The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-20
HOLT AND HIS HATCHET
THIS TIME HE BURIES 1T IN THE
NECK OF POPOCRACY.
Renounces All Allegiance to the
Bryan-PopuIistic Combination.

declared that he could no longer stay with
the combination where Democratic ideas
had been obliterated to secure Populist sup
port. Mr.. Holt has been prominent in the
management of Democratic politics in In
diana for a number of years, and when the
State committee was reorganized at its
usual time last January, he was unani-
mously elected chairman of the State COM
mittee. He was for sound money before
tho convention, but after it was held he
remained with the organization, though
never expressing himself publicly as favor
ing the Chicago platform. He was one of
those who believed that it was better policy
to stay by the party and preserve the or
ganization, and he felt convinced that if
Bryan was elected he would not carry out
the more radical planks in the platform.
However. as the campaign progressed he
found the extreme silver radicalism grow
ing in the party. and finally seized the ex-
cuse of a difference of opinion with Govern
or Matthews over the appointment of an
election commissioner, to resign. He still
remained with the party, however, until
it gave up everything to the Populists in
the fusion deal, and then he could stand it
no longer.
His letter reads as follows:
Il have watched with intense interest
and great anxiety the recent political pro-
GCtdlilSS III LIc Il I'll Old L dIl
a party man, believing that We can only
accomplish economic policies and achieve
ed action. There are some rules developed
by the history Of political parties which,
though customary in origin. yet have the
force of laws in the matter of organization,
the regularity and government of parties.
Among these accepted customary rules
there is one which declares that no con-
vention has a right radicallyWo depart from
the accepted and essential doctrines of the
party and thereupon claim the right to
| bind IFS mem hArS Another of almost pnIIaJ
strength and Importance is that no party
has a right to go outside of its member
ship to secure a candidate as a nominee
for an office. And last, but not least, is
the rule that the proceedings of the party
III convention and subsequent thereto. in
order to ent1tle respect on the ground of
regularity, must be regular according to
the party usages and customs.
L nave been opposed to the free and
independent coinage of gold and silver by
the United States alone on the ratio Of
IS to 1, when the market ratio was 90 to
l, and. therefore. felt much disturbed when
the Chicago. platform announced such a
doctrine; but. l confess that 1 did not ap-
preciate fully the fact which / have since
ascertatned, that this platform did make
a radical departure from the accepted doc
ticular subject; however, I maintained my
relationships TO the party despite my feel
ing or opposition to this particular plank,
linking that there might be other ques-
tions which would take distinctive form as
issues in the course of the campaign. But
we nave reached a point to-day which, in
the light of important events just tran
sp1red, as a party man, believing in party
regularity, deserve the most serious con-
sideration and, in my opinion, the earnest
Inflammation Of every regular Democrat.
NO ROOM Q DEMOCRATS.
Tested by the rules laid down above
governing the allegiance of party men,
there is not the slightest standing ground
left for the free silver organization in In
diana to claim the support of any Demo-
crat.
1.-THE leading question presented. as
made obviously by current debate, con-
Germs the ratio upon which silver and gold
should be coined. The Chicago platform
and the debate before the people on the
part of its adherents entirely repudiate the
doctrine laid down by Jefferson, Madison.
Benton, Jackson and the national plat
forms, of the party wherever these in the
past nave had occasion to speak on the
subject. Jefferson declared that the pro-
portion between the values of gold and
And, further, that Just principles will
lead US to disregard legal proportions alto
getner, to inquire into the market price of
gold IN the several countries, with which
we shall principally be connected in COM
meree and axe an average from them
Madison later said on this same subject:
1t is essential that the Nation should pos
sess a currency of equal value, credit and
still, Andrew Jackson was confronted in
his administration with this same ques-
ton of ratios. The chief spokesman of
President Jackson was Mr.. Benton, and in
the Senate in 1884, in the discussion of this
question. the real and true policy Of the
democratic party was thus brought out
by Senator Benton, as reported by himself,
and /, therefore,, use his language: Mr..
Benton made his acknowledgements to the
great apostle of American liberty (Mr.
Jefferson) for the wise, practical idea. that
ton altogether, to be settled by its value
IN other countries. He had seen that re-
t 4raas re ne it Wor as f fea thaf great tba man man, and and
ready way of accomplishing an appar-
emily difficult object, and he fully con-
curred With the Senator from South Car
DINA (Mr. Calhoun that gold in the
United States ought to be the preferred
Here We have, from the first admins
tratlon OF Washington down through that
OF Jackson, the constantly reiterated doc
trine that the coinage ratio should follow
the commercial, or bullion ratio of gold
and silver, OF course, this doctrine would
secure dollars which would be of equal
Vai1le in every market.
IN the platform of 1892, promulgated by
the national Democratic party at Chicago.
when called for the coinage of gold and
silver, there is this same distinctive idea
thleariy brought out in the demand that in
recognition of the equal, intrinsic and ex-.
~ehangeabie value of the two, or such an
adjustment by international agreement or
by safeguards of legislation, as shall in
sure the maintenance of the parity of the
two metals and the equal power of every
dollar at all times in the market and in
the payment of debt and thus avoiding
eHpllcily any risk, any dependence on the
- %N@A ~ L IOtBE vi IN IlEfI I'LL
such as Mr.. Bryan constantly uses. in Sc
curing an honest dollar. The Chicago plat
form departs entirely from the time-hon-
ored and honest doctrine of the true Demo-
cratic party.
BRYAN AND SILVER TRUST.
TT has been made to appear also very
distinctively in the course of this campaign
that the Chicago platform, recently
adopted, contradicts the maxim of the
Democratic party, which declares against
class legislation in any and all forms. 1t
now seems as if the most active, able. eff
cient and earnest supporters of Mr.. Bryan
consist of what is called the silver mine
owners, organized. it would appear, in form
of a trust. While I do not believe that the
free coinage of silver will really benefit
this class permanently, yet Mr.. Bryan says,
in effect, that it will, and these gentle
men, constituting the trust, seem to think
so, and are putting up q large fund in the
way of investment in the presidency. 1
have earnestly believed and still believe
that the effect of the free coinage of silver
would be to cut in two the wages of fifteen
millions of wage earnerS. and, as the DEM
ocratic party in the past has always ex-
tended the hand of fellowship and of SYM
pathy to this class, it must follow that the
Chicago platform in this particular an
tagonizes the old and earnest traditions of
the party.
Another thing has been made to appear