The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-08-13
SOME PRoPHEsIEs.

1t was bitterly opposed by the moneyed
classes, as is every measure for an enlarge
ment of the money supply, except when
those classes themselves wish to enlarge
1t for their own advantage by the issue of
bank notes. 1t was vetoed by the Presi-
dent and oil sorts Of extravagant objec-
tlons were made to 1t. AS will be re-
membered, It provided for the purchase
and coinage of not less than 100000
or more than s4,O0O,o0O worth Of silver
bullion each month. 1t was declared that
the law would literally flood us with
cheap silver; that 1t would drive all the
gold out Of the country and leave us upon
a deprecated silver basis. Fifty millions
of silver dollars were all that could be
safely coined. More than that would
drive the gold all out of the country and
then would come ruin
Well, we coined fifty millions Of those
dollars. Gold obstinately refused to go
abroad, but on the contrary persisted in
coming in more rapidly than ever. One
hundred millions of them were coined.
Still the gold came in and still no ruin.
But it was "coming-always coming.
Two hundred millions of these dollars
were struck. No expulsion Of gold,
but large imports, and ruin still away off
in the dim distance.
In 1885, after his election, Mr.. Cleve-
land wrote his famous Warner letter,
addressed to General Warner, Mr.. Bland
and others, In which he strongly urged
the repeal of the Bland-Allison act, pre-
dieting all manner of oalamities to come
II 1t were not done. He repeated the
same thing in nearly all o. his messages
, to congress, and II there was financial
, i'll to befall the country in consequence of
silver coinage, that he failed to mention,
it was merely because he could not thin k
Of 1t.
But the law was not repealed We
went on coining silver and at the same
time accumulating gold until 1890. BY
this time We had coined about three
hundred and seventy millions of silver
: dollars and at the same time had added
not less than 5000, 900, 900 to our stock Of
gold.
r Still no ruin, and instead of having to:
much silver the people were hungry ant
4 clsmoring for more. This led to the pas
sage of the famous Sherman law provid
ing for the purchase of 100000 ounces
. suance of treasury notes thereon. 1t wa
9 not what the people were asking for, bu
u it was the best that could then be oh
tained.
4, In 1890 the Barring Brothers failed, the
@ Bank of England was tottering ant
n grasping eagerly for gold. Heavy draft
were made upon the United States an,
many millions of American gold yEwer
drawn off to relieve the necessities O
% Europe.
Il The Sherman Law" was made tt
p scape-goat, and when the panic, whic
IS began in England, swept around tn
n world and finally reached the Unite
States, 1t was aggravated and intensifle
n by the action of the great banks of Ne,
n York, that declared tine Sherman law wa
l. the sole cause of the trouble and insiste
ID upon its repeal.
70 Mr.. Cleveland called congress togethe
for the single purpose of repeating tina
"a measure, declaring 1t to be the cause O
le the trouble, and that removal of tn
ID cause would speedily restore prosperity
s. While the bill to repeal the purohasin
clause of the Sherman law was unde
: discussion, Mr.. Sherman made this prC
as phesy: SIN ten days the skies wi
Or brighten, business will resume its ol
le dinary course, and the clouds that lowe
u upon our house will be in the deep bosoI
y of the ocean buried But still the pro-
al
"A perity has not come, and yet it is almo'
three years since the Sherman law wa
h. repealed
90 AS prophets, the gold champions hay
p b,en discredited and condemned by IL
:, utter failure of every prophecy they hay
made since the silver agitation began.
Let the people now do little indepen'
RS emit thinking for themselves, disregard ii
he mournful croakings of Wall street ar
H. London, elect Bryan and Sewall, and II
40 the effect of a genuine American poli'
for the American people.
40 -
ITO IL Goes without Saying.
ey that when you are suffering from oatarr