The 1896 Democratic National Convention followed events unique in post-Civil War American history. It was not in any concerted or open action, however, that Bryan had his strength; it was in the friendly predisposition of the mass of the delegates that he had hopes.[30]. The Washington Post newspaper recorded, "bedlam broke loose, delirium reigned supreme. Delegates threw hats, coats, and handkerchiefs into the air. Unfortunately, no recordings exist of his original speech. A cartoon from the magazine "Judge" criticizing William Jennings Bryan for his "Cross of Gold" speech. They can find where the holders of fixed investments have. From the money plank of the Democratic platform[48], Good luck favored Bryanhe was considered for various convention roles by the silverites, but each time was not selected. What we oppose in that plank is the life tenure that is being built up in Washington which establishes an office-holding class and excludes from participation in the benefits the humbler members of our society. The session was supposed to begin at 10:00a.m., but as delegates, slowed by the long commute from the hotels to the Coliseum and fatigue from the first two days, did not arrive on time, proceedings did not begin until 10:45. We demand that the standard silver dollar shall be a full legal tender, equally with gold, for all debts, public and private, and we favor such legislation as will prevent for the future the demonitization of any kind of legal tender by private contract. Why is it that within three months such a change has come over the sentiments of the country? (The cartoon appeared in the post-dated July 7 issue of Harper's Weekly, published in late June.) They have tried for thirty yearsthirty yearsto secure an international agreement, and those are waiting for it most patiently who dont want it at all. [34], The Bimetallic Committee carefully planned to take control of every aspect of the convention, eliminating any threat that the minority gold faction could take power. Updates? https://en.wikipedia.org/w/index.php?title=Cross_of_Gold_speech&oldid=1138712489, United States National Recording Registry recordings, Short description is different from Wikidata, All Wikipedia articles written in American English, Pages using infobox event with unknown parameters, Pages using infobox event with blank parameters, Creative Commons Attribution-ShareAlike License 3.0, Bryan nominated for president by the Democrats, This page was last edited on 11 February 2023, at 05:01. [106] Historian R. Hal Williams suggested that the opposite philosophy, of legislation for the masses leading to prosperity for all, advocated by Bryan in his speech, informed the domestic policies of later Democratic presidents, including Franklin Roosevelt with his New Deal.[107]. Advocates of the gold standard attributed the decline to advances in production and transportation. [57] Bryan then defended the right of silver supporters to make their argument against opposition from gold men, who were associated with financial interests, especially in the East. Forward-Looking Statements Except for historical information, this presentation may contain certain "forward-looking statements". Bryan, an advocate for free silver made a speech at the Democratic National Convention which became known as the "Cross of Gold" in his speech he spoke against the gold standard and for silver to be back as a monetary standard. What we need is an Andrew Jackson to stand as Jackson stood, against the encroachments of aggregated wealth. Although Altgeld and his adherents urged voters to distinguish between Cleveland and his party, the Democrats lost 113 seats in the House in the 1894 midterm elections, the greatest loss by a majority party in congressional history. [16] By 1893, his views on silver had evolved, and on the floor of the House of Representatives, he delivered a riveting three-hour address against repeal of the Silver Purchase Act. According to Jones, it was clear that Bland could not win, and that Bryan could not be stopped. This legislation defined a unit of value for the new nation, to be known as a dollar. The 36-year old Bryan was an avowed bimetallist, placed himself in the tradition of Thomas Jefferson and Andrew Jackson against moneyed interests and in favor of "hardy pioneers who braved all. They write new content and verify and edit content received from contributors. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex. I deny it. I shall not slander the fair state of Massachusetts nor the state of New York by saying that when citizens are confronted with the proposition, Is this nation able to attend to its own business?I will not slander either one by saying that the people of those states will declare our helpless impotency as a nation to attend to our own business. That is the question which the party must answer first, and then it must be answered by each individual hereafter. This speech, delivered at the Democratic National Convention, helped win the Bryan, former Representative to Congress for Nebraska, the presidential nomination of the Democratic party. Co-founder, Chairman and CEO of Meta Platforms (formerly Facebook, Inc.) Co-founder and co-CEO of Chan Zuckerberg Initiative . If they dare to come out in the open field and defend the gold standard as a good thing, we will fight them to the uttermost. from Harper's Weekly, 18 July, 1896. [5] It was not until 1834 that Congress acted, changing the gold/silver ratio to 16.002:1. We reply to them that changing conditions make new issues; that the principles upon which rest Democracy are as everlasting as the hills; but that they must be applied to new conditions as they arise. Conditions have arisen and we are attempting to meet those conditions. The bill, as modified by amendments sponsored by Iowa Senator William B. Allison, did not reverse the 1873 provisions, but required the Treasury to purchase a minimum of $2 million of silver bullion per month; the profit, or seignorage from monetizing the silver was to be used to purchase more silver bullion. [31], Many state conventions elected delegates pledged to support bimetallism in the party platform. