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About The Corvallis gazette. (Corvallis, Or.) 1862-1899 | View Entire Issue (Sept. 3, 1896)
A. COMMON : SENSE - TALK. I ' 4 ' '. ' . . , . THE WALDO HILL'S FARMER MAKES AH ABLE ADDRESS. Logic That Is Logic A Brilliant Speaker With a Brilliant Record In Old Marion ; County., ' Salem, Or., Aug. 21. Hon. T. T. Geer, republican candidate for presidential elec tor, delivered an address here tonight un der 'the auspices of the Workingmen's Republican club, and greater enthusiasm within the rank and file of the party dates from this occasion. - The large armory hall was filled with workingmen and others anxious to hear their fellow countryman discuss the political situation. The speaker talked with the earnestness of a man in sympathy with his hearers, and the audience was responsive, listen ing with rapt attention for two hours, breaking into outbursts of applause fre quently. The speaker was plied with questious at intervals, and, assuming the character of teacher, good naturedly an swered all and invited more. The speech was as follows : . ' ' We are all complaining of .hard times, and justly so. Although there are half a dozen- parties in th4cldf with two candi diases jjaf the presidency, everybody agrees that the one thing needed, first and most, is a remedy for the present indus trial depression, and there is a unani- , mous agreement that we want it now. The question is, What shall we do for a remedy? Times began to get hard with the first appearance of the populist party on the political horizon of this country, but. its effect was not more than a mere undertow in public concerns until it be came strong enough ' to put the demo cratic party in power in 1892, since which . time the condition' of the country lias been growing from bad to worse, with no - possible Chance for relief or respite, save '' in the success of the republican party at the end of this campaign. If our party ' ' does not triumph in November, then the populist party will, and to expect a four years' dose of populism to cure the effects . we are experiencing from a similar dose of democracy, inspires about the same - degree of hope yon might find in the ' bosom of a man who upon finishing a term in state's prison for theft discovered - himself facing an indictment for murder in the first degree. - ' And that the prospective success of the - populist programme should - make all kinds of business tremble is as plain as ' that two and two make four. Although I admit that the populist belief that gov ernments can - make something from nothing, and that. 50 cents make a dollar ' if the law -only says so, would be as likely - to make five the sum of two and two as any other amount. ' :-s - ' -. - We are all complaining because money . is not . in circulation, and we all agree . that times will "be no better until sonie- body begins to employ'it in industrial en- ierprises. Now, when that, desired condi " tion comes abont, who is going to employ capital men who have got it, or men ; who haven't ? The- present aggregation of heterogeneous isms that is trying to down the republican party, is based on one chief declaration, that it is bitterly hostile to millionaires (unless they. own '8u"veF4njnes(uand bankers, nd the rob-' ber baron manufacturers, and every other class of men or association of men who' -' have at their command any considerable sum of money. Indeed, their chief complaint is that the money of the country is in the hands of the rich-r-as though it could be any- where -else I If there is any man pres ; ent who can name any country on earth where the money is in the bands of the poor, or ever was, I will immediately . join this crusade of Mr. Bryan's against the only men in the country who have ' got any money to circulate and see what (' we can do to induce the poor to employ our idle men ; but I wish to say in ad vance that I belong to the poor class my self, and I am just contrary enough to insist that no kind of coercive legislation is going to persuade me to start either a woolen- mill or iron foundry, not this year, and possibly not next. Of course, I could as well as any other poor man, but I don't feel a bit like it. Now,4he absurdity of the workingmen . of this country, whose first desire is employment, aiding a party which is arrayed in bitter, hostility to the only men who can ever afford them relief, is " apparent to every man who troubles him self with a second thought. -As long as a cln'o is held over the heads of men who have money, one end of which threatens to patronize, foreign manufacturers be cause they, turnish cheaper goods, and the other end fuivs we are crni n or o intm- duce," a fluctuating standard of money that will make investments uncertain and business calculations impossible, just that long will men with money keep it with drawn from the channels of trade.' And they will do it in self defense, as the only sensible, thing to do. " The present crusade against -capitalists would appear - "money power," "pluto .crat and "shylock" on the one hand, and "bimetalism and cheap money" on the other, though about as heavy an ar gument as I have heard on that side is when an opponent is called a "goldbug.V And. yet the gold standard was practic ally established in 1834, more than sixty years ago, jwhen congress first made the ratio of 16 to I, and undervalued silver by so doing. . From that time until after the "crime of '73 there was virtually no silver used in this country. But in ,. 