The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-08

renuer oHereQ tnoSe VINO nave deserted u.s. II
any Democrat becomes convinced that the
gold standard Is necessary, or becomes de-
render Of trusts, he can leave the party and
Join the bolting Democrats or the Republi-
cans. If any bolting Democrat sees the error
OF his way and is willing to indorse the Chi
cago platform and labor with those who seek
to carry 1t into effect we will welcome such a
Democrat back into the fold.
We are engaged now in just such contest
as that through which Andrew Jackson passed
and we will do well on this occasion to take
encouragement from his devotion to the cause
OF the people. He gained his greatest VIC
tory in his fight against the national bank.
We have the same fight on hand today. The
national bank is seeking to force a retirement
OF the greenbacks, and then monopolize the is
sue OF paper money. The Republicans, dur
ing the campaign just closed, avoided this
suDJect ana refused to declare themselves
either for or against the retirement of the
greenbacks. But when they came to apply
their ideas to legislation, they must disclose
their views.
GOOD OR BAD MONEY.
statement issued by the treasury de-
partment near the close of December showed
an available cash balance,f including gold
reserve OF more than $225, 600, COO. OF this
sum ABOUT out go $5o 00o, GOO was in greenbacks and
about $36 900 in treasury notes. This
money is either good or bad If it is good
1t ought to be in circulation among the peo-
P1e Wes instead @ Of locked up in the vaults at
wv IN the treasury when the money is need
ed among the people is inexcusable The only
way " get tnls money out among the people
First, to have the taxes less than the ex-
pend1tures, in which case the amount of de-
nett being saved to the people in taxes, is
virtually paid to them in the proportion in
which they pay taxes; and
second, to loan 1t out through banks or
other agencies.
We have now surplus of about S125 900 600
ABOVE the reserve. For the fiscal year end
ing June 80, 1895, the expenditures exceeded
the the receipts nearly $43, 600, 600; for the year
0D- OnnO
Republicans attempt to increase the revenue
they must expect either to increase the ex-
Pndltures or the surplus in the treasury. 1
think we are safe in assuming that thew ara
hostile to the greenback not because it is in
ferlor to the bank note, but because the ma
tlonal banks desire to retire the greenback
with bonds and then draw upon the bonds the
interest which the people as a whole now
save on the greenbacks.
While the Republicans have not yet had
an opportunity to write their policies upon
the statute books, they have proceeded far
enough to discover that the mere announce
ment of Republican success does not re-
store prosperity. If the advocates of free
silver had won every bank and business fail
ure would have been attributed to their sue
cess and the gold standard papers would have
been loud in their wailing. But the Repub-
lcan organs, although compelled to chron-
1cle an increasing number of business failures
over the corresponding period of last year,
never connect these failures with Republican
success.
During the month of November, 1885, seven
national banks failed, and in the month of
December eight more closed their doors.
IND upon examination of statistics that De-
cember witnessed the closing of more national
banks than were closed in any other month
since January, 1898, excepting the three
months of the panic of that year.
One bank announced as the cause of its
failure, inability to realize upon assets"
This notice was confession of the argument
during the campaign by the advocates of
free coinage. We have all along insisted that
the gold standard destroying the value
OF assets. With money rising in value and
property falling in value, hard times must
continue. That this is not due to local causes
is evident from the fact that the same COM
pla1nt comes from other nations. The press
dispatches state that the holiday trade in Ger
many was disappointment to the mer-
chants.
The fact that Senator Wolcott, Of Colorado,
mas been sent abroad by the president-elect
as an ambassador most extraordinary to
bring Europe to bimetallism is an evidence
that the gold standard is still concealing its
blessings from the American people. If the
gold standard is the standard OF civilization
why should we risk a return to barbarism by
chasing after international bimetalism? If
Senator Wolcott succeeds in stirring up sill
yer agitation in England he will be accused
of disturbing business and destroying conf
dence in that great center of financial con-
1dence, London. If his errand proves a
fruitless one it will only give additional evil
dence that the United States must act alone
IT,, in other words, opponents succeed in
bringing about bimetallism, they will
ASAASfN oS u great uCdl Oh Ia
Dor and enable us to turn our at
tention to other reforms. If, on the
other hand, they fail in their effort to restore
b1metaliism, after confessng that bimetallism
is desirable, we may expect the American peo-
pie to join with us In the opening of our mints
to free and unlimited coinage at 16 to
other nation
1t will be the duty of the jackson club to
point out from time to time the effect of
Republican policies that the work of edu-
| cation will extend over four years instead of
being crowded into a few campaign months
| The members of the club should not be de-
| TERED by the charge that they are agitators
me Democrats were never afraid to agiate
against the Mckinley bill; the Republicans
were never afraid to agitate against the Will
| son bill; the bankers are now agitating
through their conferences and conventions
1 and through the press against our present
| currency system. Why should those be 81
| ruinous to the masses?
This club and similar clubs can also keep be-
lore the people the progress which is being
| made by the trusts. They can secure SUCH
state legislation as is possible, and bring what
| influence they to bear upon those off,
Gals who are charged with the enforcement
| other work which the clubs can do. Thev
| can encourage the support of those news
papers which are opposing the gold standard.
NO newspaper can long exist without read
| ers, and unless the advocates of free silver
are willing to support newspapers which rep
resent thelr Ideas they must expect to be
|
another work that the clubs can perform
| that they can be prepared to make such a can
VaSs OF their respective localities that they
VIII know whether a sudden increase in the
vote means that there is usually a large s+av
at-nome vote or whether it means that all
| the votes cast are not represented by local
voters. ~ ~
Chicago is the great metropolis of the Mid
die West, and you who live in Chicago will
exert exert large influence upon the politics of the
states tributary to this city. rejoice that
the Democracy of Chicago is supporting the
principles of Jefferson and Jackson, and I
Te1olce that the Democrats of this city are
determined to continue the fight for Democrat
lc principles in the face of all opposition
BID them Godspeed in their work and as I
geneVe' IN the ultimate triumph Of the right
can encourage them to believe that their
| labors viii finally be crowned with success
Following Mr.. Bryan came Mr.. Alt
! geld, to whom had been assigned the
subject, Character and Mission of =
Minority Party" Then came r. M
Ridgely late postmaster at Spring
held, ILL.,, who was recently removed
| by President Cleveland for ''offensiva
partisanShip." He seemed we'll in
touch with his subject, for the reason
as he alleged, that he had lately been
| up against it,
John w. Tomlinson Of Alabama. was
9:3O o'clock. The usual delays incident
and he delivered an eloquent address
upon Memories Of Heroic Conduct. F"
| After Mr.. TomlinsOn came a number.
of local members Of the silver Democ
racy, who spoke, some briefly, some al
considera BILE length.
! The banquet was set for a late hour.
| $3.50 o'clock. The usual delays incidenr
to an affair Of it's kind made If 10
o'clock before it was fully underway
| and bV the time tha a