Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-09-30
THE REPUBLICAN REMEDY.
More Taxes - Less Money sh"i
Money Kings Usurp the Govern
meut.

20 the Editor OF the Dispatch:
Mr. John Sherman. Of Ohio. In the effort
which he and his party are making 10
deceive the people as 10 the cause OF
unparalleled hard times, which are bring
ing universal distress on the country.
insists that the trouble is the want or
revenue: that If we only had Mckinley
bill. with it's prohibitive tariff rates, pros
perity would return.
Mr. Sherman has so often succeeded III
fooling the people OF America that no one
need be surprised at his attempting 10 90
so again. even II his attempt involves the
ridiculous absurdity of asking the people
to believe that less money and more
taxes will bring prosperity. The people
have already solemnly declared that the
tariff Is tax. and they have Indignantly
repudiated the Republican theory that
you can tax people into Astounding
wealth and plenty. Mr.. Sherman knew or
this decision, but he is still inclined 10
trust to the bridge which has carried
him safely over in public life (and IN
private life from poverty to wealth.
viz. his firm belief In the thick skins ana
short memories OF the people. And so
he now asks us to accept this sort OF
argument as containing the highest politi-
cal wisdom-viz., times are very hard;
prices OF all commodities are steadily
falling: nothing will bring what it costs
TO produce it; labor Is out OF employ
ment; money IS scarcer than ever before
in the history OF the country-it has al
most disappeared in the rural districts.
What is the matter? Why, nothing but
this: The government is not collecting
money enough to pay current expenses.
IL
hundred millions OF dollars in the Trea-
sury, and that every dollar OF this, and
every other dollar which shall be paid
into the Treasury, is taken from the
circulation, therefore renders money stu
scarcer; but that does not matter. What
you need is to levy and collect additional
taxes. Pass another Mckinley bill, put
Up the price of everything you wear
and almost everything you eat, and good
times will return. It Is true that you
will need more money to purchase these
things and we do not propose 20 give
you any more: on the contrary, we VIII
further curtail the circulation by calling
in and cancelling the No0,0oOoc0 OF green
backs and Treasury notes Issuing Tor
that purpose interest-bearing bonds pay
ablo I'm gold which will increase the an
nual interest charge by some 500 100000
and you will want still more money to
pay that INTEREST,": and little later. in
order to keep up the gold reserve (Which
We do. not because there IS any law re-
quiring it, but in order TO supply the
gold spectators with gold free of CHARGE,
we will retire the silver dollars and silver
certificates (AIr. Carlisle has already sug-
gested "A way I'm which this can be
brought about. issuing for that purpose
1888 100000 Of Understanding gold bonds.
This will OF course. further curtal the
circulation. and further increase the an
nual interest charge by something more
than 100000. which you must prepare
yourselves to meet; but We assure you
that If YOU will trust US and keep quiet.
and give up this free-silver fad. pros
perlty will come: il will come through the
only source known TO our great party.
and by the only remedy we propose for
the present fearful condition OF things
viz, more taxes. levied and collected
through the agency Of high tarif-a
glorious system against which you seem
! to be unreasonably prejudiced.
Now. IT cannot be denied that this IL
q fair statement OF the Republican argu-
ment on the great financial question.
| and the logical result Of that argument.
| They offer nothing whatever as remedy
| for the present distressing condition ex-
cept more taxes. and every child knows
/ that more taxes mean that the people
/ must have more money with which TO pay
| them. At time when there Is a great
and distressing dearth Of money here In
the country. from which / write. this
| careful inquiry at the stores and among
/ the people discloses the fact that /. has
/ almost entirely Disappeared, they do not
| even suggest an increase of the circu-
! lating medium. but deliberately propose
| to pursue a policy, the result OF when
| they well know will be TO require an
| immediate additional use for money, ana
must I'm a short time still further re-
duce the volume of currency. For no
sane man doubts. and no sincere man
pretends to doubt. that If Mckinley is
| elected the drain on the gold reserve
will soon begin again. and that means n
further issue of Understanding bonds,
which means an increase in the people s
burden OF debit or else the retirement
/ OF the greenbacks and Treasury notes
| INV a further issue of 5000 100000 of gold
bonds). which means n further contrac-
/ ton OF the currency
And all this for what2 To carry out a
policy begun under a Republican Secre-
tary Of the Treasury Charles FOSTER,
| and continued by Mr.. Carlisle, or sur
rendering 10 the creditor the govern
ments option to redeem its Treasury
notes in silver and paying out sold Tor
| them whenever demanded, aS IL always
! will be. for thus the gold Spectator Is
enabled 10 Get his gold from the Trea-
sury free Of charge. when, II ne bought
| r. from the banks, he would have 10 pay
for it, ,,,s
And what next? When the greenoacKs
and Treasury notes shall have been re-
| tired there will remain the silver dollars
| and the silver certificates Issued on them
| the NEXT step for the Treasury TO take
! II II has that courage to follow out us
| own policy to its legitimate end, Is 10 re-
deem these in gold. Is ii possible tha'
| tho Secretary will do this? These silver
| dollars are declared in the statute to be
standard money, which means money
! OF final payment equally with gold; they
are free legal tender for all debts, PUBIC
! and private; they are at par with soiu
! VIII the Treasury dare TO degrade them
,by redeeming them In gold? Well the
| question has already been answered, Mt
! Carlisle has declared over his own sigma
| ture that If. i'm his opinion, they cannot
be otherwise kept at par with Soid' nj
| will redeem them In gold.
! What does this mean2 Why, Simply
/ that when the ereenbacks and Treasury
notes shall have been permanently win
drawn from circulation the whole money
power of the country will be directed
| against these silver dollars and silver
certificates to beat them down below par
and then present them at the Treasury
and demand gold for them. Ana then th'
| government, owned and directed by TINS
| same money power, will demand that they
| TOO he retired from circulation by the
issue of gold bonds. which the brokers vii
buy. as heretofore. at about lOi and sci
for about l24
| And what then? We shall have fol
money nothing but gold, and such ma