Kansas City daily journal. [volume] (Kansas City, Mo.) 1892-1897, 1896-08-28

| come tax was held to be unconstitutional
| by the supreme court. So eager were our
| Democratic friends to relieve their embar-
rassment and TO put directly upon our peo>
ple according to the English system,
| tax to support our government, that they
| passed an unconstitutional act in order 10
| levy internal taxes and help out a tariff
| bill which had reduced the duties upon i'm
portations Now what has been the effect
| of that? 1t has failed to produce revenues
| enough. supplemented by our internal tax,
| to maintain the government. There has
| been an annual deficit approximating sJo.-
| 10000 every year. and the national treas
ury has been continually in a state of em-
barrassment. Our manufacturers, left with
| out adequate protection. have been sue
cessively and gradually closing up and
putting out their fires. But not only has
| this produced such an effect but II has
| practically contributed to the financial de-
| preston that We are in.
The Gold Reserve.
1.-The maintenance of the gold reserve up
| to 5000 900 by the government for the re-
| demption of our notes was essential to con-
| fidence in the stability of our finances.
| When the government reserve runs down.
people begin al once to say: We may come
| to the silver basis: gold is going out; the
reserve is going down.. and this fear Is
! greatly increased. But how can you keep
| a gold reserve of sl0o,000,oo0 when you have
not sloo.oco.0o0 in the treasury all told:
| How can you maintain this gold reserve
| for the redemption of notes when you nave
an annual and continual deficit in your In
come? So that, my friends, this tarlf olll
| has not only contributed. by increasing I'M
por,ation. by taking away the needful sup
| port for our own manufacturers. but II mas
| contributed in the. way OF increasing tse
| silver scare to bring us into the present
| condition of distrust and dismay which no"
| prevails. tApplause)
'The bond sales have been made neces,
| sary by reason of this deficit. because l
think. everyone will agree that as finan-
cial problem il is one thing when you nave
| $500. COS. 600 surplus in the treasury TO keep
| another when you have only sl250O0,000 in
| the treasury all told. (Applause0
But did not intend to follow this ques-
ton further. I am quite as much. how
ever. opposed to cheapening the American
wcrkingmen and workingwomen as l am
to cheapening our dollars: Applanseo I
| am quite as strongly in favor of keeping
| days work at home as | am gold dollars.
(Applause.) If it could be known tonight
that that gallant soldier. that typical
| useful statesman, William Mckinley, of
Ohio applause and cheers) would GER
tainly be elected president, how how the bears
! tomorrow!
| Good Grounds for Pride.
] '.AIy friends, as a Republican. am proud
| of many things, but l can sum up as the
| highest satisfaction have had in the
party and its career that the prospect OF
| Republican success never dld distuip pus>
In connection with this financial matter.
do We all realize how important the cnoice
of a president is? Do you know that, as
the law is now. without the passage 81
any free coinage of silver law at all, 1t
is in the power & OF the @ pFesiIen. hnainsss this
country to a silver basis? All he has 10
do is to let the gold reserve go, to pay out
silver when men ask for gold. and We are
there already. 1t is only because the presi,
dents of the United States that we have
had. and the one we have now, have re-
garded it under the law as their public
duty to maintain the gold basis, main,
tanning that parity between our silver ana
gold coins which the law declares is the
| policy of the government, and Re ause they
| have had the courage to execute the pow
| ers given to them by the resumption act
to carry out that declaration OF PUBLIC law;
II undertake, therefore, to say that If
Mr.. Bryan, or a man holding his views,
| were in the presidential chair. without any
legislation by congress we should be on
| Three or four years ago. when I was in
New York, someone of these reporters who
! sometimes hear things that are not IN
tended for them got hold of remark OF
mine about the wild horses that Mr.. Cleve-
land had to handle, and l simply meant
By that what las since been demonstrated
that he did not have compact or solidifed
party behind him-that the Democratic
party in congress represented every shade
u of every ism that had ever been propound-
ed in the country, and that he could not
manage it. My prophecy has became real
ity. They have left him. They abandoned
him, and now, as that caution was meant
to indicate that we needed to look out after
our congress as we'll as our president, this
caution is intended to- show you at this time
that we need to look after our president
if We would avoid the calamity of having
this country put upon the Mexican basis
of money.
The Silver Question.
1.-THE silver question-what is 1t? Do we
want silver because We want more money
a larger circulation? L have not heard
anybody say Mr.. Bryan is not urging
it on that basis. If anyone were to seek
to give that as reason for wanting fret
silver he would be very soon confounded
by the statement that free silver would put
more gold out Of circulation than the mints
of the United States could possibly put II
in years of free silver, and that instead
of having more money We would have less
(Applause.l With our six hundred and ode
millions of gold driven out of circulation
this country between S. and 49,
$50 it is not for more money. We hav,
an abundant supply of circulating medium
! gold, silver, national bank paper, green
backs. treasury. notes. fractional silver
. We have something like s23 per capita O.
ates this demand for silver? 1t is openl.
! avowed: 1t is not more dollars. but cheap
standard of value that they are demanding
They say gold has gone up until it ha!
ceased to be proper standard of value
| and they want silver. But how do the!
want it?
The Double Standard.
"But now, frenGs, there is great dea
of talk of bimetallism, of the double stand
, ard, and a great deal of confusion in tn
use of those terms. Bimetallism is the us
. of the two metals as money where the.
, are both used.
by double standard, they mean tina
We have gold dollar and silver dolla
which shall be units of value, by which al
, property and all wages and everything /
| to be measured. Now, our fathers though
, that when they used these two metals il
! | coinage they must determine the intrinsic
! | relative value of the two,so that a compari
? son of the markets of the world woul'
: | show just what ratio one ounce of stlve
a | bore to one ounce of gold, how man.
i | ounces of silver it took to be equal to on
+ ounce of gold in the markets of the worl
l | where gold and silver are used, and the,
l | went carefully about ascertaining that.
Jefferson and Alexander Hamilton CAV
4 | their great powers to the determination o
S that question, and they collected the mar
ket reports and they studied with all thei
Y powers that question, and when they ha'
' | found what appeared to be the genera
r and average relative value Of these tw
: metals they fixed upon a ratio betweel
: them. Now. what was the object of al
t that? Why did they lump all? Becaus
: they fully understood that unless these dol
: lars were of the same inherent, intrinsi
I | value. both of them could not be standard
/ of value and both could not circulate.
Parity Essential.
Everybody knows that it is es
sential that the length of his stills belo,
e the tread shall be the same. daughter
;. | What is the law that governs here? 1t
t just this simple law of human sefshnes
Y things either one of which will pay DEB
!; and one is not as valuable as the Other