The record-union., 1896-07-12

bonds to capitalists who have money
they want to invest. 1t will change when
the Secretary Of the Treasury has back
bone enough to do as the mass of the
people want, and tell the magnates of
Wall street what they must do.
The use Of gold in the arts is increas-
ing much faster than its production,
and there Is no danger of there being too
much gold. The financial question is
very simple and can be solved by the
application to it of the same principles
we use in every day business. If the sill
yer money of the world is destroyed the
value of the gold must rise from the in
creased demand. He quoted from Sena-
tor Sherman's speech in 1869, in sup
port of his position. He wanted to tell
the bankers who are secretly in favor
of silver but are afraid to let it be
known, that their day is just coming,
while other people have been going
through it. Their banks are full of paper
that was taken two or three years ago
that is worthless now, and they will soon
have to draw on their capital TO pay
their depositors. Confidence can never
be restored while the property of bor-
rowerS is decreasing so that they cam
not pay their notes. The banks had bet
ter save themselves by saving their
people and helping to make them pros
porous.
In Sherman's 1869 speech he said that
the only ones who would suffer from
a contraction of the currency would be
the capitalists out of debt, the salaried
officers and the annuitants, and that al
though the price Of products would fall,
the taxes would not decrease.
The salaried officers will have to sub
nit to reduction, and the annuitants
will soon have no annuities if things do
not mend, said the speaker. In 1878
Carlisle in a speech, divided the people
into two classes-the holders OF idle
capital and the struggling masses who
pay the taxes and expenses of the coun-
try, and Blaine divided them into the
same classes.
The farmer and the laboring man,
said Mr.. Bryan, say that they want BIZ
metallism because it will benefit them.
The Eastern fnancier says he wants
| honest money" because it is best for
the laboring man, and that the mine
owner wants free silver for his own ben
eft Free silver will not give to the
mine owner a dollar more than it takes
from him, but it will give to the farmer
| ard the laboring man five dollars where
| they have none. He advocated bimetal-
| lism because it would benefit him and
would leave to his children financial
system that would make them prosper
| GUS.
! Prince Bismarck said to the farmers
Of Germany the other day that they
1 iai, tt1n1- To hal, hnr,
from the drones Of society who do moth
| ing but to produce laws. There is con-
fict between bimetallism and monomet-
allism that cannot cease till one or the
other triumphs. There can be no compro-
mise, and any man who loves his coun-
| try, his children, must stand by bimet-
alliSm. The ratio is immaterial, but II
we have free coinage it will be 16 to /,
because to change it would create too
much distress and fiuctuation, and to
| double it would destroy one-quarter OF
| the money of the world and increase the
worlds debt billions of dollars. If BIZ
| Inetallism obtains, either the parity
| will be maintained or gold will go to a
premium. If the latter, will it be any
worse than now? 1t is better to fail than
not to try at ALL Whether we can main
| tain the parity or not, we must try, for
there is nothing else TO do. We have
waited in vain for twenty years for in
ternational agreement. 1t is time to de-
clare independence of the financial DOM
ination of Europe. He appealed to their
patriotism to come to the rescue OF
their country and of its struggling
masses Organization should go on in
every direction and political lines be
| laid aside. He bade godspeed to the sill
yer Democrats and silver Republicans
who were trying to bring about bimet-
| alTSm