Greencastle Star Press, Greencastle, Putnam County, 22 August 1896 — Page 2

1/2;#$®®

A SOUTH

OMS WAT TIOKBTS AMS SOLO

At 15 Cents a Mile

mOM - HI NORTH OVBN THB

louievillb a nashvillb n. r. To individuals on the First Tucsdnv, and to parties of seven 01 more on the Third Tuesday of each month, to nearly all noints in ftie S >mh ; and on special dates ^excursion Tickets are sold at a little more than One Fare for the round trip. For full information write to

]. K. E1D0ELY, J. W. Pass. A2EDI, Cllcaga, III. C. P. ATMOEE, Ben'l Pass. A2t., LomsTille, Ey.

SENT FREE.

Write for County Map of the South to either of the above named gentlemen,

or to P. Sid Joses, Pass. Agent, in charge of Immigration, Birmingham, Ala.

OFFICIALLY NOTIFIED

people. Abraham T.tncoln In his message sent to congress in December, ISCil. sai.l: "No men Uring are more worthy to t>e

1 trusted than those who toll up from pov-

erty; none less inclined to take or touch

Bryan and Scwall Apprised of Their l ‘ u >-’ ht i which they have no. honestly

Nomination.

MADISON SQUARE MEETING.

I The Nominee Spoke for Two Hours to 580,000 Ticket Holders In mi Argumentative Vein, and Afterward Addressed the Less Fortunate from a Hotel Italcony—Details of the A flair.

ha 11. i> a r rim:- tabl/;• BIG FOUR.

EAST.

No. 2, Ex. Sunday “ 4, Ex. .Sunday “ s. Daily “ is, Daily.. “ :46, Daily 22 Sunday only No. 85, Daily.. •• 9, Daily “ 11, Daily “ 5, Ex. Sunday *• 8, Ex. >1:1:.; iy 2i, Sunday only..

.. 8:12 a m . I0:f' » a m .. 4:15 p m .. 5:21 p m ... 2:59 a m ...11:16 a m

No. 86, Night Express, hau;^ through car for Cincinnati, New York and Boston. No.

..12:32 a iq .. 8:4« a m .12:41 a m . 3:55 p m ,. 7:0d p in 6.32 p m

cars

2

connects with trains for Michigan divisions via Anderson and to Cincinnati. No. 4 connects with L.E.&W. and with Peoria & C'hciago trains west. No. IS. Knickerbocker, hauls through sle pens for Washington, D. C., via C. & 0., ftud through sleepers for New York via N. Y. C. K. K.; also dining car. New coaches illuminated with gas on all trains. ' F. P. HUESTI8, Agt.

VAMDAL5A LIME.

Trains leave Greencas-

In effect Aug 2,1896.

tie, Ii d.,

FOR THE WEST. No. 5, Daily 9:05 am, for St. Loais. “ 21, Daily 1:40 pm, 4 4 44 •• 7, Daily 12:26 am, “ 41 44 11, Daily.. 8:03pm, 44 St. Louis. ,, 3, Ex. Sun..... 5.18 p m, 44 Terre Haute.

: .1 ::i, **

FOR THE EAST. No. 20, Daily.1:10 pm, tor Indianapolis. “ 8, Daily 8:32 p in, * 4 “ 44 2, Daily 6:03 pm, 4 “ “ 6, Daily.. 4:30 a m, 44 44 “ 12, Daily 12:15 p m, 44 44 44 4, Ex. Sun.... 8:45 a m, 4 4 44 For complete Time Card, giving nil trains and stations, and for full information as to rates, through cars, etc., address J b. DOWLING, Agent, Greencastle, Ind. r E. A. Ford,

ral

General Passenger Agt., St. Louis, Mo.

THE FAVORITE

GO lOUWVIUg. Wcw AlSAKY eChicaso RY.c0. C3

The direct line between Chicago, Michigan City, Louisville

And all points North and South. The only line to the famous health resorts,

WEST BADEN AND FRENCH LICK SPRINGS, The Carlsbad of America.

Complete Pullman Equipment. FRANK J. HEED, G. P. A., Chicago.

