The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1878-05-02
n. INGALLS,, OF KANSAS.


urely there Is q VEN for the silver and
for gold where they fine IL. JOB %, 1.
rom this "text" Mr. Iugalls deliy
Ted q financial sermon" in the Sen
Ate few days ago as remarkable for
COED sense and logical acumen as
its conciseness of expression and
ztit:stical force. His first assertion
was, that "ths financial system of the
country has suffered more from its
doctors than its diseases, and that it
has had drugs instead of nu-
|triment." This reminded us that
DIR. G. w. Jones, of Bastrop, proposes
|sven now to administer laxative and
live the country at once q thousand
millions of greenbscks. Such a rice
water discharge of paper would hardly
meet the approval of the facile speaker
nd youthful but learned Senator from
Kansas. His speech is most remark
ble, not more for its good taste
Ind elegant diction than for Its
wnprehensive statement of facts and
freshness and originality. 1t Is who'll
ny unlike most studied addresses that
have been delivered in the Senate, and
ageyer much we may differ from Mr..
- Questions which recently
destinctiveness to parties and
separated States, we must concede his
distinguished ability and accuracy of
thinking. He does not believe
that the characterization of silver
was accomplished by fraud, but
thss ~was improvidently done.
He insists that silver was bereft of its
Illegal tender power by the bondholders
10 augment the value of their invest
ments regardless of the rum and DESC
ation brought upon the toiling popu-
Aations of the Union.
ssGold," exclaims Mr.. Ingalls,, ''is
be money Of monarchs; SILVER, of the
people. The tendency of gold is to
accumulate in vast masses in the COM
mercial centers, and to move from
kingdom to kingdom In such volumes
as TO unseltle values and disturb the
finances of the world. 1t is the instru
ment Of gamblers and spectators, and
NE idol Of the miser and the thief.
Being the object of so much alteration.
it becomes naughty and sensitive and
shrinks At the approach of danger, and
whenever 1t is most needed it always
disappears. At the slightest alarm IT
begins 20 look for a refuge. Ii flies
from the nstion at war to the nation at
peace. War makes 1t fugitive. No
people in q great emergency ever found
a faithful ally in gold. il is the most
cowardly and treacherous of all metals.
1t makes no treaty that it does not
break. Il has no friend whom
Il does not sooner or later
betray. Armies and nations are not
maintained by gold. In times of pan
pic and calamity, shipwreck and disas-
ter, II becomes the chief agent aud
minister of ruin. No nation ever
fought great war by the aid of gold.
Gu the contrary, in the crisis OF great.
est peril il becomes an enemy more po-
tent than the foe in the field but VIII, n
the battle is won and peace has been
secured, gold reappears and claims the
fruits Of victory. In our own civil war
1t u doubtful II the gold of New York
and London did not work US greater
injury than the powder and lead ana
uiron OF the rebels. II was the most in.
incible enemy of the public credit.
Gold paid no soldier or sailor. II re-
fused the national obligations. Il wss
worth most when our fortunes were
lowest. Every defeat gave il increased
value. Il was in open alliance with
our enemies the world over. and all its
energies were evoked for our destrac-
ton. But. a. usual. when dancer hs:
been averted and the victory secured,
cold swaggars to the front and assert:
the supremacy. But silver is
THE MONEY OF THE PKoPLE.
II is the money OF wages and retail
It's tendency is toward diffusion and
dissemination. II enters into the mi
mute concerns of traffic, and is ex
changed day by day for daily bread
penetrates the remotest chan
nels Of commerce, and its abun-
dance, bulk and small subdivision pre-
vent its deportation in sufficient
amounts to disturb or unsettle values
II il rekires at the approach Of danger,
or frJm the presence OF an inferiol
currency, II still remains at HON,
ready to respond 20 the first summons
for its return. Two hundred and fift,
millions Of silver would be readily 40
sorbed among the people of the Unite
States, forming vast, permanent, sta
bic accumulation which would be Al
endnr. ng basis Of prosperity, less liabl'
than any other currency to the muta
items and vicisatudes Of financial pan
tcs and disasters.