1853, in order to induce at least the silver half dollars and quarters to remain in the country, congress passed a law to reduce the amount of silver in them and make them less valuable for other purposes than for- money circulation. The chair man of the house committee on ways and means, in : reporting the bill, gave the following reasons-; - "We intend to do what the best writers on political economy have approved ; what experience, where the experiment has been tried, has demonstrated to be necessary and proper to make one stand ard of currency, and to make all others subservient to it. : We mean to make gold the standard coin, and to make those new-elver coins applicable and con venient, not for large, but for small transactions.'.' . Now the leading statesmen during that "period in our country's history stand today as high in the estimation of our opponents ana . especially in tne esti mation of onr people as those of an earlier generation, and yet they openly declared 2sfi "goldbugs" by Therefore, if the gold standard -.was,- adopted in 1853, or if it was noCadoptedi until 1871. the fact remains that five times as much silver has been coined "true, then prices could never decrease, be under the gold standard as was coined cause every year sees more money added before ; and if the amount of silver to the total volume of money, than the coined depends on the standard in use, year before. Now, whether you assume and if the gold standard has produced - that prices are determined by the total 50 times more standard silver dollars in amount of gold and silver, or whether 20 years than the so-called douDie stand- irrf did in 80 vears. and more esoeciallv since the later fathers declared in favor of the gold standard, and since all free coinage 'countries have debased silver coins and a contracted currency by reason of the consequent expulsion of gold, there remains nothing for the praises to the gold standard and shout in the fervency of his joy: "Oh, -gold- bug' where is thy sting; oh, 'silverbug sincere tnena ot silver to ao, dui to sing nrtvoro to tli - . where IS thy victory t "... . w, . . . - . - , . , , . .,7. evei-jr aruutf .ui ucsiie, ui cvtjiLiuiiic uiut iuw xitxo uccu wicu wo wiiuc uoio, or iao.uuu.uuu. mis Drovea to be an ex There is something positively amusing used in the business, then the popocratic i. haM nr ,M. Thw two motni. ... ..t,.Mii...n.teni...,h,. S?' X.. ... Jf.. about the pertinacity with which the wheat-buyer could snap his fingers at only measure all things but they measure Benate, I was held to be the chief crlmi- companled by the following Oration" popocrats contend for the ratio of 16 to i, Rothschild and all the other " Shylock JSSViSiSS nai- " waa- m tect a wise mea3ure ot made a part of the repealing act: ' under any and all conditions. Nobody demons, for his countless millions now of silver were worth more than one ounce PubUo policy, carefully discussed and. con- -And It is hereby declared to be the pol ' else has ever done so in this country, or locket up " could be used for " estimat-- of gold. Now 31 ounces of silver can be sldered during three years. icy of the United States to continue the use in anv other Even the " fathers " prop- 'ine " iust the same, and prices would go bought by one ounce of gold. This flue- "When we test the outcry against this of both gold and silver as standard money in any raner. cu ""r7 .f- J"Z:l eiL;Kr i- tuation of value cannot Be prevented by act with the sober facts shown toy official and to coin both gold and silver into money i er established the ratio of 15 to 1, and up in spite of " enemies of the people. law. It & bey0nd the. reach of legislaUon. records, it appears simply ludicrous. The of equal intrinsic Tahd exchangeable value made a mistake, as our later fathers did, The fact is, the quantity of money cnts it Is caused by the changing demands total number of silver dollars coined from such equality to be secured through Inter when they made it 16 to 1. ; little or no figurein determining JS uS?S!! BoS nees! ? wa whUe the "mber'- tlonal agreement or by such Safeguards No ratio has ever