New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-10-14
Oscar euter.
[continued from 1st page. /

Oscar cutter
continued from 1st page.
Our opponents often call attention to
the fact that the wealth of this country
never grew so rapidly IS j, has in the
last twenty years, but they fail to ex-
plain how it comes that with all this
boosted increase in wealth, our financial
condition is now SO disastrous. The ex-
PLANTATION is that owing to our money
system since 1873, whereby the value Of
money has steadily and rapidly increased,
all Of the profits of our toll has gone in
to the hands Of the few who control the
money Of tha land
I have no objection to honest wealth
and do not class men who may have
hundreds OF thousands or even more a.
Emong the so-called money power. The
|pernicious syndicates are those who do
not use their money and their power for
the purpose Of increasing the production
of raw materials or their mannfac-
ture into commodities for the benefit Of
the public, but who seek to acquire and
control the entire production of the one
or the other commodity and then artif-
cially and arbitrarily cat down the pro-
duction and increase the price of that
commodity, whereby they depress the
price of the raw materials or products
such as wheat, corn, sugar beets, petro-
leum, coal and other similar commodi-
ties by decreasing the demand fer the
same; and then increase the price of
the manufactured product to the general
public not only by reducing the supply
bnt also by fixing an arbitrary price for
the same, which the syndicates have the
power to do when they control the entire
production and market. I refer to -four
milling syndicates, whiskey trust, sugar
trust, coal trust, the standard Oil Co.,
and other like institutions. They are an
unmitigated curse to the country. And
while our opponents dare not defend
them they say not word in their plat
form about curling their lawlessness or
diminishing their power.
Our opponents have promised us ever
since 1878 that if we would only CON-
pletely and absolutely demonetlze silver
without hope of resurrection we would
have splendid times, and 10y their false
promises finally succeeded in wiping out
the last vestige of legislation favorable
to silver by the repeal of the Sherman
Act in 1898. They told US in that men,
orable fight that now prosperity was on
hand. 1t is unnecessary to say that their
prophecies have not come true and that
we are deeper in the mire than we were
in 1898. But they now ask US to gel
used to this mire, wade III little deep
er and that there we will be able to swim.
IN it. They offer US no solution of the
difficulty that presents itself, while we
are convinced that the solution is a SIM
pie one, and consists alone in the remon-
etizatlon of silver. They always ask how
we can raise the value of silver from 68
cts. to $1.29 an ounce by the simple es-
tabllshment of the legal ratio between
the two metals.
The speaker then demonstrated, not
by comparison with two lakes, or two
reservoirs, or two balloons or the other
usual Illustrations that are given, but by
the application of the well-established
law of supply and demand, how the lie.
gal ratio between gold and silver must
control the commercial values of these
metals, just as their commercial value
was controlled by the legal ratio prior tc
1878.
Our opponents assert, he said, that the
Sherman Act provided that the United
States should do its utmost to keep the
silver dollar up to the same purchasing
power possessed by the gold dollar, anc
that therefore 1t was the duty of the gov
eminent to exchange gold dollar fol
.very silver dollar whenever asked to dc
so. But that IS not true.
The Sherman Act provides that the
government shall do all in its power tc
keep the two metals (not dollars) at .
parity at the ratio Of 16 to l.. And il
is therefore the duty Of our government
to do all in its power to create a condi.
lion under which there will he an in
creased demand TO: silver, whereby it:
value will he increased. That is exactly
what we ask when we ask for remoneti
zation, while all the efforts of our oppo
nents are concentrated upon policy
which has depressed the price of silver
and which must continue t" depress il
and which has destroyed and will con-
TIME to destroy the parity of metals.
The speaker also directed the atten-
ton of the audience to the false state.
ments made by the opposition to the eff.
feet that our public debt is payable 1r
gold and showed that every dollar of il
is payable IN gold or silver at the option
OF the treasurer. and. that our national
honor demands that we should make oul
600 millions of silver dollars intrinsical
ly worth 100 cents each.
II your children are subject to GROUP
watch for the first symptom of the dis
eaSe-hOarSness. If Cha1nberlaln's Cnupl