The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-08-12

riod. All profit, he held, had been
wiped out BY the existing business de-
preston. The ex-senator continued
that the gold standard countries were
in an abyss Of industrial misery never
experienced In century as n result of
their present condition of prices, while
the silver standard countries were com-
parstively prosperous. w
Gov. Waite, of Colorado, was the next
oratorical star. His advent had been
impatiently awaited, and when he ap-
peared upon the platform the audience
fairly went wild. The venerable gov
ernor started out with the broad asser-
tion that majority Of every congress
since 1878 had been in favor Of restor-
ing the free coinage Of silver, but had
never been able to enact such law be-
cause the president, whether republican
or democrat, has always been domina-
ted by Wall street. AMI stood ready to
interpose his veto. But the people
were to rise superior to their party and
override the power behind the throne.
1t was as true now as it was 1900 years
ago that we could not serve God and
mammon.
"The late national platforms of both
the republican and democratic PARTIES"
continued the speaker, had planks in
favor of bi-metallism. But both parties
now agree in the repeal of the Sher-
man act, which practically means the
single gold standard BY the patron
age of the president and the usual cor
rupt methods Of Wall street, the money
power has probably already secured a
majority in both houses of congress.
This attack upon silver can only be
beaten back by u determined and un-
compromising opposition.
1t was not until 4:20 that the COM
mittee on resolutions marched up the
aisle in tow of 1gnatius Donnelly. The
audience was more than ready and the
Northwestern sage did the reading in
his well known forcible style. This is
what he read:
Whereas, Bimetallism is as ancient as human
| history, for certain more than three thousand
| years, gold and silver came down through the
ages hand in hand, their rela tions to each other
having varied but. u few points in oil that vast
period OF timo and then almost invariably
through legislation; and
Whereas, The two metals are named together
| indissolubly united, in the constitution of the
|
| try, placed there by George Washington
| Thomas Jefferson. John Adams Alexander
| Hamilton, and subsequently indorsed and de
Tended by Andrew Jackson and Abraham Lin
| coin; and
| Whereas, Silver, one Of these ancient metals
was in the year 1873, without any previous de
mand by any political party and by any part o.
the people, or even by any newspapers, ant
| without public discussion whatever, stricken
| down from the place IL had occupied since The
days Of Abraham and the Pharaohs under cir
| cumstances of such secresy that Allen G. Thur
man. James Beck, James Stewart Daniel Voor
| hees, James g. Blaine, then speaker of tn,
house; James A. Garfield, William D. Kell,
nnd others present and voting for tho bill, OF
senators or representatives, subsequently re
peatedly and publicly declared that they did NO
know until long afterwards that so grave ant
great change had been mado In the flnancia
system founded by the fathers Of the republic
and
Whereas, Tho debates In congrcss show tina
the parentage OF the measure was in par
ascribed by the friends Of the bill, tn one Ernes
Seyd, London banker, who It Is claimed wa
sent over to Washington by the moneyed classe
OF the old world to secure its passage by secre
and corrupt means and
Whereas, President Grant, who signed tn
bill, declared long subsequently that he did no
know that 1t demonetiZed silver; and
Whereas, The purpose OF this attack upon on
OF two ancient precious metals of the world wa
by striking down one-half the money supply
to-wit silver, to double the purchasingpowe
Of the remainder, gold, by making it tho equiv
alent OF everything possessed or produced b.
the labor OF man; thus reducing the price OF nj
commodities; arresting enterprise; impoyerish
ing the toiler and degrading mankind Tha
these results were not only inevitable but fore
seen, appears by the following Language, use
ut that time, by tho then president OF the banl
l of France, who said: III by stroke of the pei
they suppress one Of these metals, in the none
tary service, they double the demand for thu
other metal, to the ruin Of S1l debtors" And
Whereas, Ths awful consequences. thu
prophesied are upon the people Of the who'll
world We stand in the midst OF unparallele
distress. and in the shadow Of impending alan
tiles, which arc beyond estimate. Tho ruin
industry OF the people who inhabit one-third Q
the area of this republic has been stricke
down. property values destroyed and the worl
men compelled to fly as from pestilence. Every
where over this broad land, the honest toiler.
numbering hundreds of thousands have bee
thrown out OF employment and will have to Gu
tho bitter bread Of charity or starve; the proc
ucts Of industry, Of the farm and the workshop
|, have deprecated in price, Us shown by Ofiicis
and public statistics until production ceases
be profitable; the money OF the country, made
Quste for the business of the land has gravitt
tod to tho banks; while the people distrustin
the banks have demanded their deposits {
hoard or hide them; mercantile houses are g
ing to the wall by thousands because th
| masses have not tho means for even tho neces
sites Of life
Whereas, Hon. James q. Blaine, quoting th
utterance, adds: "On the much vexed nnd Ion
mooted question of bi-metallic or mono.meta
lie standard my own Views are sufficiently ind
Gated in the remarks have made believe tn
struggle now going on in this country. and
other countries for single gold standard, woult
. II successful. produce widespread disaster
and throughout the commercial world. The 4,
struction OF silver as money and establshin
gold as the sole unit OF value, must have ruiz
GUS efIect on all forms of property, except thos
. Investments which yield fixed returns in none,
These would bc enormously enhanced In valu
and would gain disproportionate and unfa
advantage over every other species OF propert.
II, as the most reliable statistics affirm ther
are nearly s7O0O COO 900 of coin or bullion In til
world, nearly very equally divided betwee
gold and silver, 1t is impossible to strike silve
out OF existence, us money, without result
! which will prove distressing to millions and u
terly disastrous to tens Of thousands"
Whereas. Senator John Sherman. Of Ohi
who more than any other man Is responsible fc
the demonetization Of silver, clearly underst0o
; the evil consequences Of such curreacy belo
, legitimate demand Of the business OF the coul
, try Us evidenced by his remarks Ia the senate
: 1862 to-wit: 1.-THE contraction OF tho currenc
is o far more distressing operation than sen,
tors supposed. Our own and other nations hn
gone through that before It In not possible
take that voyage without the sorest distres
To every person. except capitalist or 50
nried officer. or annuitant, II is period of los
danger. lassitudo OF trade fall Of wages, su
pension OF enterprise, bankruptcy and disaste
1t means the ruin Of all dealers whose debts OF
twice their business capital, though ons-thil