been regarded as of price of an article, but the quality of the srysIney-suVer to supply the of trade doUars Issued under the coinage and legislation as will Insure the maln sacred origin until our- latter-day saints money does, and i is for this reason, and wants of life, and gold to measure the aet ot 1S73 containing 7V4 grains more ail- tenance of the parity in value of the coins came under the influence of the 16 to I this alone that the tendency of free coin-' larger transactions of business, and espe-. ver than the old dollar, was 35,965,928, and of the two metals and the equal power of genii, and they now generally hold that " In the Beginning God created the heav- jr the ratio of 16 to 1. and then the earth." S " "" " ' ' - There might be some excuse for favori . .. . - r i mg tne iree coinage 01 .silver w. mc iuu auu, ut" - 11,cr mand the free coinage of silver and de- , , . of 16 to -I if the poor reason could be farmer would be the last man to realize and is now one of the most pressing after. nounce as goidltes' and "robbers all-those a"?m'n the payment of debts.' , that it wnuldlbe an experiment but even that delusive "rise in prices " for more hao 100 yeara of national growth, who beUeve in the coinage of both gold This declaration, made by congress and, given ttat it would bean expOTmen e . approved by the. president at .Ume when it would not be even that That our gold the reason that now, when he goes to the mon Btandards of value In the United States "It has been said that the dropping of the public mind was centered upon the ail would at once disappear is as certain as store with butter and eggs, the merchant at the ratio of 15 to 1. but this was be- the silver dollar In the coinage act of 1873 Ver question Is a wise statemftft of public that there is now no gold in any free fixes the price on the butter and eggs and cause that then the actual rnarket value, af"" dJbatfnoo3 P0cy that ought to be acted uVon without . coinage country in the world. This is so also on the shoes and cloth, the farmer of 15 ounces of silver was equal to the nand ag(Z nyyby t he dTClaratlons reard. to party divisions. This bill passed because the cheaper money always drives buys. This system never will be changed,- actual market value of one ounce of gold. of men who roake the charge, six- a house of representatives fresh from the the dearer money out and does ag the and the farmer would be virtually as help- . T People by the vote of 239 ayes and 118 lr!; itcJf .thi.k sn herinae if less as the wairMarner to " fii mices" thte raUo by Thomas Jefferson, then sec- Senator Jones, of Nevada, in debate in noes, and the senate by the vote of 43 ayes business itself, and this is so because 11 less as we wage-earner to nx prices . rt,tary of state and Alexander Hamilton, the senate, June 11. 1874, said: against 32 noes. This act was not a nartv you. yourseii, my iree-siivcr incuu, uu note falling due the first day of next Janu- h.J in r.,r -nnecMcinn .m ratnise and a iooo stallion I sav under such condi- f;V " M jht ;tfl fh ttons you would pay the debt with the lo cayuse because, it filled the con- tract it was one horse.'. I cannot make it plainer than this, and - only want to add to this phase of the subject that no law could ever be passed hot m,,lrl enahle 9 nation to rvsne from that would enable a nauon to escape irom thefactthat the two metals cannot be coined at an arbitrary bullion ratip and both remain in circulation. The immediate effect, then, of the pas-, sage of a law providing for the freexoin- aee of silver at the ratio of 16 to . I, wUl be to contractur e amountof our gold, and to reduce the purchasing power of the remainder to the bullion value of silver, or to 50 cents on the dollar! " ; ' - " Every workingman' who likes this prospect should vote for the free coinage of silver. . j u I a h aoce anu yreiuuiwccvci nuuwu iu aumi- can politics. There is no jeason for veryhool boy not knowing that even though something wrong on this question was done in 1873, it was all , righted five .years later, and after every other, great commercial nation had excluded silver from its mints, our government began -coinivgSlfiSvao pel month, whicf it continued to do forl2 years, when" It was superseded by ; the Sheman law that fur-. uiaucu iutuk.c. iui ati vet uuintu w vut & . v arv. DV tne terms 01 wnicn you. agrccu sausucu, uui a aim uac uu ouiuiug lan-u "" - ' -, parties or tne country. to oav John Smith on that day "one that the -farmers of the counUy wiU vote ih 1 "And here, fellowtlzens. horse." and if. when that dav came, vou for" McKinlev. - protection and sound at that ratia. i ,ih Si t-.7. stand. I appeal to , .V?"" " T. ZZ,rSA"-C7r:rl'rr "'B"f""" "l.frcBiu1 ?Kt"?' to pay the interest on your national debt, . Total rainy treated oy -our government is