William Jennings Bryan

“ But, gentlemen, I desire to express it as my humble opinion that the Democratic party of Nebraska will never ratify what you have done here in this convention. In this city, when we had our primaries, there were bankers who called sons of their debtors in and told them how they must vote, but there are too many men in Nebraska who cannot be driven or compelled to vote as somebody else dictates. ”

“ We regard the right to issue money as an attribute of sovereignty and believe that all money needed to supplement the gold and silver coinage of the Constitution, and to make the dollar so stable in its purchasing power that it will defraud neither debtor nor creditor, should be issued by the general Government, as the greenbacks were issued; that such money should be redeemable in coin, the Government to exercise the option by redeeming in gold or silver, whichever is most convenient for the Government. ”

“ We declare our belief that the experiment on the part of the United States alone of free silver coinage and a change of the existing standard of value independently of the action of other great nations, would not only imperil our finances, but would retard or entirely prevent the establishment of international bimetallism, to which the efforts of the Government should be steadily directed. ”

“ On the 17th of September, 1891, I attended the Democratic State Convention held at Grand Island, Nebraska, and, as a member of the committee on resolutions, secured the adoption of the following plank:
We favor the free coinage of silver and demand that it shall be made a full legal tender for all debts, public and private; and we denounce as unjust and dishonest the provioins of the law recently enacted allowing parties to stipulate against payment in silver and silver certificates, thus setting up one standard for the rich man and another for the poor man. ”

“ I want to tell you that I shall still "more true joy in exile feel" than those delegates who are afraid to vote their own sentiments or represent the wishes of the people, lest they may not get a federal office. Gentlemen, I know not what others may do, but duty to country is above duty to party, and if you represent your constituents in what you have done and will do—for I do not entertain the fond hope that you who have voted as you have today will change upon this vote—if you as delegates properly reflect the sentiment of the Democratic party which sent you here ”

“ Upon invitation, I visited Nebraska and addressed this conference. A few days before leaving Washington, I received a letter from a Nebraska friend who suggested that a few silver Democrats had expressed themelves in favor of a demand for bimetallism without naming any ratio. Believing it necessary to make a bold and emphatic declaration, I at once telegraphed that the subject of my address would be:
We favor the immediate restoration of the free and unlimited coinage of gold and silver at the present ratio, without waiting for the aid or consent of any other nation on earth. ”

“ For twenty years the party has denounced the demonetization of silver; for twenty years it has proclaimed it the "crime of the age;" it has heaped upon the Republican party all the opprobrium that language could express because of its connection with demonetization ”

“ We insist that all our paper and silver currency shall be kept absolutely at a parity with gold. The Democratic party is the party of hard money and is opposed to legal tender paper money as a part of our permanent financial system, and we therefore favor the gradual retirement and cancellation of all United States notes and Treasury notes, under such legislative provisions as will prevent undue contraction. ”

“ Then in no other hands can be more safely lodged this greatest trust in the gift of a great people. Was public office created for the welfare of the people and the prosperity of the country? Then under his leadership in the coming campaign may we confidently hope to achieve these great ends in human government. ”

“ All were agreed that it was both wise and necessary for the silver Democrats to secure the temporary organization and control the convention at every step. It was generally understood that the National Committee, having a majority against silver, would recommend as temporary chairman some one hostile to bimetallism and at the conference it was decided to urge the minority of the committee to move to substitute the name of a silver Democrat for the name to be suggested by the majority of the committee. ”

“ In fact, in 1894 the Democrats of Nebraska contended for substantially the same policies which were embodied in the Democratic National Platform of 1896. To carry the parallel a little further, it may be remarked that the Republicans won in Nebraska in 1894; in 1896, however, they lost. In 1894 they secured a two-thirds majority in the Legislature and elected all the State officers except governor; in 1896 the fusionists secured a two-thirds majority in the Legislature and elected every State official. ”

“ The exact phraseology of the money plank of the platform was the only important matter in dispute. The Eastern Republicans wanted the platform to read as strongly as possible for gold; the Western Republicans were anxious to secure a free-coinage plank, and some of the Republicans in the Central States preferred a platform which would mean gold without using the word. ”

“ Mr. Newlands has for many years been an active champion of bimetallism and has delivered several very strong speeches in support of the doctrine. Upon taking the chair he said:
See Mr. Newland's Speech. For permanent chairman the convention selected William P. St. John, Esq., of New York. Mr. St. John, until recently connected with one of the large banks of New York City, has been a most earnest advocate of free coinage and, in spite of the local opposition which he has encountered, has defended bimetallism with great courage and ability. ”

“ See Minority Report on a Bill Authorizing the Issue of Gold Bonds. See Rothschild-Morgan Contract. I felt that the issue of bonds payable specifically in gold would establish a very dangerous precedent, and therefore took a deep interest in the defeat of the proposition. I believed that the issuance of gold bonds would be followed by a demand upon the part of the bond holding class for another credit strengthening act, like the one passed in 1869, except that this one would declare all bonds payable in gold. ”

