The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-07-08
TELLER'S NEW PARTY
Says He is a Democrat if Demo-
crazy Adopts Silver.
ANNOUNCES HIS PRINCIPLE
His Views on the Republican
System of Finance.
BEFORE CITIZENS OF DENVER
The Colorado Senator Tells His Friends
That He Has Sacrificed All
For the Good of His
Country.
ANNOUNCES HIS PRINCIPLE
BEFORE CITIZENS OF DENVER

Country.
| Denver, Col, July Especial to the
New York Herald, Henry NJ. Teller,
| at the dedication of the National Els
teddfod Auditorium Saturday night,
| expressed a preference for free trade
as an alternative to the gold standard
and formally placed himself in the
Democratic ranks if a free silver plat
form should be adopted at Chicago.
| In the course of his remarks he said:
eff somebody tells you that you want
a bigger tariff, let me tell you that you
have bigger tariff now than you had
under the Republican tariff of 1883.
You have not got now a Democratic
tariff; you have a tariff for protection
and not for revenue. You all know 1T
is not a question of tariff; it is ques-
ton of the monetary system. 1t IS
the question whether we shall make
use in this country of both those great
money metals or whether we shall
make use of but one.
when we used both we had a rea-
sonable degree of prosperity, and from
the hour that we began to discredit
one we may date the decadence, the
retrograde movement, the depression,
the discomfort and the uneasiness that
exist in every portion of this God IA
vored land.
"Pray, will somebody tell me, if it
is not the financial system that is at
fault, what is it? You prospered under
tariff less favorable than this. You
carried on a great war in which you
took from the ranks of industry more
than three millions of men and had
prosperity such as you have not got
to-day and such as no intelligent
statesman can hope for until the finan-
eial system shall have been revised.
ON FINANCIAL SYSTEMS.
1.-THE progress and prosperity of this
country are dependent, as in all other
countries, upon proper financial sys-
| tenn that shall give to the producer
ample compensation for his labor,
system that shall facilitate exchanges,
a system that shall not give a foreign
competitor advantages over the Ameri-
can producer. The system that now
exists is putting us in competition
with all the low priced labor of the
world. 1t is putting us in competition
with the great hordes of Asia, who have
been trying for generations and gen
erations to live upon what would starye
an American citizen, to get clothed in
garments unsuitable for our people,
| unsuitable for our climate or our
civilization.
You cannot compete with them.
The monetary system now in exis-
tence in this country is TO them-every
one of them-a bonus upon everything
they sell you of nearly one hundred
per cent. because of the rates of ex-
change. No tariff that can be advised
will meet that; no law that can be
put on the statute books that does not
| bring silver and gold on a parity, not
| only in this country, but in the world,
will save you from that sharp and
vigorous competition with the popula<
| tion of Asia, numbering, as it does,
more than two-thirds of the human
race.
This country, like all other free
countries, is divided into political or
CARNATIONS, essential to the mainten-
ance of certain principles, which the
great political party announces for its
doctrine and brings to the people, who
believe the principles SO announced.
| Those who disagree range themselves
on the other side. The great danger
in a Republic is that for a time the
people forget that they have organized
| themselves into this great political
organization to define and maintain
certain principles, and they begin to
| think that, after all, there is in that
party an association and name, and
when the party does not change its
| principles you will find men rushing
on, still proclaiming fealty to the or
ganization and party name, notwith-
standing it may have abandoned the
| principles which induced them in the
| first instance to join it.
Il know what it costs to sever con-
nectionS of lifetime. | know what
it costs to turn your back upon party
with which you have been identified,
whose banner you have carried, and
in whose defence you have been heard.
But, after all, my country is greater
than any party; it is dearer than any
/ association--no sacrifice is too great
to be made for it. (Applause.)
TELLER'S VIEWS OF PROTECTION.
II believe in protection to American
industries. / believe in such legislation
as shall secure to the laboring people
| OF this country proper compensation
| for their labor and if anybody tells
you that that is paternalism let it gro
| at that. That is my belief at least. /
know, as you know, that free trade
| in this country is impossible. 1t can
| never come, and | am glad of that.
but if it could come-if it were pos
sible to come-in my Judgment the
evil of free trade would be nothing
| like as great as the evil Of the none
/ IN hat he
at ST. Louis declared should be the
object and end of Republican legisla-
ton, to wit, the gold standard.
''Contending as best | could in the
committee, contending as best 1 could
in the convention, being voted down,
/ felt it to be my duty not to you
alone, not to the citizens of this great
State alone, but to all American man
| hood everywhere, to enter my protest
and to declare that | would not re-
main in party, political organiza-