The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-10-13

f7s+ II lasr the purpose of which was
"a show that the difficulties and en-
barrassments which surrounded the
first two years of Mr.. Cleveland's adj
ninistration had not been equalled in
tbe history of the government. That
these troubles were not of the making
either of the Democratic party or OF
the president. That article did not
deal with the financial question, eX-
cept by way of mention, but dealt
alone with the history of the thirty
years of Republican legislation and
1ule upon the subject of tariff. The
purpose of this paper is to supplement-
that article and to show that the
troubles arising out of the untOWard
condition of our finances are in their
turn a legacy to the country of Repub-
lican legislation and misrule; that the
Democratic party nor Mr.. Cleveland is
in any way responsible Tor the present
financial condition, and that he mas
done all that human effort could ac-
complsh with the means at his COM
mand.
Let us examine, candidly and with
view to arrive at the truth. the imam
cial history of our country which Jed
up to the embarraSsmentS Of the last
two years. and with which Mr.. Cleve-
land has had to contend and is still
contending. and find where the real
responsibility rests.
MY former article proved conclusive
" that governmental faVOritiSm in
the shape Of high protective tariffs
enacted in the interest of the classes.
not only built UP a monopoly, but
produced a plutocracy. which. finding
itself in practical control Of the gov
eminent. set about to assimilate the
financial system Of our government to
that Of the mOnarChies Of Europe.
now propose to show that in the fur
~ th0rance Of this purpose the Repub-
lean party in 1873. being in full con-
troll Of every department of the gov
eminent, passed an act demonetizing
silver. and that othe1 legislation in
that line followed; all of which was
designed to aid in the accomplishment
OF the original purpose and. which
have resulted in the very troubles
with which Mr.. Cleveland has been
surrounded.
In 1873 neither silver nor gold was
In circulation in the United States
hut. on the contrary. our only money
In use was treasury notes. commonly
called green backs and national
bank notes. The legislation OF Con-
gTess heretofore in existence provided
equally for the coinage of both gold
and silver al the ratio Of Is of silver to
of gold: and the silver dollar at that
time NS13) was at a small premium
over the gold dollar. This legisla ton
was passed by the Democratic party
in harmony with what has always
been understood to be the principles
Of the party upon that subject In
this condition Of things. and in the
year 1873 for some reason which has
never been made known to the people
of the United States. the Republican
party passed an act entirely iemone-
thing silver and making gold the
standard money Of the country I say
for some reason not vet EXPLAINED to
the country this legislation was accom-
pEshed; and I might go further and
say IN / there has as yet been no ef-
fort to give to the people any eXplana-
ton. One part OF the Republican
party, both in and out of the Con
eress 0f the United States charges
that the act was secretly passed and
by trick, and some go so far as to
designate it as the great crime of the
century. To this charge the other
part of the party replies that the
statement is false; but, as remarked
above no effort has ever been made
to show that there was any necessity
or occasion for the passage of the act
OF to give any satisfactory reason
therefor. Neither the manner in
which. nor the means by which the
law was passed is so material as the
impulse which prompted it, That il
was done at the instance Of and in
The Interest of the money power dhG
plutocracy that governmental favorit-
ism bestowed by the Republican
party had built up) the overwheImine
majority of the people of this country
believe and viii continue to believe
! beg leave. Ia proof of this asser-
ton. to quote somewhat freely from
the editorial columns Of the Salt Lake
Tribune, the leading Republican pa
per of the inter-mountain country
W nile / differ in politics from the edi
tor Of that paper I have the honor t.
number him as one Of my best friends
and if there is any man who is IA
miliar with The history of his party
especially on the money question. Il
IS ne. AS Republican he is loyal to
his party, but sometimes he goes gun.
ming aud when he does he is quite APT
TO tell the truth as no one else can.
Discussing this subject in an editor
ial in the issue of April % 1894. III,
editor of the Tribune says:
Figured down closely. it was simply
conspiracy of less than fifty bankers
beyond the sea. joined in by less thar
fifty bankers on this side. anf
corrupt so-called statesmen. awe awe
that accused money power ha.
been able TO hold this republic so1
twenty-one years in its clutches
At last praise God, tn,
crisis has come. The hungry hordes
that can get no employment art
hoekiSg toward Washington, and the
h, Is Of prey in the great cities lool
WI. dismay upon the fact that tn,
securities on which they loaned thei
money in the west are vanishing
away. and that in lieu of drawing
interest regularly they are drawins
now armies of hungry and desperate
men. s The thing is working
all right, but that does not take away
the disgrace Of the fact that tn
American people sat for twenty-on
years with their hands tied, kissin
the hands of the scoundrels and ap
plauded them whenever they hurled
their insults at those who were trying
TO tell the people where their troubl
really was
Here we have the distinct assertion
by this high Republican authorit!
) that while the minis of the govern
\ ment under Democratic Legislation
/ were open to the free coinage of botl
silver and gold, and while the silver