, 1896-09-10

7 IN S'N' ti' VI ''pA. 4NoN tlll a.
we not paid off one solitary penny OF
public debt. but we have borrowed
SOB 600, 600, giving the bonds Of this
country, running 80 years. which when
due we will have to pay with $G07 ,oO0,-
900. or we will have an Indebtedness
une-fOurth as great as the whole debt
at the close of the civil war. TAP
plause.)
Not only that but we have Il mn
ming account against us. Uaughlcr.)
Have you noticed the report OF the sec,
retary of the treasury for the month
of July? There was a deficiency for
the month of July of Sl3, 900 900. We
ran behind 81, 900. 900 during that
month. But he stated it was hoped We
should come out better the next
month. Uaughter.) The month Of
August has passed and the condition is
improved. 1t is only $l2, OOO 600, and a
little over (renewed laughtcr) $25, 00O,-
of peace. Now. there are two rcme-
dies proposed. Our friends on the
other side say that the remedy for this
condition of things is the free and I'M
limited coinage of silver at the ratio
of 16 to |. daughter and cheers.)
They are particular about the ratio.
IS to /; no other ratio will do trcncwed
laughter) by this country alone. That
is the remedy proposed. The repuhli-
can party proposes another remedy.
In that the party proposes to restore
in this country the policy of protec-
ton to American industries. (Great
cheering, again and again renewed.)
| want to examine the question with
reference to these two remedies and
see which will affect a cure. Our
friends say it was the decentralization
of silver in 10 hat has occasioned this
difficulty. | say it was the folly of 90,
when we went from protection to free
trade. CHEERS and %applause.) Now
let us examine the question. | say, in
he first place, that protection is the
only thing that will relieve this ma
ion. and | say it because this is not
the first time we've had this disease
Qaughter): it is not the first time we
have been called upon to apply a rene
dy. If you go back with me in history
a little, you will remember that in
lS1G We had the policy of free trade in
his country, and it produced the same
condition of things we have today-a
bankrupt treasury, falling prices, closed
mills. silent looms, blackened chin
neys. the whole people out of business
and buying our goods abroad.
Henry Clay said, speaking of that
period, IF l was called upon to name
seven years of the most widespread
disaster which this country ever saw.
it would be the seven years Immediate
ly preceding the tariff of 1924 And |
want to call your attention here, that
not until we applied the remedy of a
protective tariff in 1924 did this ma,
ton recover and go OF in its march of
progress. (Applause.) My friend be,
lieving in the free and unlimited coin-
age OF silver, will you pardon me for
suggesting that in 1916 we had the free
and unlimited coinage of silver at the
ratio of Is to l, and applied the remedy
to the patient three times a day, with
out affecting him at all 0aughter), and
not until we applied protection did the
patient cover
In 1887 we again tried the policy OF
here tonight before me who can re-
member 1897; conditions like those of
today, when farm products were low,
aye, so low in this state hat farmers
burned their wheat in the fields. when
the treasury was bankrupt and the
president of the United States was
obliged to go to a pawnbroker's in the
City of Washington and get his
months salary discounted. (Laugter
and applause.) Again we applied the
policy of protection, and again the
country revived. You who believe that
the free and unlimited coinage of sill
yer at 10 10 l WOuiu ue d TeIueuy, VIII
you pardon me? (Cries of, mo, no."D
I desire to call the attention of such
gentlemen, If they are here. that in
1897 we had the free and unlimited
coinage of silver at the ratio of 16 to !
and administered 1t to the patient
without n beneficial effects. CLaugh-
teri
Then we tried it again in 1S57-and
there are many gentlemen that can re-
member 81. The same condition of
things we have today-prices low, la
Dor out of employment, soup houses
established in ALL the great cities OF
this country, wages struck down, furn-
aces closed, looms stilled, treasury
bankrupt-and we had free and I'M
limited coinage at 16 to l all the time,
and administered it regularly to the
patient without beneficial effect. IRE
newed laughter.) But when, in 81, the
party administered the poll