The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-30
He Dcnounces Money Lenders. and
Says They Are Trying tn Enslave
the American People.
TRIES TO AROUSE PREJUDICE
PREDICTS TERRIBLE THINGS IF THE
GOLD STANDARD WINS,
And Attempts to Bolster In the Here
sizes which the POpOcratic Cam
didate Is Advocating.


Altgeld opened the political campaign at
Girard to-day. Delegations were present
from many other cities and farmers for
twenty miles around. A procession of
marching clubs 5000 strong escorted him to
the public square. where he addressed an
audience of between 1900 and 10000 people.
Governor Altgeld spoke in part as follows:
w are now in the midst OF the great
est crisis that ever confronted this Repub-
lie. In 1861 the Union was confronted with
dissolution. which meant anarchy, in re-
spect to government and a perpetuation of
the African slavery. In 1896 We are con-
fronted with the question of perpetually
enslaving the white race. We are con-
frOnted with the question whether we shall
install the English Shylock as a taskmas-
ter over all the generations of Americans
that are yet TO come. We are not propos-
to give every man his due. We are not
suggesting experiment; We are demanding
a return to the experience of the world for
thousands of years., and we say that this
experiment of trying TO force the nations
of the earth on to "a gold basis for the bene-
lit or European creditors is running the
American people.
I'VE propose to pay back the English
creditors in the same money they gave US
gold and silver. We propose TO give them
dollars that shall have the same purchasing
power, that will buy as much property and
as much labor of every kind as the dollars
they gave US. We propose to pay them
principal ana interest In exactly the same
money which they gave us, and we say
that their act in getting silver demonetized
and gold made dearer, after they had sue
ceeded in getting our bonds and notes, so
as TO compe us to pay a different kind of
money from which they gave us to pay in
dollars which cost twice as much sweat,
twice as much blood. was a fraud and a
crime against civilization.
This Is not a partisan question, not a
question OF Republicanism or of Democ-
racy. John Sherman and Cleveland are
GlRAnlnT InOQfhar II &c n nrInCtinn Of M fri
otism- 1t is a question of maintaining the
institutions of the fathers, for il the pres
ent standard is to be maintained, if our
people must go on, paying interest and prin-
cipal in dollars that require twice as much
labor. twice as much sweat, twice as much
blood to obtain as did the dollars that were
in circulation when the debts were created,
then the doom of American producers is
sealed. Low prices will be made perpetual
epd there will be no hope for the American
farmer. the American mechanic and the
American laborer.
You nave heard glib talk abou: ffty-cent
dollars. There is no such thing as a fifty.
cent dollar. The silver dollars spoken of as
~hfty-cent dollars buy as much property on
the average of every kind. buy as much of
the products of the earth o1 the average Of
every kind. buy as much labor on the aver.
age of every kind. as they did before silver
was demonetiZed. Silver has not fallen. /.
occupies the same relation to property. to
the products of the earth and to labor that
It formerly did. 1t is gold that has gone
up. The purchasing power of gold has
doubled and our people are Obliged to paw
their debts. principal and interest. in dol
lars which. as a matter of fact. are two
hundred-cent dollars. Who gets the bene-
fit of this? The English money lenders.
1t is a. mistake to suppose that a local
money lender derives benefit from the con-
d'tiOnS which now exist.
I'VE say. restore silver to where 1t was.
Coin it free as you do gold. Restore ii to
its legal-tender qualities. and lust as soon
as this is done, just as soon as silver can
be used at the custom house to pay taxes
end to pay notes at the bank, just as soon
as 1t can be used to do the same work that
gold does, just that soon the Importance of
sold will be lowered. its purchasing power
will be lowered. The Importance of silver
VIII be raised; its purchasing power will be
raised until the two metals again circulate
at par. just as they did for two hundred
years before silver was demonetized.
But some one says the idea of bimetal-
ism is all right, but we cannot go il alone.
We must have Europe to help us, other
wise gold will so TO a premium. Everybody
admits that II all the European states
would act together they could go it alone.
They could absorb the silver that is an
nually produced, and in fact a great deal
more without having gold go to n premium.
Now the internal trade of the United
States under normal conditions is greater
than that of all Europe put together, for.
While some of the European countries have
large. populations they are SO extremely
poor that they possess very little pur-
chasing power, consequently, il Europe
could so 1t alone the United States could
still more easily do so. We could absorb
more than double the amount of all the
silver that would be brought to our coun-
try, and 1t would be like putting new blood
into the body The patient is too weak to
travel. We say restore his blood to its nor
NAL condition and then he will again be
active.
1T is said that a Mexican dollar. which
is as heavy as ours, is worth only 30 cents
In gold. and We are asked If this is SO how
Will we make our silver dollars circulate
side by side with gold. We will do 1t by
giving our silver dollars a field sufficiently
large to absorb all. and in which they can
do the same work that gold does. The
business of Mexico is so small that it does
not furnish a sufficiently large field to alb
sorb all of the silver dollars. The business
of Mexico is less than that of one of our
States. NJ. Romero. the Mexican minister
at Washington. published an article in the
American Review a year ago describing the
conditions of his country. and he showed
that Mexico is more prosperous now than
ii ever was before in its history. Her
farmers are prosperous; her business men
busy. and new ones are being erected. and
there is scarcely an idle laborer in that re-
public.
The question is. shall republican institu-
tons be maintained in this country? If our
farmers our mechanics and our laborers
are reduced to the condition of mere trib-
u~te-paying serfs, then the doom of this
Republic is scaled. II they are to be re-
duced TO the impoverished condition of the
toilers of Europe. then a high and intelli-
gent order OF citizenship is impossible. Men
who nave little 20 eat and little to wear
cannot educate their families. Men who
have to give up all of their strength and
all their thoughts to what is practically
unrequited toll are not calculated TO act
the roll of Independent freemen. Since the
revolution England has not cared TO domi-
nate us politically further than to shape
our financial policy. If she can but keeI
our country in the condition in which she
has us now she is content. Three millions
of people established republican institu.
lions in this country in the face of a jeer-
ing and a sneering world. The question
now is, shall seventy millions or people sur.
render these institutions and announce tc
| the world that they are incapable OF main
tanning them. Three millions of people q
| century ago announced to the world thar
they could get along without Europe. Shall
seventy millions of people new proclaim
that we are dependent upon the monarchy
ridden and corruption-eaten European
states?
Il ask you TO support Bryan and hu
mainly against Mckinley and plutocracy
/ ask YOU TO support the institutions of the
fathers against the dictation OF foreign
| Shvlocks. 4 ask you to sustain a policy
which gives every man his due on the one
hand. and on the other will make IL pos
sible for every Industrious and intelligent
man to make q living.
The Governor was listened to attentively
and cheered most enthusiastically. Hon. J
| VI. Graham followed him IN n strong speech
SENATOR TELLER'S PLANS.