The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1896-08-05
Dermomt @attbman.
WEDNESDAY, AUGUST 5, 1896.
Reeds Opening.

tracts:
"Just now there is a great deal of
froth and foam in the air. How very
suddenly all this rush and stir has set
itself into action. Two months ago no
man of any standing would have risked
his reputation as prophet by limiting
the slightest doubt of republican sue
cess. However far the republican
party might have fallen short of per-
lection, nevertheless all men felt that
it was the best party, just now, to draw
nigh 10 for whatever is to be left to us
of the sound government, commercial
success and business prosperity. On
that we were all agreed.
"Two months have slipped away
hardly time to ripen strawberry, much
less system of finance-and there are
those who tell us that all things have
changed, that these very men who
were being arrayed for decent burial
had burst the cerements of the grave,
and, TRANSPORTED by some new ar
rangement of crowns of thorns and
crosses of gold, were to lead us to q
new happiness, and even repair all the
damage they themselves had wrought.
Now this may be 80, but to me it does
not seem probable.
perhaps some one will say here we
have creative party which has sprung
up in night like mushroom and Gre
ated new system of finance. My
friends, you will find that that mush-
room is not good to eat, and that that
progress will land you in the ditch.
Now all progress avoids all bitches.
I" l am bound to say that the evil
which has come to US by an unwise re-
vision of the tariff has been greatly ag-
gravated by one of its consequences
our loss of revenue. Had there been
no deficit, then S100,000,000 OF Dor
rowed gold would have carried us
through the crisis safe and sound. AS
it was, the constant drain of the deficit,
continually COMPOUNDED with the re-
demption of gold, has so affected the
dence cannot be restored until our
revenues equal our expenses.
Meantime, let us see what is pro-
posed by those gentlemen who, within
the last two months, have discovered
and who proclaim, as they did four
years ago, that they alone hold pros
perity in their grasp.
L hOii lOlhCuf 10 lDC COlDd2C vi ST.
yer at 16 to |. What does that mean /?
Heretofore, whenever gold and sill
yer have stood together it has been at
the market value. When we tried to
make gold and silver circulate together
we have always married according to
their market value. To-day we find
them, not 16 to l, but 81 to l, and we
are going, they say, to lift silver to twice
ito ua11o- NJ by, ha al &c
mankind, which alone makes values,
but by the statute of the United States
single-handed, against the civilized
world.
why should the United States try
to do this alone?
eff the decentralization of silver is q
disease at all it is world disease. If
it is world disease, how can it be
reached except by world remedy?
international bimetalism l can under
stand, but this driving out of gold and
substitution of silver is only silver
monometalism for the United States.
Ii, then, we are going to have a
dollar inferior to what we have to-day,
what will be the effect of it? Higher
prices, they say. Not for everything.
If you have hundred dollars in the
savings bank to-day you can get one
hundred gold dollars from the bank.
If this wild project succeeds, and you
are paid in silver, you will get the 500,
but they will be fifty or sixty or sew
enty-cent dollars. If you have pen
sion, that must be scaled down. If
you have bond, that goes down, too.
Will the wage-earner be any better off?
What you buy will go up. Will your
wages go up, too? There you have ex-
perience TO guide you. Wages during
greenback times measured in gold did
not go up as other things did. They
went up part way, but not all the way
up, and were very slow about that. But
wouldn't business be better for more
money? 1t might be after a terrible
crash with bad currency, and then we
would have to get back again. Brandy
may seem to strengthen, but plain
bread and meat are the surest. What
we want is not more money, but more
capital - money always comes with
capital. We have money now, more
than we can use, lying idle. We have
just exported a lot of it. Money is the
transferrer of capital, as hay-rack and
horses is the transferrer of hay. More
hay-racks will never make more hay,
but more hay will require more hay
racks, and is sure to get them.
"Our capital is great, but the United
States is very much greater. There are
millions of square miles and seventy
five millions Of people and undeveloped
riches without stint. But there is not
capital enough to keep seventy. five
millions OF people at work. When are
we the most prosperous 1t is when
the seventy-6ve millions are all at work,
and when that happens we borrow of
the rest of the world thousands of mil.
lions of dollars.
"Now just as soon as this election is
over and the future position of the
United States is assured, both as to
money and to the employment of our
people, capital is ready to come to us
from abroad and from our own people
and we shall again be prosperous,
God keeps the future for himself
Only his eye can see in the fulness of