No.

Time Card, July 1, 1896;

NORTH BOUND.

C, Chicago Mail “ **, “ Express ...... ti|, Local Freight

SOUTH BOUND.

No. 3*, Southeru Mail “ .V, “ Express

“ 43t, Local.,

‘Daily.

... 1:13 a m ...12:17 p m ...11:10 a m

2:10 a m 2:22 p in 12:17 p m

tbaiiy excejit Sunday. J.'A. MICHAEL, Agent.

To Irtish i jt Trust re’s Mot ice. I will be at my office, located in my house

at Oakalla, on Saturday of each week, to attend to such of my official duties as can be

transacted on that day—the business of issu ing orders and receiving vouchers will L

especially attended to on these days. 17tf O. F. Lkwib, Trustee.

Township 'I. •U r’s Motice. I will attend to the bu- "ss of my office on

Tuesday and Friday of e.uh week, at my office, in'the store of James 1 idges, at Fill-

more, and on these days w . I issue lorders and receive vouchers, and at no other time. tfl7 David M. Chadd, Trustee.

turned

I repent hU lutimm eo with unqualified approval ami join with him in the warning he added, namely: "Let them bewaru of tturrunderituf a political power which they already possess and which power, if surrendered, will surely he used to close the doors of advancement against such as they ami to fix new disabilities and burdens upon them, till all ot liberty shall bo

I lost."

Those who daily follow the injunction, "In the sweat of thy face shall thou eat | bread,” are now, ns they ever have been, the bulwark of law and order—the source of oar nation's greatness in time of peace and its surest defenders in time of war. Hut I have only read a part of Jackson's utterances—let me give you his conclusion: "Hut when the laws undertake to add to those natural and just advantages nrtifi cial distinctions—to grant titles, gratuities ami exclusive privileges—to make the

, ,, „ , I rich richer and the powerful more powerremarkable tour of the presideutal can- f u l-the humble members of society-the

New York, Aug. 18.—William Jennings Bryan of Nebraska and Arthur Sewall of Maine w ere bust night formally notified of their nominations at a meeting in the big Madison Square Garden. It was a notable political event and a remarkable climax to the

Trustee’s Xotice. t will attend to my official duties as Trustee of Washington township on the second, fourth and fifth Saturdays of each month at Ueelsville, and on Wednesday of each week at my residence. 19tf 8. G. Bond.

For Sale.

A good stock or grain farm in Floyd town-' ship three miles north of Fillmore for sale consisting of SO acres, some good bottom land, upland of good quality, in good state of cultivation, good supply of white oak timber, sugar orchard of 160 trees, plenty of never failing water, buildings in good condition, orchard of both apple and small fruits, a No. 1 good cellar. Price reasonable small amount down, balance on long payments. 3mll Isaac Oaktwbioht, Fillmore, Indiana.

ditlate across half the continent. An army of unnumbered thousands filled the streets for several squares about the building in the vain hope of securing admission. In the hall, which was a fiery furnace, Mr. Bryan spoke to 20,000 ticket holders for nearly two hours. His address dealt almost entirely with the financial question; was more argumentative and less eloquent than his historic Chicago speech which won for him a presidential nomination, and only in a closing appeal to the citizens of New York did he speak in the strain in which ho had captured the Chicago convention. He was surrounded by many of the silver lenders, some of \vh >m had been rival aspirants for his place on the ticket. The Democratic leaders of New York, with the exception of former State Treasurer Dauforth. who presided over the meeting, and Congressman William Sulzer, who organized the first Bryan club in

the state, were absent.

