The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1896-07-17
REPUBLICAN RALLY.
Continued from list page.

r his assets is practically bankrupt COVER
/ ment that issues currency peyond i5s lower
. redemption Is equally bankrupt besiues' a,
excess of currency Is OF no earthly use. W
, simply want what Is sufficient iOr the spceu
transaction Of business. NO nation on eur!
ever had u financial crisis because OF inc strli
gency of money when 1t had In circulation q
amount exceeding - dollars per capita.
stances If financial disturbances arising unde
those conditions have their sole origin IN IN
want of confidence. Confidence is the bases Z
business and when confidence exists, 800 wi
transact n large amount OF business. depos
400 In the bank, send my check :? Boston; ina
Is deposited In the bank there anu inc party re
ceiying 1t sends check n payment 70 some on
In Burlington who deposits that check and send
q Ike one to someone IN New York, and SO
may 60 from hand 10 hand until thousands
the bases of the original deposit OF sl0o Whei
there comes q time that the business men OF tn
country lose their confidence In the government!
In Its currency, n It's business, they lose com
ing The check for 800 goes Immediately TO th'
bank gets his cuI rency and puts into his pocket
When wave Of financial distrust runs over
the country q panic will result regardless OF th'
amount OF money in circulation per capita.
We are told that gold and silver Is the money
of the constitution. Grant II. That Is what We
have and we intend 70 keeplt, ana Keep Us ''"ei
| We are told that the hard times ana financial
distress that have visited this country ana inc
business world during the last tour years are
q
| many nations shifting from bimetaiism-the cif
| culation Of two coins TO that OF monometalisn
n single gold standard. That this change from
| "a double currency to that OF single gold stand
ard has wrought great reduction in values.
What caused the financial depression, panic
and tremendous decrease In values In 1878, also
IN 1870 and IN iss,r Ing silver silver p rT;cnc' hao
When government pays out FOR expenses
more than Its income IL is on the road to bank.
ruptcy just like an individual The tarih must
l...t ~ tn. nnN
he making instead of losing money. when the
government loses money and the people per-
ceiye. or believe that there are inefficient men
at the helm, a want OF confluence springs up all
over the land and every breeze seems TO fan
It's whitening effects upon the hill tops and In
the valleys. II is In the air. The failure, bank
ruptcy and ruin OF some or the best enterprises
In the world follow. Silver has nothing TO do
with 1t.
We are told that large proportion of the In
debtedness, municipal and individual, that eN
lists IN this country was incurred Mt q time when
values were far above the present market; that
should the debtor be called upon now to pay his
obligations IL would require double the amount
of his property to do so that II did when the
loan was created, therefore he Is really paying
In values two dollars Tor one, that there should
be some legislation which will fairly adjust the
rights OF the debt5r
I want 10 ask my friends how free silver is
going TO do 1t. VINO does Il help except the
man who has the bullion, How are the people
to get IL Today silver bullion Is worth l3oth
vail. ls ounces will be worth one ounce OF gold.
Who Is helped. Only the man that owns the
bullion. Who owns the bullion, Is II the la
borer, the farmer, the business man, or Is II the
specuator and the 6nancierf There Is not u
farmer or a laborer In the State OF Vermont In
my Judgment, that owns an ounce of II, but
west of the Mississippi and south OF the Poto
mac there are hundreds OF these poor devils
that are being terribly deluded by this idea. II
H. simply the schemng work OF sharp speeula
tors In silver bullion and silver mine owners.
/. you wait to increase the prices OF the farm
and stock and the products OF the farm and
stock, get back 10 u protective tariff that the
government may be self sustaining, that our
home markets may be preserved. tha; our si.cn,
" heels may be set IN motion and our siDokeless
warmed by the furnace lire.
Then we shall have thrift, employment. capt
tai In circulation, markets buoyant property
valuable, until, AZ ieast, the supply exceeds the
demand.
