Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1891-03-12


President Hayes, on the advice of John
Sherman, who was then Secretary Of
Treasury, vetoed the bill, and in the
veto message he makes the very point
that they now urge 10 strongly. But
the bill passed over the veto, and went
into effect. What has been the result?
The silver dollar has kept its place
right at the side of gold ever since. 1t
will buy Just as many Of the necessaries
of life, pay just as many debts, and
bring as much comfort aud do as much
good as gold dollar. And the gold
dollar, as a gold dollar, is not at a
premium at all. You can buy 100
gold dollars with 100 silver dollars at
any band in Spring, Notwithstanding
Mr.. Harter says the silver dollar is
worth only 75 cents.
Did it drive gold out of the country
According to the official report there
is now in this country 500, 900 OF
gold, $3.50, ,000, 600 of silver and $500, ,OOO,- :
900 of paper money.
There is more gold here now than
when the act of 1878 was passed, and
gold has not gone to premium since
the law of last July, under which S4, :
5OO, 900, of silver is issued, and under
which about $40, 100000 have already
been added to the volume OF our busi-
ness. This, with the movement OF the
grand cotton crop of last year, went
long way toward preventing a complete
and disastrous panic last fall. ,,
1t would be instructive If some gold
bug would tell at what point gold would
begin to go to premium on account
of too much silver. It is true that silver
as a commodity has fallen since the
demonstration. 1t naturally would.
Quit using it as money, and 1t will
bring what it is worth fer use in the
arts. Let everybody stop using pota-
toes, and quit for year, and 100 bush,
els would not bring a cent. AT the end
of the year let everybody commence
eating them again and potatoes will be
worth as much as ever. So with silver;
create demand for it by allowing its
free coinage and making 1t useful aud
instead of being worth rs cents, as Mr..
Harter says, it will go right up to its old
place. The argument of Mr.. Harter
that this proposed silver legislation
would enrich mine owners is an attempt
to arouse prejudice without argument,
thing Mr.. Harter rarely does. If the
miners of the West have, by expending
time, labor and money, dug out of the
earth silver that is needed in the arter-
les of trade as money, to start again the
long idle wheels of industry in this
country, and to encourage the farmers
and laborers of the country of hope for
a living return for their labor, they are
entitled to the benefits of it. Suppose
there was complete failure of the corn
crop this year; a farmer in Clark coun-
ty has saved $4,000 bushels from last
year; would you say to the people, that
is good corn, you need it, it would do
you lots of good to raise hogs and feed
stock, but you must not buy 1t, because
that farmer would get the benefit of
the increased price of that corn? That
is not the kind of trade Mr.. Harter has
been in the habit, Of teaching the Ohio
Democracy.
The United States needs more mon
ey per capita to transact her immense
business. France, with territory o
little over five times as large as Ohio.
has $51 per capita, while the United
States, ocean bound. has $A per capita.
Frances prosperity since the German
war has been the marvel of the world.
The United States, young, vigorous
and with unlimited natural resources,
has steadily gone backward since the
same time.
Mr.. Harter says: IF you had fac
tory running 600-horse power engine
to drive its machinery, and tomorrow
you found an enemy had taken out
your engine and put in one only 400
horse power, you could only run two
thirds of the factory, and would have
to dismiss one-third of your work
men," That is true, and that is just
what was done in this country by the
demonetization of the silver. When
the people found it out they found that
an enemy had stealthily taken out
more than one-third of the horsepower
of the engine that had run the business
of the country. And then it was that
for the first time in our history, we saw
the tramp, and we have had him ever
since. It is now proposed to put back
the 600-h0rse power engine that our
fathers used and that brought them
that magnificent prosperity of Demo-
cratic days, which Mr.. Harter has
heretofore been fond of speaking about.
It is believed that the free coinage OF
at least the American product of silver
will bring about the result.