Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and PatriotEverett, Marshall
History
Complete Life of William McKinley and Story of His Assassination: An Authentic and Official Memorial Edition, Containing Every Incident in the Career of the Immortal Statesman, Soldier, Orator and Patriot
“Up to that time the coinage of silver dollars in this country had been
very limited. One would think from the tenor of this discussion that all
at once a great outrage had been perpetrated upon silver, that it had
been stricken from our monetary system at a blow, by the force of law,
when the fact is that from 1793 to 1805, a period of twelve years, we
coined but 1,439,517 silver dollars. From 1806 to 1836, a period of
thirty years, we did not coin a single silver dollar. From 1836 to 1873,
a period of thirty-seven years, we coined only 6,606,321 silver dollars.
In eighty years we only coined a total of 8,045,838 silver dollars. So
long as silver remained more valuable than gold there was no clamor for
the free coinage of silver, but in 1878, when resumption was an assured
fact, and the people had decreed that they would keep faith with their
creditors and pay their unredeemed promises, then the champions of cheap
money turned their attention to silver finding it had declined in value
from $1.03 in 1873 to $0.89 in 1878.
“The battle is now renewed under the plea of bimetallism, and the
advocates of the free coinage of silver seek to delude the people by
asserting that they are in favor of bimetallism while its opponents are
not. We have bimetallism to-day.
“The free and unlimited coinage of silver at any of the ratios named
will destroy bimetallism and will reduce this country to a single
standard, that of silver, and that depreciated, and I am suspicious that
for this very reason some gentlemen are anxious for its triumph. The
opening of the mints of the United States to the unrestricted minting
for individuals of silver into legal dollars at any ratio to gold less
than the commercial value of both metals, under the pretense of aiding
the cause of bimetallism or for the purpose of establishing or
maintaining bimetallism in the United States, is simply playing upon the
sentiment and credulity of the American people.
Mr. Bryan toured the country during the campaign, and spoke in all
sections of the country. He went into the eastern States, where the
opponents of the free silver doctrine were strongest and made numerous
speeches, but did the most of his work in the South and West. His fame
as an orator drew thousands to hear him, and under the spell of his
eloquence millions were brought to believe with him. When the campaign
was well under way, and the Republican leaders had in a measure checked
the spread of the free silver doctrine, they put forward again the
doctrine of a protective tariff, and declared it to be the real issue
before the people, and its maintenance necessary to the renewed
prosperity of the nation.
Public-domain text, read in full here on John Shaqi.
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