The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1896-09-03
THR NATIONAL DEMOCRATS
DEFEND THEIR PARTY FROM Is.
SAULT.
Things Said by Judge L. L. Macarthur In His
Address to the National Democratic Con-
vention at Portland.

Gentlemen of the Convention: thank
you most sincerely for this evidence Of
your esteem and confidence. cannot re-
alize that q man ever could stand In the
presence OF q more thoroughly representa-
tive and patriotic body of American citi-
gems. Every profession, every trade and
every handicraft has its represent
alive in the body Of this as
sembly. There is q noticeable and
an acceptable absence Of political agitators
and of that other class of pftiable crea-
lures. those in whom the lust for office has
stifed every impulse of manly independ-
ence. In response to the call Of our coun-
try and OF our party, we are here to en-
phasize our disapproval Of the results Of
the Chicago convention. of Its desertion OF
democratic principles and its surrender
to populism.
''The democratic party, by its history.
traditions and policy, has always advo-
Gated sound money. From the time when
Jefferson created 1t down to the present
hour. the true democrats Of this country
have known no other principle and accept
ed no other theory Of finance. The Chicago
resolution declaring in favor of the free.
unlimited and Independent coinage of silver
at the arbitrary and false ratio of 16 to
is undemocratic; to carry 1t Into effect
would, in my judgment, jeopardize our
national credit and affect most disastrously
every wage-earner, as well as every indus
try in which the ingenuity and energy
of men are displayed. Instead Of being,
as Its advocates claim, panacea for
every i'll that afilicts the state and the
Individual, it will destroy confidence in
our business integrity, without which no
nation ever attained commercial great
ness. There are laws of finance as fixed
and as immutable as the laws which gov
ern the ebb and flow of the tides. Legisla-
tion is absolutely powerless to create value.
Whenever there is difference between
the commercial value Of coin and its value
as assumed by congress, you may depend
upon It, that Its commercial value will
control. unless, as is the case in this coun-
try at this time. 1t is coined on govern
ment account, in such quantities only as
will not disturb Its parity with gold. Un-
der Independent and unlimited free coinage
the owner of silver bullion will be able to
take 1t to the mints, have 1t coined and
returned to him in coins stamped with the
dollar stamp, and containing 41215 grains
of standard silver. The government has
nothing further to do with the matter.
It win not be called upon to maintain the
parity Of these coins with gold, and they
will never rise above the commercial value
of the bullion they contain. Do not mis-
understand me; I do not mean to say that
silver will always remain at Its present
commercial value: I concede that, If the
Chicago platform is ever enacted into
law, it will temporarily rise in value, but
worlds finances justify any one in believ-
ing, that the gap between gold and silver
will be closed. Gold, following Gresham's
law. will flow out Of this country, and we
will have silver monometalism. pure and
simple.
81 am aware that many eminent and
many worthy men have the fullest conf
dence that the free, independent and un-
to this country, and that the fears which
many of us entertain are sroundless.
portant question Ga question not to be de-
I shall be glad If some one will cite me to
an historical example that can be studied;
in saying that there is not In the world
today. any nation of commercial conse-
quence that gives free and unlimited coin
age to silver. Before we are asked to
change our present financial policy, before
we are asked to turn our backs upon the
principles Of our party have S we pSt
Chicago platform has been successfully
nd 4anefAf am IN fayor sstea Il oha Hrm. unvarying
maintenance of the present gold stand
ard am e2posed to the sdT free coinage Of
with danger. believe that the best in
terests Of the people Of these United
81 tse NortR of the W Vest as Wen W q
the East, demand that whatsoever they
by abor af an nas bs
to the civilized world.
that fundamental principle Of the demo-
cratic party which declares in favor of
the largest personal right and liberty OF
from governmental control. This it did
when It denied the right of individuals to
make such such contracts sa as IN their 5ndg
interests. It Is a false theory Of govern
ment and an undemocratic principle which
such contracts as the exigency Of your
business may demand, provided they are
not tainted with immortality. When 1t
Existing Contracts a it tpod too near the
verge of repudiation for me to follow.
"It has been always understood in this
the Individual state, that the United
States shall preserve domestic tranquility
and protect the lives and property of the
president of. Of the United States. in the ex- ae
ercise Of an undoubted constitutional pre-
rogative, after a recreant governor had
cipie % and IN p Terminated NINA % the Sh Chicago ago riot riot.
For For, this ne was was condemned % by the e. Chi; Il;
his action is revolutionary and undemo-
.'No officer of this republic is above crit
ictsm. The decision of any court on any
question is recognized as being. the proper
subject for calm and dignifed criticism
No No matter matter how % much we may s differ ,t from pm
in its opinions on public questions, no
party and no congress has a right to In
wade its prerogatives or pass any Law
which shall subvert 1t as one Of the CO.
ordinate branches of the federal govern
ment. The threat to reconstruct the su-
preme court because It declared against
the constitutionality of the income tar
is undemocratic and revolutionary. The
gratuitous insult offered by the Chicago
be resented by every lover of his coun-
try: A. court cannot be independent which
is liable to be packed" in order to secure
decision. To destroy the independence
of the judiciary Is to revolutionize this
government. cannot support any party
which contemplates the commission Of
such an outrage"
st. Louis Globe-Democrat.
Candidate Bryan, at the notification
meeting in New York, said: I'VE contend
that the free and unlimited coinage OF
silver by the United States will raise the
bullion value of silver to It's coinage value
and thus make silver bullion worth 81 q
In gold throughout the world The
Globe-Democrat has already pointed out
the ignorance and absurdity involved In