“ These, together with a few who had, at the primaries, failed of election as delegates, assembled in a room of the Paxton Hotel and organized a new party. They called themselves "straight Democrats" and their candidates for State offices were placed upon the official ballot by petition.
It is interesting to note that the course pursued by the gold Democrats of Nebraska was the same as that pursued two years later by the gold Democrats of the United States and, it may be added, that in Nebraska, as later in the United States, they sought to secure the election of the Republican candidates. ”

“ Since I became interested in the discussion of monetary questions, I have often had occasion to note and comment upon the narrowness of some of the terms used, and nowhere is this narrowness more noticeable than in the attempt to ignore the most important business men of the country, the real creators of wealth. ”

“ The Democratic party was founded by Thomas Jefferson, and Thomas Jefferson dared to defy the wealth and power of his day and plead the cause of the common people, and if the Democratic party is to live it must still plead the cause of the man who wears a colored shirt as well as the man who wears a linen collar. You must choose today what kind of democracy you want. ”

“ By this time the agitation upon the question had reached a point where people were dividing upon the subject and I was pained to find my opinion running contrary to the opinions of many with whom I have been politically intimate, but the more I investigated the question the deeper my convictions became. ”

“ This was the first effort made to secure unconditional repeal, and there was coupled with it a proposition to allow banks to issue notes up to the par value of their bonds and to reduce the tax on circulation. It is significant that in recent years the effort to degrade silver has gone hand in hand with the effort to increase the control of national banks over the issue of paper money. ”

“ Our delegation established headquarters at the Clifton House, just across the street from the Palmer House, where something like a hundred Nebraska Democrats gathered daily, ready at all times to defend the principles set forth in the Chicago platform.
I may add for the encouragement of those who still believe that money is not necessary to secure a Presidential nomination that my entire expenses while in attendance upon the convention were less than $100. ”

“ Mr. Wilson of West Virginia, chairman of the Committee of Ways and Means, introduced the Administration measure, to which I have heretofore referred, and the great parliamentary struggle began. I then asserted, and still believe, that the debate over the repeal bill was the most important economic discussion which ever took place in our Congress. On the 16th day of August, 1893, near the close of the debate, I delivered the following argument in opposition to unconditional repeal. ”

“ That all the bonds of the United States issued or authorized to be issued under the said act of Congress hereinbefore recited are payable, principal and interest, at the opion of the Government of the United States, in silver dollars of the coinage of the United States, containing 4121⁄2 grains each of standard silver ”

“ Early Saturday morning, in company with National Committeeman Wall and wife, ex-Governor Peck, Mr. F. W. Von Cotzhausen, and other members of the Milwaukee reception committee, I started for that city, speaking briefly at Waukegan, Kenosha and Racine. The afternoon meeting at the National Park was interrupted by rain, or, rather, would have been interrupted, but for the fact that the audience insisted on staying in spite of the rain. Hon. W. C. Silverthorne, the Democratic and fusion candidate for Governor, presided at this meeting. ”

“ It treated with great force and clearness the subject of falling prices. The contest for permanent chairman of the Silver Convention lay between him and Mr. St. John, and when the latter was chosen the former was made permanent vice-chairman. Mr. Towne was present at the Republican National Convention, though not a delegate, and constantly conferred with the silver Republicans. Throughout the campaign his services were in constant demand and his time wholly devoted to the success of bimetallism. ”

“ One western delegate explained the position of the neutrals by saying that the people had an unreasonable prejudice against the word gold, and that it should be left out and some word substituted which had the same meaning but did not sound so harsh. ”

“ He at last, in a business way, suffered martyrdom for his convictions, relinquishing a large salary as president of the bank rather than keep silent upon a matter which he believed to be of vital importance to the country. ”

“ The Silver Republicans met soon after leaving the convention hall and laid plans for future action. On the 19th of June an address, the writing of which devolved largely upon Senator Cannon, was issued, setting forth the reasons which led the Silver Republicans to leave their party. ”

“ A little later in the same month, February 27th, an effort was made to secure authority for the issue of short time, low rate bonds. This I believed to be a part of the general plan to secure a legislative declaration favorable to gold and I therefore opposed the measure. ”

“ The bill failed of passage and the President then recommended the retirement of the greenbacks and Treasury notes with an issue of gold bonds. Mr. Springer prepared and brought forward a measure carrying out the recommendation. Mr. Reed, on the part of the Republicans, proposed a substitute which authorized the issue of low rate bonds payable in coin. ”

“ Ed. P. Smith, for the one suggested by the committee. After some debate, the candidate suggested by the committee withdrew his name and Mr. Smith was elected without further opposition. I wrote the money plank adopted by the convention ”

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