Evening journal., 1896-07-08
TURN DOWN HLL
Continued from Third Page.


plus Of 500 ooo,uoo in the Treasury was con-
verted into deficit Of $4,000 600 in 1904. and
engraved bonds, prepared by Republican sec
retary. to borrow money TO support the gov
ernmont were the i'll omen of the programmed
ruin that awaited the incoming Democracy.
Moro signiheant. stilh the very authors of
the III starred Sherman law makeshift were
already at confessional upon the stool Of peni-
tence and were begging Democsata TO help
them to put out the confederation Of disaster
that they themselves had kndled.
SO far as revenue to support the government
Is CONCERNED, the Democratic party. with but
slender majority in the senate, was not long
providing it, and had not the supreme court
of the United States reversed It's settled doc
trine Of 100 years the income tax incorporated
In the turif bill would long since have Rbun-
dantly supplied It.
Respecting finance, tho Republicans, popn-
lists and Democrats, while differing upon al.
most all other subjects, had united in 1892 in
uccoring for the restoration Of our American
system of bimetallism. By Republican and
Democratic efforts alike, the Sherman law was
swept from the statute books
The eagernees 60 rid tho country OF that Re.
publican Incubus was so great that no pru-
dent effort was made to provide substitute.
In the very act of the Sherman law repealed
itwas declared to be the policy Of the United
states Of America to continue the use Of both
gold and silver as standard money and to coin
them into dollars Of equal Intrinsic and ex-
changeabe value.
The Republican party has now renounccd
the creed OF its platfc~m and of onr national
pledges and presented 70 che country the issue
Of higher taxes, more bonds and less money.
II hos proclaimed at last. throwing away tho
disguiscs of the British gold standard
We can only expect, should they succeed, my
countrymen, specimen of panic and a long
prOtracted period of depression. Do not ask
f1 iar, IN any Of fhpi A.
tions. Least'of all, ask us not TO join them
upon the money question and fight sham bat
tie over settled tariff, for the money question
is the paramount issue before the American
people, and it involves true Americanism
moro than any economic issue that ever was
presented to president at presidential cleo
tion.
The existing gold standard. whence comes
the idea that we are upon it in every Demo
cratic platform in 1892, and the promise to
hold both gold and silver has been, not from
the last enactment OF congress on the subject,
which. "a repeating the Sherman law, pledged
the whole country to the continuance Of the
double standard not from any statute whatso-
ever now in force in the United States. No
we are not upon any gold Vtandard, but we
have q disordered and miscellaneous currency
Of nine varieties-three of metal and six OF
paper-the product for the most part of Re
publican legislation, rendered worse by treas
ury practices begun by Republican, secretaries
and unfortunately copied by their Democreti,
successors.
Then consider these facts, gentlemen:
The federal, state and municipal taxes IN
this country are assessed and paid by the
standard Of the whole mass of money in circu
lation. No authority has ever been conferred
by congress for the issue Of any bonds payable
in gold, but distinctly refused. The specie
resumption of 1875 gave the surplus revenue
in the treasury, not gold only, the money O.
lxv ha
Allison act Of 1878 added to our circulation
some $3.50, O0O. 900 Of standard silver money, Of
paper based upon it, and all that mass Of sill
yer money is sustained at parity with gold b.
nothing whatever on earth but the silver il
it and tho legal tender functions impaired 4
il by law.
We have no outstanding obligations in tn
United States except the small sum of s44, 900,
O00 Of gold certificates which are speoihcall
payable in gold, and they, Of course, should b
paid. An Of our specie obligations are pay
able in coin. which means silver OF gold. at th
government option, or in siler specifically an
only. There is more paper and silver base
upon silver in circulation today than thore
Of gold or paper based on gold, and that tn
gold dollar is not the unit Of value is demon
strated by the fact that no gold dollar piece
can now, under our laws, be minted. II w
should go upon the gold standard, we mus
change the existing bimetallic standard q
payment Of all public debts, taxes and apprs
priations, saving alone those specifically pays
bic in gold.
The roll Of states was then called un
der the customary practice, and the selec
tions for membership on the various com
mittees were announced The delegate
and spectators began leaving rapidly a
this juncture, as it was we'll understood
that the convention would immediatel
adjourn. General f. b. Finley of tn
Ohio delegation protested against the Sc
lection of committee members by contest
ed delegations, bat Chairman Daniel rule
that until the permanent organization
was perfected the temporary roll shoul
be respected.