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The silver would be struck into dollar coins to be circulated, or else stored and used as backing for silver certificates. During the convention, he. [52] Although Tillman endorsed silver, his address was so laced with sectionalism that most silver delegates remained silent for fear of being seen as supporting him. [Note on the recording: In 1896 recording technology was in its infancy, and recording a political convention would have been impossible. [35] Well aware of the overwhelming forces against them, many gold delegates were inclined to concede the platform battle. [4] In 1830, Treasury Secretary Samuel D. Ingham proposed adjusting the ratio between gold and silver in US currency to 15.8:1, which had for some time been the ratio in Europe. Our ancestors, when but three millions in number, had the courage to declare their political independence of every other nation; shall we, their descendants, when we have grown to seventy millions, declare that we are less independent than our forefathers? Our editors will review what youve submitted and determine whether to revise the article. The task of relieving the jobless fell to churches and other charities, as well as to labor unions. [90] The only paper to predict, after Bryan gave his speech, that he would not be nominated was The Wall Street Journal, which stated, "Bryan has had his day". The Democratic Party wanted to create more upward mobility for people. I come to speak to you in defense of a cause as holy as the cause of libertythe cause of humanity. We beg no longer; we entreat no more; we petition no more. [33] Silver forces were supported by the Democratic National Bimetallic Committee, the umbrella group formed in 1895 to support silver Democrats in their insurgency against Cleveland. If the gold standard is the standard of civilization, why, my friends, should we not have it? Why, as individuals we might have been glad to compliment the gentleman from New York [Senator Hill], but we knew that the people for whom we speak would never be willing to put him in a position where he could thwart the will of the Democratic Party. But note the change. The galleries were filled with white as spectators waved handkerchiefs, and it was several minutes before he could continue. But in the early 20th century, the fame of Bryans Cross of Gold speech led him to repeat it numerous times on the Chautauqua lecture circuit where he was an enormously popular speaker. I tell you that the great cities rest upon these broad and fertile prairies. The income tax was not unconstitutional when it was passed. It is true. 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Out of all of the prominent business figures that arose during the Gilded Age, Andrew Carnegie is perhaps viewed in the most positive light. [45] The DNC's action could be reversed, but not until the convention's credentials committee reported. Consciousness of grievances of years and not of months was reflected in the decisive action of the state Democratic conventions in the spring and early summer of 1896. [1], Bryan later described the silence as "really painful" and momentarily thought he had failed. We do not come as aggressors. At Bryan's words, he threw his hat into the air, slapped the empty seat in front of him with his coat, and shouted, "My God! [25] Bryan biographer Paulo E. Coletta wrote, "during this year [July 1894 June 1895] of calamities, disintegration and revolution, each crisis aided Bryan because it caused division within his party and permitted him to contest for its mastery as it slipped from Cleveland's fingers. [102] Bryan's emphasis on agrarian issues, both in his speech and in his candidacy, may have helped cement voting patterns which kept the Democrats largely out of power until the 1930s. The miners who go 1,000 feet into the earth or climb 2,000 feet upon the cliffs and bring forth from their hiding places the precious metals to be poured in the channels of trade are as much businessmen as the few financial magnates who in a backroom corner the money of the world. My God!"[70][71][73]. Not only that, but as he listens he can hear with ever increasing distinctness the sound of the waves as they beat upon the lonely shores of St. Helena. Hear William Jennings Bryan deliver his Cross of Gold speech at the Democratic National Convention, William Jennings Bryan: presidential campaign poster, This article was most recently revised and updated by, https://www.britannica.com/event/Cross-of-Gold-speech, The Library of Congress - "Cross of Gold" Speech, Public Broadcasting Service - Cross of Gold Speech. Mr. McKinley was nominated at St. Louis upon a platform which declared for the maintenance of the gold standard until it can be changed into bimetallism by international agreement. [ 73 ] that Bryan could not be stopped you that the great rest... ; s Weekly, published in late June. else stored and used as backing for silver certificates action! Andrew Jackson to stand as Jackson stood, against the encroachments of wealth. Each individual hereafter in its infancy, and handkerchiefs into the air described silence! Co-Founder, Chairman and CEO of Meta Platforms ( formerly Facebook, )! 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