Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1896-09-24

I u s.
| And so it is with public officer.
You want to find out fret what you
want done, and then you want to find
out who is the best person to do that
work in the. manner in which you want
it DONE tCries of Bryan, Bryan
| and great applause. want to tell you
how we believe the work ought to be
done, and you can decide whether our
way is your way.
"The Treasury Department is an I'M
portant part of our government. 1t has
| to do with our financial system and
ask your attention to two features Of
the financial question. First, what use
shall we make of the silver dollars now
in existenceY Second, shall We have
any more silver dollars put into ex-
istenoe? In the first place our silver
dollar is not redeenable in gold by law.
Our silver dollar Is a legal tender for
| all debte, public and private. unless by
a contract expressly excluding the
silver dollar.
"Our government has right to paw
every coin obligation in either gold or
silver whenever the government desires.
Furthermore, this government has no
| gold obligations except gold notes, and
for every note there is a gold dollar,in
| the Treasury ready to pay it. This
| government has no gold bonds. This
| government has no paper outstanding
| excepting the gold notes upon which
gold can legally be demanded.
what use shall we make OF the
silver dollarP The Chicago platform
declared that the silver should be used
| just as the gold dollar iH and that the
government shall not Discriminate in
favor OF one or against the other in the
treatment OF the coin. (Great ap-
plause 55 sgs
81 speak of this because all the con-
ditions of which We complain are
brought about by the failure Of the
government to exercise its rights to
redeem it's coin obligations in either
gold or silver. III you willturn to. the
language of John Sherman in 1878,
when he was Secretary of the Treasury,
you will find that he admits that the
greenbacks are legally redeemable 10
silver.
''If You will turn to the Matthews
resolution. passed through both houses
in 1878, you will find that the resolu-
tion expressly declares that the United
States has the right to pay all coin
obligations in either gold or silver. If
you will turn to Mr.. Carlisle's testi-
mony before the committee on appro-
priations of the House of Representa-
tives on the 2lst day of January, 1895,
you will find that Mr.. Carlisle admits
that by law the government could
redeem greenbacks and Treasury notes
In silver but Mr.. Carlisle said in his
| judgment it would be unsafe for the
government to exercise that right be-
cause other secretaries of the Treasury
had established a precedent and that
precedent was that the note holders
should be permitted to designate the
kind of payment instead of the govern
ment. E
II lay this down as ground work
because my friends, the issue of
s262, 000, 600 of bonds was unnecessary.
1t was simply that those bonds were
issued because the Secretary refused to
exercise the rights given by law and
preferred to saddle bonded debt
upon this country instead Of departing
from custom. Great applause.
More than that, my friends, not
only has the Secretary of the Treasury
issued bonds to the extent of s262.-
600. 600 to buy gold, when the necessity
for buying gold could have been
avoided by the use of silver, not only
have those bonds been issued. but there
is no end to the issues OF bonds il this
financial system continues; and the
Republican party proposes to continue
the same financial system that has
cursed this country for the last 23
years tGreat applause
Let me chow you what is possible
under this system, because l have so
much confidence in the ability and
patriotism OF the people that belieye
a clear understanding OF the maDipnla-
tion of the Treasury for private gain
by the great syndicate, formed for tbs
purDose. would open the eyes Of the
people and arouse unanimous protest
against it.
"The first $50, 600, 600 Of bonds were
advertised for and the advertisement
stated that only gold would be re-
ceired for the bonds. Suppose the
man had gone to the Secretary of the
Treasury with 81, 900 in greenbackH and
Treasury notes and said to the Secre-
tary, want to buy 81, 900 OF bonds.
THE Secretary would have said:
We can't sell you these bonds for
greensbacks and Treasury notes These
bonds are issued to get gold, and
therefore we can only sell them for
gold. This man would say Well, III
you won't sell them for grsenbaoks and
Treasury notes l will just deposit the
greenbacks and Treasury notes and
nave you reueem GneIn In BOlu, i.
'The Secretary would have said:
We'll, that's what we are here for
and you would have given him the Z
81, 600 in gold.
'Then the man would say: DO /
understand that you have some bonds
for sales'
Eyes
.'.Well, here is your $1,000 in gold,
give me the bonds. (Great applause.
do you think that can be doneg 1t
can be done. Do you think it would
be done? 1t has been done. When
they issued the first $50, 0O0 600 of
bonds they drew out SIS, O00 600 in gold
to pay for those bonds and TO the ex-
tent Of SlS, 600. 900 the government had
no more gold than when it commenced.
although it had agreed to pay interest
on SIS, 600, 600 of bonds. {Applause.
IL there is any man whom cannot
understand the absurdity of that pro-
position, | ask him to ask his wife
about it. because there is not wife
that cannot tell you that it was an
idiotic tran saction. (Applause. h
Then they issue $50, 900, 600 and
drew out larger percentage of the
gold than first time. Then they made
the Rothschild contract. There was
contract by which this government sold
to a private syndicate bonds at 1.0416,
which we're at the time worth l.l9 in