The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-08

nominees haze a right to call themselves
better Democrats than those VINO sup
ported such nominees then the boltlng
Democrats who bolted the bolting t-cket
and voted for the Republican nominees
have a right to call themselves better
Democrats than the boilers who sup
ported the boiling ticket. The right TO
party organization belongs to the ma
jority and the right to the party name
must also belong to the majority.
There should be no difficulty IN IN
Outstanding the relations which should
exist between the Democrats VINO re-
manned in the party and those persons
who went out of the party. party IS
defined as an association of persons VINO
agree upon an important question or
questions and who unite to give erect 10
their ideas. The money question became
the paramount issue of the day, the
Democrats in convention took a position
upon the question and made a galianl
fight in defense of the platform ADOPTED
If the money question was now con-
sidered settled another issue could be
taken up and new alignment nlauS'
but the money question is not settled-
The contest for the restoration OF the
money of the constitution will go on WIN
renewed vigor- The people who advocated
free silver before the election advocate
ii now. The election has decided the
presidency for four wears ana II mas
determined the complexion Of congress
for two years. but il has not oVerthroWn
the convictions of those who believe that
the gold standard is a conspiracy against
the welfare of the producing masses nor
has It changed the convictions OF nose
who believe that trusts must be abollShed
and corporations made TO obey the law
THEY CANNOT MIX.
This campaign has shown the imDos
SibiIity of keeping bimetalliStS ana gold
standard advocates in the same 2ohtical
organizations and it will be a more dill
cult task n the future than II mas Deen
This year To use a common illustration
a hen IS always disturbed if she mas IN
Ter brood a few ducks which insist upon
padding IN the water While the cIiiG Ken
are content to scratch upon the ldhu.
The Democratic party Will IN IKE manner
be III at ease if it has few Wep-looteo
members who insist upon CROSSING tle
ocean for their ideas while the great ma
iut'ity of the party are Wiling TO Hl!u
their political food upon American son.
Not only is this separation between the
gold standard Democrats ana Tree SIiNSI
nemocrats q necessity, but il ought 10
be desirable to both sides. If the gold
standard Democrats are as bad, poltlcal-
~, as we think they are we ous qua HG if
to care to affiliate with them ana Il
those who supported the Chicago plat
form are half as bad as the godDuss
say they are, they are APT 70 coHI u, III,
ate all who associate with them In my
CDiniOn there should be no compromise
of the issues involved IN the idte c 5lLIo
Daign and no terms short OF absolute
surrender offered those who nave ue-
serted us If any Democrat becomes COLI
WINGED that the gold standard IS heces-
sarv or becomes Il defender OF trusts,
4
ing Democrats or the Republicans. II any
holting Democrat sees the error OF ms
wav and is willing to indorSe the Cn-
90 90 platform and labor with those WHO
seek to carry it into effect we VIII vel
come such = Democrat pack lhlo the
fold. ~,
We are engaged now in just such
contest as that through which Andrew
jackson passed and we do well on TINS
occasion TO take ENCOURAGEMENT from
his devotion to the cause OF the peoDie.
He gained his greatest silver victory III
his tight against the nationa' bank we
have the same fight on hand To-Day
The national bank is seeking TO force
a retirement of the greenback, and then
nonoooliZe the issue of paper money.
The Republicans during the campaign
just closed. avoided this subject ana re
fused to declare themselves either Iof OF
against the retirement OF the green
backs But when they come to apply
their ideas to legislation they must dis
close their views.
TO RESTORE PROSPERITY.
A statement issued by the treasury
department near the close of December
showed an available cash balance, in
sos. 600 OOO OF this sum about $50,000,
O0G was in greenbacks and about $780,
coo 900 in treasury notes. This money IS
either good or bad. If it is good it ought
TO be in circulation among the people
instead of locked IN in the vaults at
Washington. TO keep balance Of $223,-
600 900 in the treasury when the money
: needed among the people Is 1neXcuSa-
BILE. The only ways to get this money
out among the people are, first TO have
the government receipts less than the
expenditures, in which case the amount
of the deficit being paid from this sur
plus and saved to the people in taxes, Is
virtually paid to them in the proportion
in which they pay taxes; and second. to
loan il out through banks or other agen-
cies- We have now surplus of about
$l25 coo 900 above the reserve or the
fiscal year ending June 50. 1895. the eX
DenditureS exceeded the receipts nearly
SIS, 900. 900: for the year 1896, little more
than S25.000000. If the Republicans at
tempt to increase the revenue they must
expect either to increase the expendi-
lures or the surplus in the treasury /
think we are safe in assuming that they
are hostile TO the greenback, not because
il is inferior to the bank note, but be-
cause the national banks desire to retire
the greenbacks with bonds and then
draw upon the bonds the interest which
the people as 4 whole now save on the
green backs.
While the Republicans have not yet
had an opportunity to write their poll
cieS upon the statute book. we have /
proceeded far enough to discover that |
the mere announcement OF Republican /
success does not restore prosperity. If I
the advocates of free silver had won. /
every bank and business failure would /
have been attributed TO their success.
LATE BANK FAILURES.
During the month of November 1895 |
seven national banks failed, and in the |
month of December S more closed /
their doors. l find upon examination of /
the statistics that December witnessed /
the closing of more national banks than |
were closed i'm any other month since /
January 1, 1893 excepting the three |
months of the panic of that year.
one bank announced as the cause of |
it's failure, inability to realize upon
assets" This notice was a confession
Of the argument made during the cam
paign by the advocates of free coinage
We have all along insisted that the gold
standard was 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 complaint comes from
other nations. The press dispatches
state that the holiday trade in Germany
was disappointment to the merchants.
The fact that Senator WOlcott of Colo
dent-elect as an ambassador extra
to bring Europe to bimetalliSm.
Is an evidence that the gold standard
is still concealing its blessing 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 bimetallism? II
Senator Wolcott succeeds in stirring uD
4 sSyer agitation in England. he will be
accused of disturbing business and de-
stroying confidence in that great center !
IF financial cOnfidence-Londcn IL his
GRAND proves a fruitless one. il viii only
1--WE additional evidence that the United
States must act alone If our opponents
succeed in bringing about bimetallism.
hey will relieve us of a great deal of
abor and enable Us to turn our attention
O. other reforms. If, on the other hand,
cot 70 ,.astora birnptaIlicm after