Mexico weekly ledger., 1895-10-17

of two hundred million in circulation,
when the war closed, of irsedeemable pa
per money, she issued first 800. 600, 900 and
then $500, coo. 900, until the amount reached
$500, 900, 900, and France never ceased her
payments until 1878, five years after, when
she paid the last of the billion dollars.
France closed specie m because
Germany and England struck down silver
and went to the gold standard. France
adopted directly the opposite system of
the people of the United States and Eng
land, prosperity came to her, and her peo-
pie were enabled to carry on foreign com"
merce to pay the billion dollars she owed
to Germany. and it showed distinctly and
emphatically the difference between the
systems of expansion and contraction.
But / am asked If / desire imitation of
the currency without limit and irredeema-
BILE paper circulation. OF course not. 1
am a bimettaliist, in favor of gold and sill
yer as money of redemption and of suffi-
cient volume Of gold, silver and paper pay
able In these metals to relieve the coun-
try from its present financial condition
and congestive chill, which has filed the
oity banks with money and left the bal
ance of the country without sufficient cir
culation.
The banker are clamoring against the
RECOMMENDATION of silver because 1t would
make money abundant and diminish their
power. They are like the selfish farmer
who prayed that he might raise an enor-
nous crop and that his nsighoors might
ralse morning. 50 as 70 enhance .the prfee
"a 4Ai5 SahSNo ~ AA NV $500
coinage of silver because it will increase
the volume of money, put new blood in the
stagnant veins of trade and bring light
and joy to darkened homes. L am IN FAVOR
of 1t because it wifi break the tyranny of
the money lender, loosen the bonds of the
debtor and bring back hope to the desper-
ate. 1t will give prosperity to our whole
land. No civilized people have ever been
or can be prosperous with an increasing
population and a decreasing volume of
money. Money is the life blood of ~civiliza-
ton.
Respects to Cleveland.
No one regrets more than myself the
division now existing in the Democratic
party upon the question of silver coinage,
| and no one has labored mere earnestly to
avert the conditions that now exist. /
nave always advocated the free and I'M
limited coinage of silver at the ratio of
10 to l, but I supported Mr.. Cleveland for
nomination and election in 1892, notwith-
| standing his views on the silver question,
| because I believed he had been a martyr
for the cause of tariff reform, and /
thought that In order to preserve the or
ganization and efficiency of our party he
| would meet, in a spirit of compromise,
| those who favored the coinage OF silver.
Besides this. I had no doubt, after his
acceptance of the nomination upon a plat.
form which declared for the coinage of
both gold and silver, without discrimina-
ton against either metal, that he would
do all in his power to bring about that
! result.
Although I favored free coinage at the
ratio of 16 to l, / went to Mr.. Bland, at
Mr.. Cleveland's request, to ascertain IL he
| (Bland) would agree to the -re-enactment
of the Bland-Allison law as a compromise
Of conflicting opinions. but when l re-
turned to the president with BANDS re-
luctant consent, I found, to my surprise,
that the executive mind mad concluded
that nc compromise was possible and that
| the coinage of silver under existing condi-
lions was dishonest.
In the subsequent conflict over the Sher-
man act, I reported from the senate
finance committee, with the approval of
my democratic colleagues, a bill provid-
silver at the ratio of 20 to /, and this was
done to test the sincerity of those who
declared that they would support free
coinage If more silver should be put into
the silver dollar.
Apprehensfve that this bill might pass,
and determined hat silver should not be
value of gold. Mr.. Carlisle addressed a
letter to Senator Voorhees,. chairman OF
the finance committee, giving elaborate
statistics to show the common expense OF
any change in the ratio, and protesting
against the measure, We offered every
possible compromise to the administers
ton, but in vain. Their friends in con-
gress voted down, free coinage at any ra-
ito, and then the proposition to re-eDact
the Bland-Allison act of 1873.
The president refused to give his assent
to even the limited coinage of silver, and
so we stand to-day confronted with the
alternative of the single gold standard or
render, il left alone on the field. nor VIII
I be driven out of the democratic party.
to which / have belonged all my life, and
in whose faith / shall die. l believed in
10 to then, and I believe in 1t now and
shall go down fighting for that ratio.
As TO Driving Ont Gold.
But we are told that gold will leave the
United States. We were told the same In
1873. II we had free and coin
age. we were told the Biand-Ailison bill
1 mould ha knaoEad ont and gold would
never return to our shores. We passed
that measure. What was the resuitY 1
Will not weary you by reading fgures.
but from 1878, when we passed the Bfand-
Allison law, to 1891, when 1t was repealed,
the gold in the United States treasury In
creased from $40, 000,04 to $40, GOO, 600, not
withdrawing the prediction of Mr.. Shsr-
Gates. In round numbers sao0, 0Go.o 900 came
TO the treasury of the United States after
the demand for unlimited free coinage.
and yet we are told now that gold VIII
leave this country IL we adopt free coin
age. Why will IL leave here7 Where VIII
II go? WIN 1t go to Europe. where they
have all the gold they wantf
Why take II there. away from the United
States? Why should 10 go TO a premium
! above silver where silver will buy as much
and pay as many debts as gold9 Can any
mar tell me why the capitalists, VINO gre
boarding gold to-day, would put 1t az .
premium, and where would there be prom,
to them IL they did? This country to-day
Is suffering from q financial congestive
chill. The blood has all gone TO the head
and heart, but not to the body. The banks
are full OF money. What would be though
Of the physician who was called in to at
tend a man with that deadly malay, q
congestive chill, who should put Ice water
to the extremities, and make the head hot
ter and increase the action Of the heart
Why, he would he butchered as a quacl
and a charlatar. The country Is suffering
from congestion. and money is worth nov
In New York 1 per cent, but It cRnIrot b.
borrowed, except upon New York rea
estate or personal security.
I know, personally, that Is the case IN
this State, where the people fransac theil
business on q contracted currency. why
is this so IN a great country like this
Where Is the s25.W per capita? Why Il
1t that where there Is plenty of money I'll.
country is richer7
Yes, my friends. Turkey was richer fol
a hundred years OF despctisfn n out
rage. II is richer to-day after long agel
of tryanny and oppression and ~despotisna
But where Is ths money! Is IL in circula'
ton among the people? II il boarded b
fha eoyernment. II Ia In tina nau5S at tn.