Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-10-15

| bl4L Drought MS NAME Dc4O4S Wv
vention. In return for this Gen. WAITS
rendered his thanks and for what 1t may
| choose TO do for him on November 50.
He said that for twenty-siX years the
Democratic party had administered the
affairs Of the State, and to-day we don I
owe dollar. We don't owe Virginia
any debt and we don't propose to nave
any saddled upon us If am elected Gov
ernor. (This declaration was greeted
with a storm Of cheers.)
Two years ago the Republican party
said that they wanted an opportunity to
open the books of the State and they
would show flagran& Democratic fraud.
After full nvest.gation, instead OF
discovering fraud they found every
thing straight. Now, that they have
failed to discover the fraud upon which
they expected to make their fight, they
are declaring that Watts should be de-
feated because he is not safe on the sill
yer side. (Laughter) Instead of con-
demning me for not being safe for silver
they ought TO be ticklsd because l am
with them for god standard. Oaugh-
ter and cheerirg) Gen. Watts de-
cared himself for free silver at 16 to l
and for Bryan and Sewali. This dec
laration brought forth a remarkable
demonstration. The audience, already
enthusiastic, got dehriously demonstra-
tive and oheered again and again.
Gen. Watts continued, saying: Then
they say that Watts is an enemy or Ia
Der. has interests in coal mine at
Monongah. When they say that l am
IN enemy Of the miner they show that
they are getting little scared. there
IS one thing that l am proud of 1t Is
that have always been a friend of the
miner I was in the State Senate 1or
four years and challenge any person to
look az the journal of that body and find
single record where | ever voted
ygalnst the interest of labor. That rec
ord was made when I was not candi-
date and l am willing to stand upon it
now. (Cheers.)
Coming to the money question, Gen.
Watts said that in 1878 we had both gold
and silver money. In that year silver
was struck down by bonGho.ders and
bond clippers. The English bondhOld-
ers and the synd!cates bought up
bonds for ~ cents on the dollar. Five
hundred millions of these bonds wee
bought and were on their face payable
in legal tender, that is, in greenbacks.
The first thing the bondholders did was
to plan how these bonds could be made
more valuable, how the bonds which had
| been bought for AZ cents could be made
worth 100 cents.
In 1869 they passed the refunding act
that made them payable. not in green
backs. but in coin, (go!d or silver) The
vo.ume of money for their purpose was
too large, and they next struck down
silver in 1873, or one-half our redemp-
! ton or primary money. Then the fell
lows holding these bonds had a corner
on god. Then the value Of these bonds
went up. We had gold standard times
| and failures commenced. In 1873 We
had 1000 failures, in 1892 we had l4.OOO
failures. and in 1893 cur failures amount
ed to three billions of dollars. Why?
| Because they had struck down the peo-
pies money.
Gen. Watts held up silver dollar
| coined In 1896, stating that the gold
standard men were telling the people
that silver was still being coined. He
easily explained this In 1873 the
B,and-Allison law was passed AMI under
that law three hundred and fifty mill
lions Of silver dollars were coined. This
law was repealed and in 1890 the Sher-
man purchasing act became law. This
! was rcapea,ed in 1898 and there was
some a.lver left in the treasury vaults.
Thus the silver which was purchased
under that act Is now being coined into
dollars to redeem outstanding silver
certificates. =,
These dollars pass for 100 cents ard
no person tells you that they are worth
only 50 crts. Why is it? Because, as
nv friend Mason said, some days ago
in a Joint discussion, because the strong
arm of the Jaw is under it. applause
NV friend Atkinson says that 1t will
only he worth So cents when we have
free coinage and that the silver mine
owner will get profit OF AZ cents. FlFy-
three cents and AZ cents make 100 cents.
and ~ the silver miner will make AZ
cents the dollar will be worth 100 cents,
and if Il will only be worth o3 cents then
there is no profit of AZ cents. The truth
is that silver will be coined ana worth
what II was prior 10 1873. Not only tdat
brt the coinage Of the silver dollar VIII
beneft the laborlng man by starting
The factories. opening new coal mines.
/ building new railroads and furnlshlag
on incre9sed demand for labor in ak
;ts branches. 1t will benefit the
formers The farmers are oe-
messed. Not paying to stay on the
forms the boys are leaving and coming
n the cities They are working III
roires and factories and taking the places
~ those in vour midst. Make them pros
Dsrons and they will live upon and
cultivate their farms. With rls rise Oh
nr;ces for the farmers products WIN
corne new and established demand Tor
the PRODUCTS OF your labor the business
man will prosper, the manufacturer VIII
bova an Increased demand for his
GODS new cake ovens, new coal mines,
new factories. new developments and a.
now nrosperity will be established.
why do we issue bonds in a time OF
neace II as our opponents say, w have
nlentv OF money? Two hundred and
sixty-two millions Of bonds were Issued
nv Secretary Carlisle and Secretary
Foster had plates ready to issue bonds at
the end of Harrlson's administration.
Grover Cleveland made an issue OF
bonds and twelve million dollars were
made out Of the tranaction. Now in
his campaign, when the realized their
gold stanard was al stake, the New
Workers who had profted to the extent
Of millions by bond issues came to the
protection Of the gold standard by giving
~ tha government. without interest,
sufficient gold TO maintain me gold re-
serve and receiving for !. goVernn