Mr. Sewall spoke briefly after Bryan and was heartily cheered. Governor Stone of Missouri delivered the uotiiication speech, which declared that the work of the Chicago convention had been tho work of the plain people and that Bryan was their candidate. After the notification meeting Mr. Bryan was driven to the Hotel Bartholdi, facing Madison Square, where bespoke again, standing on a balcony with Mr. Sewall and Mrs. Bryan, who shared with her husband all the honors and attention of the day. This second audience, standing in tho streets, seemed to be composed mostly of workingmen, and these Mr. Bryan exhorted to support the cause of free silver with one of the most effective open air speeches which he has made in the campaign. Lesser lights of the party and single tax men held six overflow meetings on the streets around Madison Square and made speeches during the garden meeting, so that the opening of the Democratic campaign in the city made an exceedingly lively night. Only one person was reported injured— a marvelous fact as the enormous crowd jammed tin streets for many blocks. Mr. Bryan's address was as follows: I shall, at a future day and In a formal letter,accept the nomination which is now tendered by the notifies: }>n committee, and I shall at that time t'ouch upon the issues presented by the platform. It is fitting, however, that at this time, in the presence of these here assembled, I speak at length in regard to the campaign upon which we are now entering. We do not underestimate the forces arrayed against us, nor are we unmindful of the importance of the struggle in which we are engaged: but relying for success upon the righteousness of our cause, we shall defend with all possible vigor the positions taken by our party. We.ire not surprised that some of our opponents, in the absence of better argnmenj, resort to abusive epithets, but they may rust assured that no language, however violent, no invectives, however vehement, will lead us to depart a single hair's breadth from tho course marked out by the national convention. The citizen, either public or private, who assails the character and questions the patriotism of the delegates assembled in the Chicago convention assails the char'acter and questions the patriotism of the millions who have arrayed themselves under the banner there raised. It has been charged by men standing high In business and political circles that our platform is a menace to private security and public safety; anil it has been asserted that those whom 1 have the honor for the time being to represent not only meditate an attack upon the rights of property hut are the foes of social order and national honor. Those who stand upon the Chicago platform are prepared to make known and to defend every motive which influences them, every purpose which animates them and every hope which inspires them. They understand the genius of our institutions, they are staunch supporters of the form of government under which we live and they build their faith upon foundations laid by the fathers. Andrew Jackson has stated with admirable clearness and with an emphasis which cannot be surpassed—both the duty and the sphere of government. He said: "Distinctions in society will always exist under every just government. Equality of talents, of education or of wealth cannot be produced by human institutions. In the full enjoyment of the gifts of heaven and the fruits of superior Industry, economy and virtue, every nmu is equally entitled to protection by law.” f JWe yield to none in our devotion to the doctrine just enunciated. Uur campaign has not for its object the reconstruction of society. We cannot insure to the vicious the trails of n virtuous life; we would not Invade the homo of the provident in order to supply the wants of the spendthrift; we do not propose to transfer the rewards of industry to the lap of indolence. Property is and will remain the stimulus to endeavor and th’e compensation for toil. We believe, as asserted in the declaration of independence, that all men are created equal. But that doss not mean that all 4 men tire or can have equal possessions, in possessions or merit: it means that all shall stand equal before the law and that government officials shall not in making, construing or enforcing the law discriminate between citizens. I assert that property rights, as well as the rights of persons, are safe in the hands of the common

farmers, mechanics and the day laborers —who have neitherthe timenor themeans of securing like favors for themselves have a right to complain of the injustice of their government.” Those who support the Chicago platform Indorse all of the quotations from Jackson—the latter part as well

as tho former part.

We are not surprised to find arrayed against us those who are the beneficiaries of government favoritism—they have read our platform. Nor are we surprised to learn that we must in this campaign fare the hostility of those who find a pecuniary advantage in advocating the doctrines of non-interference when great aggregations of wealth are trespassing upon the rights of individuals. We welcome such opposition—it is the highest indorsement which could be bestowed upon us. We are content to have the uo-operution of those who desire to have the government administered without fear or favor. It is not the wish of the general public that trusts should spring into existence and override the weaker members of society; it is not the wish of the general public that these trusts should destroy competition and then collect such t ix ns they will from those who are at their mercy; nor is it the wish of the general public that the instrumentalities of government have been so often prostituted to purposes of private gain. Those who stand upon the Chicago platform believe that the government should not only avoid wrong doing, but that it should also prevent wrong doing; and they believe that the law should be enforced alike against ail enemies of the public weal. They do not excuse petit larceny, but they declare that grand larceny is equally a crime; they do not defend the occupation of the highwayman who robs the unsuspecting traveler, but they include among the transgressors those who, through tho more polite and less hazardous means of legislation, appropriate to their own use the proceeds of

the toil of others.

