The times. [volume] (Richmond, Va.) 1890-1903, 1896-08-13

tury as the present court had 10 depart
from them?
When courts allow rehearings they ad-
nit that error Is possible The late de-
cision against the income tax was rem
dered by a majority OF one. after a re-
hearing.
THE INCOME TAX.
While the money question ovcrshadows
all other questions In Importance. / de-
sire IL distinctly Understood that ! shall
rner no APOLOGY FOR the 1ncome-tax
ulank OF the Chic3gO platform The
income tax is not new, nor Is IL based
upon hostility 10 tie rich The system
!. employed in several Of the most i'm
portant nations in Europe. and every IN
cOme-tax law now upon the statute books
in any land. 50 far l have been able
90 ascertain. contains an exemption
clause.
While the collections OF an income tax in
other countries doe not make II neces-
sarv for the natioh 10 adopt the sys-
TEN. yet it ought 70 moderate the lam
puage Of those whoi idenopnce the income
tax as an assault upon the well-to-do
man. not only shfl / refuse 10 apollo
gize for the alvocscy OF an income-tax
law by the Nationti Convention. but
shall also refuse . apologize for the
exercise by IL Of the right 70 ~.ssent
from a decision OF ihe Supreme Court.
THE MONEY MOVEMENT.
Now let me ask you 70 consider the
paramount question Of this campaign
the money question. IL Is scarcely neces-
sary TO defend the principle OF bimett-
ism. No national party during the entire
history OF the United States has ever
declared against H., and no party IN this
campaign has had the temerty TO op-
post IT, Three parues-the democratic.
Populist and Silver parties-have not only
declared for bimetaIlism, but have out
/ lined the specific legislation necessary
( 10 restore silver 10 its ancient position
/ by the side of gold.
The Republican platform expressly de-
/ clares that bimetallism is desirable, when
/ il pledges the Republican party TO aid
| i'm securing 10 as soon as the assistance
| of certain foreign nations can be OBJ
/ tained. Those who represented the mi
nority sentiment in the Chicago Cpnyen-
ton opposed the free coinage Of silver by
I the United States Boy Independent action
ON the ground that in their judgment it
would retard or entirely prevent the es-
| tabishment Of International bimetallism,
/ 10 which the efforts of the Government
! should be steadily directed"
When they asserted that the effort
/ should be steadily directed toward the
| establishment OF International bimetal-
usm they condemned mOnOmetallism.
| The gold standard has been weighed in
| the balance and found wanting. Take
! from it the powerful support Of the
monev-owning and the money-changlng
classes and IL cannot stand for one day
in any nation OF The world. 1t was
fastened upon the United States without
! ditcIssion before the people and its
friends have not as yet been willing 10
risk a verdict before the voters upon
| that issue.
| IRRECONCILAELE QUESTIONS.
There can De no sympathy nor no CO.
| operatiCu between the advocates of 4
universal gold standard and the adyo-
| Gates Of bimetallism. Between bimetal-
| Ism-whether Independent or information
! al-and the gold standard there Is an
| impossible gull j. this quadrenniai agi-
tation i'm favor Of International bimetal-
/ Hsm conducted in good faith. or DO our
/ opponents really desire TO maintain the
! gold standard permanently Are they
/ willing 10 confess Doc superiority ct "a
double standard when Joined IN by the
/ leading nations Of the world. or DO they
suu insist that gold is the only metal
suitable for standard money among
/ civilized nations?
il they are in fa,t desircIs Of securing
/ himetallism. wc may expect them 10 point
| ont the evils OF a. gold standard AMI de-
/ fend himctallSm as system IT, OBJ
the other hand. they are bending thoil
/ energies toward the permanent establish
mont of a. goll standard. under cover of
/ declaration in favor of internotiona
hlmotallism. ] am justified I'm suggesting
that honest money cannot be expected al
/ the hands OF those who deal dishonesty
with the American people.
AN HONEST DOLLAR.
What is the te.t of honesty I'm money
IL must plainly hc found in the pur
/ chasing uovor Of the dollar. An abso
lutely honest dollar would not vary n
it's general purchasing power; IL would
be absolutely stable when measured by
/ average prices dollar which Increases
/ in purchasing power is just as dishones
as dollar which decreases i'm uurcha s.
ing power II cannot be successfully
claimed that monometallism or himetal
lism or any ether system gives an absO
iufclv just standard OF value.
T1dcr both m0nomctallsm and bimetal
liem the Government fixes the weight anl
+ fnoness of che dollar Invests II with le
eal-tender qualities. and then opens th'
miuts TO its Unrestricted coinage. loavins
the purchasing power OF the dollar Z,
Bimctallsm IS better than monometal
Ism. not because it gives us Derfec
dollar-that is. 20 dollar absolutely un
varying in its general purchasing power
bat because it makes n nearer approach
10 stability 20 honesty. L. justic. than
gold STANDARD possibly can.
Prior to 1873. when there We're enougi
oren mints to permit AN the gold an'
silver available for coinage. 10 lind %
entrance into the worlds volume of stand
ard money. the United States might hav'
maintained gold standard with less ln
Jury 10 the people OF this country. bu
now. when each step towards a universa
gold standard enhances the purchasing
power OF gold. depresses prices. and trans
fers 10 the pockets cf the creditor clas
an unearncd increment the influence o
this great nation must not be throw
uoon the side of gold unless We are pre-
pared to accept the natural and legiti
mate conse0uences Of such an act.
WHY FARMERS OPPOSE IT.
The farmers are opposed 10 the gold
standard because they have felt its ef
fects. Since they sell at wholesale and
buy NJ retail. they have lost more thar
they have gained by falling prices. and,
besides this they have found that certaii
fixed charges have not fallen at all.
Taxes nave not been perceptibly de-
creased although IL requires more Of farm
products now than formerly 10 secure IN
money with which 10 pay taxes. Debts
have not fallen. The farmer who owed
Si.0l0 is still compelled 10 pay 81 .000 all
though IL NAV be twice as dinicult a.
formorlv to Obtain the dollars with whic