The United States Since the Civil WarLingley, Charles Ramsdell
History
The United States Since the Civil War
Lingley, Charles Ramsdell
United States -- History -- 1865-1921
The free-silver movement nevertheless continued to gather momentum. For
some years influential silver advocates had been associated in the
Bimetallic League, an organization which supported the free coinage
of both gold and silver. Among its members were prominent Democrats,
Republicans and Populists, especially from the western states, and some
of the foremost labor leaders. At one of its meetings in 1893 it was
determined to invite every labor and industrial organization in the
country to send delegates. A few experts, even in the East, gave some
scientific support to the argument for the greater use of silver.
Eastern Republicans like Senator Henry Cabot Lodge proposed free coinage
of both metals by an international agreement, which, they thought,
might be brought about through threats of tariff discrimination against
nations refusing to adhere to the arrangement. A silver convention in
Nebraska in 1894 was attended by a thousand delegates. From the point of
view of party harmony the subject was a nuisance. Democratic state
conventions were badly divided. Thirty of them adopted resolutions
distinctly favorable to free coinage and fourteen opposed. Ten of the
latter committed themselves definitely to the gold standard. The
fourteen included all the northeastern states, together with Michigan,
Wisconsin and Minnesota. Such gold Democrats as President Cleveland
sought to stem the tide, but Cleveland's control over his followers was
rapidly dwindling, and it seemed likely that the silver element of the
party might reach out to seize the organization and displace the former
leaders.
The Republican professional politicians were as ignorant of technical
monetary problems as the Democrats, and moreover did not wish to risk
popular disapproval in any section by utterances which might be
offensive to that part of the country. The first Republican state
convention during 1896 was that in Ohio. Its financial plank was
awaited with interest, because of the early date of the meeting and
because its proceedings were in the hands of friends of the most
prominent candidate for the Republican presidential nomination. The
convention dodged the issue by demanding that all our currency be
"sound as the Government and as untarnished as its honor," and that
both metals be used as currency and kept at parity by legislative
restrictions. The New York _Tribune_ thought that this could mean
nothing but a gold standard; the _Times_ was fearful that it would lead
to silver; the _Springfield Republican_ condemned it as "chock full of
double-dealing." Its ambiguity, however, was in line with the purposes
and ambitions of two men who were actively preparing for the campaign
of 1896--Marcus A. Hanna and Major William McKinley.
Public-domain text, read in full here on John Shaqi.
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