The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1875-03-17


on a sounder basis. Those few months and
y year have passed and where is the revival
which they promiseds Methinks that by this
time they should begin to lose faith in their
gifto prophecy. But now they tell us, with
u simple faith in tho steadfast value Of
gold which would be sublime, were il not RI
diculous, u hat prices have only to fall about
ten per cent. more aud then we can use specie
as a basis for currency.
And now listen 10 the other side. Nine
years ago stoodain NeWtown hall and Ia pub
lie debate predicted that IL tho course then
commenced BY the government was persisted
in, it would bring untold diSastaf to the
American producer. | claim no cgedit, ladies'
and gentlemen, l was humble student at
the feet of those who have ever been the
truest prophets for America. Three years
ago stood here and told you, what indeed it
was not hard to predict that If the broad
stream Of profits, which low prices for pro-
ducts was then directing from the pockets of
the farmer to the luxuries and gewgaws or
worse, of town and cities was not checked,
if the distress which was then only felt by
farmers was not relieved, it would soon be
shared by all classes Of people. And now we
say to you that il the ADVICE Of the specie re-
sumptionsts is followed we have scarcely be-
gun to see the worst of this crisis. They tell
us to sell bonds abroad for gold. Who will
furnish the gold? The bank of England,
facetiously land property termed the Old
Lady Of Thread-needle Street, goes into high
Mysteries when a few pounds OF gold leaves
her vaults. The peasants Of France and
Germany hoard gold upon the least extra de-
mand. How then, in the name of common
sense, can there be made all immense demand
for hundreds of millions of gold without at
the same time u rise in its own value and a
further fail of the prices attempted to be
based upon it, of 10, 20 or 80 per cent &C.
cording to the whims or fancies Of the owlish
governments and ignorant peasants upon
whom it is made Reason and the expert
enoe OF E:;;y.;:;ds nrtien unite in aec!ar-
ing that such would be the effect. And with
q further fall of prices OF 30 or 40 or even 30
per cent where would be many business men
who now stand solidp One grand object at
last these biologists will have gained. When
industry is stagnant, when enterprise is des-
troyed, when labor sinks In despair, when
national honor totters towards fall, then;
while viewing the ghost of our departed great
ness, they can at least exclaim with Hamlet
!" There is no speculation In those eyes"
But the nation will not follow their advice
for two powerful reasons first, because it
cannot, and second because it will not. AL
ready the government revenues are sinking be-
low its expenditures. 1t il said that heavier
taxes are to be laid. But we farmers have an
old adage that you cannot draw blood from q
turnip. And how are you going to increase
the receipts from taxes while you decrease the
ability to bear taxationp Increased duties on
tea and coffee will be more than neutralized
by decreased consumption of these and other
foreign articles. In the meanwhile expenses
go on and the Treasurer win find sufficient
exercise for his ingenuity in procuring gold
to pay foreign interest, without troubling
feI,, q t.a4 4.
rcncy Sooner or later the governments will
be forced, as during the war, by its own
necessities, to rely upon the people and fur
nish them the tools BY which they can again
carve out their own fortunes and the nation, q
deliverancc. But still sooner such. co,,rsc
may be demanded by the people.
The Oranges of the West stand among the
leading powers of this nineteenth century in
educating the farmer and his family to a high
Oh and nobler part in the destinies of our
nation. And | pay them more readily this
passing tribute because, from scruples which
can better feel than explain, do not expect
to become a granger And their resolutions
from the district grange up to state conven-
tons have been in favor Of q reformed cur
rency. 1t is nothing new or intricate that
they ask. Simply that the government shall
furnish mot through National Banks, there Is
no need Of u second mill which takes big toll
and makes the fiour poorer sufficient cur
rency TO check the disastrous downfall in
prices; and that this currency shall be regulat-
cd and made uniform In value, in COMMON
periods, by 1896 per cent. convertible bonds.
Political conventions of both parties through-
out the West and South have followed the
Oranges in their resolutions: And now the
Pennsylvania State Grange places itself
squarely on the side Of national currency.
But who could doubt that when the question
came fairly before them the farmers Of Penn
sylvania would, as Id tile old tariff days; place
themselves side by side with tile manufac-
ttrers OF the Keystone State. And these as
with One voice have demanded this far. great
or currency reform which means protection
to American industry, not merely from tile
over grown and over grasping capitalists Of
other countries, but also from those Of our
own. And as s'Pennsylvania, so goes the
Union