The commandment, “thou shall not steal,” thundered from Sinai anil reiterated in the legislation of all nations, is no respecter of persons. It must be applied to the great as well as the small; to the strong as well as the weak; to the corporate person created by law as well as to the person of flesh and blood created by the Almighty. No government is worthy of the name which is not able to protect from every arm uplifted for bis injury the humblest citizen who lives beneath the ting. It follows as a necessary conclusion that vicious legislation must be remedied by the people who suffer from the effects of such legislation and not by those who en-

joy its benefits.

The Chicago platform has been condemned by some because it dissents from an opinion rendered by the supreme court declaring the income tax law unconstitutional. Our critics even go so ftu as to apply the name anarchist to those who stand upon that plank of the platform. It must be remembered that we expressly recognize the binding force of that decision so long as it stands as a part of the law of the land. There is in the platform no suggestion of an attempt to dispute the authority of the supreme court. The party is simply pledged to use "all the constitutional power which remaiusafter that decision or which may come from its reversal by the court as it may hereafter be constituted.” Is there any disloyalty in that pledge'For 100 years the supreme court of the United States has sustained the principle which underlies the income tax. Some 'Jo years ago this same court sustained without a dissenting voice an income tax law almost identical with the one recently overthrown; has not a future court as much right to return to the judicial prece dents ot a century as the present court has to depart from? When courts allow rehenrings they admit that error is possible; the late decision against the income tax was rendered by a majority of one after a

rehearing.

While the money question overshadows all other questions in importance, 1 desire it distinctly understood that I shall offer no apology for the income tax plank of ttie Chicago platform. The last income tax law sought to apportion the burdens of government more equitably among those who enjoy the protection of the government. At present the expenses of the leiieral government, collected through internal revenue taxes and import duties, are especially burdensome upon the poorer classes of society. A law which collects from some citizens more than their share of the taxes and collects from other citizens less than their share, is simply an indirect means of transferring one man’s property to another man’s pocket, and while the process may be quite satisfactory to the men who escape just taxation, it cun never be satisfactory to those who are overburdened. The last income tax law, with its exemption provisions, when considered in connection with other methods of taxation in force, was not unjust to the possessors of large incomes, because they were not compelled to pay a total federal tax greater than their share. The income tax is not new, nor is it based upon hostility to the rich. The system is employed in several of the most important nations of Europe, and every income tax law now upon the statute books in any land, so far as I have been able to ascertain, contains an exemption clause. While tho collection of an iucptnv tax in other countries does not make it necessary for this nation to adopt the system, yet it ought to moderate the language of those who denounce the income tux as an assault upon the well -to-

do.

Not only shall I refuse to apologize for the advocacy of an income tax law by the national convention, but I shall also refuse to apologize for the exercise by it of the right to dissent from a decision of the supreme court. In a government like ours every public official is a public servant, u bother he holds office by election or

by appointment, whether he serves for a term of years or during good behavior, and the people have a right to criticise his official H'-ts “Confidence Is everywhere the parent of despotism; free government exists in jealousy anil not in confidence”— these are the words of Thomas Jefferson, and I submit that they present a truer conception of popular government than entertained by those who would prohibit an unfavorable comment upon a court decision. Truth v 11 vindicate itself: only error fears fr.-e spe,.-h. No public official who conscientiously discharges his duty a- lie sees it will desire to deny to those whom he serves the right to discuss his official conduct. Now let me ask you to consider the paramount question of this campaign— the money question It is scarcely necessary to defend the principle of bimetallism. No national party dtiring the entire history of the United States lias ever declared against it an 1 no party in this campaign has had the temerity to oppose it. Three parties, the Democratic, Populist and Sit ver parties, have not only declared for bimetallism, but have outlined the specitlu legislation necessary to restore silver to its ancient position by the side of gold The liepubliean platform expressly de-

' i t*ti) il i • vf

elan s that bimeta lism Is de arable when it pledges the Republican party to aid in se •tiring it as soon as the assistance of certain foreign nations can be obtained. Those who represented the minority sentiment in the Chicago convention oppos al the free coinage of silver by^he United States by independent action on tha ground that in their judgment it “would retard or entirely prevent the establishment of international blmetallisT, to which the efforts of the government

should be steadily directed.”

