The midland journal. (Rising Sun, Md.) 1885-1947, 1895-03-22
LIVE ISSUES.
Senator Stewart on Gold Bonds.
CONCLUDED

1t is said that we must restore
confidence. How can confidence be
restored when the fact is demon
strated that it is impossible for us
to maintain gold standard without
borrowing? How can confidence
be restored with 81 100, 900, 900, in
round numbers, of paper and silver,
all of which, on the theory of the
department, must be redeemed in
gold, and with no means of obtain
ing gold to redeem it except by Dor
rowing it and paying premium on
it? That is the reason why bust
ness men dare not move. They
see this vast volume of currency to
be redeemed in gold with no gold
for redemption. Prices will go
down. Confidence will not be re-
stored while we are engaged in this
vain effort to obtain gold by Dor
rowing.
To me this is the darkest period
of our history. 1t seems to me to be
the turning point, for if we go on
borrowing money the time is not
far distant when there must be a
crash such as the world has never
seen. In the meantime, if this
process can be sufficiently prolonged
and property put down lower and
lower. as it must be, and times
grow harder and harder, as they
must under this process, the time
is not far distant when there will be
great discomfort. There will be
uprisings of the people, and the
military will be called upon, as it
was last summer, to enforce the
laws.
Order must be preserved; the
peace of society must not be dis
turbed. We all agree that we can
not endure the upturning of society.
Consequently the military arm will
be used, and when the military
arm is used on a large scale, as it is
bound to be in the near future to
suppress discomfort, you will have
a military dictator. We are NOV
ing on in that direction with such
speed as no other country ever did.
We are moving on to destruction.
On gold basis without gold, which
is our situation unless we pay a
premium on it, and large one,
when our ability to pay premium
ceases, when our credit is destroyed,
moving on in that way gives no
hope to any patriotic man.
1t must be remembered that it
has been we'll said that starving
men will not maintain republic.
This republic rests upon a free and
independent people. Individual
prosperity is at the bottom. Take
away individual prosperity, destroy
opportunities for enterprise as you
are now doing, and the time IS not
far distant when your republic
must cease. No liberal government
of any kind has ever been able to
withstand the condition to which
we are approaching. A few rich
and the masses impoverished is a
condition which marks the end OF
republican institutions. Liberties
of every kind have fallen before
such conditions. They have arisen
in every liberal government. In
every government where the people
have once had freedom similar con.
ditions to those which confront us
preceded their downfall. The few
became very rich, the masses very
poor, and despotism became the
rule.
Now, independent of the disc
bedience of law, independent of thu
fact that Congress has never sane
toned the conduct of the Treasury
Department as it is now conducted
the fact remains that the Congress
of the United States is responsible
to see to it that we do not move
further in this direction. You may
talk of trusts of various kinds
While this grand trust, which il
the money Of the world, controls
you have a trust that is create
than the government, trust tina
is greater than all trusts. trus
that absorbs all trusts. Othel
trusts may act in conformity to it
The railroads are at the mercy o
the money loaning classes. The,
are bonded for an enormous amount