Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-08-20

r issue OF treasury notes In e1chdnge for
D bullion at the market prica
= II the United States then needed mare
o than s4e, 200, 900 annually 10 keep pace
o with population and business, it now
D with o larger population, needs o still
b greater annual addition, and the United
Q States is only one nation among many
3 Our opponents make no adequate provi-
sion for the increasing monetary needs Of
the world
{ In the second place, change in the ra-
ito is not necessary. Hostile legislation
9 has decreased the demand for silver and
lowered its price when measured by gold,
' while this saTne hostile legislation, by in
. creasing the demand for gold, has raised
= the value of gold when measured by other
. forms of property.
We are told that the restoration of BIZ
metallism would DO hardship upon those
who have entered into contracts payable
In gold coin, but this is a mistake 1t will
be easier to obtain the gold with which to
meet a gold contract, when most of the
people can use silver, than it's now, when
every one is trying TO secure gold
The Chicago platform expressly declares
In favor of such legislation as may be nee
essary to prevent for the future the de-
monetization of any kind of legal tender
money by private contract Such con-
tracts are objected to on the ground that
they are against public policy. No one
questions the right of legislatures to fix
the rate of interest which can be collected
| by law. There is far moro reason for pre-
| venting private individuals from setting
aside legal tender law. The money which
is by law made legal tender must, in
the course of ordinary business, beaccepted
by ninety-nine out Of every hundred per-
sons Why should the one-hundredth man
be permitted to exempt himself from the
general rule? Special contracts have o
tendency to increase the demand for par
ticular kind Of money, and thus force it to
a premium. Have not the people right
| TO say that q comparatively few individ-
uals shall not bo permitted to derange the
| financial system of the nation in order to
| collect premium in case they succeed in |
forcing one kind Of money to premiump |
There is another argument to which l |
ask your attention. Some of the more
Jealous opponents Of free coinage point to
the fact that 13 months must elapse be-
tween the election and the first regular |
session Of congSess and assert that during |
that time, in case people declare themselves
in favor Of free cQinag6j all loans will be
withdrawn and all mortgages foIeclosed.
If thes5 are merely prophecies indul9ed in
by those who have forgotten the provisions
Of the constitution, it will be sufficient to
remind them that the president is empow-
cred to cQpTcne congress ip extraordinary
session whenever The public good requires
IN Elo Ia |
by their ballots declare themselves. in faTor
uf The i-pIEs,sdiste restoration of bimetal-
lis1n, the system can be inaugurated with
in a few months
If, however, the assertion that loans will
be withdrawn and mortgages foreclosed
Is made to prevent such political action as
the people may be,ieYe- t. be necessary for
the preservation Of their tights, tf5en &
new and vital issue is raised. Whenever it
ia necessary for the people as q whole to
obtain consent from the owners of money
and the changers of money before they can
legislate upon financial questions, we shall
have passed from democracy to q plu-
tocracy. But that time has not yet arrived.
Threats and intimidation will be of no
avail. The people who in 1776 rejected
the doctrine that kings rule by right di-
vine will not In this generation subscribe
to doctrine that money is omnipotent
International Bimetallisn,.
In conclusion, permit me to say word
in regard to international bimetallism.
We are not opposed to an international
agreement looking to the restoration of
bimetallism throughout the world. The
advocates Of free coinage have On all occa-
sions shown their willingness to COOPER
ate with other nations in the rainstate-
nient Of silver, but they are not wilma to
await the pleasure of other governIn> ITS
when immediate relief is needed by The
people of the United States, and they fur
ther believe that independent action offers
better assurance of International bimet-
allism than servile dependence upon for
eign aid. For more than 20 years we have
invited the assistance of European nations,
but all progress in the direction Of inter
national bimetallis1n has been blocked by
the opposition of those who derive peculi-
larry benefit from the appreciation OF gold,
How long must we wait for bimetallism
to be brought to us by those who profit by
monometallism? If the double standard
will bring benefits to our people, who will
deny them the right to enjoy those bene-
fits? If our opponents would admit the
right, the ability and the duty of our peo-
pie to act for themselves on all public
questions without the assistance and re-
gardless of the wishes of other nations
and then propose the remedial legislation
which they consider sufficient, we could
meet them in the field of honorable debate, |
but when they assert that this nation is
helpless to protect the rights of its own
citizens we challenge them to submit the
issue to q people whose patriotism has new
er been appealed to in vain
We shall not offend other nations when
we declare the right of the American peo-
pie to govern themselves, and, without let |
or hindrance from without, decide upon |
every question presented for their consid-
Grafton. In taking this position we sim
ply maintain the dignity of 10000, 900 |
citizens who are second to none in their
capacity for self government.
The gold standard has compelled the |
American people to pay an ever increasing
| tribute to the creditor nations Of the world,
| tribute which no one dares to defend. |
l assert that national honor requires the
United States to secure justice for all its
| citizens as well as do justice to all its cred
tors. For people like ours, blessed with
natural resources Of surprising richness
to proclaim themselves impotent to frame
a financial system suited to their own
needs Is humiliating beyond the power Of
language to describe We cannot enforce
respect for our foreign policy So long as
~ c-.cfass ourselves unable toArame our
own financial policy.
Honest differences of opinion have al
ways existed and ever will exist as to the
legislation best calculated to promote the
public veal, but when it is seriously as
serted that this nation must bow to the
dictation Of other nations and accept.the
policies which they insist upon the right
Of self government is assailed,, and until
that question Is settled all other questions
are insignificant.