ciiy lauur, uol, pernaps, ua a cross n nuu unuer- ine leaaersmp or uamei weo- which Is right, which cannot be avoided If " ' he must Hemncrotrtcal anneal to ipnor- pold. but what would be infinitely worse, ster and Thomas H. Benton, congress vou mean to' save the national honor. or about equal to the entire product of time in its history have I felt myself an- ,' both metals have been circulated slm- world respect-it all the thna The Eng ish curreijey certificates, act June 8. ' . -the. American silver mines. PThis law der stronger obligations to -.yield to it $1J ,' .?..v.?,xr.. . ffl.40. remained in force for three years, and ' during all these years the other great .tiAn.nf il,..rtLtvJ t, : aa,e. nations of the earth stood by in amaze- merit and said : "In the name of heaven how long can the United States hold sil- ver np by her own unaided efforts? But the end came in 1893, and while we were in the very , midst of furnishing the greatest market for silver it ever had, it fell in value the fastest and furthest. '- Now it isonly necessay to say that if our government could not keep the price of silver up when it was up, how in the name of common sense can we be ex- pected to put it np when it is down ? - Jt we could only be reasonable about this question, about two-thirds of this bosh we hea'r about W-silver coinage would be abandoned long before the No- vetnber election. - - Bnt there is one proposition made by the free-silver advocates before which . . 1 ....... j reason stands agnast, -ano : patriotism- ivora nave mercy on tne. souis 01 me r--j-i-T. ";:irri until January, iss, tnat tne nrst etep -r 7X. ,y It trembles. Jt is tnat our country should thoughtless men who. with the history econnavev ratto ofTto'l."1 wUh at tha open our mints to silver in order that our of their own and other countries to guide where the experiment has been tried, has -During this period silver rapidly fell "But we are now brought face to face workingmen may compete with Mexico, them, persist in voting blindly and arbi- mllSAtntnJiSSlJS!l 'l rkei v??"e w'w So& at the ratio with a proposition which If agreed to will China and Japan in the markets of the trarily to perpetuate and aggravate the "SkT bnl 'one stanTSirrSncyd Sfa" hages"1 were" midiSSUe1 "IfV,8,","16 Mle 8tanaard of value for world. This argument means simply and depression which even now threatens to all others subservient to It We mean leading countries Tthe world Ger- 5 ,nd ,!edlts or w,gM of la" solely that free-silver countries having engulf themselves and their fellow-citi- to ma)ta w the standard coin. many, in 1871, changed Its standard from 5?r 0,6 Purchase and sale of property..' "cheao monev" as a conseonence. have zens. , ' This, I suppose, would be called the silver to gold. - France, Italy, Switzerland ,ne democratic party at Its recent conven- . nf.w.lL T ;!r.T !f if ' 'crime of 1853.' Silver was practically de- and Belgium had In 1865 entered Into a tion at Chicago adopted a resolution In fa-" cneap labor also ( wnicn is true ), and II . , monetized by this act and the act of 1834. treaty, called the Latin union, to which vor of the free coinage of silver at the we would compete with them we must -.. itni.'- r-..ui: t... . "It Is certain that from 1801, when Mr. others became parties and by which the ratio of 16 parts of silver to 1 of a-old We adopt the monetary basis which ghres Ane KepUDllCan party Stands Jefferson became president, to .the close of coin "of each of these countries was re- know that in the United States and 'in all cheap labor No other reason is eve7 for honest money and the chance lrtX wk8tgolWty?opPs pttn'leXr' wls'st Tni world 30 mo" given, and how on earth any man who . ,, silver and all forms of paper money. As and finally abandoned, and gold became J 81iyer can be purchased by one ounce expects to work for a living for the next to earn It. . ..-"I have already stated, Mr. Jefferson In -the standard of values of those countries, or With the free coinage of silver, foiTrna nan t inAnnnd to cnte f titt t TAUT MTMT wv - 1808 suspended the coinage of silver dol- but in all silver was coined and largely gold will be demonetized.