Jan 19, 1900
THAT COLD STANDARD PLANK
THAT COLD STANDARD PLANK

How Wall Street Gradually Forced the Republican Party to Surrender.
As a sample of the trickery, deception and utter dishonesty employed in fooling the average Republican voter, the "gold plank" in the last Republican national convention affords a good illustration.

The Republican party had always declared for silver, for its coinage into full legal tender, standard money. It was for bimetallism, and even the rabid Oregonian denied a few years back that the party intended to adopt the single gold standard; said we were all "liars" and "blackguards," and denied that there was the slightest intention of retiring the greenbacks; said the party was for bimetallism and always would be.

But there were people who could see a plan gradually unfolding to put the party on record for the single gold standard. It was to be done slowly and with the greatest caution, preceding each step with voluminous "arguments" in the subsidized daily press for this and that particular phrasing of the party's position on the silver question.

While the gold gamblers have had control of the party machinery for many years, it was not willing to risk, even in 1896, an open avowal for the single gold standard. So a plank was put in the platform at St. Louis declaring for (but never intending to support) free coinage of silver by international agreement, stipulating that for the present the party was opposed to independent free coinage but would endeavor to secure an "international agreement;" pending the success of this proposition the party would insist on "maintaining the present gold standard."

This was fine shuttling indeed! What monumental hypocrisy and rank humbuggery!

But it won its point, for enough silver men were thus held in line to swing the election to McKinley, who had in secret previously pledged himself to stand by the goldbugs.

Later a "commission" was appointed to look after the "international agreement" fake, and while they spent the $100,000 appropriation, McKinley, Secretary Gage and Ambassador Hay conspired to entirely defeat the proposition to secure an international monetary conference looking to the restoration of free coinage of silver in the various leading nations of the world.

Briefly, this is the record. The gold standard has been "maintained" according to the platform, and now the money power makes bold to play its highest trump card and force the Republican Congress and President to firmly fix it by national law.

William Yates Perot, who, at the time of the national convention in 1896, was an assistant Secretary of the so-called "National Sound Money League," now says:
When it became evident to Hanna, as McKinley's representative, that he controlled a majority of the delegates to the St. Louis convention he refused absolutely to have the word "gold" appear in the platform, claiming it would insure defeat.

But the pressure brought to bear by the money power of Wall Street was something overwhelming, and the desired gold plank, hedged about by a shrewd juggle of words as above recited, was finally made a part of the Republican platform.

Hanna was for the gold standard, but he was afraid of the revolt of the Republican silver men in the party, which, as it was, came near defeating McKinley. Hence he desired a sop thrown to silver and the word "gold" left out entirely. Hanna wanted to win, and he made no bones about it. But the money kings put up plenty of boodle, the monopolies shelled out most liberally, and the laborers were bulldozed with the threat of loss of work and starvation of their wives and children, and Hanna finally pulled McKinley through.

Now the gold power, bold in their undisputed possession of every branch of the government, make known their intentions in plain language. Mr. Perot, who is in the confidence of the "Sound Money League," says:
The great business interests [Wall Street bankers and gold gamblers] are now banded together and represented by active agents in every State in the Union. It is in response to their request that the gold standard is now being so plainly enacted into law that even Bryan, were he by any chance elected President, would have to stand by it.

These are the facts and every well-informed business man knows it.
Congress will pass the gold standard bill, and McKinley, the truckling, cowardly slave of the great money octopus, will sign it.

Republicans, here is the record of your party on the silver question. Dare you dispute it?