William Jennings Bryan

“ There are many Republicans who tell us now that the prospect of tariff reduction has destroyed confidence to a greater extent than the Sherman law has.
In order to avoid another manufacturer's panic will it be necessary to abandon another tenet of the Democratic faith and give up all hope of tariff reduction? Unconditional repeal will make it more difficult to restore free bimetallic coinage. It cannot aid bimetallism without disappointing the dearest hopes of those gentlemen who are most active in its support. ”

“ The party can never undergo a more complete transformation upon any question than it has upon the silver question, if the representatives really reflect the sentiments of those who sent them here. We have been told of the great blessings which are to follow unconditional repeal. Every rise in stocks has been paraded as a forerunner of coming prosperity. I have taken occasion to examine the quotations on one of the staple products of the farm, and in order to secure a basis for calculation, I have taken wheat for December delivery. ”

“ What shall we say now when people elected upon a platform and pledged to a principle disregard those pledges when they come to the legislative halls? It is a blow at representative government which we cannot afford to give. We are not sent here because we know more than others and can think for them. ”

“ Yesterday's vote by the Senate repealing the Sherman silver lay did not have the effect on the stock market that the bulls expected. In the first place, London cabled orders to sell various stocks, much to the disappointment of local operators, who were confident that the action of the Senate would result in a flood of buying orders. The liquidations for foreign account induced selling by operators who had added to their lines on the belief that the repeal of the silver purchase act would instantaneously bring about a boom. ”

“ The wheat crop for 1892 was about 500,000,000 bushels. A fall of 1 cent in price means a loss of $5,000,000 on the crop if those figures can be taken for this year's crop. Calculated upon December wheat the loss since June 1 has been over $70,000,000, or one-sixth of its value at the beginning of the decline. The fall of 2 cents on yesterday alone, after the repeal bill passed the Senate and its immediate passage in the house was assured, amounted to $10,000,000. The fall yesterday in wheat, corn, and oats calculated upon a year's crop amounted to more than $17,000,000. ”

“ Speaker, against the use of the name business men in such a way as to exclude the largest and most valuable class of business men in the country. Unconditional repeal stops the issue of money. With this law gone, no more silver certificates can be issued, and no more silver bought. There is no law to provide for the issue of greenbacks. We must rely for our additional currency upon our share of the limited supply of gold, and the bank notes which national banks may find it profitable to issue. ”

“ We need not fear the result of such a contest. The patriotism of the American people is not yet gone, and we can confidently await their decision.
Source: William J. Bryan, The First Battle: A Story of the Campaign of 1896 (Chicago: W. B. Conkey Company, 1896) , pp. ”