Page:Coin's Financial School.djvu/154

136 at a premium over gold, the United States can hold its commercial value at a par with gold.

"But we alone would not have to maintain it. We know now that Mexico, South and Central America, the Asiatic governments and France would be with us from the start. The nations that would immediately support bimetallism are stronger in 1894, than those were in 1873 that maintained it then. Of all those that we had then, we would start with only the loss of Germany and Austria, and a few lesser principalities." [Applause.]

Mr. Lyman Gage, president of the First National Bank, who put questions to on the second day of the school, now interrupted the speaker.

"Suppose," said Mr. Gage, "that after all, the independent action of the United States did not establish the parity between the two metals?"

"Why hesitate at the supposition of an improbability," replied. Continuing he said:

"To suppose that such will be the case is to borrow trouble that is not at all likely to occur. But if it does, we are more fruitful of resources than are the obstacles insurmountable that may be thrown in our way.

"To begin with, we would want an administration at Washington that is friendly to republican institutions.

"The government should exercise its prerogative as of old to pay in either metal it sees fit. Gold must be given to understand that it is not indispensable to the currency of the country. This will depreciate its importance. The bankers of the great money centers must be given to understand that they must take their hands off the throat of the government. That they cannot dictate to the government what is money. The government will dictate that to them. The selfishness of the few must submit to the interests of the many. We will