The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-07-23

TWO mllllOn uOildf9 WOfbn VI biiNor
month would be disastrous to the credit
Of the United States.
At that time the government bonds
outstanding amounted to sl,726, ,9S3, $50.
OF this sum, S748, ,667,100 we're 8 per
cents; s703, 266,65 8 per cents; 5000,
000,0 900 AZ per cents, and s75, 100000 4
per cents.
Senator wadleigh, In speech delivered
In the senate on February IA, 1878, said /:
When this unfortunate agitation was
begun, our interest bearing debt was
rapidly being refunded at 4 per cent
This discussion has killed the refunding
process. The many symptoms Of
reputation, will prevent our selling in
the future any bonds bearing less than 8
per cent. interest. doubt whether even
per cent. bonds can be disposed of IL this
bill becomes law"
Every paper favoring the single gold
standard gave out forebodings Of disaster
In all shapes. All the senators opposed
to free coinage endorsed Wadleigh' g
views and howled calamity. This ALI
son-Bland bill passed and President
Hayes vetoed IL, but both houses Of con-
gress gave the bill two-thirds, and IL be-
came law despite the presidents veto.
Mr.. Mckinley supported the measure
throughout.
Now, let us see what took place after
see II Wadleighs' predictions came true.
The records show that not only was the
government able to refund the entire debt
at 4 per cent, but q short time after the
passage Of the measure the Secretary OF
the Treasury was able to get all the
money he wanted, at 8 per cent, and later
another secretary borrowed at Q per cent.
Instead, then, Of loss TO the govern
ment by this measure, instead Of losing
credit there was a TREMENDOUS gain, that
may be reckoned by hundreds Of millions.
Not only this, but business revived In
every direction. Facts are stubborn things
often upset the predictions Of calamity
howlers, who only prophesy what they
want to happen. These same gentlemen
are proclaiming again, disaster, II fret
coinage prevails.
The Sherman law of 1890 doubled the
silver purchase, but after 1t failed to re
elect Mr. Harrison and continue the Re
publican party In power, they wanted II
repealed. So early in 1898 their organi
began to lament the diminution of tn,
gold reserve In the treasury, saying 1t wal
because of alarm that the country wal
going tn silver basis. Thus was tn,
scare got up that soon brought ON IT,,
panic of 1893 that forced thousands int
bankruptcy. The whole scheme was
conspiracy against silver, got up by ant
in the interest Of, gold magnates, to repea
the silver purchasing law and compel tn,
government to sell bonds and keep VI
the supply Of gold.
In discussing, in the senate, the repea
Of the Sherman silver purchasing law
good times and business revival werl
promised IL Ii were repealed. Well,
was repealed after a long contest tn
whole power OF the Cleveland administra
tion assisting; but the promised improve
ment has not come yet.
These references go to show the ute
unreliability in these great and dis
tinguished gold authorities, both In an,
out of congress Their promises hav
proved hollow, and were only made to de
ceive. They put on airs of wisdom whel
results show their lack, even Of common
sense. Is 1t any wonder the people go
tired Of their rule and ruin and concludes
to send them adrift at Chicagop TIL
way voters, here otfore of all parties, or
: rallying to tine Chicago platform an
candidates Ia encouraging to the Demo
: Gratis and all others who favor the doubl
standard Of the constitution, which make
"gold and silver tender in payment o
debts"
In times like these 1t Is that party
lost sight of, and people rally en- mass
to save themselves. We have seen n
essential difference in the arrogant an
treacherous gold leaders of both tn
great political ORGANIZATIONS. And henc
the bolting of certain gentlemen who di
not have their own way at Chicago. "
read in the Lays Of ancient Rome of
united people:
"Then none were for party
Then all were for the state;
The rich man helped the poor;
And the poor man loved the great.
Then lands were fairly portioned,
Then spoils were fairly sold;
The Romans were like brothers
In the brave days Of old"
A. MoGregor.