When they asserted that the efforts of the government should be steadily directed toward the establishment of international bimetallism, they condemned monometal lism. The gold standard lias been weighed in the balance and found wanting. Take from it the powerful support of the money owning and the money changing classes and it cannot stand for one day in any nation in the world. It w.m fastened upon the United States without discussion before the people, and its friends have never yet been willing to risk a verdict before the voters upon that issue. There can be no sympathy or co-operation between the advocates of a universal gold standard and the advocates of bimetallism. Between bimetallism—whether independent or international—and the gold standard there

is an impassable gulf.

Is this quadrennial agitation in favor of international bimetallism conducted in good faith, or do our opponents really desire to maintain the gold standard permanently? Are they willing to confess the superiority of a double standard when joined in by the leading nations of the world, or do they still insist that gold is the only metal suitable for standard money

among civilized nations?

If they are in fact desirous of securing bimetallism we may expect them to point out the evils of n gold standard and defend bimetallism as a system. If, on the other hand, they are bending their energies toward the permane.it establishment of a gold standard under cover of ndeelaratioii in favor of international bimetallism, I am justified in suggesting that honest money cannot h • expected at the hands of those who deal dishonestly with the American people. What is the test of honesty in money? It must certainly be found in the purchasing power of the dollar. An absolutely honest dollar would not vary in its general purchasing power; it would be absolutely stable when measured by average prices. A dollar which increases in purchasing power is just as dishonest as a dollar which decreases in purchasing power. Professor I.uughlin, now of the University of Chicago, and one of the highest gold standard authorities, In ids work on bimetallism not only admits that gold does not remain absolutely stable in value, but expressly asserts “that there is no such tiling as a standard of value for future payments, either in gold or silver, which remains absolutely invariable.” He even suggests that a multiple standard, wherein the unit is “1 ased upon the selling price of a number of articles of general consumption,"would be a more just standard than either gold or silver or both, because "u long time contract would thereby be paid at its maturity by the same purchasing power as was given in the beginning.’ It cannot he successfully claimed that inoi.onn t ill sin or bi melt 1 ism,or any) ithcr system, gives an absolutely just standard of value. Utider both monometallism and bimetallism the government fixes the weight and fineness of the dollar, invests it with legal tender qualities and then opens the mints to its unrestricted coinage, leaving the purchasing power of the dollar to be determined by the number of dollars. Bimetallism is better than monometallism, not became it gives tts a perfect dollar—that is a dollar absolutely unvarying in its general purchasing power— but because it makes a nearer approach to stability, to honesty, to justice, than a gold standard possibly can. Prior to 1873, when there were enough open mints to permit all the gold and silver available for coinage to find entrance into the world’s volume of standard money, tho United States might have maintained a gold standard with less injury to the people of this country: but now, when each step toward a universal gold standard enhancei the purchasing power of gold, depresses prices and transfers to the pockets of the creditor class tin unearned increment, the influence of this great nation must bo thrown upon the side of gold unless we are prepared to accept the natural and legitimate consequence of such an act. Any legislation which lessens the world’s stock of standard money increases the ox changeable value of the dollar; therefore, the crusade against silver must inevitably raise the purchasing power of money and lower the money value of all other forms

of property.

Our opponents sometimes admit that it was a mistake to demonetize silver, but insist Unit we should submit to present conditions rather than return to the bimetallic system. They err in supposing that we have reached the end of the evil results of a gold standard. We have not reached the end. The injury is a continuing one, and no person can say how long the world is to suffer from the attempt to make gold the only standard money. The same influences which are now operating to destroy silver in the United States will, if successful here, b" turned against other silver using countries, and each new convert to the gold standard will add to the general distress. So long as the scramble for gold continues, prices must fall, and a general fall in prices is but another definition of hard times. Our opponents, while claiming entire disinterestedness for themselves, have appealed to the selfishness of nearly every class of people. Recognizing tho disposition of the individual voter to consider tho effect of any proposed legislation upon himself, we present to the American people the financial policy out

lined In the Chicago platform, believing that it will result in the greatest good to

the greatest number.

