The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1886-02-02
After the Gold Bugs.

Senator Vance, OF North Carolina, 10
we'll known as the prince OF story -telers
and humotist OF the first wa'er. 1t
vas he who started the story, OF old
GRIMES In the GREELEY campaign, which
travelled all over tue country, and did
more. perhaps, to reconcile Democrats to
the support OF the ticket than many spa
cious srgumen.s. His recent speech in
the Senate ON the silver qaes.ion con
tains the happiest combination Of Wis.
dom and humor, argument and ridicale
of any attempt Of the kind since the "a
nous Duluth speech oi, PRocroR Ksorr
In speaking Of the decentralization of
silver, he charscteriz,.l It ss the greatest
financial calamity which could beiall the
American people: . g -
"Literally and truly the rich man
would be made richer, while the poor
man would be made poorer. For ii 10
in the very nature OF this kind OF money.
making by Legislation, as in gam bling.
that the gsins OF one. man must be the
losses Of another. 1t differs from this
lin oil transactions OF legitimate trade
and finance, in any or all OF which both
parties have voice and may he benefit
ted. But this is case Of dead open and
shut, where the debtor is bound to lose
that which the creditor gains. II differs
too from vulgar theft in that is iraudu-
lent in it's pretenses, insidious In lite
methods, and lacks the courage and the
candor Of old-fashionei larceny"
The bond-ho!der receives special at
tention after this manner:
"The allegation that it IS necessary to
adopt the gold standard and stop the
coinage OF silver 10 order to pay our
public debt in gold and keep up our high
credit Is specious one, made in the 10
terest Of the debi.holders alone, and can
make no claim to serving the general
welfare. 1t means one or the other OF
two things: .Demone!ize silver for my
sake to the serious injury OF the pnblic
or else pay me in gold sud everybody
else in silver. Give me privileges over
all other men, That is the bondholder's g
lposiiion, stripped OF all evasion, when
thev make. this extraordinary claim
They 60 farther and say that It is not
honest to pay them with silver dollar
which is worth only 80 cents. The hon.
eety or dishonesty OF such transaction
depends much upon it's conditions and
surroundings.
"In the 6rst place, that silver dolisr j.
worth every cent now that /, was when
,he public debt was contracted, measure.
by any. STANDARD except gold In the
next place, 1t is the very identical dollar
which the public creditor agreed to re.
ceive 10 payment when the debt was ere
ated. ''Tis 80 nominated in the bond
The creditor sgreed, too, to take this dol
lar when bis debt became due, wIthou,
any guaranty whatever, express or i'm
Piled, on the part of the Government
THAT the bullion value OF It's materia! rel
stivelv to gold or to anything else shoult
never fuctuste bat should remain foreve,
with neither variableness nor shadow o
changing. In all nv knowledge OF hu
man transactions, whether acquired by
personal experience or by the, reading o
history from Moses to Sunset Cox.
have never, I believe. met with single
case where the debtor undertook to in
sure the stability Of the coin in whicl
the creditor was 10 he peid, prior 10 this
m Oldest claim OF the holders OF Uaitet
States bonds" go 2, '-,.,.s s''s E =.
4 Then follows this specimen of ridi
cole: af .gif o. s.s
+ "In the course OF my career ] hav,
heard many bad cases argued With vary
ing degrees Of ingenuity but whether II
the schoolboys' club, or in the cross
roads debating society, or ir the cour
; OF pleas and quarter sessions, or frou
the tail.eud OF gingerbread.car at
battalion muster, or even in my min
years of listening to the national plsti
tudes which f,l the pages Of the Con
grcssional Record, l have never seen o
heard worse abuse Of logic, feeble
} attempt to outrage common sense, tba
this charge that the man who offers t
pay the precise amount, at the exse
, time, in the Identical money OF his prom
y ise, was dishonest man! The st5rie
OF the martyrdom Of man for opinion
Q sake, and 10 the matter OF higher faii
Flor conscience sake, are favorite inc
ldents OF historical reading. My boyis
: blood has been alternately warmed an
chilled by the contemplation OF the pic
tures OF anguish and suferings 10 til
Book Of Martyrs and all the populs
stories OF persecution In the dark an
n unhappy ages when fanaticism worship
ped God, or thought it did, by the inf {
ton OF torture; but have never seen q
heard Of case that made so small q
b appeal to human sympathy, OF 80 larg
q one to human contempt, as this wall {
the uaited States bondholder hecsuse
is not permitted, freely and with applaus
TO collect Eve dollars from the Treasur
e when be bad been promised four"
- Referring to tie argament OF Senate