The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-10-30

a financial policy Of its own. Bimetal.
lism would broaden the basis of our na-
tional credit. and fortify US against the
danger resulting from the expectation Of
the single standard metal. The evil Of a
failure Of wheat crop is neutralized by
a good corn crop But il mankind de-
pended on single cereal for brcadstuff
its failure would mean starvation. We
are producers of both gold and silver,
and should declare and maintain our
financial Independence. and leave those
10 wait on European diplomacy for our
financial policy who would wait on Eu-
ropean craftsmanship for ur code of po-
litical ethics. Applause.
1.-The charge is made that free coinage
OF silver means Reputation. As this
charge always originates in the same
quarter is always inspired by the same
creed. and always intended for the same
purpose, it might be well to refer
briefly tn the history Of reputation in
this country. Debt involves a contract
between debtor and creditor Can only
the creditors side of the contract be
repudiated? Is there no such thing as
violating the equities of the debtor? In
1876, Aug. 10, congress authorized the
appointment of THE United States
monetary comm ission.' consisting of
three senators. three representatives and
three private citizens. experts i'll finance.
to investigate the cause of the COM
mercih depression then universal
throughout the country. A majority of
this commission were Republicans. and
Senator John p. Jones of Nevada was
chairman. After long and thorough
investigation that commission reported
to congress. On page 80 of that report
they use this language:
If all the debts in this country had been
doubled by AN act of legislation. it would
have been a far less calamity to the debtor
and the country than the increase in their
real burdens already caused by contrac-
ton of the volume Of money.
This language is plain and explicit. 1t
was the result of thorough investiga-
ton. 1t means that if we had passed
law arbitrarily doubling our national
debt, our state debts. our corporation
debts. our municipal debts and all our
private debts il would have been far less
ruinous to the debtor and the country
than was the violent fall Of prices and
wages due to contraction Of the cur
rency. Under that policy the equities
of the debtor were utterly destroyed, the
obligations under his contract were
doubled. his burdens frightfully in
creased and yet it is not recorded that
one of the virtuous. highmindcd citizens
who talk so glibly Of Reputation ever
lisped syllable against that wholesale
reputation of the rights and equities of
the debtor class of the country. This
most vicious Of all kinds Of reputation
is going on today all over this country,
and unless congress does its duty in the
premises our courts will become simply
courts of confscation. Free coinage, so
far from involving repudiation. will re-
vive stagnated enterprise and arrest the
reputation which is brought about by
the enhancement of the value of securi-
ties and destruction of the value OF other
forms of property.
THE optimist may prophesy and the
enthusiast may chant peans to the sue
cess Of our institutions. but the indus.
trial horizon is not without clouds, nor
the pathway of our old ship of state
without breakers. The clouds are not I
there by foreign influence, nor the |
breakers from foreign force. The dan
ger is from within, not from without. |
Sir Archibald Alison. the most philo- !
sophie historian of modern times, re- (
cords the fact that the metallic money
Of Rome mt the beginning Of the Chris
tian era was 81, 800. 600 900. while in the
10Th century II had shrunk to $500. 0OO.-
0O0 He traces with peculiar distinct
ness the fatal influence of decreasing
currency on the occupations and charac-
ter of the Roman people. and shows how
the bold Roman yeOmanry were sacri- /
feed to usury and taxation until the |
millions of small land owners were dis !
franchised from the soil. agriculture de- |
stroyed, lands turned to pasturage, and
the plundered and disheartened rural
population left to starve or JON the car
nival OF vice, corruption and de-
cay in the larger cities. The
wealthy looked upon the government
as mere instrument for self-aKgra nd.
izcment, the poor saw in it only an
engine Of extortion and plumber. and /
patriotism died in both. Opulcnce,
luxury, and vice enervatcd the one; pow.
erty. misery and despair destroyed all |
spirit in the other. The disorganiza-
ton of society was completes; there was
no hardy peasantry left to resist the
northern barbarians and the civiliza-
ton Of the west disappeared amid the
gathering gloom Of the dark ages.
1T requires no genius 70 trace the
momcnt0us changes going on in the
of our national life. Agri-
culture is losing that character which
makes 1t at once the pride and strength
Of nations. The prosperous rural home
has ever been the nursery Of patriot
ism. the fortress Of society, the infalli-
BILE hostage TO civilization. But this
institution which stands for all that it
is worth human effort to save has lost
Its rightful place in the structure Of our
laws. The blasphemous nuptials of
greed and legislation have wrought the
4 decreasing money
y r..