Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-29

discrediting silver and enhancing the
price of gold. He endeavored even be-
fore his Inauguration to Office to stop
the coinage OF silver dollars. and after
wards. and to the end Of his adminis-
tratiOn, pcrsistentiy used his power to
that end. lie was determined to con-
tract the circulating medium and de-
monetiZe one of the coins of commerce.
limit the volume CT money among the
people. make money scarce, and there
fore. dear. lie would have increased tie
value Of money and diminished the value
OF everything else-money the master.
everything else the servant"
In his annual message to congress in
December. 1880, President Harrison
said with reference to the operation of
the Sherman silver law, then but re-
Gently passed:
The enlargement OF our currency by
the silver bill undoubtedly gave an up-
ward tendency to~trade and had a
marked effect on prices, but this nat
urai and desired effect Of the silver leg
islation was by many enormously at
tributcd tC the tariff act"
In his annual message of Dec 6. 1892
President Harrison. speaking of the
international monetary conference
then in session (:he last enc that ever
metz. said:
'1fany temporary check or DELAY in
tervenes, believe that very soon COM
mercial conditions will compel the now
reluctant governments to unite with ia
in this movement to secure the en-
larSement Of the volume of coined
money needed for the thransaction of
she business of the world"
But the reluctant governments have
not united with US, and show no dis
position to Go. Prince Bismarck saws
the surest way to secure their CO.
operation Is for the United States to
declare for International bimetaIlisrn.
General John A Logan said of the
policy Of contraction that accompanied
the demonstration of silver:
Il, fer one, can see benefit only to the
money-holder and those who receive
interest and have fixed incomes. I
can see. as a result of this legislation.
our business operations crippled and
wages for labor reduced to a mere pit
tance. l can see the beautiful prairies
of my own state and of the great west,
which are blooming as gardens, with
cheerful homes rising like white tow
ers along the pathway of Improvement.
see mortgage fiends at their hellish
work. l can see the hopes of the in
dustrious farmers blasted as they burn
corn for fuel because its price will not
pay the cost of transportation and div
idends on millions of dollars of ficti-
tious railway stocks and bonds. I car
see our people of the west groaning and
burdened under taxation to pay debts
of states, counties and cities incurred
when money was more abundant and
bright hopes OF the future were held
out to lead them on. / can see the peo-
pie of cur western states, who are pro-
ducerS, reduced to the condition of
serfs to pay interest on public and
private debts to the money sharks of
Wall street. New York. and of Thread
needle street in London
Senator William B. Allison Of Iowa
said in the senate June 6, 1890:
'The affairs of this world cannot be
conducted upon the single basis Of
gold: and the war and contest today is
between those who seek to destroy and
outlaw silver and those who seek to
place 1t upon an equality with gold.
That is the contest. and / am for the
full and complete restoration of silver
as one of the coin metals of the world,
and therefore. propose to do whatever
I can to promote that most desirable
object"
Bob Ingersol! said: Silver was de-
monetized by fraud. 1t was an impo-
sition upon every solvent man: a fraud
upon every honest debtor in the Unit
ed States. 1t assassinated labor. 1t
was done in the interest of avarice and
greed, and should be undone by honest
men. The farmers should vote only
for such men as are able and willing to
guard and advance the interests Of la
bor.'
Senator Thurston said: 1T Is better
that we should. If necessary, buy gold
at premium to settle our foreign bal
ance with than that the American peo-
pie should be compelled to pay higher
prices in human labor and human en-
deavor for a dollar because of the
adoption of the single gold standard.
/ am an advocate of the American the
DRY. I have no doubt the remonetiza-
ton of silver in the United States
would speedily and certainly appre-
ciate the price of silver, not only in
this country. but throughout the whole
world
Ex-Congressman Butterworth of
Ohio, in a recent letter, said:
rs it not folly to suppose that the
capitalists of England-and they are
the capitalists of the world-will be
easily persuaded to agree or consent
to bimetallism? Why should they?
How is it to their interest to do Sc, while
We consent to make 1t to their advan-
tage to refuse? They have doubled the
value of their credits by demonetizing
silver, and thus. in effect, doubled
the interest received by them. The
United States Numbered into that trap
| and within a year beggared millions OF
her citizens. and. II We adhere to the
blunder. will beggar 5000 900 more, and
/ double the burden of every debtor and
every burden-bearer in the land
| The Republican national platform of
1883 said. William Mckinley being
chairman Of the committee on plat
/ form:
| The Republican party is in favor OF
the use of both gold and silver as
money and condemns the policy of the
Democratic administration (Cleye-
lands first administration In its eff
forts to demonetize silver"
The Republican national platform OF
1892 said:
The American people from tradition
and interest favor bi,netaIlisr, and fbs