The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-13

encouraged him In 1t and still encourage
him 10 the almost extent cannot escape
the condemnation Of the honest, working,
business men of tho country as equal
partners In his guilt.
Tho repeal of the Sherman law. which
was the first point Of attack OF this unholy
alliance, was only accomplished through
the aid and In conjunction with a majority
OF tho Republican senator's, and this Dem
ocratio president SO called accomplished
what was not possible for any Republican
executive under the circumstances TO have
brought about. A change OF the party In
power had left q large number OF offices In
his gift with which TO buy votes. Harri-
son would have had no such advantage.
The Democratic party had demanded q ro-
peal of the entire Sherman law as a make
shift for free coinage. But that woul
have cut this so called endless chain. Tho
parity clause was absolutely necessary to
give excuse and color TO n demand for the
retiromont OF the greenbaoks as n means o:
stopping tho Tissue of unending bonds.
So they repealed only SO much of'it as
suited their purposes.
But let ~ consider what the honest
meaning Of parity In tho sherman law
was and Is. What Is the meaning OF
''parity'' as given In the dictionary The
language Is:
"To maintain the two metals on a parity
with each other upon the present legal ra-
ito or such ratio as may be provided by
law"
Now, II I should lie down on this floor,
my head and feet would be on a parity, so
far as tho floor Is concerned. IL / stand
up, my body Is still on the floor, but my
head is up here and my feet down there.
The head in this instance represents gold,
the feet silver, and that is the parity which
this paragon Of presidents has given us.
1t did not soy the parity OF coin, mind
you, meaning tho coined dollar. 1t said
tho parity of the metals, the ratio OF 10 to
/. The words could not mean that upon
ono metal was to BIO imposed the duty of
holding up the other and OF redeoming by
itself the paper dollars based on both or on
silver Alone.
The object was to have them assist each
othor, 10 hold silver up by holding gold
down, and an honest secretary OF the
treasury, who should have resigned his
office rather than submit to the dictation
of q bosotted chief, would have paid out
silver to protect the treasury from the
gold gamblers and bond grabbers, as the
law and his oath of Office required. But.
alas, tho old breed of southern statesmen
like Calhoun, who, after a life spent in
the public service, had to be buried at pub
lie expense and his debts paid by the state
of South Carolina, appears to be passing
away.
Gold Standard Responsible.
Mr.. President, If there has been one idea
more Professionally and prominently pre-
scented TO the American people by Presi-
dent Cleveland than any othet, 1t has been
the iniquities of the tariff and the demand
for its revision. In season and out of sea
son, with ''damnable iteration, " he has
sung this siren song In the ears Of the
farmers. Listen to this paragraph from
his message Of 1887:
In the present state Of legislation the only
p~retenso OF any existing executive power to
restore at this time any part of our surplus
revenues to the people by its expenditure con.
sists in the supposition that the secretary OF
the treasury may enter the market and pur'
chase bonds of the government not yet dne al
a rate of premium to be agreed upon. The
only provision Of law from which such q power
could be derived IL found In an appropriation
bill passed a number Of years ago, and IL Il
subject TO the suspicion that IL was intended
as temporary and limiting in its application,
instead Of comforting q continuing discretion
and authority. No condition ought to exist
which would justify the grant of power to a
single official, upon his judgment of its neces'
sity, to withhold from or release to the bust
ness of the people in an unusual manner mon
ey held in the treasury and thus affect at his
will the financial condition Of the country, and
IL 10 Is deemed wise to lodge in the secretary OF
the treasury the authority in the present juno
ture TO purchase bonds il should be plainly
vested and provided, as far as possible. with
such checks and limitations as will define this
officials riglt and discretion and at the same
time relieve him from undue responsibility.
Evolution of a Tyrant.
I quote 1t for the purpose Of pointing
out tho evolution of q tyrant and Of show
ing tho transition from n conscientious
law abiding chief magistrate to an AFRO
CANT and obstinate ruler who ignores the
law and issues bonds at will and issues
them under q statute that Is "subject to
tho suspicion that IL was intended TO bo
temporary and limited in its application,
instead Of comforting a discretionary au-
thority." He not only issues them, but
does 1t secretly. with his law partner as a
witness to the contract, and has created
tho suspicion In tho minds Of millions of
his countrymen that q president Of the
United States can use his high Office for
private gain.
The suspicion, like damned spot"
has been burned into tho brains Of tho
people and will no more tout" than Dun
cans blood could DO washed from the lily
hands of the demented Lady Macbeth.
And hore lot mo remark, in passing, that
this last Of the Democratic presidents (for,
mark my prophecy, he Is the last that
party, as now organized, will ever elect)
will go down In history and his two ad-
ministrations will be chiefly remarkable,
tho first as having to deal with a largo and
unwieldy surplus, which entailed the
necessity, as no commended, for the pur-
chase OF undue bonds at an exorbitant
premium, while his last hos been signal.
lied, after a persistent adherence to his pot
schemes of finance and taxation, by a def
icit, by tho issue of bonds, contrary to the
law, TO pay tho current expenses of the
government, and an Infamous attempt to
increase the bonded debt OF the country
moro than $500, 000, 600, and tho surrender
To those same corporations which ho SO
, abused of tho absolute control Of our paper
currency.
The Democratic party elected him and