Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-06-03

SWas One Who Thought That All
Mankind Had Prediction 10,
Coid-stlver Democrats Who Eulo.
gtse Jackson should Read History.
The silver democrats have been un.
usually profuse this year In eulogies Of
Jefferson ind jackson. They have at
tempted to make II appear to those
with democratic instincts that 1t has
been the regular thing for 100 years for
democratic statesmen to champion sill.
YER and cheap money. Jefferson's oppo-
sition to cheap money and reputation
Of debts, and his advocacy Of a coinage
ratio which should always be kept close
TO the natural or market ratio, has been
made clear during the last few months.
The appeals Of the silver democrats to
Gen. Jackson are meeting with the same
fate. In d recent speech eX-Congress-
man Josiah Patterson, Of Tennessee,
after calling attention to the fact that
previous TO 1876 no American statesman
Of any party approved Of the absurd
doctrine that government can maintain
bimetallism regardless Of natural ra-
tios, spoke at some length upon jack
sons position on money and currency.
Here is what he said:
Nothing within the range Of po-
litical absurdity could equal the spec
tacle presented by the followers of
Bryan when they met on the 9Th of jan
uary to eulogize Jackson, who our
geously restored the gold currency.
"Have these gentlemen ever paused
long enough in their assault on the pros
perity Of the country to inquire why it
was during Jackson's administration
the ratio was changed from fifteen to
sixteen to one? II. as they teach
the people, we had the concurrent
circulation of gold and silver
from the passage Of the act Of
1902 down to the suspension Of the COIN
age OF the silver dollar In 1873, why
wa this change made? Are they igno-
rant, or do they disguise the fact that
after the act Of 1902 gold relatively to
silver was undervalued and went out Of
circulation because 1t was worth q lit
tie more as bullion than as money? Do
they forget or do they suppress the fact
that gold remained out of circulation
for more than 30 years prior to 1894?
Are they uniformed, or do they
conceal the fact that statesmen illustri-
GUS in democratic annals for many
years prior to the administration Of
Jackson advocated the restoration Of
the gold currency? Have they never
read history, or do they withhold the
truth, when they ignore the fact that
the bank of the United States selfishly
opposed the restoration because the
people would prefer its bank notes to
a currency SC bulky and inconvenient
as silver. 1t was Jackson who saw the
necessity for action, and who struck the
blow which crushed the bank and
brought hard money to the pockets
Of the people. 1t was Thomas II. Ben
ton, speaking for the administration Of
|
Jackson, who declared in the senate
that the only way to crush the power
Of the bank was to restore gold to cir
culation. Here was the necessity and
the only reason for the passage Of the
act of 1894 establishing the ratio OF
sixteen to one.
"The similarity between the discus
sion which took place in 1894 and the
which took place in 1896 Is
striking and instructive. Hard money
democrats, in supporting the policy of
Jackson, advanced the same arguments
which the sound money democrats adj
vanced in supporting the policy of
Cleveland. If the hard money dem
Dcrats insisted that the naturalization
Of gold by the act of 1902 forced it out
Of circulation, the sound money dem
ocrats insisted that the proposition in
The Chicago platform to undervalue sill
YER, II carried into effect. would bring
about the same result.
IF the hard money democrats recog-
nized that the act Of 1902 had no per-
influence on the commercial
7alue of either gold or silver, and the
,nly way to restore gold TO circulation
vas to change the ratio, the sound mon
y democrats recognized that the free
nintage of silver at the ratio Of six
cen to one when the market ratio was
hirty-two to one, would result inev-
in silver monometallism. II the
lard money democrats contended that
mankind had a prediction for
the sound money democrats con-
ended that a gold standard was pref
'rable to a silver standard. II the hard
money democrats, in order to main
ain the gold currency when restored,
Indervalued silver by making the coin
&c ratio sixteen to one when the mar
.et ratio was 1855 to /, the sound money
emocrats resisted the scheme to over
alue silver 80 as to force the retirement
I gold. II the hard money democrats,
fter the passage Of the act Of 1884,
ointed with pride and exultation to the
rosperity which followed the restora-
ion of the gold currency, the sound
money democrats have never faltered in
their countrymen Of the dis
ster which would follow its retire