Capital journal. (Salem, Or.) 1893-1895, 1894-04-30

a foreign free people, and worst of all
in utter disregard of the obligations O
honor, refuse to carry out,the pledges o
his party for financial reform, which re
fusal has been more disastrous to tn
nation than the late civil war in the de
struction Of business, the depreciation
of property and in the want, misery ant
suffering imposed upon the millions
thrown out of employment. are grave
facts so discordant with reason and alb
horrent to patriotism as TO stagger be.
lief itself and arouse suspicion of the
correctness of the popular theory that
our people are capable of exercising the
right of self government.
1t is entirely impossible TO conjecture
what national crime has been commit
ted in expiation for which our country
is compelled to suffer an administration
of government, the chief distinguishing
characteristics of which are an egotisfn
that disdains instruction from the plain
lessons of experience and a callousness
that is oblivious TO the appeals of suf-
fering people, while ii persists in wreck
ing the entire business Of the country
and booming, our heretofore self-reliant
and independent yeomanry to life of
idleness, pauperism and sorrow.
The free institutions bequeathed to us
are now on trial, but from those pres
ent Affections under the providence of
God may be educed higher and more en-
during prosperity. The plain alterna-
tive before us is impeachmento or empire,
for unpunished usurpations become
precedents fatal to free governments.
In this emergency the patriotism of our
forefathers as displayed in the achieve
ment of our liberties win again be ex-
hibited in their defense, the incubus that
is crushing our industries will be re-
moved by congress representing the
popular will, an American financial pol
icy will be established, and prosperity
and happiness. will be restored to a
nearly impoverished and disheartened
people. As wholesome lesson to COM
ing generations, the apotheosis of fraud
should be abandoned for a devotion to
principle by inflicting condign punish
ment upon refusal to regard the plain
obligations of party honor.
Conclusion.
The grand total of the national in
debtedness of the several countries of
the world is $27, ,396, 900 900, and More |
ton Frewen estimates the debts of the |
world of all kinds at $3.50, ,00o, 900, 900. If |
these debts are made payable in gold,
the worlds stock Of which, as we have |
seen, being $3,7O0, ,O00, 900, how are such |
debts ever to be paid2 The secretary of |
the treasury, in his statement for Jan.
1, 1894, gives the total gold coin and |
bullion in the country at 1896, ,905, 500,
deducting from which $80,9l6, 010 free
gold in the treasury belonging to the |
United States, would leave $3.50, ,0S9 $50
held by banks and. in circulation. The
gold holdings of the banks for Oct. 3,
1893, was STA, ,88O, ,962, leaving In cir
culation outside of the banks $411,- |
POS, ,618, or about SO per capita, |
The public Indebtedness, as computed |
from the eleventh census of the United
States, the several states, territories,
counties, municipal and school districts,
IS $2,O47, ,172,554. The population by the
same census is given at 62,822, $50,
making per capita indebtedness Of
)ver sac. When to this indebtedness is
added the vast aggregate of corporate
md individual Indebtedness, making
otal estimated $32, 900 ,000, 900, the folly
If doing business with gold alone as full |
egal tender money can be seen at o
glance.
Is it any wonder that confidence has
'een destroyed and that a panic has
wept over the land? And what has been
he result of that panic Mr.. Joseph r.
Buchanan, careful statistician, gives
he adult male population of the United
states at $4,000, 900, of which 5000, 900
re wage workers, and of these there
re now out of work 1893, 900. He esti-
mates the loss of wages to workmen for
even months beginning with Septem-
'er, 1893, at $685., ,516,4 400 and the total
Oss in this country on account of shrink
ge of wages and prices for the past year
4 s., 719, l9S,52S, which'is more than the
ost TO our government of the last war
which was s., 700, ,0OO, 900.
All of this immense national less "a
he direct and Legitimate result of al
owing foreign capitalists to dictate our
nancial policy. Their gold can now
urchase nearly double what II could
our years since. One hundred and
ighteen years ago when our fathers re.
elled against the crown and parliament
Great Britain, the only tar imposed
pom the colonies was a trihing tar ON
"a. Now the financial lords OF Great
ritain are taxing our whole people by
leans of'the single gold standard out Of
ar liberties and our homes.
Is 1t not high time for another rebel
ON against British ruler A third OF a
sntury ago, the nation sprang TO arms
nd an enslaVed race was set free. Shall
o not now muster at the ballot box and
berate our whole people Of ali races
ON our present financial thralldomf
On New Years day, of this year, The
apital journal Of Salem was delivered
my Office. II contained most abuse-
e editorial against me ON account Of
y Christmas letter 20 Cleveland. III
Ier performed one conscientious. act IN
y life that was one. And told the
nth and for IL Was abueed nv naarlv