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Updated: June 21, 2025
But the leaders thought differently, and from their own point of view their course was natural. The country desired more silver. Business was largely extended, overtrading was the rule. Farmers and business men were straitened for money. Economists, statesmen, and politicians had told them that, as their trouble had come largely from the demonetization of silver, their relief lay in bimetallism.
His undoubted power to carry an audience with him was never better demonstrated than on that sweltering July day in Chicago when he stilled the tumult of a seething mass of 15,000 people with his announcement that he came to speak "in defense of a cause as holy as the cause of liberty the cause of humanity," and when he stirred the same audience to frenzy with his closing defiance of the opponents of free silver: "If they say bimetallism is good, but that we cannot have it until other nations help us, we reply that, instead of having a gold standard because England has, we will restore bimetallism, and then let England have bimetallism because the United States has it.
The Republican party which advocated international bimetallism in 1884, condemned the Democratic party in 1888 for trying to demonetize silver and endorsed bimetallism in 1892, favored "sound money" and international bimetallism in 1896 and renewed its "allegiance to the principle of the gold standard" in 1900.
The question of international bimetallism will have early and earnest attention. It will be my constant endeavor to secure it by co-operation with the other great commercial powers of the world.
Now Howard Vincent is known to all men as one of the people who speak in season and out of season, when once they mount their hobby. The other day I heard of a bimetallist who was so fond of discussing bimetallism that the railway carriage, in which he went to town every morning, was always left vacant for him; nobody could stand him any longer.
Not a member gave his true reasons for the votes he cast; he gave what he wanted the world to think were his reasons. Finance was on the carpet in that hour, and bimetallism and monometallism, silver versus gold, were in everyone's mouth.
When was the Resumption Act passed? Are the greenbacks in circulation to-day? What is free silver? What was the "Crime of '73"? What was the "Bland-Allison Act"? What was the Currency Act of 1900? What is Bimetallism? What is meant by "Mint Ratio"? What is meant by "Market Ratio"? What is meant by "Free Coinage"? What is meant by "Gratuitous Coinage"? What is meant by "Standard Money"?
He had better not coquette with the foolish and unpractical thing "Bimetallism," or write books on "Philosophic Doubt"; for there are many things which we must certainly believe, are there not? Quite enough either for the highest idealism or for ordinary life. Is this to be the last day of Gladstone's life in the House of Commons?
In the future I shall take occasion to transmit to Congress the report of this Commission, making at the same time such further suggestions as may then seem advisable. Under the provisions of the act of Congress approved March 3, 1897, for the promotion of an international agreement respecting bimetallism, I appointed on the 14th day of April, 1897, Hon. Edward O. Wolcott of Colorado, Hon.
I am convinced that he really believed in his heart that I came round to the Chestnuts three days a week for the pleasure of his company, and very especially to hear his views upon bimetallism, a subject upon which he was by way of being an authority.
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