The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1896-09-04


taxesl
reduce
mented by our internal tax, to main
tain the government. There has been nm
annual dehcit approaching $50,O00,OOO every
year; and the national treasury has been
continually In state Of embarrassment,
Our manufacturers, left without adequate
protection, have been successfully and grad
nally closing up and putting out their fres.
But not only, has this produced such an
cffect, but It has practically contributed to
the financial depression that we IRE in. Tho
maintenance OF the gold reserve up to $780,
100000 by the government for the redemp-
tion OF our notes was essential to confidence
IN the stability of our finances When the
government reserve runs down people begin
at once to say: 1--WE may come to the
silver basis; gold is going out; the reserve
is going down, and this fear Is greatly In
creased. But how can you keep gold re-
serve OF $1O0, OO0. 600 when you have not got
$1OOOOO,OOO In the treasury, all told? How
can you maintain this gold reserve for the
redemption Of notes when you have an an.
nudl deficit In your income not equaling
tariff bill has not only contributed by In
creasing Importation. by taking away the
need OF support for our own manufacturer,
but 1t has contributed in the way Of In.
creasing the silver scare to bring ns kito
the present condition of distrust and dis
may which now prevails. (Applause.) The
bond sales which have been made necessary
by reason of the deacit-bccause I think
every one will agree that as a financial
problem 1t is one thing when you have $780,
100000 In the treasury to keep one dollar
In three In gold and quite another when
all told. (Applause) But did not intend
to follow this question further. am quite
as much. however, opposed to cheapening
the American WOrkingmen and women as 1
AN to cheapening our dollars. (Applause.)
am quite as strongly in favor Of keeping
(Applause.) II 1t could be known tonight
that the soldier, that typical young Amer
lean. that distinguished and useful states-
man,
William Mckinley Of Ohio.
applause and cheers would certainly be
elected president, how the bears would
take to cover on the stock exchange to-
morrow. My, friends. as a Republican
am proud of many things, but I can sum
up as the highest satisfaction have had in
the party and Its career that the prospect Of
Republican success never did disturb bust
ness. (App!ause). In connection with this
financial matter. do we all realize how Inn
portant the choice Of president is? Do
you know that as the law is now, without
the passage of any free coinage of silver
law at all. 1t is in the power Of the pres-
dent of the United States to bring the bIsi.
ness of this country to II silver basis? All
he has to do is to let the gold reserve
so, to pay out silver when men ask for
gold, and we are there already. It Is only
because Of the presidents Of the United
States that we have had and the one we
have now regarded it under the law as his
public duty to maintain the gold basis,
maintaining that parity between our silver
and gold coins which the law declares Is
the policy of the government, and because
he has had the courage to execute the
poWers given to him by the resumption
act to carry out that declaration of public
law. undertake, therefore, to say that If
Mr.. Bryan or man holding his view
were In the presidential chair without any
legislation by congress, we should be on a
silver basis In weeks time. (Applause)
Three or four years ago when was in
Kew York some one Of these reporters who
sometimes hear things that are not intended
for them got hold of u remark Of mine
about the wild horses that Mr. Cleveland
han to handle, aud I simply meant by that,
what has since been demonstrated, that
he did not have compact or solified party
beyond him; that the Democratic party In
congress represented a share of every ism
that has ever been propounded in the coun-
try. and that he could not manage 1t. My
2rophesy has become a verify. They have
left him. They abandoned him. and now
As that caution was meant TO indicate that
we needed to look after our congress
as we'll as our president, this caution is
intended to show you at this time that we
need to look after our president Il we
would avoid the calamity of having this
country put upon the Mexican basis Of
money.
The silver Fallacy. d
The silver question-what is 1t: Do we
hoo
q larger circulation? have not heard any
body say so. Mr.. Bryan is not urging it
on that basis. II amy one was to seek to
give that ms reason for wanting free
silver he would be very soon confronted
with the statement that free silver would
put more gold out Of circulation than
the mints of the United States could pos
sibly put in In years Of silver coinage, and
that instead Of having more money we
would have less (Applause.) With our six
hundred and odd millions Of gold driven out
OF circulation We would reduce the per
capita money Of this country by between
So and 50. So 1t is not for more money.
We have an abundant supply of circulating
mediunl-gOlG, silver, national bank paper,
greenbacks, treasury notes. fractional silver.
We have something like 500 per capita Of
our population. What is 1T, then. that Gre
ates this demand for silver? 1t Is openly
avowed. 1t Is not more dollars, but cheaper
dollars that are wanted. 1t is a lower
standard Of value that they are demanding.
They say gold has gone up until 1t has
ceased to be proper standard Of value
and they want silver. But how do they
Now, friends. there Is grent deal Of
talk Of blmetallism, of the double standard.
and great deal Of confusion In the use of
those terms. Bimetallism, Is the use OF the
two metals as money where they are both
used. BY double standard they neon that
n gold nj and n al dO10 Shn1 ENo