The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-11-26
VEST OF MISSOURI.
He Rebukes the Cleveland Incense-Burn-
ers-There is Danger Ahead for the
Democratic Party if it Yields to
ro-0romisA
New York SUM-

$SAE
New York SUM-
WASHINGTON. Nov. 10. Senator Vest,
Of Missouri, publishes an interview IN
the evening newspapers, in which he
undertakes to explain the DemocraGlc
defeat at the recent elections, and
makes some interesting statements as
to President Cleveland's responsibility
In the matter. He says:
1.-The elections resulted as they did
Tor the following reasons:
First, continued hard times, caused
by scarcity Of money. The gold men
claim that money ls abundant, and
quote from the treasury reports to
prove it. They say there Is a per capita
circulation of $25 OF, when, in TACT,
there Is nOt half thai sum. They count
b reserves in the National and State
banks, together with the bullion and
gold IN the treasury, and the 5000, 0O0,-
goo OF gold coin, which they estimate
to be In circulation. When confronted
with the fact that there is no gold in
circulation they reply that this is true,
but that 1t answers all the purposes of
currency by taking the place Of cur
rency IN q way of reserves aud tx
change. This is not a satisfactory an
sWer, for every intelligent man knows
That the gold OF the country, no matter
what the amount, is boarded bV reason
OF the fact that under existing laws it's
purchasing power is constantly in
creasing.
I'VE will never have pr, sperity until
there is free coinage of silver and
volumes of money is increased. No
country can be prosperous with an in,
creasing population and decreasing Cir
culatiOn.
The United States is now suffering
from financial congestion. What
money we have is in the great banks
and money centres and will stay there
so long as we have the single gold
standard. Business, except in a few
industries, is stagnant. Everybody is
afraid to go into new enterprises be
cause prices are falling. The gold men
seem unable to understand the differ
ence in the effect upon a country of
low prices and falling prices. Low
prices, when fixed, may be a blessing
to the masses, but falling prices para
lyze business and ruin all classes except
the money lenders.
I'm the agricultural States the pre-
ducts of the soil are below the cost of
production. Corn is worth in many
parts of Missouri Is GEMS a barrel,
while oats and wheat do not pay the
farmer for his labor and seed. Beef is
controlled in price by the Chicago
combine, and the supply by no means
controls the market.
Second, wereceived from Harrison's
administration a practically bankrupt
treasury, with continuing appropria
tions from the Reed Congress of 1920
600, 600, and Cleveland entered upon
his second term handicapped by these
conditions and the beginning of a great
panic.
Even then we might have wealth
cred the storm but for unfortunate and
ineradicable differences in our party
upon the financial question and the
tariff. I do not care to discuss these
differences in detail.
The President unfortunately re
jected all offers of compromise from
those of us who differed with him on
silver, and refuss d positively to 8 the
power given him by law to rebuke the
gold spectators and protect the gold
reserve by rendering silver even as
part payment when greenbacks and
Sherman notes were presented at the
treasury for redemption. I believe
Carlisle at one time contemplated such
action, but the President, who just be-
fore his inauguration talked reasonably
and cons8rvatlvely, suddenly became
obdurate and ordered the payment of
gold exclusively. This, of course,
placed the treasury at the mercy of the
SPECTATORS, and the logical result was
the veto of the se'gniOrage bill, the
issue of gold bonds, and the paying
tribute to a foreign syndicate.
1.-THE President, surrounded by a lot
of incense burners, who told him he
could do no wrong, demanded an un-
men in Congress, and that the volume
of money should be reduced $40, 600, 900
annually by repeating the purchasing
clause of the Sherman act without put
ting in the vacuum so created In
other words he demanded that we
should endorse the single gold standard.
The same incense burners are now
telling the President that the recent
elections demonstrate his foresight,
and one of his Cabinet has come out in
an interview gloating over the result.
No one differed more than myself with
Brice and German on the present tariff,
and | supported the measure as it
pd6SCu Ohly OOCouSO ~ was OSUUSI Gudu
the Mckinley act. 1t is only just to
say, however, that but for the assur
anCe of the President and Mr.. Carlisle
to Senators Harris aud Jones that
some bill must be passed, Mr.. Cleve-
land never would have had the OppOr
tunity of branding the act as treachery
to the party. Whatever else may hap
pen, the time will never come when l
can rejoice in seeing the Democratic
flag trampled under foot, 40 matter by
whom it Is borne. l am not that kind
of a Democrat"
On the subject of the re organization
Of the Senate, Mr. Vest made these
characteristic remarks:
Personally l would be glad to see
the Renublicans take control They