The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1896-10-02
SEVEN MONTHS LATER AT WOODBURY.

He Repudiates His Own Words and Tramples
Truth in the Dust
R. oD g maintain and protect the co coin redemp
| In addressing the Senate Mr.. Mitchell sail:
Mr. PRESIDENT The alternative presented for the consd
GRAFTON and vote of the Senate by the pending bill this
Shall we determine the vote required by the bill it
from the House, that further issue of the bonded indebted
OF this s under existing conditions and cir
cumstances and to authorize such ISSUE sha
proposed by the committees deny such necessity and
fuse to authorize further issue of bonds instead thereof
legae utilize silver thus restoring to the place
METALS and thus rehabtate IT, commanded by the Const
tuition with all the egaender functions of primary money
standard in this country and in order to do authorize
unlimited amount of interest bearing bonds to be sold for gold
we favor bmetasm or the double standard sha we
the language OF the last national republican PLATFORM declare
bmealsm and that the words Of that platform, I'VE
mand the both gold and silver standard money! and
For one deny the necessity for further bond issues deny
the necessity for further increase of the esbearng
s h he % bs s
perpeuaon Of the single gold standard protest that the
continued and persistent effort to destroy bmeasm In this
TO sum measured by gold alone is not only fatal
stab at the best material interests OF all people, and
xcep the few who control the gold of this country but
moreover and oppressive their
constitutional liberties
Believing this SHALL without hesitation but with great
pleasure vote in favor of the committee amendment and against
the bill as it came from the House.
THE CAUSES FOREIGN
Let those who proclaim loudest against bmeasm and in
of the single gold standard and opposition the restora
ion Of silver to it's constitutional place Of the
metal OF the country contract for moment the consideration
Of country and its and people in few import
ant respects for period Of say quarter of century prior to
187 when silver demoneized aud that for the twenty
Eve years since compare for instance the amount Of foreign
indebtedness from 1845 to 1873 with that from 1873 to 1885,
First glance at the state OF trade it's balances from 1845
$780, fifteen years prior to the breaking out Of the Of
the rebellion when we had single gold standard and when
present ratio Of l6 During these fifteen years the net
balance of foreign trade in favor $33 Thus
far from creating any foreign interest bearing debt during
this PERIOD the result was balance in our favor OF $342
0O9.
Furthermore will be borne in mind that for these fifteen
average bat $2 l222O At the of
the war; therefore, foreign Indebtedness baga
S6-l862 the value Of imports in of the
ports reached the of $73229547, aver
annual for these nine of $8l During
this period exported gold and silver than i'm
ported to the aggregate amount of 99 678760 average
annual excess OF gold and silver OF 1876 So the bal
against for these nine years. covering the period of the
and four years after it's Close growing along out Of
imports and exports Of merchandise god and silver
292 8 annual average during this period of
$S2 5O4 532 But Notwithstanding this increase in
foreign indebtedness during the nine years ending December
81 1885, and the great bulk of which be properly arbut
I'd to the fact that country involved in terrible and
prolonged internecine war; nothing compared with
the in the twenty-five years since that date during
twenty three years of which time silver has been demoneze
real bmetasm sanged and destroyed and our
engaged in and embarrassngy strained effort
maintain and pepeuate the single gold standard While our
foreign Indebtedness virtually nothing at the beginning Of
the in $780, while January 1870 ii according to
recognized national stascians, $6 O0000O it is today
after nearly quarter century of the single gold standard
estimated by the atscans at all the way from four
Eve times the latter amount from 5 600 to 81 000
600 0 in foreign indebtedness since 187O
000 The first named amount conservative estimate
in all probability not very far wrong
How is it that this va OF debt has within the past wen
years been placed mortgage in favor foreign
tos nearly all OF whom are czene Of Great Britain the
labor the efforts the resources the homes-yes might add
the liberties-of the American people?
what manner for what by operation
what occult or other description OF means have the life
blood and liberties of the American people been thus
interest Of foreign masters by this aggregation Of
dvidua foreign indebtedness? That is the result wholly Of
any sensible will for a contend
is the all the cooperation all vi
readily concede but that Of all which contribute
lees cause, nay all other taken to-
gether potential factor in this fearful work of rvs
log upon the neck of the American people foreign chains Of
industrial commercial and monetary slavery the single
OF the efforts destroy bimetaism and susan uphold
and pepeuae in the interest Of Great Britain the sng gold
standard
THE FEARFUL EFFECTS OF BOND ISSUING POLICY
But another among the many evils which attach to policy
Of borrowing millions every few month and issuing interest
bearing bonds order maintain the single gold standard
and the one to which attract attention.
with especial hardship when the gold obtained from
people, 10 its effect in the contraction Of circulating
dum The contraction Of our circulating medium Of the
try can not but depress prices only commodities but Of
labor WE'LL thus creating stringency in the markets. les
senng me aD q sns Danks . tne
in existence thus baFasng oppressng and running debtors
In country where the total gold circulation perhaps lees
than $780, what must be the effect of the sudden abs0p
ton OF 500 900 Of that amount? And is while thus
connecting the circulating medium Of the country to this
same time upon reserve
country constantly rendering the supply less capable OF