Evening star., 1896-07-08


the British-republican propaganda. Gap
plause) The fact that the European ma
tions are going to the gold standard rem
ders 1t all the more impracticable that we
should do 80, for the limited stock of gold
in the world would have longer division
and a smaller share for each nation. Pre-
vious predictions have been punctually re-
futed when prosperity was prophesied to
come upon the unconditional repeal of the
Sherman law. Instead Of protecting the
treasury reserve as was prophesied it
would do, an unprecedented raid was
promptly made upon it, and two hundred
and sixty-two millions of borrowed gold
have been insufficient to guarantee its Sc
curity.
Instead Of causing foreign capital to
flow to us, it has stimulated the flow of
gold to Europe and greenback notes and
Sherman notes. which are just as much
payable in silver in gold, have been
used to dip the gold out Of the treasury Of
the United States, and to store 1t in strong
boxes of the war lords of Europe. Instead
of reviving business, this policy has further
depressed 1t. Instead of increasing wages,
this policy has further decreased them. In
stead of multiplying opportunities for en-
ployment, this policy has multiplied idlers.
Instead of increasing the prices of our
produce, this policy has lowered them. and
1t IS estimated at about 10 per cent in
three years. Instead of reviving confidence.
the policy has banshed confidence. In
stead Of bringing relief, 1t has brought
years OF misery, ana tn1S reason IL mas
contracted the currency of the United
States Al cents a head for every man, wo-
man and child since November /. 1893, and
with this vast aggregate contraction the
price of land and Of manufactured goods
and of all kinds of agricultural and mer-
camille produce has fallen.
All hut Taxes and Debts Have Fallen.
'The public revenues have fallen. wages
of labor have fallen, and everything on the
face of the earth has fallen but taxes and
debts. which have grown in burden. while
on the other hand, the means of their liqui-
dation has been diminished. In the mean
time. gentlemen, commercial failures have
progressed with devastating effect north,
south, east and west in this nation. The
dividends on bank stocks have shrunken.
Three-fourths of the railway mileage of the
United States is now in the hands of re-
ceivers, and the country has received a
shock from which 1t will take many years
to recover.
Yet, in this distressed and contracted
condition. the new-f1edged monometallists
ask US to declare for a gold standard and
to wait for relief upon some ghostly dream
of an international agreement. But the
pc ople now do well know that the conspira-
cy Of European monarchy, led by Great
Britain. has for its purpose to serve in the
war upon American silver money, and
stands in the way of such agreement. With
their credit they seek to enhance the pur-
chasing power of thousands and millions
which is owed to them all over the world,
and which you owe to them. They draw
upon the United States of America for
their food supplies and raw material, wheat.
corn, oil. cotton, iron. lead and other like
staples. They seek to get it for the leas:
money. Besides this. Great Britain has
large gold mines in South Africa ana South
America and by closing the silver mines
has greatly enhanced their products and
their values. Recent British aggression in
Venezuela and In the settlements of South
he De t0
more of these gold mines. and. by monopo-
liZing the metal far as possible, to as
sert British commercial supremacy over
the world.
NO nation calls itself free and in
dependent that is not great enough to es-
tablish and maintain a financial system Of
its own (Great applausa.l To pretend that
TINS foremost and richest and most power
full nation in the world cannot coin its own
money without suing for an information
agreement at the courts of European auto
Gratis who have none but primary interests
to SubServe. have for many years been held
out at every presidential election. They
have made use Of such an agreement and
have foiled it afterward. and we have nev-
er In our history had an international
agreement upon Il money system and none
OF the founders of this republic ever
dreamed that such agreement was es-
:ent.al. We have had three international
conferences in order to obtain it. and to
wait longer upon them is to ignore the in
ts rests of our own people. degrade our ma
ttonal dignity, and to advertise to all man
KIND our impotence and our folly
The concession that comes from the gold
standard men of all Europe for the restora-
ton of the double standard is the only So
luton of the financial difficulties that We
can lind in the outlook before us. The dec
laration of the English premier and the
French minister ara the Russian govern
nient, which have recently been expressed
shows that If it succeeds at all, it will sue
cced against the sinister power of au-
Jrh l,n..,
An international agreement for the rest ora :
ticn OF the metals to an equality would be
bond Of mankind which would enable us
to regulate the value of money and bring
the Two metals upon parity.
The Act of 1892.
Alexander Hamilton. the great Secretary
of the Treasury under Washington under
stood this question. He framed the first
financial act of this country, which was
passed in 1892, fixing the unity of our cur
rency upon both metals for double rea
son. first, that to exclude ore would reduce
1t to a mere merchandise and the other
that would involve the difference
between scanty and a full curcu-
lation. Thomas Jefferson knew this when
he indorsed the work of Hamilton and
George Washington knew this wh.n he an
proved it. Daniel Webster knew this when
he declared that silver and gold are the
legal standards and that neither Congress
itpI any Stdte lids any GISnl TO establish
any other standard to displace this one
Gen. Grant knew this when he looked to
silver as resource Of payment, and found
to his astonishnent that a republican Con-
eress had demonetiZed It, and that he him
self, as President, had unwittingly signed
the bill. The whole United States now
know this. and they know also that they
who would be free themselves must strike
the blow (Cheers.)
The majority of this convention I have
the honor here to represent it, maintain
that this great American nation with a
natural base of fixed empire, the greatest
ever established by man, with more terri
tory and more productive energy than
Great Britain, France and Germany com
bined, without dependence upon European
ia lions for anything that they produce,
and with European nations dependent upon
much that we produce, is fully capable of
restoring this constitutional money system
of gold and silver at equality with each
other. Applause) And as our fathers in
1176 declared our national Independence of
all the world, so today has the great demo-
cratic party, founded by Thomas Jefferson,
the author of that declaration, appeared
here in Chicago to declare the financial in
dependence of the United States of all 9TH
er nations. and to invoke all true Ameri-
cans to assert 1t by their suffrag ge at the
polls, that our country may be placed
where she by right belongs. as the freest,
as the foremost, as the most prosperous
and happy nation that ever blessed the life