-: tew years can be induced to vote tor - -WILLIAM MCKINLEY, lare and It remained suspended for more used as a subsidiary coin, precisely as ln "Nothing can be more certain than that Bryan, Which means cheap money, cheap , ..,.. . than 30 years. -The aet of congress of 1834 the United States. the cheaper money only will circulate The labor and no protection, is one of the . ! ' ' . . . established gold as practicaUy the only "In anticipation of the resumption of united states- has thus far maintained lta mysteries of thePage. - V - Philadelphia Press. ? - "Why, 10 years ago, when the present Mr- Bryan s speeches from Lincoln to then 'gold bugs.' ters and half dollars for the resumption ?y exclusive monopoly of coinage and mayor of Portland was makine the first New York have each and all been pub-:. "Senator Hunter, ln 1853, during Pierce's of the fractional currency then in general Dy limiting the amount, but with free- coln- ''fiiit f hi. lit" m .., lished ln the Press. We trust all our administration, secured the passage of a use in our country. These new silver age of silver there could be no limitation. ngnt oi nis iiie to prevent tne immi- readera and particularly those who are law whick reduced the silver in the half coins gave great satisfaction. They were Silver bullion In every form will be pressed gration of .Chinese, that distinguished tnInkJ of. vot,ng for hlm have read Sf-JlV? IyA I? 'esSr' 'tJl 'JJIS to, unon the mlnto and with the mandatory gentleman insisted that the way to pro- them. They tell their own story of loose lnt?eeiSi8adniS Tin?Sed 'the tegti ftoduced "ws-bUl tor the fJef cnaie of duty of frea colnafe- ailf doI,ar will tect our labor was to keep our laborers as thinking, clap-trap appeal and Jaunty ref- tender t? 851 silver tors were iSt slhTer at the ratio of 16 to t on t he d 8000 flu e channels of circulation and the far above the "hordes of. Asia" as pos-. ere nee to the solemn responsibility of the mentioned and were practically excluded mand of the holders of silver bullion. Bold dollar will be hoarded or will be quoted sible, and to fight till " the last armed president as '!a hired man." The real from coinage or circulation yet now the Silver had then declined below that ratio, and sold as a commodity at about 194 cents -- foe expired." to expel the conditions Issue is whether if Bryan succeeds, 6,000,000 . democratic party, and -when i silver has One ounce of gold was worth more than of the silver coin. Sliver will stand as the wichTnabted themworksoTheaplyt wjth saving bank deposits. 2.000 vifueetk1.0 &S5i& Sffi 'ThTf If . ,t had become a eye80 b9 " but now the same eminent authoW - WwM.'SS ptuIiH "n tod" " " th law as It passed the house. woVTavTde! commercllU declares the way to compete s to com- to! ty Tald to oa olTUe '"When the republican party came Into ' JtfSl " pete: and insets that the -best thing we com, back to them in dollars as val- power In 1861. by the election of Mr. Lin- jT'nimenl wa"2 n?e on Si A roMTOAQf ' ' can do is to at once drop to tbe level of uabie. This is the rub of the campaign coin, lt had to face a formidable rebel- 5 Snr !nta J '.S A CONTRAST. theheathen Chinee" and beat him at will they or wUl they not? How much lion." Gold and silver alike were banished Se" SFnuSS Authorized Tlnd " - his own game. V;. light baa Mr. Bryan thrown on thte issiM. toon-einulatira. and farKdeemabto paper ojetod tha secretary 'the treasury to Thiscould have been done io years by nearly three-score speeches? - money of afl denominations from M cents hage from tlme t u u bullion' " Vc as eas'v t0 justtfv a ago by advising our workingmen to adopt " wTh W i'ilni ' k P0 lea. thaii ,W.00 . " US eaV JUSlljy a the inese sUndard of , living ; that - i Chicago Times-Herald. ; : SforVSAZ'm lliJtonfZt bounty US a protective tariff, would have settled it .without any further Tnere l3 not . flaw In the object lesson soon as practicable. In March, 1869. it SSUvSmSt ' . . . . , . trouble.- A steady diet then of rats and taught by tbe Mexican dollar plus 60 pledged the faith of the nation In pay- provided that any holder of the coin au- and tt ZS IttlbOSSlule to JUSttY1 rice would have enabled our workingmen cents' worth of merchandise.- We are on . ment in coin or Its equivalent of all bonds thorized by that act might deposit the . .J to compete in the markets of the world, the gold basis now, and the government ot the united States and to redeem the same with the treasurer of the United rrr r much Z free Inr wuS now! anl value' ttheren? sfaS Scat United States notes at the earliest practi-- State, in OTm. not -less than 0 and re- either. W.J. Bryan. should have been advocated for the sake dollar, both InMexico and in the United cable moment ln coin. ceive coin certificates therefor of not less of eonsisteneif for nther as.r States. Abolish the gold standard, take "In order to carry out this pledge It be- than $10 each, and that the coin deposited : ... .... of consistency, if for n other reason. - away the government credit on the gold came necessary to revise the various coin- ahomd be retataed to the treasury for the . ' , The 16 to l advocates may "fool a part standard, and you will have lnevery all- aKe !aWS of the United States. This was -Payment of the certificates on demand. I believe it IS a great - deal of the people," but it surely will not be ver dollar exactly the P"rtajf promptly and very carefully done by a . "This, bill, so amended passed