The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-09-18
- b NATIoNAL H0NoR.

silver were oanyaSSlGg the sJagsi mas
again come to the front. In resent
speech at Portland he said:
The democrats hold out two inducements to
us. The first is that if We can lower our cur
rency you and I can pay our debts at less rate,
and the second is that the government can pay
its debts at a less rats. What nation owes, if
its resources are ample and sufficient, makes no
very grave difference. England has risen from
IS, 10000 to 100000 in debt, and people
wanted her bonds, because never, BY her history,
has she refused to pay what she promised she
would pay, and she can borrow money at lower
rate than any other county because of her hon
esty. Nothing stands nation IN stead like the
honorable fuIhllment of every obligation entered
into.
While Mr.. Reed is great stiekler for
what he calls national honor" he ap-
parently foFgets that honor is as essen
tial to the debtor as to the creditor. In
common with gold standard speakers
and exponents he looks at the question
but from one side-the creditor side.
All obligations Of the United States
government, and a majority of in
dividual obligations, are payable in
lawful money-gOld and silver coin of
the United States-the same that was
borrowed. That is the terms of The
contracts and who can go beyond them,
or claim an injustice if the contract is
fulfilled? In seeking to force all
obligations TO be paid in gold the
creditor classes are the dishonest ones,
Jas such a course would double every
debt outstanding.
At the close of the late civil war the
United States owed a debt of $780,
100000. On this has been paid in prin-
cipal s1,7OO,OOO,0OO, and in interest
$685. 100000, making q total of 1885,
100000 and leaving yet to be paid
81, 237OO0,OOO including premiums on
bonds. And yet to pay the balance of
this debt to-day it would take more of
the products of agriculture and indus
try than it would have taken to have
paid the whole at the time of its con-
traction. Is such condition HONESTY
Nearly five billions paid on a debt of
less than three billions and yet the
balance due is worth more at the pres
ent day than the whole debt was at its
maximum!
Mr.. Reed does the democratic party
an injustice in intimating it desires to
to repudiate any portion of the obliga-
tons of nation or individual. It simply
asks that justice shall be done. 1t
simply asks that the debtor be allowed
to settle on the terms of the contract.
That he shall not be forced to pay in a
measure that has grown by legislation,
While asking that the debtor shall not
be robbed it guarantees that no injus-
tice shall be done the creditor, the
pound of flesh shall be paid, but no
more.
In referring to England Mr.. Reed not
only shows up a poor object lesson, but
refutes history as we'll. England's debt,
he says, has grown from EST, 100000 to
&9O0,0O0,000. Under what system of
finance has this vast debt made such an
astonishing increase? Under the gold
standard. Does America wish its debts
so augumentedY It will be if change
is not soon made. But did Mr.. Reed
forget that portion of this debt Eng
land owes, and promised to pay, was
declared by parliament perpetual, that
is, that it would never pay it? Is not
that reputation? True they still pay
the interest on their obligation, but if
parliament had the power to declare
that portion Of its debts would never
mature, has it not the power also to
declare that the interest shall cease?
This is one case at least where England
refused to pay as it agreed.
Mr.. Reed, and all other believers in
the gold standard, are seeking to in
crease the indebtedness Of the United
States so that an Understanding arts
tOcracy shall be established. It is they
who are seeking to make conditions so
aEdous that the debt of the United
States never can be paid believing that
the interest will go on forever.
But who has to pay it? The consum-
eF, and he viii not only pay the obliga-
ton once, but again and again, each
year yielding up more of the fruits of
his toll, until in the end he will fall to
the level of the European peasant, a
tenant in his days of strength, and a
pauper when his hair is gray.
Such is the condition Mr.. Reed would
bring to the American people and in
talking about national honor" he pros
titutes the word and uses it as a syn
onym of legalized robbery of the poor
by the rich.
It does stand a nation in stead to do
as it agrees to do, and that is just what
the democrats and free silverites pro
pose to accomplish. They propose to
remonetize silver and nav ave,v obliOa-