Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-06-01

can party controlled the laT-making
departments of the government abso-
lutely from the beginning OF the war
until 1915. when The people revolted
against the financial policy OF that
party and returned a majority of Dem
ocrats to the house Of representatives Of
the Forth-fourth congress. When the
congress assembled, silver had been
demonetized, one-half the metal money
OF the country had been destroyed.
Gold had been enthroned as the true
standard OF value. and that, too. when
silver was at a premium Of , per cent
over gold, provisions had been made by
law to cancel and burn up all the green
backs except $500. 100000 / have not
the time to refresh your recollections
Of the effect which the legislation pro-
duced upon the agricultural interests
and all other interests not the benef
Charles of this policy. Bad as the con-
ditiOn of those interests are to-day. ii
is better than in 1879 Remember now,
if you please. that since lS1j-wheu for
the first time the Democratic party had
majority in the house-that party
has never had the power TO enact
law. Ii never has had Except at
one time for few days only all the
departments OF government which are
required to concur in the passage of
laws, and whatever changes have been
engrafted upon the financial policy Of
the Republican party since 1875, what
ever laws nave been passed since that
time to promote the interest OF agri-
culture and labor generally were origi-
mated by Democrats, and their passage
secured by the influence and power Of
the Democratic party in the house of
representatives. Now, fellow-citizens,
when the Forty-fourth congress as
sembled the Democratic party in be-
half OF the people inaugurated the
tiercest parliamentary war ever waged
upon the waste of public money and
upon the financial policy OF the govern
ment. After a long and desperate
struggle, eliminating in 1873, there
was partial victory for the Demo-
Gratis. We had arrested the destruc-
ton Of legal tenders, which was pro-
ceeding under provision in the special
resumption act. and made them per-
petlal volume of circulation by requir-
ing their reissue. as they might be re-
ceived into the treasury. We had re-
monetized silver yet forced to consent
to is coinage only by the government
upon its own account at the rate OF not
less than two nor more than four
million ounces per month or $1,000, 900
of silver dollars annually. Thus it will
be seen that from 1878 to 1891. by the |
force of laws secured by the Democratic !
party. there were preserved to the |
volume of circulation S246 0G0. 900 legal |
tenders and So. 100000 OF silver have |
been added to it every year during |
that time. amounting to $4l6, 900. 900 or
about and to facilitate It's circulation |
silver certificates were required to be !
issued.
During all the time that the Demo-
cratic party has had the majority IL
the house it has struggled for the free |
coinage OF silver, even under circun |
stances that seemed to render the effort |
hopeless. The financial policy of the
Democratic party contemplates the
free and unlimited coinage Of silver
and paper currency convertible into
coin on demand of the holders. so that
our volume OF circulation may consist
of gold and silver or their representa-
tives certificates and legal tender
treasury notes convertible into coin on
demand. The Democratic PARTY has
never enforced this policy except as I
nave shown for the simple reason it
never has had the power in law-malling
departments OF the government to do
so. II the Democratic party possessed
control of all the law-mazing depart
nents Of the government it would en-
orce that policy, and instead OF a
tinted and starved volume of circula-
ion there would be providedsa liberal,
Idequate volume of circulation with |
which to conduct the vast business Of |
his great country. How can this be
lone? Gold and silver must be coined
rec and without limit. This would !
insure the volume OF circulation a
early addition of nearly 800. 1000.
Which, when the volume OF circulation
lad reached the proper limit would be
mple to meet the requirements of the
early increase of business and popula-
ion. The gold and silver now held by the
government or of which it may be pos
essed when required should be used as
basis for the redemption of legal |
ender notes, as far as may be neces-
airy. In order to obtain gold and silver
to constitute q proper basis
Or the necessary issue Of legal tenders,
liver and gold certificates. as they are |
eceiyed by the treasury, might be can
elled and legal tenders issued upon |
he gold and silver, this would not be
ecessary.- Dave Culberson's Bon