both . theworVin'gm'en. The effort to fool the lU uf.SJS'So lcenoeTl Vfijiad In the treasury, department Jct "t'eaMd" :bettWt Pen- the Mllls Ot the farmers is based on the old threadbare Is on It. The boy orator may dub 63 while Mr. Boutwell was secretary. It was ? ,J5r rJS tnV ; tt "j .'' ' ' , . . - statement thtt the nrice of at-ricultnral cent? worth of silver a dollar, but that thoroughly considered by the experts of ties of redemption, and for that reason United States tO. the labor of ' z!S JPTf? t agricultural w,u nQt com1 anybody to give up 100 that department, and was printed and sub- waa vetoed by President Hayes, but b products is governed by tbe amount of cents' worth of anything ln exchange for mltted to all persons In the United 8tateam a law over his veto. Under Us pro- America, then tO Open the mints money in circulation. Even if this were his dub. The moment we go. on a free- wao vere supposed to be familiar with the visions the. United States purchased over ' r . true, ft. would be an argument against 'liuy' what one6 b'us nowf I f ' ' laws. The bill, containing 67 sec. 2WC ounce.f sUver at the cost of of the United States tO the silver free coinage, for. that would be surely halve our dollars we double our prices -Jorui io esvtu Xq poiuadmoaav. saon wibh.u wm . . .- .- followed b contraction of the currency3; 1 SlSS shprS Tli f th! Wrld' - and, therefore, less money upou which to fakhalf a aoUar toen whe'reJt ea5 welfand i t s paaje was SgJy'rSom- dined In market value, and at the present - WILLIAM, McKINLEY. base prices. , t - . one dollar worth 100 cent now. - , mended by bias. Tnte biB amltteti from the price the toaa to the government ,o tha - SffiSM; perstition, but on. account of the.- effort made to deceive, farmers with it, requires some attention. -If the proposition were you concede me popocrauc ciaim mat sit ver is not ' primary money," and admit im inatsu- and admit that prices are based on gold alone still the tact remains tnat every year sees an enormous increase of gold coin. So, if the "basis" for determining prices is steadily increased, how on earth can prices ever become lower any year than iney were me year uciurer- If this absurd hallucination were true, that prices are estimated by the amount of " primary money " in existence, and not hv the amount that is poms' to te not oy tne amouui uiai s going io oe age of silverwould be to increase prices. their ' selling price in proportion to the decreasinsr value of the monev thev took their pay in, and there would be no profit in it to anybody. - j t .1. t. ra ujiu.uS.. . . . , . It may be they will have to try to be tnonev. . But everything cannot be said in one- sneef h T am nnnnserl to the free roinatre speech. l am opposed to the tree coinage of silver by our country alone because I am a bimetalist, favoring the use of both gold and silver ' among the common people at an equal purchasing power - with each other, and no free coinage eountrv on earth has such a svstetn- we country on eartn nas sucn a system we have it now, and I believe in letting well enough alone. I am opposed to the free coinage of silver for the further rea- son that I have been a hard workingman all my life, and so far as I can see, there is no prospect for any change in my voca- are all with the laboring classes, and I see by study and observation that where "a crown of thorns is pressed down upon the brow of labor" it is always pressed harder and more hopelessly where there is free coinage of silver or fVee trade:- Mr. Bryan sUnds for these and. advo-: - r A-;A uu uu w ucuicvioiw oji vti , nvuiu, ronly 50 cents on the dollar. - 1 am in favor of the election of Major McKinley. because he represents the . great principle of protection to American industries, and tbe upbuilding of Amen-: can markets. - - - I favor his election because he is a typi- car-American statesman, who is 4fe, v souna-and-ffe7jrK.hile his opponent is nSafe, unsound and uSffkd ; .: iuiiuis an uy mc x uokc uctu a uiv. 4v. ,4- -a whatever .support 'I : can command, be- cause in no previous campaign has itso taln the conviction that the nearest an- fii ceV.tA,l (Jt thought or, A -Proach to an invariable standard is Its fully represented the best thought and establishment In, one metal, which metal aspirations of those of our people who shall compose exclusively the currency for constitute the foundation of American large payments.' enterprise and industry .