The Portland daily press., 1896-10-23

WouiQ accomplish either of these f0SulGs
requires n faith In fatism which WoulC
IL would accomplish both, exhibits q
degree OF incredulity unparalleled in the
annals OF human affairs"
Taking up in detail each OF these three
propositions Mr.. Carlisle went on TO show
| how the law Of supply and demand and
| the recorded experience Of the world for
90 least SIX centuries. refuted each OF
them. The natural law on the subject
which we coulI neither repeal nor alter
seemed to be that when the production
OF coinage OF either gold or silver into
legal tender money were increased In
proportion to the production and coinage
OF bhu other metal the relative value Of
the coins thus disproportionately added
TO the circulation decreased and the rule
was the same whether the increase
consisted OF gold coins or silver coins.
Ii, he continued we want to inorease
the prices of food and clothing and the
other neccessaries of life wirhout incrsas-
Ing the demand for them or diminishing
Une supply, we must put on more taxes
and erect more barriers batWeen the
producer and consumer, and we must
turn back the advancing tide of scientific
and industrial progress.
Turu1ng to other parts of the platform,
Mr.. Carlisle said that the free coinage
OF silver was not the only issue aud
might In the end prove to be not even
the most important one.
I'm view Of the facts that 1t was also
proposed to have the government pur-
chase and operate all the railroads and
and telegraph lines and isaue paper TO
pay for them that it was to coin at the
public expense all she silver In the world
that it was to inaugurate and maintain
system OF public works, whether needed
or not, sufficient to give constant cm-
ployment to all iaborers who were not
otherwise occupied and that it was to
establish postal savings banks in every
part OF the country to revive idle money
on deposit and pay interest on t,whether
it could use the money or not. he thought
IL not e1travagant to say that the people
were threatened with a social aud
political revolution of the gravest char
aOteF, revolution which, it successful
would subyert the fundamental princi.
pies upon which the government was
founded, tax the private industries of
the people out of existence and convert
our system into socialistic despotism.
When to this extrayagant and demor-
al1ztng scheme was added that other
revolutionary feature of the Chicago
platform, the substantial avoWnl of
purpose to make tina judiciary party of
the political machine by rs-construoting
uuS hupToue COorG IN OfG6r TO dictate
its judgments upon questions of con-
stitutional law. q plan of ope1 ations was
proposed more dangerous to our institu-
tions than was ever suggested by any
party of the pasu
There are many who believe, or
pr ofsss to believe, that the importation
OF gold are due to some artificial cause
some arrangement. com bination Of
agreement upon the part of an imaginary
money power to accomplish certain
political results, and that they will cease
after the election. I can assure your
suspicious friends that there is nothing
artificial In this movement of gold, and
that 1t vii; cease whenever the equili-
brium is substantially restored, whether
that be before or after the election, 1t
will certainly cease after the election
whether the equilibrium is restored or
not, of the people Of the United States by
their votes inaugurate the policy of free
coinage at the ratio of l6 to /. Our
treasury reserve will be Immediately
exhausted, the gold held by the people
and financial institutions will cease to
be used as money, the circulation will
be suddenly ard enormously contra oted
not only by the withdrawal of gold, but
ON account Of the inevitable panic which
will prevail in every part of the CO untry
and we shall enter at once upon long
period Of suffering and distress unpara
allied in our history"