The Portland daily press., 1896-09-07

ing. and it was that the party's policy
had not been a success.
suppose that every Democratic
friend | met three months ago-and
strange as 1t may seem to you l have
good many of them (applause) said:
AS matter of course you Republicans
will carry the country this time The
wish In great many cases was the faith
er of the thought. That was the con-
dl6ion OF things until the Ohlcago con-
Vention. That convention was taken
possession of by the least respectable ele-
ment of tho Democratic party. don t
believe the party of jefferson and Jack
son and Cleveland was party of dis
order, or was against a reasonable raising
of revenue to pay the expenses OF the
government. Those Democrats l know
were as honest In their intention toward
the government as l hope l am. This
element l have mentioned took possession
of that convention and they declared
among other things for the free coinage
of silver. / say to you this silver promo
sition is the least harmful Of. them all.
1t is SO thin, SO cheap, so vanishing,
that it will cause no trouble. L hear
great deal about danger from the people
back in the ignorant West. For my
part never met anything bnt inteli
gence in the west and some of 1t sharp
enough to beat our eastern people,"
Mr.. Rect went to a consideration of
tho essential elements of success in a ma
tion, and spoke with great vigor of the
supreme court plank in the Chicago plat
form.
peace is essential" said he. "We
don't want our people killed in the
streets.
WE DON'T WANT MODS
and riots. We do want the supreme
court to hold the power that belongs to
it under the constitution of the United
States. (Applause) Why9 Any other
course would mean warl The constitu-
tion created this court with power never
given any other tribunal on earth, the
power of passing upon the political acts
of the government. We have been taught
to respect the decision of the supreme
court, and it has. been an advantage to
be SO taught.
''There is but one course for as as "a
people if we do not like the decisions OF
that court and consider them unconstitu-
tional, and that it to do as we did with
the slavery question, change the consti-
Triton of the United States! lGreat ap-
plsuse.) The Chicago platform de-
nounoed the supreme court Tor It's de-
oision in the matter of the income tax.
AS have said before l have proper
envy of the rich, perhaps it Is natural IN
us who are on foot. and having no SYM
pathy with them daughter can proceed
to approach the.question of prosp6 rlty ols-
passionately. The proposition Of the SUI
preme court was that incomes could not
DO taxed by the United States. On what
grounds? It is as simple as can be. In
come is the thing ITSELF Suppose you
have grist mill-it may be as pretty as
peach, as lovely as the memory of a
A. Av,1r f.r~ hot
brings. 1t is the same with this track
with yonder farm house and the orchard
beyond il. The essence of it all is in
come and you take the whole thing when
you take thu income. The constitution
says direct taxes shall be apportioned
according to population. The states RS
fused to come together on any other ba-
sis. Massachusetts, New York and Vir-
ginia made this the point. Tho govern
! nent has free hand in levying excise
and tariff taxes but when it comes to
direct tax it should be in proportion with
the number of individuals. Every state
| is affected alike by tariff and excise laws.
| This could not be so with an income
tax. By what reason could the people OF
Arkansas tax the property of the people
of Maine? We in state can tax each
other proportionately because we have
common interests and know each other.
We are therefore not carried away by pre-
JUDGE, but whas do you and know of
the valne Of property in Arkansas?"
Mr.. Reed said the Democratic party
had been in the past q party for. states
rights, but that the Republicans were
now called on to defend states rights in
| the principle that taxes on property
! should be levied by the states while the
revenues of the government were levied
on what the country consumed.
| Mr.. Reel continued:
"There must always be fight between
progress and conservatism, and progress
give to every new thing standing, and
the reason why
THIS SILVER QUESTION
WON'T have any standing at all is be-
cause conservative men cannot approve
of it. We notice in this state the kind
of men who have been sent here to tell
you all about 1t. The poorest fellow on
earth, il his reasoning is sound, should
| be listened to. His argument is worth
all it is worth, his opinion worth all he
is worth and no more. 1t makes differ
ence whether he ts the parson of a meet
| ing house or ornaments the gutter.
1.-The silver men say that the deInonet-
| ization Of silver was accomplished
stealthily. AS l ramem Der 1t there were
Ia4 lOun, roaring Columns III bne OOu-
| gressional Globe to show to the contrary.
They say the act was smuggeld through.
What do you call smuggling? 1t was
under discussion three years.
| "Do they argue that depression is due
to demonetization? We've had this be-
| fore, in Great Britain in 1893, and again
in 1926 in the United States in 1887,
and in 1873. We've had them all. Was
there any decentralization of silver in
England in 1903, or in 1925, or In this
country in 1887 and 1898; Nobody pre-
tends that demonstration of anything
cause these panics. What WAS common
to them nil? I'll tell you-it was our
poor human nature. There was never
any thing else found in any panic that
ever was.
cit is story of plenty of business,
more business, still more business,
speculation, little more speculation,
wild speculation then sounding Of
tho bell, an examination of books, give
an account of yourself, and then collapse.
| When the crash comes we've got to wait
and sea who fails. Sound business men
don't fail. Some men can see panics
coming. One such WAS Wilson G. Hunt,
now dead, who prepared for hard times
by laying aside $50 million of gold.