- . V JackW -. Deeming the reasons I have given good IiZn ih rJ sSr S!mto and sufficient and carable of being main- whe tained and defended before any aSdience es of governunder demotic in the United States, I take pride i em- ffUTtKiS' AXdlmes' phasiring my allegiance to tte republi- S can party. . K than 6 per cent, directed the purchase of I believe the indorsement of the prin- ".1?? lJtSlDJZt ciples laid down in the Chicago platform fQT still gpract!cal!y toe onfy rull teSS and the election of its candidates would tender United States coin. At this time be industrial and financial suicide. With ..tto frtpgfig the the history of mankind . protesting iu - va nraetifjiiiv nurnlv HernXniHeH hi .earnest eloquence, it would be a burlesque "urKy 'the on statesmanship, an outrage on l?gic f1"-?' ofresent! and a travesty . on common sense. It altves- v would be unfair, unjust, unnecessary, un- -We propose' so far as these coins are" justifiable and unpatriotic, and may the concerned, to make sliver subservient to 4 j . r. V. ' thA niM iviln nt th. WalntanH THB TROTH ILLUMINATED. - . . - - ' , - - . . . . . ' A FLOOD OF LIGHT DISPELS DARK- HESS. chormnn'. F.mnn from . senator anerman s famous Speech at Columbus, Ohio, on the Financial . History Of the Country. . J ThiS ISSUe is thrUBt UDOn US bV the gratht'dem . Buver corned are commercial nations of the world as the oesl stanaaras oi vtuue, as lao measure oi v. a-n.ia, nr HMiro. nt .vorvthin tt Sow to mllmam the$A. 'Zt the two always wUl a difficult problem. r on Ln Ae United States, but in the civilized "it was one of the first Questions to oc- cupy the attention of the American states- ih. ontinn nt tho mnodtniinn then secretary of the treasury. The two distinguished statesman, who disagreed "At the time neither erold nor silver was found in Any considerable quantities In the 13 states then forming the Union. The Rev- 0iutlonary war had been conducted with papr money, which became worthless, and the coins of Spain, England and other coun- tries had been made a legal tender, and continued so for many years after the adoption of the constitution. When the new American coins were , d lt was found that the abraded and worthless coins of other countries filled the channels of circulation and the new and bright dollars of the United States .were f xported. This led to the discontinuance ' by President Jefferson of the coinage of tbe silver dollars, and after that date caUed by our , popullstic friends -the crime of 1806.' In the meantime France and other countries adopted the ratio of 15H ounces of silver as tbe equivalent of one of sold. To avoid these embarrassing f ff-,? J." .!.dopi.f ld .raa subrfdiaTv coin " in Tsai drTn adODted th- ratio of 18 onnnps nf flllvar In - - , - " . . . . e " tti??& m Zffi?. Slt.?". Wl;.,ch -V- J.Mn The iueat!on ?Pjt'Si--. fJ11 "T 8etUed, untU JV Stoea'- -,M'a,!wd-. '- tr1? 'LJnti , -Gold became the only American 'coin-in' L gold dol . he "earns it.-w circulation, and the avowed purpose of the whether you are going to cheat him with passage of ube'. law of 1834 was to make something else. That is the upshot of the - lhe standard.. This was declared -by - l'f.&JJW;, ' JSlffJfi Afl, y TZ "mlVa aollaraf wXvl5. 'Wl inthe repoVt- bill, who aald fight Jt over again and the same party Sttee ttlnkf mlg&2&& ftW --.ciai ojr w Btaiiucuti - or JJi'iOrm value. . Thev cannot ascertain banks or money dealers, and they enter- coins of the United States the silver dol- lar, precisely as was done In 1853, but pro- . yided for the coinage- of the fractional sparts of the dollar In accordance with the act of that year. "Thls bill, was pending In congress for three years, was carefully considered - In both houses and special attention was called to the omission of the 4124-graln silver dollar, which 'was never In the bill at any stage, and the reasons for this omission giveiu.lt was finally determined, at the urgent request of members from 018 Pacific coast,, to insert among the sll- m te d d cont.lnlnH. -42n Brains of standard silver, but this dollar was made, like the minor coins, a legal .tender for fa only. There was but one yea and nay vote on the bin, and that was on the proposition to repeal the charge made by the mint for the coinage Kill naunl nntn hruiRMt nnri Wama a Ion ox goia. J. votes, against its repeal, ine February 12, 1873, by practically a unani- moua vote of both Parties-and was espe- cially supported and voted for by the sen- " " "rhi has been called the 'crime of IMS' . crneSr the k-Zmk. Tct olms 8ued before ..ItJs strange that the very men who ?15Spor,and- Yv."11 colnae of jfJ1 ff??? rvm whnnw'df! l olu, are we very men wno now ae- .1 am opposea to any proposition, m whatever way it may come, that attempts "Anrii 1 iif74 h. aairi- v 'Does this congress mean now' to leave entirely out of view and discard forever a standard of value? And what but gold can be that standard? What other thing on garth possesses the requisite qualities? merca n is the moSt Soten" awn?? civilization. It Is gold that has lifted the nations from barbarism. It Is the com- mon denominator of values. It makes pos- Bible the classification of labor and the interchange