The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-08-15

| court sustained, without 4 dissenting voice, ar
income axlaw almost identical with the one
recently overthrown. Has not a future court
as much right to return to judicial precedents
as the present court had to depart from them
When courts allow rehearings. they admit tina;
error Is possible. The late decision against
the income tax was rendered by a majority OF
one after q rehearing.
While the money question overshadows al
other questions in importance, 1 desire it dis
tinctly understood that 1 shall offer no apology
for the income tax plank OF the Chicago plat
form. The last income tax law sought to ap-
portion the burdens OF government more equit.
ably among those who enjoy the protection
of the government At present, the expenses
of the federal government, collected through
internal revenue and import duties, are eS-
pecially burdensome upon the poor classes oil
society. A law which collects from some cit
liens more than their share of the taxes
and collects from other citizens less than their
share, is simply an indirect means of transfer
ring one mans property to another mans
pocket, and while the process may be quite
satisfactory to the men who escape just taxa
ton, it can never be satisfactory to those who
are overburdened. The last income tax law,
with it's exemption provisions, when consid-
cred in connection with other methods of tax
alton in force, was not unjust to the possess
ors of large incomes, because they were not
compelled to pay a total federal tax greater
th1n their share.
The Money Question.
Now let me ask you to consider the para
mount question of this campaign-the money
question. 1t is scarcely necessary to defend
the principle Of bimetallism. No national
party during the entire history of the United
States has ever declared against it, and no
party in this campaign has had the temerity TO
oppose it Three parties, the democrats. the
populists and the silver party, not only de-
clared for bimetallism. but have outlined the
specific legislation necessary to restore silver
to its ancient position by the side of gold.
The republican platform expressly de-
C1nraG that hfYnafnlIfGn iG AaGfrahla whan
IL pledges the republican party to aid
in securing 1t as soon as the assistance OF GER
tain foreign nations can be obtained Those
who represent the minority sentiment in the
Chicago convention opposed the free coinage
of silver by the United States by independent
action on the ground that in their judgment it
would retard or entirely prevent the estab-
lishment of international bImetallism. to
which the efforts of the government should be
steadily directed" When they asserted that
the efforts OF the government should be stead
lily directed toward the establishment of inter-
national bimetallism they condemned mono
metallism.
The Gold Standard Found Wanting.
The gold standard has been weighed in the
balance and found wanting. Take from It the
powerful support of the money-owning and
money-changing classes and It cannot stand
for one day in any nation in the world. 1t was
fastened upon the United States without dis
cuSsion before the people, and its friends have
never yet been willing to risk u verdict before
the voters upon that issue.
There can be no sympathy or cooperation
between the advocates of q universal gold
standard and the advocates of bimetailism.
Between Observation-Disclosures independent
or international-and the gold standard there
is an impossible gulf. Is this quadrennial
agitation in favor of international bimetallism
conducted in good faith. or do our opponents
really desire to maintain the gold standard
permanently. Are they willing to confess the
superiority of n double standard, when Joined
by the leading nations of the world. or do
they still insist that gold is the only metal
suitable for STANDARD money among civilized
nations? II they are, in fact, DESTROYS of Sc
curing bimetallism we may expect them to
point out the evils of a a gold standard and de-
fend bimetallism as n system. II, on the other
hand, they are bending their energies toward
the permanent establishment of n gold stand
ard under cover of n declaration in favor of in
ternational bimetallism,I am justified in sug-
costing that honest money cannot be expected
at the hands OF those who deal dishonesty
with the American people.
Honest Money.
What is the test of honesty in money!? It
must certainly be found in the purchasing
power of the dollar. An absolutely honest
dollar would not vary in its general purchas-
ing power: it would be absolutely stable when
measured by average prices. A dollar which
increases the purchasing power is just as dis
honest as a dollar which decreases in pur-
chasing power.
1t cannot be successfully claimed that mono
metallism or bimetallism or any other system
gives an absolutely just standard OF value.
Under both monometallism and bimetallism.
the government fixes the weight and fneneSS
of the dollar, invests it with legal tender quail
tiles. and then opens the minis to its unre-
stricted coinage, leaving the purchasing power
of the dollar to be determined by the number
of dollars.
The Advantages of B~ImetalIism.
Bimetallism is better than recommendation.
NOT because IL gives ms n DerfecC dOllar-that
is, a dollar absolutely unvarying in its general
purchasing power-but because it makes a
nearer approach to stability. to honesty, to JUS
tice, than a gold standard possibly can. Prior
to 1873, when there were enough open minis to
permit all the gold and silver available for COIN
age to find entrance into the worlds volume
of standard money, the United States might
have maintained a gold standard with less in
jury to the people of the country: but now,
when each step toward a universal gold stand
ard enhances the purchasing power OF gold,
depresses prices and transfers to the pockets
of the creditor class an unearned increment,
the influence OF this great nation must not be
thrown upon the side OF go d unless we are pre-
pared to accept the natural and legitimate
consequences of such an act.
ANY legislation which lessons the worlds
stock OF standard money increases the ex-
changeable value OF the dollar. Therefore. the
crusade against silver must inevitably raise
the purchasing power of money and lower the
money value of all other forms of money. Our
opponents SOuleLlEncS duLnlL LudL II was u mis-
take to demonetize silver, but insist that we
should submit to present conditions rather than
return 20 the bimetallic system. They err in
supposing that we have reached the end of
the evil results OF a gold standard: we
have not reached the end. The injury
long the world is to suffer from the attempt to
make gold the only standard money. The
same influences which are now operating to
destroy silver in the United States will. II sue
80 h4.A No eV..21 -AE0 -AL-- aFI-A.
using countries, and each new convert to the
gold standard Will add to the general distress.
So long as the scramble for gold continues,
prices must fall, and n general fall in prices is
but another definition of hard times.
Whom Free Silver Would Aid.
Our opponents, while claiming entire disin-
terestedness for themselves, have appealed to
the selhshness of nearly every class of society.
Recognizing the disposition Of the individual
voter to consider the effect of any proposed
legislation upon himself, we present to
the American people the financial pol
believing that 1t will result in the
greatest good to the greatest number. The
farmers are opposed to the gold standard
because they have felt its effects. Since
they sell ut wholesale and buy at re-
tail they have lost more than they have
gained by falling prices and, besides this, they
have found that certain fixed charges have
not fallen at all Taxes have not percep-
tibly decreased, although it requires more
farm products now than formerly to secure
the money with which to pay taxes. Debts
have not fallen. The farmer who owed 81 900
is still compelled to pay 81, 900. although it may
be twice as difficult as formerly to obtain the
dollars with which to pay the debt. Railroad
rates have not been reduced to keep pace with
falling prices, and besides these items there
are MANY more. The farmer has thus found
complaint against the gold standard.
Wage Farmers Want Free Silver.
TEA .ra.a nam So hnvva Baan nTErn hw n
gold standard and have expressed themselves
upon the subject with great emphasis. In Fob
ruary. 1897, a petition asking for the immedi-
ate restoration OF the free and unlimited coin
age OF gold and silver at sixteen to one was
signed by the representatives OF all, or nearly
All the landing lahnr nrnnnlzlLinnS and nra-