The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-09-11

this Ii no wise Affects the cure ncy
system This IL abundantly demon
strated by the fact that last week
when the gold reserve ran down TO
obout eighty five millions Of dollars
there was lying idle la the treas ury
q surplus Of one hundred and sew
enty- .hree millions Of collars, and
stili the government was as help
less to supply itself with gold AS II
the treasury had been absolutely
empty. And, aside from this, IL Is
difficult tessee how higher taxation
would benefit the people.
Here, then, we have y system OF
finance with eight bundred millions
OF token money, all dependent On
one hundred millions Of gold, more
than five hun fred millions Of which
Is payable upon presentation to the
treasurer. We are compelled when
Vt Is edeemed to lock IL up, take 1t
out OF circulation for fear II will be
immediately presented again for re-
demption, thus forming, as Mr.. Car
LILLE aptly terms 1t, an endless chain
which no human ingenuity
can break or. prevent under the law.
Set II In motion and In ten days the
entire gold reserve viii vanish.
Who can set 1t In motion? Wall
street In America, or Lombard
street In Tendon. This Is a system
Of which II has been truly said, SIX
men In Wall street can build up
or tear dawn In ten days.
Thus, my friends, the nation,
seventy million strong, with six bill
lions of wealth, Ia the p'aything OF
capital, and yet Mr.. Fairbanks tells
US the system ais the result Of repub-
lican wisdom"
Let me ask the intelligent voter,
il Ia q time Of peace this gold reserve
cannot be maintained, but In three
short years two hundred and sixty
two millions Of bonds are necessarily
issued and sold to maintain It, what
will become OF 1t and Us when the
Out-sta ndipg bonded indebted ness
OF over one billion Of dollars Is pre-
scented for payment? Will some
gold mOnometailist tell me where
this billion Of dollars Is to come
from IL 1t be true that this coin bond
Indebtedness Is to be paid in gold?
But why argue this question with
our republican friendr? They de-
clare Ia the st. Louis platform they
are In favor of bin tallism, but not
now, not until the civilized nations
of the world will consent to an In
ternatiOnal Agreements. Within the
pact eighteen years there has been
three international monetary con-
| ferences to solve the silver question
in 1878, In 1881, and In 1b92-and
yet we are no nearer an international
agreement than we were In 1878
Suppose they never consent, then
are we to pursue q policy Of gold
monometallism (which they con-
demp) until 1t has bankrupted the
nation and pauperIEed our people9
II the principle Of bimetaIlism Is q
correct one, why daily In the lap OF
Delilah until we are shorn OF al
strength Besides, Mr.. Chairman, j
firmly believe that the true and
speedy way In which 10 force Other
civilized nations into an inteTna
tlonal agreement IL to Yesolutely anC
firmly set the example.
We are great nation having al
most the population and wealth OF
Engla nd, France and Germany com
bined, and II 10 un-Amerioan, IN
patriotic, and an unpardonable sir
to presist In q course OF conduct tina
brings nothing but bankruptcy {,
our people until some other govern
ment ehall consent to join In q re
forIna tion.
And now. Mr.. Oh Airman, for q few
moments I wish TO dircuss the sec
ond proposition. What effect hs
this system OF legislation had upor
the people?
First, The present system-that o
gold monOme llism- Is as curren
history deInonstra tee, class legisla
ton. It results In increasing. tn
wealth OF those who are alread,
wealthy, In undue proportions h
that Of the producer, and thus array
the rich against the poor and middl
classes. Already this early In tn
campaign the question Of bimetal
lism or gold monom etallism IL beinI
changed to that OF the rich agains
the poor. We are calling the golt
advocates, gold bugs, aristocrats
cate bimetallism are denounced 81
idiots, repudtatOrs, anarchists. etc.
The Legislation tends to divide on
people, not upon economic Issues
but into classes warning faction
| WuOee lIcuZy mSy Ic0Cu pun
where reason and statesmanship cal
not. contfol 1t. Wealth IL concen
trated in the hands IL the few, Will
poverty is the lot Of many. An,
legislation which tends to wider
the breach between these classe
must OF necessity be vicious in 1t
consequences. The wealthy whose
riches consist in gold, bonds ant
stock, and from which they deuvs
incomes, are, as rule, whether the.
be democrats are republicans, II
favor Of single gold standard. Fol
the reason, first, because they Cal
control, manipulate, and corner
single standard easier than they cal
a double sta ndard. / Is abs0lutel.
certain that IL the Secretary Of tn
Treasury as compelled'would tende
to these raiders upon the gold re
serve fund that other coin-silver-
written in the. bond as plainly as l
the word gold-when 1t was not con
venient or was impossible to pa
gold, these raids would cease IN
J stantly
1t is the option Of the government
which has been construed wrong
! that must be returned before succes
can be obtained. Common peopl
can see no good reasons for thu