LAD #24

 

 

In William Jennings Bryan's "Cross of Gold" speech, Bryan declared his support for bimetallism. He began by stating that a laborer was much a businssman as his employer. According to Bryan, the interests of the laborer, or common man, were just as important, if not more important, than those of the industrialist. This was because the prosperity of the country and the industrialists, represented by cities, depended on the success of the laborers. Because of this, the country did not only need the income tax, less powerful banks, and more transparency in government, but also greater representation of the common man in government. The issue of the gold standard was of particular importance to the country's working class and highlighted the deepening divide between the country's economic classes. The Republicans appeared to be representing the industrialists in regards to the issue, advocating for the gold standard. In their eyes, bimetallism could only be implemented when international agreement had been reached and if the wealthiest members of American society were propsering, their wealth would trickle down to members of lower classes. These ideas were intolerable to Bryan. Bimetallism, or the free coinage of silver at a ratio of sixteen to one with gold, would increase the amount of money in circulation and rescue farmers and workers from debt and poverty. This would make for a stronger foundation of the country and allow the country to excel as a whole. The Federal Government would also recieve money needed for carrying out reforms. Waiting for foreign powers to agree to bimetallism was simply un-American in Bryan's eyes. Instead, the United States should set the example for Europe and the rest of the world. The Democratic Party would rally around these ideas, endorsed by Bryan, and represent the working class on the issue of the gold standard.