American ideals, and other essays, social and politicalRoosevelt, Theodore
General
American ideals, and other essays, social and political
Roosevelt, Theodore
National characteristics, American; United States -- Politics and government; United States -- Social conditions -- 1865-1918
When we cross the political line all this is changed. On the leading
issue of the campaign the entire triangle of candidates are a unit.
Mr. Bryan, the nominee for the presidency, and Messrs. Sewall and
Watson, the nominees for the vice-presidency, are almost equally
devoted adherents of the light-weight dollar and of a currency which
shall not force a man to repay what he has borrowed, and shall punish
the wrong-headed laborer, who expects to be paid his wages in money
worth something, as heavily as the business man or farmer who is so
immoral as to wish to pay his debts. All three are believers in that
old-world school of finance which appears under such protean changes
of policy, always desiring the increase of the circulating medium, but
differing as to the means, which in one age takes the form of putting
base metal in with the good, or of clipping the good, and in another
assumes the guise of fiat money, or the free coinage of silver. On
this currency question they are substantially alike, agreeing (as one
of their adherents picturesquely put it, in arguing in favor of that
form of abundant currency which has as its highest exponent the money
of the late Confederacy) that “the money which was good enough for the
soldiers of Washington is good enough for us.” As a matter of fact the
soldiers of Washington were not at all grateful for the money which the
loud-mouthed predecessors of Mr. Bryan and his kind then thought “good
enough” for them. The money with which the veterans of Washington were
paid was worth two cents on the dollar, and as yet neither Mr. Bryan,
Mr. Sewall, nor Mr. Watson has advocated a two-cent copper dollar.
Still, they are striving toward this ideal, and in their advocacy of
the fifty cent dollar they are one.
Public-domain text, read in full here on John Shaqi.
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