of commodities. Gold has Intervened In bargaina made between men toithtaiw Huifi5n?t JiSt ev e.he uraVerkal f ant and secant of mankind. The value of gold Is ot affected by the stamp of the govern- stewart, of Ne da; on the' "am, subject, on the 12th of June. 1874. ' "Jd.g-P the laboring man and the producer te entitled to have his product and his labor measured by the same standard of the world that measures your national Shlm mons rire You require it from the producer. Tou tAi him aovn mnnov rltK won every time. wJiu nevci. Mtss uuiw- mioari rr.iH haTriv rho' come back to It On June 1, 1874, Senators Jones and Stewart and all the representatives and senators of the silver states were urgent and honest in. saying that gold was the best and only standard of value, but : they ann! ver In Nevada and other states reduced fg" t he tabUshedatto of 16 to r- TheywTnfed to pexLtKbts bas.staXe?S?ntookC fonl "a3" mt? sfirDUDutV ot the payment of sold on them, and this has been and Is eneral Pctlce in the silver , , . . . . .. acthe.Vof SeteTexoetSSSi the Pacific coast, conducted their business 2g?tJ2ti"'S j? Sttlnf nt.teS,NteYtkre?l8s5fvUe,rt Sor'wal used ln domestic, transactions, but we col- leied Sr fustoms duties in gold coin, y &rti l?ld Twa'no't BVJl tne money or ue WOriq. it was not -purchase of silver under this act amounts to over HOO.000,000. - "When congress met In December, 1889, there, was a strong: desire In both houses to utilize silver as legal tender money un- der conditions that would not demonetize gold. As the result of long discussions in - both houses, and after a conference be- tween them, a bill was passed July 14, 1890. by which the secretary of the treasury was directed to purchase front time to time sliver bullion to the aggregate of 4,500,000 ounces a month at the market nrlce and to issue In payment of such purchases treas- 1lrv nntM nt ,h TT-if a,,M whlh made a legal tender in payment of all .debts, public and private, and were re- deemable by the secretary of the treasury" In gold or silver coin at his discretion. "This measure, it was thouot, would arrest the decline In the market value of silyer and enable the secretary to main- .! .1 . ...f . , other at the ratio of 16 to 1. But the mar- ket value of silver continued to decline, The government purchased under the act oi juiy , nam, ies,uuu,uuu ounces at a cost t nunuiwi tuiL . u HI the prnent ot debts.ln!lnTuta further declared that the efforts of - the government should be steadily directed to bimetalism as win maintain at all times the toe establishment ' of such - a system -of equta Power of every dollar coined or is hv th. tt.hi ai.i 1. ,. ..i..t. vote, but It is I believe the emrfsaion nt oplnlon of a majority of the two great we ought to democrats and reoub- licans alike. We are all interested In hav-. ins a sound and stable currency founded upon gold and silver.. We cannot hy law fix the value of either metal or coinTor of any of the articles that enter Into the wants of life. ,,The sreat law of supply and demand af- fects the value as it does Iron, copper or sine. , All have fallen In market value by. . means of new discoveries and Improved methods of production. I have here a statement of thedir Juiy 2L 1895 showing the amount and eot ot BiiT buIllon purchased under the acts f V and 1890 and its value at the present market price, showing a shrinkage of over 8145,000.000. xnaMS tetter ot i fhe Mth Inst that th? L' amount and eost of " sHver buUion pur! chased under the act of February 28. 1878 and July 14 1890 was as follows- ... a Fine ounces. Cost, 5?t - .. " 168.674,682 53 155.931,002 25 H69.946.701 09 1M4.210 2(58 (M Worth at today's market price for sll- n q mnli. i Annio a aao 1 ' w,wo to. joss m purchase 145 871 952 21 " 'KespeotfuHy yours, R, E. PrestonTdl- t0r tne mInt' - - had W1 ,n etnaI elrculatlon. 525 7 Cn,t "ft? treasury departmentwluch Tl w?fi read- Amount of circulation July 1 1898 4 ..'GoM -coin: '.-... I 456128483 fard silver dollars"::: Z'X Subsidiary silver ........ 69,998.806 te--: xreasurv notes ant Till v 1i ifloa OC 917 vi "b.ti o Tr Juiy " A0W ??'!:!t nauonsi bank notes.. 216,331,927 . . Total .-. 1,60.626.200 "We had also at that date J684 519 981 In the treasury mostly gold and silver held for the redemption, of United States 'notes Gold coin .........U.803.340 378.S14.048 uob'Uvr 16.730,97 vtrrtfflcates ' nmm TreVJurTnotes. let July liTim Mm United States notes... 121229 6b8 Currency certificates, act June 8. J".-- ln wauonai Dank notes 10,668,620 Total ................ ... .. ttusam ; ..A , . - ZLSSSZt on aar with gold. an! they frveTtorc'lrcre of the' world without diminution of their purchas- tng power. Though silver bullion has fallep Searly e;balt lta former value, yet we have Used lt and maintainor! .llv.r win K. oofs- sr I ,