The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-10-29

mutiated and disfgured by the names of
new electoral candidates pledged to cast
| their votes for wild and reckless popu-
list for vice president of the United
States, and who, if elected, might become
president and be vested with all the
power of that great Office. This is not
democratic electoral ticket. 1t repre-
SCENTS two political parties and two
political platforms, no one of which is
democratic according to any historical
test that can be applied to them. On the
one great question which is engrossing
! the attention of the people and to
which the presidential candidate is now
seeking to subordinate all others-the
free coinage of silver, at the ratio of Is
to these platforms are directly in con-
fllct with the declarations made upon the
subject by all prior national democratic
conventions held in this country. The
act dropping. the standard silver dollar
| from the coinage and making gold dol
lars the sole legal standard of value was
passed February 16, 1873, and the first
national democratic convention after that
date met in st. Louis in 1876. and the
very first declaration in its platform was {:
Reform is necessary to establish Il
sound currency. restore the public credit
and maintain the national honor
| Upon that platform Samuel j. Tilden
secured the largest democratic vote ever
cast up to that date. and was, as we be-
lleve. legally elected president of the
| United States. In 1880 the party de-
clared for home rule. honest money, con-
sistng of gold. silver and paper con-
vertible into coin on demand; the strict
maintenance of the public faith, state and
national. and a tariff for revenue only
This is a concise and accurate descrip-
ton of the currency system since 1879
gold and silver and paper convertible
into gold and silver on demand. Sub
stantially the same declaration was made
on the currency iii 1884. The language
was:
1--WE believe in honest money. the
gold ana silver coinage of the consttu-
ton, and circulating medium con-
vertible into such money without loss
| IN view OF the record of the party.
insist that the proposition to revolu-
tionize our monetary system by legisla-
tion authorizing the free and unlimited
coinage of legal tender silver at the ratio
of IL to l, when the true commercial
ratio is about 81 to l. must be consid-
cred and decided entirely on its own
merits, without any support from the as
sumption that it is of democratic origin
or that it is consistent with any demo-
| cratic financial policy ever heretofore
authOritatively announced: but, if such a
policy is right. if it is not incompatible
with the honest paper of public and pri-
vate obligations and would be beneficial
| to the country, the fact that it originated
! with our political opponents. and its wide
departure from our party declarations on
| the subject. ought not to prevent its
| favorable consideration.
me question is not whether the
United States alone have the power to
adopt free coinage and silver mono
| metallsm. but whether. in view of our
domestic conditions and interests. and of
our extensive commercial and financial
relations with the other great civilized
nations OF the world. it would be good
policy and good faith to make such n
radical change in our currency and such
| a Wholesale reputation of our obliga-
tions. 1T is not question of power it
| is not a question of national indepen-
dence, but 1t is Il question of national
prosperity and national honor. On one
point only do we question the power of
the United States in respect to this sub
lect; we deny absolutely that any legis-
latlve or executive, act of this govern
ment, or of any other government. how
ever great and powerful. can make 30
cents in silver equal in value to 100 cents
in gold.'
MIR. Carlisle then made an exhaustive
argument against the free coinage of
silver in which he contendcd that it was
dangerous doctrine. which, if it became
a law. would result disastrously to all
business and occupations. and to none
would ITS effect prove more harmful
than to the farmer and the wage Garner.
Continuing, he said "If the American
people would declare by an ovcrwhcm-
ing majority of their votes that our
present standard 'of value is to be pcr-
mancntly maintained. that no contracts
are to be Violated no obligations repudi-
ated in whole or in part and that the
public peace is TO he constantly main
tanned, public ana private property
Scrupulously protected and the public ar-
thority promptly vindicated whenever
step will he taken towards the restora-
ton of prosperity in every part of the
country
The next step is 10 take the govern
ment of the United States entirely out
of the banking business by retiring and
cancelling every one of the notes issued
by it, thus stopping the demand on
the treasury for their redemption in gold
or silver and placing the burden of fur
nishlng gold when gold is demanded for
redemption of notes. upon the banks. |
where it properly belongs and where it |
always rested until the government most |
unwisely inaugurated the policy of iSsu- |
ing its own obligations to circulate as |
money. Retire the old United States |
notes and the treasury notes of 1890 and |
gold will flow into this country from all |
parts of the world to take their places |
in their circulation and our currency |
system will be firmly established upon
Il substantial basis
Until | have lost all confidence in the
and patriotism of the Amer
lean people. | can not believe they will
deliberately incur the penalty of indus
trial and commercial ruin merely for the
purpose of making financial experiment
which is opposed to all dictates of sound
reason and condemned by the experience
of all mankind"
A SHIP WRECKED.
Sidney. y. S. w.. Oct 22.-Thc mis-
sionary ship Day Spring has been
wrecked on n rock north of New Calce-
donia island The captain and seven
men escaped in boat. but the remain
der. nine persons. who We're on board,
are supposed to have persisted.
TO FIN FREIGHT RATES.
Chicago. Oct. 22.-The western roads
have completed the organization of a
successor to the old Western Freight as
ISOLATION on the lines of the Southern
Traffic association. the governing power
being placed in two boards
Chairman Midgely of the old Western
Freight association will probably be com
missioner. Rates will be advanced on
.,.4., ,,n1 ft..,,