The Progress., 1896-09-03

drcd years the Supreme court OF 'ae
United States has sustained the prln-
Ciplc which underlics tho income tax,
Some twenty years ago this samo court
sustained without a dissenting voice,
an income-tax law almost Identical
with the ono recently oycrthrown, has
not a future court as much right TO
return to tho judicial prcccden's OF a
century rs tho present court hAh 70
depart from them? when courts allow
rchcariugs they admit that error is
possible: the iato decision against the
income tax was given by u majority
of one after a rehcnring.
"Tho last income-tax law sought TO
apportion The burdens Of government
more cquitably among those who on
10y the protection Of the government.
At present the expenses Of tho federal
government, collected through internal
revenue taxes aud import duties, are
especially burdcnaomo upon the poor
classes Of society. The inComo~tax law,
with its exemption provisions, was not
unjust to the possessors Of large in
comes. because they were not com
PEELED to pay total federal tax greater
than their share.
Nov, let me ask you to consider the
paramount question Of this campaign
tho money question. 1t is scarcely
necessary to defend the principle of bi-
metallism No national party during
the entire history Of the United States
has ever declared against It, and no
party in this campaign has had the
tcmerity to oppose it. The republican
platform expressly declares that bi-
metallism Is desirable when 1t pledges
the republican party to aid In securing
II as soon as tho assistance Of certain
foreign nations can be obtained. The
gold standard has been weighed In the
balance and found wanting. Take from
it the powerful support of the money
oN ulDS hIu lhc luo'NN -'hahS'" .
classes and 1t cannot stand for one day
in any nation in the world. It was ias-
tened upon the United States without
discussion before the people, and its
friends have never yet been willing to
risk verdict before the voters upon
that issue.
Test 81 Honesty In Moncy.
what Is The test Of honesty in
money? It must certainly b found In
the purchasing power Of the dollar. "A
dollar which increases in purchasing
power is Just as dishonest as dollar
which decreases in purchasing power.
1t cannot be successfully claimed that
monometallism or bimetallism. or any
other system, gives an absolutely just
standard Of value. Bimetalllsm is bet
ter than monometaI1ism not because 1t
gives us a perfect dollar-that Is, a dol
lar absolutely unvarying In it's general
purchasing power-but because 1t
makes a nearer approach to stability,
to honesty, to justice, than a gold
standard possibly can. Any legislation
which lessons the worlds stock of
standard money increases the ex-
changeable value Of the dollar; there
fore the crusade against silver must In
evitably raise the purchasing power OF
money and lower the money value OF
all other forms OF property.
Opponents Admit tho Error.
"Our opponents sometimes admit
that it was a mistake to dcmonetize
silver, but insist that we should sub
nit to present conditions rather than
return to the bimetallic system. They
err in supposing that we have reached
the end of the evil results Of gold
standard; we have not reached the end.
The injury is a continuing one. The
same influences which are now operat-
ing to destroy silver in the United
States will, il successful here, be turn
ed against other silver-using countries,
and each new convert Of the gold
standard will add to the general dis
| tress.
Farmers Opposed TO Gold.
"The farmers are opposed to tho gold
standard because they have felt it's
effects. Since they sell at wholesale
and buy at retail they have lost more
than they have gained by falling prices
and. besides this, they have found that
certain fixed charges have not fallen
at all. Taxes have not been perceptibly
decreased, although 1t requires more Of
farm products now than formerly to
secure the money with which to pay
taxes.
Debts have not fallen. The farmer
who owed 81 900 is still compelled tt
pay 81 1000, although 1t may be twice al
difficult as formerly to obtain the dol
lar with which to pay the debt. Rail
road rates have not been reduced t.
keep pace with falling prices, and be
sides these items there are many more
Wage Farmers Eager for Silver
"The wage-earners have been injured
by gold standard. Wage-earner!
know that while gold standard raise!
the purchasing power of the dollar, !
also makes it more difficult to obtair
possession Of the dollar; they know