Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-10-15
GOLD STANDARD PROPHETS.
Their Promises to the People Unfulflled
and Their Purposes Made Plain

and Their Purposes Made Plain
Underneath the flimsy disguise which
the money power has assumed in this
campaign the real explanation of the
fight which is being made with so much
bitterness on free coinage can be dis
tinctly observed. Expressed in nut
she'll it is nothing more or less than a
deliberate scheme on the part of the
money power to contract the nations
currency, and the single gold standard,
though calculated to produce great
havoc, is only one Of the methods by
which this result is to be obtained.
To fully establish the truth of this
statement it is only necessary to cite the
former contentious of the money power
and contrast them with its present stti'
tude on the money question
Three years ago the same men who
are now advocating the single gold
standard as a remedy for existing evils
were clamoring for repeal of the pur-
chasing clause of the Sherman act. 1T
was claimed by these false prophets that
a repeal of that clause would restore
national prosperity and impart healthy
tone to business all over the country.
They furthermore insisted that nothing
else was needed to promote the welfare
of the American farmer, and that just as
soon as the purchasing clause of the act
was repealed he would begin to reap the
Just reward Of his labor.
One Of the most conspicuous Of these
holding the single gold standard, DR..
Chauncey NJ. Depew, expressed himself
in an interview published in the New
York Tribune, July 80, 1898, as fol-
lows:
The repeal Of the silver purchase clause of
the Sherman act of July a. 1890 will release
money here and bring money from abroad. 1t
will do infinitely more-it will permit the use
| Of credits which are now so fearfully curtailed
and which constitute 05 per cent of the cur
rency Of the country.
| Such was the earnest fight which the
money power of the country made in
favor Of repeating the purchasing clause
Of the Sherman act that the day was
carried and the clause in question was
repealed
But what was the result? Did money
immediately begin to circulate in this
country, as Dr.. Depew and his COL
leagues 50 glowingly predicted? If it
did, the laboring people failed to ex-
perience the satisfaction Of having q
single dollar added to their yearly earn
ings On the contrary, their wages were
reduced, and as much suffering never
prevailed among the masses as during
the years which have since followed.
The farmer has met with one disaster
after another, while his crops have net
ted him far less than the care and labor
bestowed upon them should command.
Merchants have likewise suffered from
the paralysis of hard times, and failures
without number have been recorded il
all parts of the country. Establishments
both large and small have been forced
to the wall on account of the stringency
Of the money market, and many banks
have found it necessary to suspend busi.
ness. 1t is no exaggeration to say that
such period of stagnation and depres
sion has never been known in this ooun'
try as the one which has followed the
repeal Of the purchasing clause of the
Sherman act.
| Notwithstanding the utter and ridicu
lous failure which they have made al
prophets, the same men who advocated
a repeal Of the purchasing clause thret
years ago now come forward witt
brazen audacity and uphold the merits
Of the single gold standard.
| Having been deceived once by the
spurious logic and affected patriotism O.
these men, the people are not apt TO bt
so easily deceived again. Moreover
they have made a thorough study Of th'
money question, and they realize thu
fact that national prosperity will con
tinue to be dream and delusion unit
silver is restored to its former place il
the currency of the nation.
Should the money power succeed il
this outrageous scheme to defeat bi
metallis1n, the next step in order will
be to retire tho greenbacks.
In spite Of the frantic appeals whicl
these false prophets are now making
the people Of this country will not ALLOW
themselves to be deceived again. In
stinctively they recoil from the singh
gold standard, and the more they stud.
it the more abhorrent it becomes.
When gold and silver were both car
ried to the mints under equal condi
tions, this country prospered as it neve
has since, and the farmer realized goot
price for everything be produced.
Until this condition is restored ther,
can be no permanent national prosper