The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-08

To kAVPuulltih IT, DtCItlll lEaNu RS bOllOh
nnoneysto supportsthe3 government were
lthcItll omcns % the p~re-orgnnlzed ruin
that awaited the incoming Democracy
and q depleted treasury. More slgnifi-
IScant still. tho very authors lof the Ill.
starred Sherman law make-shift were
already at confessional upon tho stool
OF penance. and were begging Demo.
Gratis TO help them to put Nout the
eo%nfagratlon OF disaster that they
Themselves had kindled.
Wiiaeits the Supreme Court.
SO far ns revenue to support the gov
crnment Is concerned, tho Democratic
{pnrty with but n slender majority In
the senate, was not long providing II,
and had not tho supreme court! of tho
United States, which reversed8its set
tied doctrine OF 100 years. tho Income
tax Incorporated in the thrift bill would
long since have abundnntly supplied 1t.
Respecting finance. tho Republicans,
Popullsts and Demncrots, while diffcri
Ing upon almost all other subjects had
united In 1892 In declaring forEthe5 res
toration OF our American system of BIZ
,metallism. BY Republican and Demo-
cratlcp effort alike. tho Sherman law
wna swept from the! statute books, tho
eagernesg to rid tho country OF that
Republican incubus being 40 great that
no prudent effort was made stoA pro-
Vide a substitute. In the very act OF
the Sherman repealed 1t was declared
to DO the policy of the United States OF
America to continue tho use OF both
gold and silver rs standard money, and
to coin them Into dollars OF equal intrin-
sic and exchangcable value, The Re!
publican party has now renowned tho
creed OF Its platform and OF our national
pledges and presented to the country
me- Issue of higher taxes, more bonds
and less money. 1t was proclaimed ut
last, throwing away the DISCUSSES OF tho
British gold standard. We can only
expect, sould they succeed, my coun-
trymen, q specimen Of panic and a long
protracted period OF depression. Do
not ask US then to join them In any of
their propositions. Least OF all ask us
not to join them upon the money ques-
ton, and fight n sham battle over set
tied tariff. for the money question Is the
paramount Issue before the American
people, and 1t involves true Ameri-
canlsm more than any economic issue
that ever was presented to President
at. n presidential election. The existing
gold standard! Whence comes the idea
that we are upon It. Every Democratic
platform OF 1892 and the promise to hold
both gold and silver has not been from
last enactment OF Congress on the sub
1ect, which in repeling the Sherman
law, pledged the whole country TO the
continuance OF the double standard: not
from any statute whatever now In force
In the United States. No. we are not
upon any gold standard, but We have
n disordered and miscellaneous cur
rency Of nine varleties,A thrce of metal
n SIX of paper, the product for the
most part OF Republican legislation,
rendered worse by treasury practices
begun by Republican secretaries and
unfortunately by their Democratic sue
cessors. (Applause).
Well, Consider Them.
Then consider these facts, gentle
men: The federal. state and municipal
taxes in this country are assessed and
paid by the standard OF the whole mass
OF money in circulation. No authority
has ever been conferred by Congress.
upon h issue OF any bonds, payable
in gold, but distinctly refused. The
specie resumption ofr1S75 gave the sur
plus revenue In the treasury, not gold
only. the money OF redemption. Pro-
vision made by the Bland-Alllson net
OF 1873 added to our circulation some
three hundred and fifty millions of
standard silver money or paper based
upon 1t, and NIL that mass of silver
money Is sustained at parity with gold
by nothing whatever on earth but sill
yer IN 1t and the legal tender functions
impaired to II by law. (Applause.)
We have no outstanding o%bligations
In the United States. except the small
sum OF forty-four millions of gold GER
tiflcates which are specifically payable
in gold and they, of course, should be.
so paid. All OF our specie obligations.
are. payable in coin, which means silver
or gold at the government option. or In
silver specifically and only. There Is
more silver and paper based upon0
silver In circulation to-day than there
Is of gold or paper based on gold, and
that the gold dollar Is not the unit of
value is demonstrated by the fact that
no gold dollar pieces can now, under
our laws. be minted. II we should 20
upon the gold standard, we must
change the existing bi-metallic stand
ard OF payment OF all public debts, taxes
ana approximations, saving alone those
specifically payable In gold. AS we have
twenty billions of public and private
debt. 1t would take more than three
times all the gold in this country 10
pay even n years, interest upon II.
We should be compelled hereafter to
contract the currency by paying OFF FIVE
hundred millions of greenbacks and
Sherman notes an gold, which would
nearly exhaust the American stock in
and out OF the treasury and the same
policy would require three hundred and
forty-four millions of silver certificates
should be paid in gold also assforeshad-
owed by the present draft upon4sthe
country's stock of gold. This means an
increase of the public debt by five
hundred million dollars, with the pros
poet of three hundred and gforty-four
millions more The disastrous con-
sequences of such a policy are appall-
ing to contemplate. and the only alter
native suggested to fight for before
the people Is the free coinage OF. silver.
at the ratio OF 16 to ]. (Cheers). And the
complete restoration oftour hereditary
and constitutional system of American
money. We pray: you, no more make.
shifts and straddles. yex not. the coun-
try with your. prophecies %tofl smooth
things to come from the British Re-
publican propaganda. s(Applause.)
The fact thattth h European nations
are going to the gold standard renders;
1t all the more impractIcablc that we
should do so. for the limited stock Of
gold In the world would have longer div
islon and a smaller share for each ma
ton. Previous predictions have been.
,punctually rcfuted when prosperity WINS
s~propheslcd to come upon the uncondi-
tlonal repeal OF the Sherman law. In
stead OF protecting the treasury reserve,
as prophesIed it would do.Fan unprece-'
dcnted raid was promptly made ,uponsItt
and two hundred and siSty.two; millions
OF borrowed gold have been insufficient
to give a guarantee its security. In
stead Of causing foreign capital to flow
Gus. 1t has stimulated the flow OF gold
to Eurone., and Crennhncl; nntns md Tho