But. after the convention. and
when it appeared that Mr.. Bryan would
be elected. these men smothered their con-
v%ictions, and. as two or three of them de-
clared, met with a change of heart. The
most of those leaders who took to the 10
to-1 heresy in 1896 and were most extrava-
CANT in their utterances in its favor present
the same stereotyped excuse. namely, w
did not foresee the marvellous increase of
the production of the gold mines"
Unfortunately, that excuse is not well
founded. In 1895. when Coins book
caused a decided sentiment in favor of free
coinage. it was demonstrated, and the dem
onstration was reiterated, that there was
no need of silver coinage because the then
increased output of the gold mines insured
an ample supply of primary money for the
worlds use. 1t was explained that scien-
tlHC discovery III the treatment OF ores
and the investment of large capital in ma
chinery had made it profitable to work ores
which had no value IL 1890. The wonder
fully rich mines in the United States, Aus
tralia and South Africa, then putting out
increasing quantities of gold, presented nc
fact to stop their cry that the world would
not have sufficient primary money until 81
cents worth of silver should be stamped one
dollar. The figures showing the increase OF
the worlds annual gold output from $94,.
O72,S05 in 1890 to $3.50, $50, 900 in 1891. $146, 297,-
600 in 1892, $151, 22S. 100 in 1893, S1S1, 1850 il
1894, and sos. 763. eco in 1895. proving that in q
few years the annual output of gold would
be $3.50, OOO.OO a year before the next presi
Dental election. jid not appeal to them.
If these leaders were so ignorant of tn,
worlds affairs that they could not see tn,
suficiency of gold for the worlds none!
in 1886. they confessed themselves incapable
of directing the affairs of the United States
If they lacked the capacity in 1896 and 1900
there is no evidence that they have sine,
become sufficiently intelligent to be accept
ed as leaders. The real truth is. those lead
ers who led the party in Indiana in 1s9
knew that 16 10 l was a dangerous heresy
but they preferred to take the chances o
forcing it upon the country if the doing o
II would give them the control Of nationa
affairs.