Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1896-09-10
Ex-MIi<lsTER PHELPS

of the PopulIsts-The Free Silver Aeita-
| ton Is n Menace to the business Life OF
! the Ention--A Disturbed Currency fakes
| Prosperity Impossible.
Hon. Edward j. Phelps, ex-minister
to England, has written the following
letter, in which he urges all true Demo.
Gratis to join in defeating the candidates
| who stand on the un-Democratic plat
form adopted at Chicago:
/ regard the pending presidential cleo
ton as presenting the most dangerous
crisis that this country has ever encoun-
tered. 1t does not, i'll my judgment, in
volve any political controversy nor any
question Of the supremacy Of party, for
such considerations are lost sight of in
the far greater gravity of the situation.
The real issue is one upon which all
patriotic men and all who are interested
in the prosperity and welfare Of the
country should find themselves upon
one side and opposed to a common en-
envy. Tho attack that we have to resist
is not upon the policy but upon the life
of the nation, for they would take its
life who destroy the means by which it
livos-thc business of many thousands
and the industry Of millions. On these
we are all, whether rich or poor, high
or low, alike dependent. Those who are
independently rich are very few in pro-
portion to tho 70, 600, 600 of American
people, the vast majority Of whom gain
their living by some form or other of
useful employment. That there should
be prosperity in some Of these employ
ments and not III others, or among one
class of people and not among others, is
impossible, for they all rest upon u
common foundation and are affected by
the same considerations Business" is
generic term and comprehcnds all
lawful industries When it is stimulat.
ed, all profit when it is depressed, all
suffer No part of the body can escape
the effect Of Il general paralysis or fail
to get the benefit Of general good
laborcr is III demand; when it declines,
he stands idle i'll the market place.
Business of whatever sort i'll u cOun-
try like ours, rich i'll resources, full of
energy and vitality, with all harvests
everywhere ready for the sickle, rests
chiefly upon two factors-pubhc conf
dencc and u sound and stable currency.
Whom either iS-and much more when
both are-impaircd or even gravely
threatened business suffers, general de-
preston comes labor declines, and the
wolf approaches many door. Without
confidence there can be no credit, no
enterprise. Capital is boarded, sent
abroad or lies idle, and all industries
diminish or cease, and the surost way
the world has ever seen to destroy conf
dencc is to dcbaso the currency and to
make it unotvtain from day to day how
much Il dollar is worth and how much
it is going to count for III tho near flu
turc-to take away, as IS now proposed,
ono-half its value to begin with and to
set the other half to tluctuating to an
indefinite extent, with the rising and
the setting Of the sun and the approach
of every storm.
There is, therefore, in my Judgment,
no man moro criminal or who is verso
public enemy than he who engages i'll
or countenances that infamous and de-
structive attempt, because tho less u
man has, or the less he earns, the more
necessary it is to him that the value of
that little should be maintained and
made sure, and that the few dollars in
his pocket should be rs good dollars as
there are. AS well might the steerage
passengers i'll vessel i'll midoccan,
weary Of their privations, be incitcd by
some mischief maker to scuttle the ship
i'll order to drown the inmates of the
moro luxurious cabins, unconscious that
they themselves must be equally the VIC
tins Of the common calamity.
The party is already hopelessly dis
ruptcd on the issue presented. We can
not follow both it's divisions mt the same
time, however desirable it might be,
since they arc moving in opposite direc-
tions. On the ono side arc the old time
honorcd principles of the party, under
which all its great traditions have been
generated, and which all its illustrious
leaders have advocated Chief and fore
most among these principles always III
times past has been tho maintenance Of
sound and honest money. of dollars that
are dollars, of u national stamp upon
Thorn that does not lie.
On the same side are its most trusted
present statesmen and leaders and u
very large proportion ut the least of its
better and most instructed element.
Which way shall we go, then, since we
cannot go both ways? With its states
meN or with its camp followers? With
its principles or with its organization
Itarnpedcd and graded by its enemies?
In which direction lies the future of the
party if It is 10 have any future? And
who are they who will control it here
after when this tyranny shall be over
past" lIct no man BE- afraid to hc right
ON this question, for it is the right that
will triumph III the end whether IT re-
forms the party or destroys IT,
What 10 to Has Never Done.