Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-08-01

- That during the first century of our ma
tional life both metals had free entry to the
minis of the United States. but the silver dol
lar remained the legal unit of value.
II. That the so-cailed characterization clause
in the act of 1873. if not SurrepttiouSly insert
ed and passed, was passed without the knowl-
edge of a large majority of the senators and
representatives then in congress or of the
president of the United States: and also with
out the question having been in any degree dis
cuSSed before and passed upon by the people"
No fair or truthful man, at all familiar with
our financial history can dispute these propo-
sitions. Another thing: In all fairness it
ought to be admitted, for it is true, that from
the discovery of the fact of decentralization.
hid secret in the act of 1873. up to 1885, the
democratic party was universally regarded as
the uncompromiSing opponent of silver de-
monetization and favored restoring it to it's
former rights in the mintage of the country.
The democratic party was the champion of
actual. practical bimetalliSm, and hence of
the immediate restoration of silver coinage.
On the other hand. the republican party stood
forth the opponents Of the democrats on
this question From the days OF Jefferson to
the days of Cleveland the democratic party, as
a political organization, advocated the free
coinage OF both gold and silver. upon equal
terms. and upon such ratio as congress might.
from time to time, determine, with view to
keeping Soth metals in circulation at a parity
In 1855 some three months after his first
election. Mr.. Cleveland in letter to Gen.
Warner and others. gave notice to congress
and the country that he was not in sympathy
with his party on the silver question. Then
began the first serious difference between
democrats on the subject OF silver coinage.
From that day forth Mr.. Cleveland. aided by
New York and New England fnancierS, has
sought to lead the party away from its ancient
policy upon this question, and to bring it into
line with the financial ideas advocated. first
by the old federal party, then by the Wings
and finally by the republicans. This is the
simple truth of history, and it ought not to be
denied This remarkable exploit of the presi-
dent has forced \ most unforsaz6se controyer-
sy upon democrats within our own ranks.
Because of Mr.. Cleveland hostility to silver
coinage I openly and publicly opposed his
nomination in 1892 In March of that year. in
public speech delivered at Jefferson City,
declared my opposition to his nomination on
account of his financial views, and expressed a
fear that if he should be nominated and elect
ed he would divide his party from one ocean to
the other. Nonetheless, after his nomination,
I yielded my own views and supported him
with the utmost loyalty and vigor. We were
all told that the tariff was the question OF
superior and immediate Importance, and that
we must let the money question alone for the
present. And so we accordingly subordinatcd
our views on the money question, repressei
our apprehensions. trusted our leaders. fell
into line, fought great battle and won a
splendid victory.
Tariff legislation even has proved disap-
pointment. Hardly had shouts of victory
died away before the air was heavy with
whispers of conservatism The tariff was
relegated to the rear.
THE SHERMAN ACT.
Congress was convened in special session and
commanded to enact a law Internationally re-
pealing the Sherman act, which, undesirable
as it was. was the only statute then in ex-
istence authorizing the coinage Of a silver dol
lar The friends of silver coinage, or BIZ
metallism. and the two things necessarily
synonymous were willing to repeal .the Sher-
man law, for they had voted against it. pro-
vided the Bland act or something better. or as
good, could be enacted in its stead. They were
unwilling to wipe every veStige of silver 1egis-
lation from the statutes But Mr. Cleveland
ann Mr.. Sherman. who acted in constant and
close cooperation, would have nothing Shor.
of unconditional repeal, and they were sue
cesSful.
During that struggle we were told that Mr.
Cleveland was really in favor of bimetallism
and that soon as the obnoxious Sherman
law was out of the way he would inaugurate q
financial policy favorable to silver Legislation
and better currency system That hope
however was soon blasted by his veto of The
bill to coin the silver seisniorage. and by an
nouncing the purpose of the government to alb.
solutelS waive it's option to pay it's currency
obligations in either coin. This new policy
made every obligation of the United States
payable in gold at the option of the holder, al
though vast sums were, by the terms of the
law and the obligations themselves payable IL
either coin, at the optIca Of the government
The laws of congress were set aside b;
the order of the PRESIDENT. and we were
brought at eace not only to a single
gold standard. but to practical golt
recommendation. The immediate result wa:
disastrous panic. And to maintain this new
system of finance the treasury of the United
states has been put under the guardianship O
New York bankers, who have made millions O
dollars out OF our taxpayers in negotla;in,
bonds sold by them to maintain the gold re
serve in the treasury.
Is 1t not remarkable that an administrator,
for which you and I, in common with our dem
ocratic brethren throughout the country ar,
responsible, should have brought all tai
about: For more than ten years we opuose,
the republican party. under the leadership o
Senator Sherman, in its effort to establish COL,
recommendation. What John Sherman coui
only partially accomplish. and had almos
abandoned b cause of our sturdy opposition
Mr. Cleveland. the man OF our own choosing
has put upon u.s.
Shat. we accept from Cleveland wha. W
spu-nct; frcsa the hand CT sherman. is .,
recommendation any better or worse whether
is accomplished under one man another
When think of all TIE battles have Tough
by the side Of my deui~,cratic brethren here i
Missouri against tbs thing. am amazed.
can scarcely realize that 1t is to-day a questio
In this state whether the democratic part
shall henceforth stand for silver against /
I deny Mr.. Clevelands right to commit tn
democratic party to this policy. Aye, more, Z
DO entirely candid. regard his effort to do 3
rs an act of bad faith and q betrayal of million
of his fellow citizens who trusted him and sur
ported him
POLITICAL PARTIES
Whether gold monSmctallism OK btmatallis,