The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-09-01


me rest financial system in the world eoula
not stand such an organized and vicious AZ
tack upon a. These disturners- these pro
moters OF public peril represent largely the
creditor class the men who desire 10 apprs-
ciate the gold dollar In order TO suhservc their
own selfish interests. men who rcyel IN nard
times: men who drive harsh bargains with
their fellow men Ia times 81 financial distress.
and men wholly unfamiliar with the true prin'
eiples OF monetary scicnee.
| lhird-The sherman SILVER prrChas law
has been AT least In part aud possibly the most
largely instrumental ia producing the exist
iEg ,onpli caii0ns. No one now defends a.
Few apologize for II The political party that
enacted II seems now the most anxious for its
repeal II was violation OF every correct
principle 81 monetary science. IL not
even an honorable compromise. II was a
nakeshift. subterflec. mere temporary ex
pedicpt The president In his message. not
desiring At this time. for obvious reasons, TO
offend the scnsiailitic- OF those who had voted
for T. politely called IL "frure'
II has been asserted that the president him
self. in his hostility 10 Independent free coinage
was d>po-ci at one time to regard with favor
or acqnifScc IN the provision OF the sherman
law. which had been the instrument or means
by which such free coinage had been defeated.
Whether this he or not. the fact remains.
and has not escaped observation. that while
the democratic national platform denounced
the sherman law and demanded its repeal
denounced IL, not as the result OF q truce. but
Us cowardly makeshift-yct Mr.. Cleveland.
neither in his speech delivered At Madison
Square garden, New York. in answer TO the
notification OF his nomination nor In his sub
sequent letter o, acceptance. nor in his in
augural address in March last. criticised the
sherman law. nor made any allusion 10 IL
whatever. although IL was then already threat
ening the prosperity OF the country with the
dangerous results OF It's operation. which were
apparent 10 everyone who had eiyea The sub
lect any careful attention
Mr.. Hill then gave his personal record
on the silver question. and then dis
cussed Englands opposition to a single
standard. and continues as follows:
would myself accept the idea that the An
glo Indian usase Is merely monumental British
stupidity I. II were the first act in the none
tary drama instead OF fourth
Great Britain defeated the renewal OF TIN
parity o. gold and silver at the monetary con
ference OF ISIS
Great Britain defeated the renewal OF the
parity 81 gold and silver az the monetary con
ference Q. 1851.
Grca. Britain defeated the renewal % ihe
parity Of gold and silver at the Brussels none
fary conference Of is9e
Great Britain now. in 1893. is combining her
Asian with European power to prevent renewal
OF the parity OF gold and silver by the United
States and France or other foreign powers az
any future time. To create the hugest mass Of
inconvertibie money ever known while posing
as money parists may look like pious i'm
becility worthy OF Pharisee in Bedlam. But
on review of the successive acts Of the none
tary drama. a statesman OF sense will -douh.
not through ihs stages increasing purpose
runs. admit for | afirm. that the British
new-fangled theory OF gold monometallism is
A.
their theory o. taxation without representa-
tion before i7s6. like their theory OF impress
ments for the British navy from American
ships before isi2: like their theory OF irres pom
sfble naval intervention 10 assist the disunion
OF these states .efore the Alabama arbitration
OF isTi.
1t will he observed from what has already
been stated that the permanent remedy for
our financial difficulties is return to timstal-
ism which existed prior to 1873 Ii has been
stated over and over again during the present
debate. especially in the other house that the
country has tried the experiment OF silver
coinage and that II has proved a failure, and
that therefore we should NOW return to a gold
standard
Why not try the only remedy that has not
been applieds This great and growing country
OF ours needs a much larger circulation per
capita than other country In the world.
II will not answer to compare the needs Of our
nation In this regard with the old unprogress
i've snished nations OF Europe. where the
wealth is largely controlled by few families
The insutficiency OF our present volume Of
currency seems to he everywhere conceded. and
yet there Is an unarcountable reluctance to es-
tablish permanent silver system under which
the deficiency can be easily supplied
The proposition now before congress 10 al
low the national banks 10 increase .heir circu
laiion 10 per cent-and which proposition. |
earnestly favor-is the outcome OF a general
desire for an increase Of the currency. the IN.
sufficiency Of which IVES made plainly mani
fest during the present crisis. To that PROPOSE
tion itself there Is little objection. yet there is
a spectacle presented when witness that
those who are the most clamorOus for such in
crease at the present juneture are usually hold
ing up their hanis In holy horror and solemnly
protesting against any other increase OF the
currency-especially an increase Of silver
money-as imitation when In truth both sill
yer and gold are money metals absolutely in.
capable o, imitation
I do not propose TO discuss 10 any extent the
matter OF ratios. because do not believe that
the time has arrived for its serious considers
tion. IL the existing ratio is to be changed at
all the feasibility OF which at the present time
il OF great doubt. 1t should not be enlarged.
but diminished. AID put at Is TO I. so a. 10 cor
respond with the ratio under which the silver
pieces OF the countries composing the Latin
union are coined
The enlargement OF the ratio by this country
involves the recoinage Of nearly all our silver
ct a tremendous loss or else its absolute re
tirem ent. which would be disastrous. while
reduction OF the ratio to ISL would enable Us
to recon az profit. and thus place our silver
pieces on the same plane as those Of European
countries
Mr.. Hill then pays his respects to
the presidents message:
n / believed for one mon ent that the repeal
OF the sherman Law would injure the cause 81
himctallsm and be the means OF placing o.
tending TO place the country upon a single gold
standard. should never vote for II. but would
$ earnestly oppose II a Lam now fav0rinr A.
II IS to he regretted that the president was
not moro explicit in his last utteranccs He
expressly advised the repeal OF The sherman
law and then urged other legislation as desira
BILE but he LEI. the exact nature thereof In
doubt. II was hoped that the pres idcnt. ia
view OF the provisions Of the demo
cratic national platform In favor OF
n double standard and in view OF the well
known opinions OF n large majority OF his party
in congress would have AT least spoken a kind
or encouraging word In behalf OF a return 20 bi
metallsn. IL would certainly have made the
path OF repeal an easier one and prevented
much misconstruction and bitterness Hut
while | regard such omissions as unfortu.
nate and while concedlnc that IL IL mot