Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-06-11
lEr. Bo,anezl u'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
folio we'd in the following enunciation of prin-
ciples Of the Greenback party:
Men of all parties concede that fraud was
practical upon the American people, cruel
and destructive fraud--when the acts were
passed which demonetized silver. It is fur
Their 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
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 a reward 10 the man
who had cunningly secured that legislation.
The 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 demOnetlZed
remonetizs silver. ---- ,..E ne
But instead of this. what has been done?
The injustice has been partly repaired,
and in part it continues to exist. Sill
yer is remonetized for sums of small
amounts and its coinage is limited in amount
not more than four million dollars Of silver
month. VI
Why this discrimination? I can unde1st
how we Nigh have too much 'srag money"
too much paper money, too much soft money!"
but how we can have too much "hard 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 great part of
that time as the chief money metal. What
new revelation is this that has just now broken
upon tho world, telling lis that our forefathers
during all those past centuries were mistaken;
aud that silver is such deadly and poisonous
mineral that restraints must be put upon it's
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 national wealth, we are
nevertheless told by ceterle 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 cannot subscribe to any such
sophistry. I cannot recognize any reason why
the metal which served the purposes of the
civilized world during all the past; which was
1nouey during the Egyptian, the Assyrian, the
Greek and the Roman epochs, and down to
the days If our own fathers, should now cease
to be money.
No man can deny that the money of people
ness, numbers and property of that people.
And it is an undoubted fact that under the
operation of just laws the stimulus Of the
great modern Inventions and the process of
colonizing new countries, the numbers and the
commerce of mankind are increasing in a ratio
far in excess of the annual productions OF gold
and silver; SO that while the world grows the
currency lessons. The annual statement of
Wells, Fargo & Co. shows that the production
Of gold and silver, in the United States for 1878
was SIT 1851, 1872 less than that of 1877, falling
off Of about one-fourth in one year, while our
population, and the bulk Of trade were rapidly
increasing during the same time.
This is the grave problem which to-day con.
fronts craftsmanship; and tho suffcrings, the
agony the poverty, the discomfort of Europe
populations and growing commerce tt
adjust themselves to decreasing
metallic CURRENCY; But in the midst
of this calamity, to take away one-half OF
that metallic currency; to strike out silver
from its place as money. is to arrest, with az
precipitate mankind into inevitable revolution
and anarchy. Even the old world begins t.
recognize this truth, and find in recent
newspaper the following:
LONDON, June "A memorial to Lore
Beaconsheld, signed by the leading merchant
and bankers of London, engaged in the foreign
trade, asks for an inquiry into the effect on til
commerce Of the world of the undoubtedl,
large contraction of metallic currency"
Let us take courage from the fact. Th
National party, though but of yesterday, Ia
grown at a wonderful rate, at a rate unprece
denied in the history of politics.
Last fall we polled in the United States l, liz
25S votes. In the States which are regarded a
the great battle field Of the coming Presiden
tial election, our vote stood as follows:
California ............... 39,OU
illinois ......''......'...'... 1921