The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-08-04

s17F a faTt
legal tender with that amendment the
hin passed and was known as he BLAND
Allison act. The Democrats were equally
s,csponsibie with the Republicans, bit
the Republicans were equally responsible
with the Democrats TOT the cnactrlert
OF this law. 81
This was a concession to the advocates
Of free silver, and while they were satis-
fled for time, later on they made
other demands and In 1890 Congress
passed another bill known as the Sher-
man bill, which authorized "the Secre-
tary Of the Treasury to purchase, from
time to time. silver bullion to tue nE-
sregate amount Of 4,5oo, 900 ounces. os so
much thereof as may be offered IL each
month at the market prise thereof, not
exceeding 81 for s71.25 grains OF pure
silver, and to issue in payment for such
purchases OF silver bullion treasury
notes etc. These silver purchases went
onffos some time and became the means
MS is we'll known, OF drawing the gold
out OF the treasury, and 1t was most
difficult under tho endless chain pro-
cess to keep the reserve fund Intact.
K 1t is believed BY most financiers that
the> Sherman act was responsible for the
panic OF 1885, but whether so or not. the
situation became so grave that In 1892
the National Democratic Convention de-
nounced the Sherman act is "a cowardly,
makeshift fraught with possibilities of
danger In the future which should make
all of It's supporters, as we'll as It's
author anxious for Its speedy repeal.
Conditions from that time on grew
worse instead of better and H. was q
Democratic President who called Con-
gress together in extra session and had
this mischievous Republican measure re-
pealcd. & /, n SIS
L The campaign Of 1896 came OH and
business throughout the country was SO.
demoralized that many Demo-
Gratis thought 1t necessary to resort to
heroic measures and the Democratic
marty came out for the free and unlimited
and independent COMA GO OF silver at the
ratio of 16 to /. The Republican con-
declared lii opposition to indie
pendent free COMA sc, but in favor Of free
coinage under international greement
and pledged itself to do what 1t could
TO promote such an arrangement between
the nations as would bring ABOUT free
coinage But the Republicans said no.
gaE "a i Y u.
thing whatever in their platform about q
the gold Standard, and IT. lis we'll known,
that Mr.. Mckinley In all his public ut
terances avoided The use Of that term.
It was the national Democratic party in 1
at indianapolis, which in tina Z
year declared boldly and unequivocally&
for the gold standard, and once more the
party took its cue from Dem
ocrats and in 1900 but not until then.
had tho courage. to declare for tho gold
Our point is that 1T was Samuel ~
Tildcn, tho nominee Of the Democratic
party, who suggested a large gold re-
serve fund as a means of bringing about 4
resumption of specie payments and res
storing the public credit. It was a Demo-
cratic President who had the Sherman
act repealed. and ~ protecting the gold I
reserve kept the country from going OH !
4 silver basis. It was a little band Of
Democrats gathered at Indianapolis in
1896 who boldly declared in terms for
HE. gold standard, when the Republican
party had committed itself to free
by international agreement Our
point is that the Republicans. with their
record on the money ques--
ion. stole Democratic thunder and now
pretend to have been The first and only
sound money, gold standard party.