The herald., 1893-08-03


rec coinage of silver. Congress neve
aad been able to enact such law be
,ause the president, whether Repup
ican or Democrat, has always beel
dominated BY Wall street and stoo'
,eady 10 interpose his veto, equal to
iwo-thirds vote in both houses OF con
.ress. The effect OF the gold bug con
piracy which has denied free coinage
10 silver since 1873 has been to increase
ihe purchasing power of money, or. Z
sut the statement In another form, q
decrease the value of all commod
Aies. Abraham Lincoln said: III {
tebt is created with certain
amount of money in circulation, anc
hen the government contracts tnt
money volume before the debt is paid,
{ is the most heinous crime which the
government can commit against the
people," ssand that" said Governor
Waite, sis exactly what this government
has been doing since 1873. Congressional
egislation and nothing else has reduced
The price of silver bullion from 81 ;32
per ounce in 1873 to 20 cents in 1898,
md legislation for which the two old
parties are equally responsible has re-
iucsd the price of wheat in the same
time from 81 Al per bushel to 53 cents.
rhe same legislation has reduced the
price of cotton from 1873 cents to rs
tents in the same time. The ratio OF
The value of silver as bullion, compared
With the gold dollar, has been increased
from Is to / to 2215 or "a to /. 1t has not
pnly diminished the value of silver bull
Hon, but also diminished in almost the
lame proportion the value of wheat,
.orn, pork, beef, cotton, and the wages
sf labor. We hear much about over
production. the law of supply and de-
mand, ETC., but with single standard
gold men of Europe, who have the reins
In their own hands, there is not the
,ame necessity to lie about it and no dis
honest attempt to dodge the issue"
Waite then quoted from speech by
Balfour at Manchester, in which he is
luoted as saying: ''The gold monetary
standard in Is or 16 years has gone up
no less than so to 35 per cent, and as to
ts further rise in value no man can set
the limit"
Not long ago, said Waite, Gladstone
Has told by Mr.. Thompson in the Brit
lsh parliament that the gold standard
was crushing out the agricultural and
commercial industries of England by
compelling business upon falling mar
ket, the debtor class being reduced to
Industrial slavery, and the taxes OF In
dia, while nominally the same, forced
from In aia double amount of her pro-
ducts which few years ago paid the
tax.
Gladstone unblusingly declared that
England. as o creditor nation, could
Jnff IN
the value of credits, and added that
governments were not concerned about
philanthropy. Considering the condi-
tion of the masses in England and In
dia, Waite said, this was the most
brutal remark since Cain, with the
blood of his murdered brother crying
from the ground, insolently asked the
Almighty, '.Am my brother 8 keeper?"
Waite denied that in the broad
since silver is local question, and said
he could prove from official statistics
that the loss to the agricultural states
from the scarcity of money was in good
part occasioned by the refusal of free
coinage; in each state in the Mississippi
valley the loss is from ten to twenty
times the loss sustained by Colorado.
The proposal by the false friends of
silver and their allies in Wall street to
adopt the present price of the bullion
silver, as compared with gold. as the
money ratio, would simply crystalline
all the wrongs and injuries the money
power has inflicted upon the people ior
the past 20 years. This as a compromise
beats .ne one the devil proposed to Jesus
Christ on the mountain.
Waite said that an international con-
ference forsthe purpose OF settling our
money affairs by the dictation of the
foreign money power. is the most con-
temptible and God-forsaken idea that
ever entered the brain of an American
citizen. ''If we have become, nnder the
rule of the two old parties, only prov
tnce of the European monarchies, then
we need another revolution; another
appeal to arms and to the God OF hosts. "
This evoked great applause.
In closing the governor said: "Who
is Grover Cleveland and who is Benja,
man Harrison, and who are their cup
porters in Wall street and Chicago, that
they dare assume to drive into poverty
and exile half a million American free
men2 There is no use of crying peace
when there is no peace. Ths most dan.
gerous tyranny ia that enforced under
Ehe forms of law. Our weapons are ar
gument and the ballot-a fres ballot
and fair count. If the money
power shall attempt to sustain
its usurpation of our rights
by strong hand as in other lands, VIZ
will meet that Issue, if it is forced upoI
US. For it is better, infinitely better
rather than that our liberties should b'
destroyed by the tyranny which is OPP
pressing humanity all over the worlt
that we should wade through seas o
blood-yea, blood to the horses brl
dies"
BLAND'S LIEUTENANT SPEAKS.
Ex. Congressman Pierce of Tennessee
who was BANDS lieutenant in the las
congress, was greeted with great enthu
siam and proceeded to arraign Presiden
Cleveland in a vigorous manner. ii
began by asserting that Democracy hat
no hand in demonetizing silver, since il
1873. when it was demonetized, tn
Democratic representatives from tn
south and west, constituting an over
whelming majority of the Democrats Of
the floor of congress, did, and hav
every time that free silver has been pre-
sented, cast their votes in the interes
Of the people, overwhelmingly for fire.
silver.
A voice from the audience cried
"What will Cleveland do?"
tCleveland does not represent tn
Democratic party" quickly retorte
Pierce, and then the convention brok
loose. Men jumped to their feet an
eheered, while hundred voices yelled
"That's go; he represents Wall street.