In 1876 the value of silver had fallen from
20 an ounce to sll5 an ounce, 10 that silver
dollar was worth $ cents. Then there arose a
Try from those interested In silver mines that |
he act OF ISIS WIS crime upon silver, and |
hough printed II times and discussed for three |
sears, and every section aud every sentence /
md every word carefully weighed, considered |
md debated, IL Is claimed that 1t was passed |
Without full consideration anu without the PEG I
,le's comprehension. This agitation was con /
inued until ISIS when the Bland Allison act |
vas passed, which compelled the government |
% purchase and coin at least two million dollars |
a orth OF silver per month. Those In favor OF /
his transaction were Just as sangune that 1t
would result in reinstatlng the value of silver in
he markets of the world TO Si.?a an ounce SO
hat a silver dollar would represent In the mar
let silver enough 10 bring one hundred cents
worth In any commodity, rs the free silver men
IRE today that free coinage will result and a
larity of all our money.
Under the Stimulus of these enormous pur.
bases coming upon an unprepared market the
alue Of silver dollar rose from - TO IS cents,
nut natures newly discovered abundance and
he new arts of man began presently 10 get 10
heir fruitful work and In one years time IL had
allen below the point that II held before the
assage Of the Bland Allison act, so that in 1856
be price had dropped TO - cents, In 1883 TO -
enis.
Great alarm attended this steady decline ia
nc value OF this metal and all clear and un-
reiudicef thinkers SAW clearly the coming end
Thich WAS sure 10 he the transfer of gold
asis to that OF constantly depreciating, fuc-
rating silver basis.
The fears of the voters OF the debtor class, |
nd the Establishments OF owners and purchas.
r. of silver in the mine and IN the bullion were .
otent TO make our legis ators In Congress he. | 5
eve, although they had tined IL once and failed I
the Bland Allison act, that they could make a
liver dollar worth Ia grains "a cents worth @
dndred cents by having the government buy a
le silver more freely and stack II away, so In q
go the sherman act was passed and b. II the =
was compelled to purchase $780, =
n ounces of fine silver per month. There was
ii >ilyerite In all the land but what claimed
AT such an enormous purchase would force Y
&c market Of silver back TO the prices OF years
20.
Early in 1881 the prices went up TO 81 cent?,
II IL fell materially during that same year ana
pit dropping until In lss3 the value of the sl. :
n dollar was Is cents. I
After Is years OF trial and enormous pur- a
ases by the government far beyond the
'eds and demands OF the pcop,e so that iI
illions Of the bullion and coined silver are
Ia away IN vaults, the price of silver has =
clined. Its production was over stimulated =
lat unanswerable maxim supply and de =,
and rule prices the world over teaches Us, ~
t alone from theory, but from actual trial,
Al this government cannot alone force the
indard value of silver beyond the markets OF 4,
world regulated by supply and demand. =
The price of silver is too iluctuat'ng aud un. L
Ible TO be long of value as coinage unless that a
lue can be fixed by practically universal adop- q
metal constantly calculating in the market "
D no longer he claimed AS precious or eNcln. -
c as a representative, circulating token of eN. II
inge. We might just us well take iron then u
could help a broader area of country than -
can with silver; leather would be better
u for this and hides can be found every
erc.
This great mass of deprecated silver is main \,
ned at parity with god in the markets of the ="
tied States because the government is Piled. NJ
to receive II on equality and because, also ~
government never tenders IL in discharge -
It's obligations, and has not so far gone be. IT.
nd its power so to do. IL never has com -
led creditor to take silver dollars In liquid. %
On OF any claim against it.. Its local parity Is "
because the government upon de- ~
nd substitutes gold therefor: so that in every
cfcal purpose Its regal tender Is not resorted m
Ii Is thereby kept out OF competition with "'i
4, and IL actually used only rs token coinage. NJ,
'eady we have gone beyond the limit and Va,
re had 10 issue bonds to provide for il. What ~,
! be the result II We double and ltribbie the "a
cunt and keep the tariff as u is. At,
are kept at parity solely because
government, while only bound 10 redeem IN NJ,
D, has, IN fact, redeemedin gold ~
is obvious that the parity existing between
Sc several components OF currency Is simply
artificial and forced one, and wnen the vol
e gets large enough to affect values 1t Is in !