The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-01-19

argued that the silver dollar was elm
mated nom our money system unde
cover OF false pretenses. so,i that siive
had not failed in its functions as ,
specie basis any more LAn gold. 20
the entire trading and commercia
population Of the earth. ess, ,s50, ,Oo
more have silver alone ss their stand
ard OF value and transact sli their bus
,hess upon IL As q specie basis than
those who have gold alone Tor similal
purposes, and 542, 2D0, 900 more peopI.
Use silver alone than use gold and siI
ver both rs their metallic currency.
referring 10 the specie resumption
act OF January IA, 1875, he said an at.
tempt to force the resumption Of specie
pay ments with gold aud silver both, NJ
metallic basis, would be a cruel fail.
ure At this time. He speaks Of the
great shrinkage In values arising
from the shrink age In money in
circulation, ana said it was the imme-
diate cause of the general bankruptcy
and ruin which now fills the land. "If
the policy Of this government has been
to infiict the greatest misery upon the
greatett number It's success has been
complete"
He was not an inhstionist in any
sense that would disturb the true In
terests Of trade and commerce. "Dur.
ing the whole four years OF Is6S-'6i-
'o7 and 'e6, when the volume OF our
currency averaged over u thousand
millions, the business failures of the
entire country reached only twenty
one hundred and sixty-seyen, les In
number than occurred in any three
months OF the year just closed. Dur
ing the period which Is now stigma
tized as one OF initiation, the windows
of business houses were not darkened.
aud business men did not 20 - MOURN
ers about the streets the laborer did
not 70 home without bread 60 his vile
and children; helpless millions did not
cover and tremble st the spproaeh of
winter for the lack Of food aud shelter;
the public peace Was not broken by
riots in resistance TO starvation wages.
the courts were no; principally occu.
pied In enforcing collections, fore
closing mortgage, ordering sheriff =
sales or Ia Furnishing the drsiifu.e and
the outcast-these are some Of the
things that did not take place. Otkers
that did are equally striking. Good
wages, and good wages stimulated
every working mans muscle, every
business mans brains aud every power
Of machinery on TO the highest aud
most productive activity; hope and en-
cruragemen: were III every heart; now
farms were bought and cui
tivated; new manufactures were
established; new workshop. were
opened, new mines of iron, god aud
silver were sunk iuto the earth, whose
contents in return assisted il the glad
work Of q universal, individual aud
national prosperity"
lie argued that there IL not n dollar
to-day in the hands of the people, on
which they have not paid tax for
the privilege of having IL put in circu-
istiou by the government The ma
tiousl bank is the middleman between
the government and the people aud Is
enormously paid for doing what the
government ought directly 10 do Itself
He spoke Of the evils Of the National
banking system, and said IL the ma
tioBai banks were blessing, then our
public debt was n blessing, for the debt
supported the banks.
La concluding, he said those for
whom he spoke demanded, first, the
restoration Of the silver dollsr aud its
unlimited coinage, not fearing that Il
would become too pientiful aud that IL
be fall legal tender; second,
they demanded the repeal un-
of the specie re-
sumption act Of the lIth OF
January, 1875; third, they demanded
that the national banking system be
revoked, and circulaiipg medium
provided by the government r the
people, without taxing them Cor the
privilege Of obtaining 1t, aud they
asked the amount thus placed In ciruu-
lstion should tear q reason able and
judIeious proportion to the bus;nes.
Transaction and to the population OF
the United States; fourth. they de-
msnd the currency authorized and cir
culated on the authority Of the govern
ment shall be made legal tender In
payment Of all debts, public and pri-
vate, incinding all due, to the govern
mept; tfth, they demand that here
after the finsnciL Policy OF the coun-
try be framed permanently in theif
interest, that thsy shah nn; be di,-
criminated against Ia future iegisla
tion ss in past, aud that their prD-per-
ity and not the mere growth OF Income
to the retired capitalists shall be th.
DYimary duty of fhe Cov.-nrn.,f