The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-28
srx.rop voLcOrr,s SPEECH.

WOlcott. or Coloraco' iaSt
night at the dinner OF the New England
Society in New York. but one thing or
another has displaced II. In the course
OF It he said
I'm certain directions our domestic dll-
forenoes are crystallizing. and not disin-
tegratlng For more than generation
we have waited for the day when parties
would divide solely on national questions.
and when the old sectional issues grow
ing out of the war and the race problem
would be buried. The time came. Ine
parfies met on a broad economic ques-
ton. and loi we emerge from the con-
test threatened with another sectlonaI
division The far West. largely the chiid
OF the East. and pulsing with It's blood.
Joins hands with the South The new
alignment Is not only debtor against
creditor class against class. but IN
land pcrvaded with equal devotion 10
what its people believe Is the trueSt "ei-
care Of the whole country. great MAORI
ties in one section face equally great ma
iorities in another. SO universal feeiins
as that which pervades the West cannot
be all wrong. You cannot dispose OF
conviction held by millions OF intelligent
people by calling II craze. and some DAY
YOU NAV find II worth your while to look
for the truth where II is usually hidden
somewhere between the extremes.
Senator Wolcctt is enc Of the free silver
Ie1Cers who mas had as much TO do rs
airy ctler man in this country in creating
the issue dividing the country now when
no describes. and what has he TO say
of It? lie says It has made sn align
ment CT debtor against creditor and class
against class. That Is what we have al
WAYS known vas intended by the leaders
OF the new Democracy proclaimed at
Chicago. but this is the first instance IN
which a free silver lcader has confessed.
40 far as we know, that the purpose of
the tree coiners is to set debtor against
creditor and class against class.
What IS the meaning OF setting debtor
against creditor There can be but one
meaning. The debtor owes the creditor
an obligation. and TO set him against his
creditor is Of course. TO inspire him 10
seeking a way to escape that obligation
in whole or in part. If he viii go Tor
ward and perform his obligation as II
exists there will be no possibility of
making any Issue between them. 1t is
only when an effort TO evade the obliga-
ton is set on foot that there can be any
possibility Of al issue between them. And
what is the meaning 1T setting class
against class? Under .he conditions pre-
vailing i'm this country there can be but
one meaning TO that. Wolcott means
that the poor are 10 be arrayed against
the rich in an endeavor 10 take from the
rich something that they have and di-
vide it out amongst the poor.
Here, then. we have an open and frank
avowal from a leading advocate Of the
free coinage of silver that 1t is their
purpose to set debtors against creditors
and poor against rich, because. when
that is the issue. the debtors will buy
silver to pay their debts with and the
poor will insist that all debts due to the
rich shall be paid in silver dollars be-
cause they will thereby be deprived of
at least one half of what they have.
This is a very brutal and frank confess
sion. but II ought 10 prove a very valua-
BILE one to the American people.
Mr.. WolcOtt pursued his theme with
the following entirely consistent re-
marks:
Somehow il is not really recognized in
the West that ability 20 reorganize
western railroad and swell its stock ana
securities several millions every time II is
foreclosed necessarily indicates an equal
ability TO determine the wisest economic
policy for the farmer who lives along the
right of way. and men who would no
more dream Of entrusting their banker
with the duty Of formulating their finan-
cial views than they would of entrusting
the man of whom they bought shotgun
with the command of the armies OF the
country, are naturally inclined 10 rear
that in this part OF the moral vineyard
there is a tendency TO assume that the pos
session of great wealth means. necessari-
w. the possession Of great wisdom
We forbear 10 make any especial re-
mark here upon Mr.. W'olcott's Fopulistic
views OF the relations Of railroads to the
public because we propose TO write a
special article upon that subject but we
carnot forbear 10 say word about his
ideas Of the relations Of bankers 10
finance.
The chances ere at least nnety-nine
on. Of every hundred that when YOU en-
counter banker you will meet man
who has entirely correct views OF what
is necessary to sound finance. We do not
here take in paper currency, because the
bankers of this era have been reared
with the spectacle of a great and pre-
sumably good government presiding over
the paper currency system that its
children use until they have come TO
think that the government really has
some proper connection with paper cur
rency when every philosophical thinker
knows that It has none whatever
But when money-the standard OF value
lis the subject in hand, the chances are
ninety-nine in a hundred that whatever
banker is met knows that there can be
but one money-one standard OF value
that the suggestion of free silver is fatal
to that idea. and therefore Mr.. Wolcott's
western friends could not possibly do bet
Ter than to entrust to their bankers the
formulating OF their financial views.
The bankers business has taught him
in daily life that the wild notions of Mr..
Wolcott and his western friends about