Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-06-04
every year in attending taxation and appro,
priationS.

| their business, and it is equally absurd t.
| deny that the condition which always fol
! lows an insufficient volume of circulation
exists to-day. We have but to cast our eyes
| over the country for the confirmation o.
| this statement. True it is your towns anG
| cities are on boom, so to speak, but YOU
! fields farms and country homes are going
! TO decay. Your towns and cities double VI
Z heir population, but what means the exc
! dus from the country Palstial homes fl
| for the gods 10 dwell in go up IL your cities
| but the grand old country seats are falling
! into ruin. The money power fiourishes to-
| day as 1t never fiourished before, while the
farmers and all the toiling people
| whether by
| BRAIN OR HAND,
| are staggering under loads of debt, imposed
| upon them by the tyranny of tariff taxation
! and the unjust system of finance provided
| by the government. Why should this con,
| dition exist! There is no excuse for it.
Congress has authority not only to coin
money gold and silver. and Eregulate its
value. but 10 ISIS ne The promises of the gov,
| eminent to pay money and invest them
ttreasury notes. with all the functions and
capacity OF mOHey There is therefore no
want of authority to change the financial
condition or policy which is transferring the
! earnings of labor into the Golfers of tie
money power, without fair and honest con-
Sideration.
The true reason why this stunted and
starved volume of circulation has been
maintained is that the money power Of NeT
York and New England has dominated and
controlled the financial policy Of the gov
eminent
SINCE THE BEGINNING
of the war between the states. The Demo-
cratic party has never had the IOwer in
congress TO break and overthrow this tinan-
cial despotiSm. The financial policy under
which the vast and varied business of the
country is conducted cOntemplateS gold as
the only standard Of value, ana national
bank notes as the only proper paper cur
rency. The exceptions as to the silver in
circulation at this time and gold and silver
certificates, and the three hundred ard
forty-six millions of legal tenders have been
enforced by the Democratic party since
1875. You must remem Der that the 1Sepub-
lican party controlled the law making de-
partments of the government absolutely
from the beginning of the war until 1879,
when
THE PEOPLE REvoLTED
against the financial policy OF that party
and returned a majority of Democrats to
the house of representative of the Forty
fourth congress When that congress as
Sembled. silver he'd been demOnetiZet, 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 3 per cent
over gold provisions had been made by law
to cancel and burn up all the greenbacls
except $500, 000,000 | have not the time to
refresh your recollectionS of the effect
which this legislation produced upon the
agricultural interests and all other inter
ests not the neneficiaries of this policy.
Bad as the condition OF those interests are
to-day, il is better than in 1875. Remember
N-nt1tn hot InaA
FOR THE FIRST TIME
the Democratic party had a majority in the
houSe-that party has never had the power
TO enact a law. 1t never has had except at
one time For few days only all the de-
partmentS of government which are re-
quired TO concur in the passage Of laws,
and whatever changes have been engrafted
upon the financial policy of the Republican
party since 1873, whatever laws have been
passed since that time TO promote the in
tereSt of agriculture and labor generally
We're originated by Democrats, and their
passage secured by the influence and power
OF the Democratic party in the house of
representatIge Now, fellow citizens,
when the Forty fourth congress assembled,
the Democratic party in behalf of the pco
pie inaugurated the fiercest parliamentary
war ever waged upon
THE WASTE OF PUBLIC MONEY
and upon the financial policy OF the govern
ment After long and desperate struggle,
eliminating in 1878, there was partial we
tory for the Democrats. We had arrested
the destruction of legal tenders, which was
proceeding under a provision in the special
resumption act. and made them perpetual
volume of circulation by requiring their re-
ISSUE as they might be received into the
treasury We had remonetiZed silver vet
forced to consent to its 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 thirty-two
millions of silver dollars annually. Thus it
viii be seen that from 1878 to 1891, by the
force of laws secured by the Democratic
party. there We're preserved to the volume
of circulation $}46 600, 900 legal tenders and
So. 600. 900 of silver have been
ADDED TO 1T EVERY YEAR
during that time, amounting to SIG, 900
or about, and tn facilitate its circulation
silver certificates were required to be
issued.
During all the time that the Democratic
party has had the majority in the house it
has struggled for the free coinage of silver,
even under circumstances 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 de-
mand of the holders, so that our volume of
circulation may consist Of gold and silver or
their representatives (certiticates) and
legal tender treasury notes convertible into
coin on demand.
THE DEMOCRATIC PARTY
has never enforced this policy except as |
have shown, for the simple reason it never
has had the power in law-malling depart
meuts of the government TO do so. If the
Democratic party possessed control of all
the law-making departments of the govern
ment it would enforce that policy and in
stead of a stinted and starved volume of
circulation. there would be provided a lib
eral. adequate volume of circulation with
which to conduct the vast business OF this
great country. How can this be lone!
Gold and silver must be coined free and
without limit. This would insure the vol
ume of circulation 4 yearly addition of
nearly 800. 000, 900, which, when the volume
of circulation had reached the proper limit
would De ample to meet the requirements of
the yearly increase of business and popu-
lation.
THE GOLD AND SILVER
now held by the government or of which it
NAV be possessed when required should be
used as a basis for the redemption of legal
tender notes, as far as may be necessary.
In order to obtain gold and silver sufficient
to constitute proper basis for the neces-
sary issue of legal tenders, silver and gold
certificates. as they are received by the
treasury might be Cancelled and legal
tenders issued upon the gold and silver,
this would not be necessary. What amount
of money ought 10 be provided by the gov
eminent for circulation! l do not know,
nor does any other man know, but as the
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