Daily globe., 1879-06-11
.Hr. Don,lelI Y's Speech.

An organization was then effected by elect
ing Hon. Ignatius Donnelly to preside. Upon
assuming the duties Of chairman, Mr.. Donnelly
returned thanks for the honor conferred, and
followed in the following enuncfation of prin-
ciples of the Greenback party:
Men Of all parties concede that q fraud was
p-lcticed upon the American people, cruel
and destructive fraud-when the acts were
passed which demonetized silver. It is fur
ther conceded that that legislation was obtained
secretly and surreptitiously, probably corrupt
", unaccompanied by any demand on the part
OF the people for such radical and sweeping
change in the characteristics Of our currency.
Under these circumstances, it would seem to
i plain man that the most natural and proper
thing would have been to at once repeal the
law under which the fraud was perpetrated.
To do less was to offer reward TO the man
who had eunningly secured that legislation.
Tie acts being wrong, what more reasonable
than to wipe them out; fraud having been
enacted, what more just than to place the Leg
islation of the country back precisely where it
stood before the fraud was consummated. In
other words, as silver had been dcmonetized,
rem0u6tizs silver. 4
But instead of this. W hat has been done7
The injustice has been partly repaired,
and in part it continues to exist. Sill
yer IS remonetized for sums Of small
amount; and its coinage is limited in amount
not more than four million dollars of silver
month.
Why this discrimination? I can under stand
how we might have too much rag money"
too much paper money, too much soft money" "
but how can have too much 'thard money
too much silver money! cannot comprehend.
During probably ten thousand years silver
has been recognized as one Of the chief money
metals of the world, during g great part of
that time as the chief money metal. What
new revelation is this that has just now broken
uoon be worii, telling us that our forefathers
during ali those past centuries were mistaken
and that silver is such a deadly and poisonous
mineral that restraints must be put upon its
coinage!
While we possess the richest silver mines in
the world, whose full development would give
employment to many thousands of our people,
and whose productions would add largely to
the sum total OF our natlonal wealth, we are
nevertheless told by a Csterie of European
bankers that we must prevent this dangerous
drug from getting abroad among the people,
or it will bring untold woe upon the land.
For my part I cannot subscribe to any such
hophistry. l cannot recognize any reason why
the metal which served the purposes OF the
civilized world during all the past; which was
money during the Egyptian. the Assyrian, the
Greek aud the Roman epochs, and down to
the DAYS f our own fathers. should now cease
to be money.
No man, can deny that the money of people
must hold some certain relation to the Dusr
ness, numbers and property Of that people.
And it is an. undoubted fact that under the
operation of just laws the stimulus OF tht
great modern inventions, and the process o
colonizins new countries, the numbers and th
commerce of mankind are increasing IN ratl'
far in excess of the annual productions of golt
and silver; so that while the world grows th'
currency lessons. The annual statement o.
Wells Fargo & Co. shows that the production
Of gold and silver, in the United States for 1877
vas 5l7. .267 1872 less than that of 1877, fallln.
off of about one-fourth in one year, while ou
population, and the bulk of trade were rapid.
increasing during the same time.
This is the grave problem which to-day con
fronts craftsmanship; and the suHerings, tn
agony. the poverty, the discomfort of Europ
are simply due to the efforts of sexpandin
populations, and growing commerce t
adjust themselves to a decreasn
metallic currency. But in the mids
Of this calamity, to take away one-half 0
that metallic currency; to strike out silve
from its place as money. is to arrest, with a
awful shock, the growth of the world, and t
urecipitate mankind into inevitable reVolutio
and anarchy. Even the old world begins
recognize this truth, and find III a recen
newspaper the following,
LONDON, June A memorial to Lor
Beaconafeld, signed by the leading merchant
trade, asks for an inquiry into the effect on tt
commerce of the world of the undoubted]
large contraction of metallic currency
Let us take courage from the fact. II
National party, though but of yesterday, b;
grown at wonderful rate, at rate unprec
dented in the history of politics.
Last fall we polled in the, United States l. IL
25S votes In the States which are regarded
the great battle field of the. coming Presiden
tial election, our vote stood as follows: