The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-10-09
A GREAT MEETING
CONTINUED from Fifth page.

detector to find out whether the bill was
not forgery. Satisfied that 1t vas not q
forgery he turned to another page to see
how much the bill was worth. and finding
that it was good for 30 OR 40 cents on the
dollar he would then turn to see when his
detector WAS published, and if it was +
week old be would refuse the bill: but if 1t
was not more than n week old he would
take chances On the money aud take it at
| about 10 per cent less THAI
its quoted value to protect
| himself against loss. The moment the
customer had turned his back the mer.
chant would run out bare headed to the
bauk and deposit it so that if the bank OF
issue failed before morning the bank of
deposit would suffer the loss. Every state.
ment he made about this Red Dog or Wild
Cat money was verified by old people in
the audience. He then showed how i'm
possible it was to take this money FROM
one state to another and paas it as curren-
cy, all Of which was strikingly Illus
trative OF the impractability Of the system.
| The Democrats in their platform had ap-
proved plank abolishing the tax of 10 per
cent. on state banks in order to return to
hearers if they approved it. Nine thou
sand decisive mos" were uttered. He
| then gave the history of the financial
| policy of the Republican party and chal
lenged any body to show or point out to
him "A corner of the world where the
| money issued by the government under
the Republican system of finance would be
refused today. Our present S. bill, no mat
ter what national bank it is issued from,
goes for full face value in every state in
the Union. because the people know that
Uncle Sam is security for it and it. must
and will be paid according to its full
value. He said that the old state bank
money was bad enough, but that it was
not half as bad as the fiat money proposed
| by Jerry Simpson and his school of theor-
lists. He told how the greenbacks came
about and what the Democrats
said about them, but that the
day came while Hayes was president
and Blanche K. Bruce was register of the
treasury when even Democrats were glad
to take them even though a Triggers"
| name was signed to them. His argument
on the financial question Was one of the
! most convincing ever heard from the lips
of a public speaker in this section of the
country and not a soul left his hearing THAI
did not know that he was right and that
the prevailing Republican financial system
Is the best ever known in the history of the
world In fact it was impossible to hear
him without being convinced. so clear and
logical was his argument.
His discussion of the tariff was equally
AZ interesting and instructive rs his dis
cussion of the money question. He said the
Democrats agreed with the Republicans
to some extent on the plan of taxation.
They agreed with the Republicans that a
certain amount Of tax must be raised for
the expenses of the government which, at
the present time, was between million
and quarter and a million and half dol
lars per day. After both parties went this
far the road forked. The Democrats, he
said. hold that tariff for everything but
revenue only is unconstitutional, while
the Republicans msintan that Il tariff for
protection is AS constitutional as any law
ever passed. He then took up the history
of the tariff question, and strange as it
may seem to Democrats, the constitution
itself il the first witness he put
on the stand. The constitution
referring to the question not
only provides for the raising of reve-
nue. by tariff, but absolutely states that
tariff became necessary for the fostering
of industries" Now then, George Wash
ington, the immortal father of his coun-
try, was the president of the convention
that formed this constitution. Jefferson
favored tariff for fostering American in
Tod ho ic
called the father of the constitution; and so
did Alexander Hamilton, who was GER
tainly a statesman in his day; and so did
Monroe and Adams; and Andrew jackson
believed so much ia the constitutions
ality OF imposing tariff duties for
fostering manufacturing that he came
near hanging Calhoun over it. Daniel
Webster, too, one of the greatest consti-
tutional lawyers ot his day believed it and
SO did Henry Clay. Rnfus Choate, Abraham
Lincoln, Ulysses S. Grant and James A.
Garfield. And it might be added also
that George L. Curtis, one of the most
profound lawyers of the present day, and
"A lifelong Democrat only quilted the
Democratic party few weeks ago giving
as his reasons the absurdity of the Chi
cago convention stating publicly and in
their platform that raising revenue for
any reason other than providing for the
expenses of the government was uncon-
stitutional. Now then we have the opin-
ions of Washington, jefferson, Madison,
Munroe, Adams Jackson,
Webster, Clay, Rufus Choate, Lincoln, |
Grant, Garfield and Curtis on orr side. |
Who have we on the other side? Jerry !
Simpson, jeff Davis and John G. Calhoun. /
Isn't Jerry Simpson nice specimen to put |
up rs authority against Washington |
Webster, jackson and Clay said |
the governor with smile, and great was |
the laugh at the expense of poor Jerry"
Now then somebody asks ''are not our in
iustries hundred years old and in no
further need of fostering" / grant that
said the brilliant ex-governor. Now we
are not fostering our industries by the
,ariff; but we maintain it in the interest of
abor. He then pulled q penkuife out of his
pocket TO illustrate his point. That is
said he, that is worth dol
ar. We will say that the raw material
n it cost 10 cents; then we must find that
he balance represents labor. In England
he price of labor is about one-third less
han the price paid to American labor
nder free trade then the Eng ISL cutler
would send those knife TO America and
ell them here for 20 cents. In that event
ould the American manufacturer get
ollar for hiss Certainly not. The result
hen would be that the American manu-
acturer would be compelled to go out of
business. break up or decrease the price of
4 Dor in his factory to the level of English
abor These are the only alternatives left
i'm and of the three he would in all
uman probability particularly il he was