The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1879-09-17

/ NoNi year. 1nls shrlnkage of values
increases the tax burden oEe-half, or four
hundred millions a year. That increase
amounts to interest at 4 per cent ON ten
/ thousand millions of dollars, more than one
thlrd OF the present wealth of the country
THE RESTORATION OF SILVER.
This relief is offered by the Democracy
III the Dill which passed the House of Re
personalities last session, and will unques-
| tiohaDiy pass the Senate next session for
the unlimited coinage of the silver dollar
and the issue Of certificates for silver bul-
hon. That act would cause an early in
crease of metallic money; or of paper repre-
sentlng and redeemable in metallic money
/ from one TO two hundred millions of dol
lars, followed by yearly increase of thirty
or forty millions. This would raise prices
/ very nearly to the old bimetalic level light
enlng the burdens of debts and taxes. slim
ulating Industries, and bringing into play
/ all the productive energies Of our people
/ 1t Is great, wholesome, INDISPENSABLE
measure OF relief; open to no Just criticism
either IN respect OF its honesty or sound
/ policy. 1t will bring down the purchas-
ing power Of gold, which has been dis
/ honestly increased by the decentralization
/ OF sllver-an act to which the American
/ people never cOnsented-done in the dark
/ by some rascal for the purpose of robbiny
the masses and piling up the fortunes of the
money class.
! The two parties are squreIv ut issue on
this question. Mr. Sherman and Mr..
/ Schurz both take ground in favor of stop
/ ping the coinage OF the silver dollar when
/ the amount under existing law shall reach
a sum supposed to be the largest which will
/ float at par with gold; or, on the other
hand, adopting a new and more valuable
silver dollar for the benefit of the creditor
Il Il
the perpetuation OF the wrong inflicted upon
the people by the secret and fraudulent act
of decentralization. | thank these gentle
men for their frankness on this great ques-
tion, and call on the people of Ohio to de-
eide by their votes whether our great
American money-product shall be put
on an even par with gold, and whether they
will have the old dollar Of the fathers or the
new dollar Of the Shylocks.
Mr.. sherman, who was the first To propose
the decentralization of silver in the interest
of the moneyed class, attempts to sustain it
by the following statement: " Many causes
contribute to reduce the relative value of
silver and now it requires eighteen ounces
Of silver, to be equal to one ounce of gold
and therefore, the chief commercial coun-
tries have either wholly or partially sus-
pended the coinage Of silver
He here, with studied yagueness asserts
that silver at the old ratio of sixteen to one
had deprecated as compared with gold, and
for that reason was demOnetized thus il
Illustrating again his fluent disregard of facts
The truth Is, the American silver dollar
was always, since 1888 worth more than the
American gold dollar down to the very date
when it was demonetized, and at that date
it stood at premium of 81 per cent. The
depreciation of our silver, as compared with
our gold dollar was caused by the acts of
decentralization accomplished through a
conspiracy of Insurers. If Mr.. Sherman
does not know that fact he is less informed
on the subject than nine out of ten of his
hearers. He ought to know why it was de-
monetized for he introduced a bill for that
purpose in the United States Senate in 1865,
and advocated its demonstration before
the congress of bOndholders in Paris.
The sole reason was that the insatia-
BILE avarice of the bond holders of Eu-
rope and America sought to appreciate the
value of their bonds and depreciate the
value of all property and labor in which
their bonds were payable by striking out of
existence one-half of the worlds metallic
money.
Gen. Ewing then referred to the national
banks, declaring them to be a useless bur
den upon the country, and fayoring the is
sue of treasury notes for their bills.
REPUBLICAN ExTRAvAGANCE.
heSakdlng hepuDlcan extravaganza MI
Ewing said:
Mr.. Sherman has the amazing reckless
ness to assert that "the Republican admin
istration has been marked by a uniform
/ decrease of expenditures, as shown by the
official table of net ordinary expenditures ;"
and 'the Democrats have been rapidly in
creasing appropriations since they have had
control Of Congress"
He attempts to sustain these assertions
by figures made up, not from published Off p
Gals reports, but from data of which the
public has no Information. l appeal from
John Sherman on the stump to John Sher-
man in the Treasury. | hold in my hand
his own last report to Congress, in a volume
1 entitled Finance Report, 1878" On page
II is given the net ordinary expenditure of
the government exclusive of premiums,
interest and public debit, in which it is
stated that those expenditures since 1870
were each year as follows: ] give the figures
exactly rs published by him:
90 90