The farmers are opposed to the gold tain persons whoare pecuniarily benefli standard i.i-cause they bav, felt llseffi rts. b' ■ '-'"’ l stai.Jard iiiri wh" favor it, Bince they aell at wholesale and buy at from a desire to trespass upon the ri| retail they have lost more than they have of others, but because the cireumsta gained hy falling prices, and, besides this. ] which surround them bind them to thi they have found that certain fixed charges feet of the gold standard upon others. I.uvo lait iille:. m; nil. I'nxes have let '! 1.1 i 1 a -you 11, i m-id'-r the language been perceptibly decreased, although it two gentlemen whoie long pnbllo requires more of farm products now than and high standing in the party to whlo formerl to secure the money with which they belong will protect thorn from H to pay taxe Debts have not fallen. The verse criticism by our opponents. In IHt,

farmer who owed #1,000 is still com ( Senator Sherman said:

polled to pay #1,(..»>, although it may | “The contraction of the currency Is a fa

Iy lobtain aon distressing operation than senatod

the dollar w ith which to pay the debt, suppose. Our own and other nations ha\J Railroad rates have not been reduced to gone through that operation before. It i keep pace w ith falling pric. s. and besides not possible to take that voyage without these items there are many more The the sorest distress. To every person, ex farmer has thus tound complaint against ccpt a capitalist out of debt, or a salariee the gold standard. | ‘dfieer or annuitant, it is a pe; od of loss. Tlie wage-earners have been injured by danger, lassitude of trade, fail of wages' a gold standard, and have express.-dthein- ■ suspension of enterprise,-bankruptcy an selves upon the subject with great einphti disaster. It means ruin to all dealer sis. In February, 1MQ, a petition asking whose debts are twice their business cap: for the immediate restoration of the free 1,11 though one-third less than their actual and unlimited coinage of gold and silver property, it means the fall of all agrlcu|

at lb to 1 was signed by the representatives tural production without any great reduc lit-* nil .... v.l«* .11 i. ...i;. i..i. — . in tit t;tY»*si \Vlu»t. nrnil#»nf. mu.n w/inL

ganizations and presented to congress. ! dare to build a house, a railroad, a facto: Wage earners know that while a gold [ ur R w ith this certain fact before bin standard raises the .purchasing power of 1 As I have said before, the salaried off the dollar it also makes it more difficult cer referred to must he the man wild to obtain possession of the dollar: they salary depends upon business couditioV. know that employment is less permanent. M'lien Mr. Sherman describes contraction^, loss of work more probable and re-em the currency as disastrous to all th ployment less certain. A gold standard people except the capitalist out of deb encouragi'stbe hoarding of money because and those who stand in a position similai money is rising; it also discourages enter t° his, he is stating a truth w hich must b prise and p u uly/e s industry. < in the other apparent toewry person who will giv li.tiid. the lestontliim of bimetallism will the mntterc ireful eemsidcrathm. Mr. Sbet , discourage hoarding, because when prices man was at the time speaking ol the ooa [j, are steady or rising money cannot afford traction of the volume of paper currency to lie idle in the bank vaults. I'lie farmers but the priin-iple which he set forth ap and wage-earners together constitute a plies it there is a contraction of the vol considerable majority of the people of the nine of the standard money of the world . country. Why should their interests be -'If- Rlaine discussed the same principh ' ! ignored in considering llnanciul legisla- iu connection with the demonetization o wi tion? A monetary system which is peon- silwr. Speaking in the house of repre niarily advantageous to a few syndicates sentatives on Feb. 7. 1873, he said: "I be , , has far less to ennimend it than u system lieve the struggle.now going on in thi: r *'i w hich would give hope and encourage- country and other countries for a singh ■] meut to those who create the nation's gold standard would, if successful, prq „ we.ulth. disaster la and t hrougn * Our opponents have made a special sp ! out the commercial world. The destrwj peal to those who hold lire anti life insur- tion of silver as money and the establish

*

ance policies, but these policyholders know that since the total premiums received exceeil the total losses paid a rising standard

ing of gold as the sole unit of value mus have a ruinous effect on all forms of prop erty, except those invested which yield i

must be of more benefit to the companies ! fixed return in money. These would b| than to the policyholder- Much solicitude enormously enhanced in value and wotfu

has been expressed by our opponents for the depositors in savings banks. They constantly parade before these depositors the advantages of a gold standard. Hut these appeals will be in vain, because savings bank depositors know that under a gold standard there is increasing danger that they will lose their deposits because of the inability of the banks to collect their assets; and they still further know that if the gold standard is to continue indefinitely they may be compelled to withdraw their deposits in order to pay living expenses. It is only necessary to note the increasing number of failures in order to know that a gold standard is ruinous to merchants and manufacturers. These business men do not make their profits from the people from whom they borrow money, but from the people to whom they sell their goods. If the people cannot buy, retailers cannot sell, and if retailers cannot sell, wholesale merchants and manufacturers must go into bankruptcy. Those who hold, as a permanent investment, the stock of railroads and of other enterprises—I do not include those who speculate iu stocks or use stock holdings as a means of obtaining an inside advantage in construction contracts—are injured by a gold standard. The rising dollar destroys the earning (lower of these enterprises without reducing their liabilities, and as dividends cannot be paid until salaries and fixed charges have been satisfied, the stockholders must bear the burden of hard times. Salaries in business oc upations depend upon business conditions and the gold standard both lessens tin; amount and threatens the permanency of such salaries. Official salaries, exc-pt the salaries of those who hold office for life, must in the long run be adjusted to the conditions of those who pay the taxes, and if the present financial policy continues we must expect the contest between the taxpayer and the taxeater to increase in bitterness. The professional classes, in the main, derive their support from the producing classes and can only enjoy prosperity when there is prosperity among those who create wealth. I have not attempted to describe the effect of t he gold standard upon all classes —in fact, 1 have only had time to mention a few—but each person will he able to apply the prim iples stated to his own occu-

pation.

It must also be remembered that it is the desire of people generally to convert their earnings into real or p t •! property. This being true, In eons; ..i ; any temporary advar.t tge which may come from a system uutler which the dollar rises in its purchasing power, it must not be forgotten that the dollar cannot buy more then formerly, unless property sells for less than formerly. Hence it will be seen that a large portion of those who may find some pecuniary advantage in a gold stand I'ill fit wf i V* AAf* ti nt tlxiaio nvswi.-wl

gain a disproportionate and unfair advan

tuge over every other species of property.’ It is strange that the “holders of invest

1

td.

ments which yi id a fixed return it money can n id the destruction of silve: with complacency:” We may not expec the holders ol other forms of property t( .u protest against giving to money a "dis , I proportionate and unfair advantage ove: '* every other species of property?” If tin relatively few. whose wealth consist, barg.-ly iu f ; • .d investments, have a righ . to use the ballot to enhance the value o rjI

-nl

u

their investments, have not the rest of thi ' j

aid will discover that their losses exceed

their gains.

It is sometimes asserted by our opponents that a bank belongs to the debtor class, but this is not true of any solvent hank. Every statement published by a solvent bank shows that the assets exceed the liabilities. That is to say, while the bank owes a large amount of money to its depositors, it not only has enough on hand In money and notes to pay its depositors, but in addition thereto has enough to cover its capital and surplus. When the dollar is rising In value slowly a bank may, by making short time loans and taking good security, avoid loss; but when prices are falling rapidly the bank is apt to lose more because of bad debts than it can gain by the increase in the purchasing power of its capital and surplus.

