West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-07-02
HISTORY AND FINANCE.
A BRIEF RESUME or THE ALLIM>
PORTANT QUESTION FOR A
HUNDRED YEARS PAST.
"Dar's One Mo- Rlbber for to Cros',
And Dat Ole Rib5er Am Salt"
SALT RIVER HEADQUAerEns.

OF the present age. liz we arc not
yersed in either, we are not equal
to the emergencies of the times. |
find that IN the formation Of our
Government that We had two dis
tinct political parties, Federnlists
aud Federalists or Democrats,
and one system Of money, bimetal-
lism, silver and gold.
In the adoption Of the Constitu-
ton, the two theories were promul-
gated by these parties. The FEEDER.
nlists taught that the Constitution
was all sovereign. They were led
by such men MS George Washington.
John Adams and Alexander Hamil.
ton. The anti Federalists were
championed by such men as Thomas
jefferson, James Madison and James
Monroe. They denied that the
Constitution was sail sovereign; that
it only delegated certain rights to
the different States shat composed
the UuIon, and upon these two
theories our American people are
still battling for supremacy Of po-
lltlcal power. At the assem- bling of
Congress in 1892 probably the sec
ond assem- blage Of Congress, birnet-
allism was established as the none.
tary unit from silver to gold. This
IS what | understand to be the Con.
stltutional money. Silver being at
the ratio Of Is to 1, which remained
IN full force until 1884, a period OF
forty-two years. Then the ratio
was raised to l6 to L, where it re-
NAMED with slight modification till
l873-thirty-nine years more, or
the whole number of years were
just eighty-one that our country
prospered, including the cost Of
three wars, Revolution, 1912, and
the rebellion, or civil war, as it is
termed. This money of the Con-
stitution, which had met every ext
gency Of the Government at home.
abroad, in peace and in war, is
styled by those who favor mono
meCallism, the SilUer Scare Craze.
The first twelve years of our Gov.
eminent was under the administra-
ton Of Washington and Adams.
They were Fcderalsts. The Re-
publican party OF to-day claim the
Federalists as the father of their
political doctrine. With both pride
and pomp they point to Alexander
Hamilton and his heories of finance.
Hamilton was Secretary of the
Treasury under Washington during
his first term. 1t is said in history
that Hamllton's wise and honest
policies were such that it gave to
our Government such credit that
it could borrow all the money it
needed from that time until the
present, aperiod of one hundred
and four years, bmetallism was
all right then.
The next twenty.four years was
under Democratic administration,
Thomas Jefferson, James Madison
and james Monroe. jefferson was
the father Of Independence, Madi-
son was the father Of The Constitu-
ton, and we will add that Hamilton
was the father Of the best financial
system that the world ever knew
hence, these three men were the
most important political factors in
the early history of our Govern
ment. What did these three men
guarantee to the people? Liberty,
conscience Of human souls, and
eternal pI osperty to future genera
tions.
Let me compare three men of the
most important factors of our DO
litical parties of day. BY trans.
position, we have John Sherman.
of Ohio, Goldbugism; Thomas c..
Plat, of New York, Autocratism
Grover Cleveland, President of the
United States, Bond, Bonds, Bond
ism.
The next President was John O..
Adams, Federalist, one term of
four years. Mr.. Adams was born
IN luxury, a scholar from youth, a
man of colossal mind, distinguished
abroad, but the Constitutional
money was sufficient for all his
country's credit.
The next candidate for President
was Andrew Jackson, whose ad-
ministration was intensely Demo-
cratic, and l have never heard or
read Of a Republican, or anyone
else, question his Democracy OF
faulting his ADMINISTRATION. lie
raised thunder With John Calhoun.
ism, and the banking system in
[ particular, and in further estab-
fishing the system and policies oil
Jefferson, Madison and Hamilton
on more solid and permanent
foundation, timetallism was raised
to 10 TO Eve years Of his term oil
Office was under Ilamilton's system
/ Three years Of Jackson's admins
tratIoD was under the free and fall
unlimited coinage Of both gold and
silver, the ratio Of silver being ia
TO {, which is rightly and properl,
termed Che Jacks0nian or Demo
cratic bimetallism OF this country
and Che people were still saved.
Murfrrs W.