The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-07-11

in circulation today than there is of golC
or paper based on gold, and that the colo
dollar is not the unit of value is demon
strated by the fact that no gold dollar
pieces can now, under our laws, be
minted.
DISASTER WOULD FOLLOW.
IF we should go upon the gold stand
ard, we must change the existing bi.
metallic standard of payment of al
public debts, taxes I'M appropriations
saving alone those specifically payable
in gold AS we hav twenty billions OF
public and private debt, it would take
more than three times all the gold in
this country to pay even n years in
terest upon it. We should be compelled
hereafter to contract the currency by
paying off $500, 600 900 of greenbacks
and Sherman notes in gold, which would
nearly exhaust the entire American
stock, in and out of the treasury, and
the same policy would require that the
$344, 900 900 of silver certificates should
be paid in gold also, AS foreshadOwed by
the present draft upon the country's
stock of gold. This means an increase
of the public debt by $500, 00O, 900, with
the prospect of $344 COO 900 more. The
disastrous consequences of such a folly
are appallingly contemplated, and the
I'M dllNCl ~ ouBSOoNCA AZ WIZ AASO
coinage of silver at the ratio of Is to !
(applausel and the complete restoration
OF Jul hereditary II constitutional sys-
tenn of American money.
I'VE pray you, no more makeshifts
and straddles. VeX not the country
with your prophecies of smooth things
To come from the British-republican
propaganda. (Applause.) The fact that
the European nations are going TO the
standard, renders it all the more imprac-
teal that we should do so, for the un-
limited stock of gold in the world would
have longer division n a smaller share
for each nation.
previous predictions have been pune
tually refuted when prosperity was
~prOphesied to come upon the uncOndi-
tiunal repeal of the Sherman law. In
stead of protecting the treasury reserve,
as it was prophesied it would do, an UNI
precedented raid was promptly made on
it, and the S262. 600 900 of borrowed gold
has been insufficient to guarantee its
security. Instead of causing foreign
coin to flow to us. it has stimulated the
flow of gold to Europe, and greenbacks
and the Sherman notes. which are just
as much payable in silver as in gold,
have been used to dip the gold out of
the treasury of the United States and to
store it in the strong boxes of the lords
of Europe.
HAS o REVIVED BUSINESS.
"Instead of reviving business, this
folly has further depressed it. Instead
of increasing wages, this policy has fur
Their decreased them. Instead of multi
plying opportunities for employment,
this policy has multiplied idlers. In
stead of increasing the prices of our pro-
duce, this policy has lowered them, as is
estimated, about Is per cent in three
years. Instead of restoring confidence,
this policy has banished confidence. In
stead of bringing relief, is has brought
years of misery, and for this reason 1t
has contracted the currency OF the
United States 81 a head for every man,
woman and child since November /,
1898; and with this vast aggregate con-
traction the price of land and of manu-
featured goods, and of all kinds of agri-
cultural and mechanical produce has
fallen. The public have
fallen, wages of labor have fallen, and
everything on the face of the earth has
fallen but taxes and debts, which have
grown in burden, while on the other
hand the means of their liquidation has
been diminished. In the meantime,
gentlemen, commercial failures have
progressed with devastating effect
north, south, east and west in this ma
ton. The dividends on bank stocks
rave s%hrunken. Three-fourths oil the
railway mileage of h United States is
now in the hands of receivers, and the
country has received shock from which
it will take years to recover. Yet, in
this distressed and contracted condition
the new fiedged mOnOmetallists ask us
to declare for "A gold standard and to
wait for relief upon some ghostly dream
of an international agreement.
THE EUROPEAN CONSPIRACY.
but the people now do well know
hat the conspiracy of European mon
archs, led by Great Britain, has pur-
poses of ACKNOWLEDGEMENT to subserye in
the wal upon American silver money,
and stand in the way of such agreement.
with their credit they seek to enhance
the purchasing power of thousands and
millions which is owing to them all
over the world, and which you owe to
them. They draw upon the United
States of America for their food sup.
plies and raw material, wheat, corn, oil,
iron, lead and other like staples,
and they seek to get it for the least
Resides this, Great Britain has
gold mines in South Africa and
South America, and closing the silver
mines has greatly enhanced their prod
ncts and their values. Recent British
aggression in Venezuela and in the set
dement's of South America was moved
the desire to possess more of these
gold mines, and by monOpoliZing the
metal, as far as possible, to assert Brit
.sh commercial supremacy over the
world.
mo nation calls itself free and indie
pendent that is not great enough to es-
and maintain ID financial system
If its own. (Great applause.l To pre-
end that this, the foremost, richest aud
most powerful nation of the world can
lot coin its own money without suing
or an international agreement at the
courts of European ~autOcratS who have
zone but primary interests to subserve,
las for many years been held out at
presidential election. They have
use of such an agreement, and
ave foiIed it afterward. We have
in all our history had an interna-
ional agreement upon a money system,
md none of the founders of this repub-
ic eyer dreamed that such an agreement
vas essential. We have had three in
conferences in order to OBJ
ain it, and to wait longer upon them is
O ignore the interests of W people
nj degrade 0ur national dignity, and to
dvertise to all mankind our impotence
nd our folly.
ONLY POSSIBLE CONCESSION.
1.-The concession that comes from the
old standard men of all Europe for the
of the double standard is the !
My solution of the financial difficulties
hat we can find i'll the outlook before
IS. The declaration of the British pre-
nier and the French minister and the
goVernment, which have re- !
emily been expressed, shows that if it
ucceeds at all, it will succeed against
he sinister power of autocracy, WHICH
been used against it,
AN International agreement for the
OF the metals to an equality
you'd be a bond of mankind which !
iould enable us to regulate the value of
money and bring the two metals upon a
Alexander Hamilton, the great
ecretary of the treasury under Wash I
ngton, understood this question. He :
the first financial act of this :
.untry, which vas passed in 1892, fixing |
he unity of our currency upon both {
for IA double reason: first. that /
D exclude u would reduce it to a mere
lerchandlse; aud the other, that it G
yould involve the difference between a =
canty and u full circulation. Thomas .
efferson knew this when he Endorsed I
ne work of Hamilton, and George $
Washington knew this when he APP c
IL. Daniel Webster knew this c