people the right to use the ballot to pit tect themselves from the disastrous con sequences of a rising standard. The pen pie who must purchase money with thi pnducts of toil stand in a pusition en tirely different from the position of thost who own money or receive a fixed income The well lieing of the nation—aye, of civ ili/.utinn its. if- depends upon the pros perity of the mass s What shall it profit us to have a dollar which grows mort valuable every day if such a dollar lowers the standard of civilization and brings distress to the people- What shall it profit us if in trying to raise our credit h> increasing the purchasing power of out dollar we destroy our ability to pay the debts already contracted by lowering the purchasing power of the product will wbichthese debts must be paid? If it is asserted that the gold standard will enable us to borrow more money from abroad, I reply that the restoration of bimetallism will restore the parity between money and property and tints permit an era of prosperity which will enable the American people to become loaners of money instead of perpetual borrowers. Even if we desire to borrow, how long can We continue borrowing under a system which, by lowering the value of property. Weakens t:.r luundation upon which credit

rests.

Even the holders of fixed investments, though they gain an advantage from tbtJ appreciation on the dollar, certainly set tlie injustice of the legislation which gives them this advantagi over those whoso incomesdepoud upon the value of property and products. If the holders of fixed investments will not listen to arguments based upon justice and equity, lappeal to them to consida the Interest of posterity. We do not livl for ourselves alone; our labor, our self de ninl and our anxious' care—all these are for those who are to come after us as much as for ourselves, but we cannot protect our children beyond the period of our lives. Let those who are now reaping advantage from a vicious financial system remember that in the years to come their own chil dren and their children’s children may through the operation of this same sys tern, be made to pay tribute to the descendants of those who are wronged today. As against the maintenance of a gold standard, either permanently or ttnl^l other nations can be unite 1 for its ovoriln• • e . the Chicago platform prt sente't, clear and empl itlc demand for the immas diate restoration of the free and unlimited' coinage of silver and gold at the present legal ratio of Itt to 1 without waiting for the aid or consent of any other nation. We are net asking that a new experiment be tried: we are insisting upon a return to a financial policy approved by the experience of history and supported by all the prominent statesmen of our nation from the days of the first president down to 137S When we ask that our mints be opened to the free and unlimited coinage of silver into full legal tender money, we are simply asking that the same mint privileges he accorded to silver that are now accorded to gold. When we ask that this coinage be at the ratio of IB to 1 we

It must be admitted, however, that some simply ask that our gold coins and the bankers combine the business of a bond standard silver dollar—which ha it rebroker with the ordinary banking bus! meinbeml, contains the same amount of mss. and these may make enough in the ; pure silver: - the first silver dollar coined negotiation of loans to offset the losses at our minis—retain their present weight

arising in legitimate banning business. As Hint fineness.

long as human nature remains as it i-. j The theoretical advantage of the M-j there will always be danger that, unless J metallii tystem Is best itat< 1 by a Eurtffl

r**Htrained by public opinion or le^al on pean writer on political economy who aug-|

actuient, those who see a pecuniary prollt ! geata tho following illustration: for themselves in a certain condition may | ”A river fed from two - ... ' morel yield to the temptation to bring about that uniform in volume that a river fed froml condition. Jefferson has stated that one one source—the reason being that when I of the main duties of government is to ' one of tho feeders is swollen the other may! prevent men from Injuring one another, , be low; whereas a river which has but onii' and never was that duty more important feeder must rise or fall with that feeder.

than it is today. It is not strange that those who have made a profit by furnishing gold to the govrenment in the hour of its extremity favor a financial policy which

So in the case of bimetallism; the volume of metallic money receives contributions from both the gold and silver mines, and therefore varies less; and the dollar, rest-'

will keep the government dependent upon j ng up(>n two metals, is less changeable In them. I believe, however, that I speak the its purchasing power than the dollar, sentiment of the vast majority of people ... . , , of the Ulifted States when I say that a wise " ‘ icl ‘ r, !,ts u P on , 1 I, 1 10 1 lnet <J 1 onl > , financial policy administered In behalf of If there are two kinds of moneytheopull Uib people would make our government tion must rest either with the debtor or independent of any combination of finan with the creditor. Assuming that their clers, foreign or domestic. rights are equal, we must look attheinLet me say a word now In regard to cer terests of society in general in order to

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