Mississippi leader. (Jackson, Miss.) 1892-1895, 1894-10-16

employed, alike brain workers and hand
workers-are paying an ever increasing
tribute to tho drones.
The Glasses Benefited by Low Prices and
Dear Money.
When people see that general prices are
falling and think it an advantage, they
do not perceive the enormously important
consequences lying concealed in the fall.
They do not perceive tho converse of the
roposition-namely, that what is really
happening is that money is becoming
dearer. To say that prices of property and
commodities are coming down is to say
that money is going up. The only classes
benefited by this-and they arc benefited
unjustly-are the classes that have lent
money at interest and arc living on fixed
Incomes. Their only products being
bonds, mortgages and money, they gladly
sec these rising in value by the fall of gen
oral prices, to the extreme dctrimcnt of in
dustry and commerce.
To my mind, therefore, the very keystone
Of tho arch of national progress is a sufli
cheney of money, and for this country q
"sufIiciency' means constantly incrcas
ing quantity. Without such increase all
tho factors that go to make up this great
arch must tumble in confusion to tho
ground. In tho presence Of q money fam
Inc the most consummatc craftsmanship
and the most intelligent business foresight
are more helpless than in tho presence of
an all pervading and consuming pestilencc,
for the horrors even of pcstilence may be
mitigated and it's ravages staid by the
manifold assuaging offices and all com.
manding power of money. For the alb
sence of money nothing avails.
To attempt, whether with or without n
tariff, to secure national prosperity with
out sufficient quantity of money is to at.
tempt to float ships without q proper
depth of water or to conduct passengers
and freights over railroads without sufi-
cheney of engines and cars or even q suni-
cient number of rails to constitute a con.
tinuous track
While, therefore, not understanding
the Importance to the country of full rec
ognition of the protective principle, hold
that tho tariff and all other issues arc in
the nature of the case subordinate to the
great and farreaching question of the
money supply. In this conviction l be-
lievo the people of Nevada to q man-and
to a woman-are heart and soul with me.
So long as the party to which l have
heretofore belonged was moving in the di
TCCllOl VI ii oOluUlOll VI UhC SlCho
problem by giving the country steady
increase in the quantity of money was
bound alike by personal conviction and
by duty to my constituents to give that
party my support Although l did not
believe the amount of such monetary in
crease to be sufficient to overcome the ever
intensifying contraction set on foot by tho
demonstration of silver, I was willing to
take, for the time, the best that could be
got and await the maturity of what
hoped was a growing disposition on tho
part of the Republican party to finally
place upon It's banner tho motto of free
coinage of silver and gold, without dis
elimination, at tho long established Amer
lean ratio.
Responsibility For Industrial Dry Rot and
Compulsory Idleness.
Tho situation is wholly changed when
the Republican party revcrscs the policy
which for Is years it had maintained and
by its official vote in both houses of con-
gress relegates the country to the single
gold standard, with all that that implies
of industrial dry rot and compulsory idle
ness among the people While it is true
that the Democratic party must share
with the Republican the responsibility for
that act, am concerned only with the
share taken in it's passage by the party to
the success of whose policies have de-
voted the best years of my life. The Re-
publican representatives in both houses of
congress constituted the strength of the
repeating party, both in numbers and in
intellectual force. Without a majority of
the Republican votes TO aid the Democratic
administration there was never one mo-
ment when the bill could have been passed
For me, in my long maintained and solac-
ing political affiliations, the position thus
assumed by the Republican party is
grievous change, and so far as l am con-
cerned brings us to the parting of the
ways. To my profound regret, l can no
longer be of the household of the party
which brought freedom to the slave and
preserved the union of the states. Tho
great party which could unfiinchingly face
the slave power does not dare attack the
money power.
After the fatal error of 1878 the Rcpub-
lican party, by tho passage of the act of
1878, took step in the direction of repara-
ton for the wrong it had committed
against the producing masses of the coun-
try. In 1890 it took another step in the
same direction-a step which, owing to
the defective execution of the act of 1878,
was an advance upon that law. But by
the passage of the act of 1898 all tho hopes
born of the two former acts have been
scattered to the winds.
Having always deemed the demonctizing
law Of 1873 to have been enacted in igno-
rance of the baleful effects which it would
have upon the prosperity of the country,
have been disposd rather to award to the
Republican party all proper credit for tho
two successive attempts made in tho direc-
tion of undoing that wrong than to mete
out censure for committing 1t. cannot
secure the approval of my conscience for
similar degree of lenity with regard to
the enactment of the law of 1893.
On the demand of a Democratic presi-
dent the Republican party repealed the
most important-in fact, the only impor-
tant-feature of an act passed by their
own votes exclusively and approved by
president of their own election. At the
dictation of an administration adverse to
them we see them deliberately abandon
their silver record, undo and implicitly
condemn and repudiate all that they have
themselves done in this regard for many
years in the past, and at one bound set the
country back to the point at which it was
left by the act of 1878. So far as concerns
the interests of the American people, the
repeating act of 1898 was, in my opinion,
less justifiable and involved a greater de-
gree of moral and political turpitude than
that Of 1873. In 1870 we had population
Of but 8S, 900, 600. We have now 70, 000,-
OOO nearly double.
The False Cry Behind the Special Session of