The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-01-14


understanding the relations which should
exist between the democrats who remain
ed in the party and those persons VINO
went out of the party.
"a party is defined as an association OF
persons who agree upon an lulportant
question or questions and who unite 10
give effect to their ideas. The money
question became the paramount issue OF
the day; the democrats in convention took
position upon the question and made a
| gallant fight in defense of the platform
| adopted. If the money question was now
| considered settled, another issue could pc
| taken up and new alignment made
| But the money question is not settled.
| The contest for the restoration OF the
money of the constitution will go on with
renewed vigor The people who advo-
Gated free silver before the election ad,
| vocate it now. The election has decided
| the presidency for four years and it has
| determined the complexion of congress for
| two years, but it has not overthrow the
convictions of those who believe that the
gold standard is conspiracy against the
welfare of the producing masses, nor mas
| il changed the convictions of those who
believe that trusts must be abolished ana
corporations made TO obey the law:
This campaign has shown the impos,,
sibiity of keeping bmctallists and gold
organizations and it will be IL more diff
cult task in the future than it has been
this year To Use Il common lllustra-
ton, Il hen is always disturbed If she
has in her brood Il few ducks who INSIST
upon padding in the water, while thc
chickens are content to scratch upon the
land The democratic party will III IKE
manner he i'll at ease if it has few web
footed members who insist upon crossing
1, H., In ma n
the party are willing to find their political
food upon American soil. Not only is
this separation between the gold stand
ard democrats and free silver democrats
Il necessity, but it ought to be desirable
to both sides If the gold standard dem
ocrats are as bad politically as we thlnk
they are, we ought not TO care to affiliate
with them, and if those who supported
the Chicago platform are half as bad
as the gold bugs say, they are apt to con-
taminate all who associate with them.
In my opinion there should be no compro-
mise of the issues involved in the late
campaign and no terms short of absolute |
surrender offered those who have desert |
ed us. If any democrat becomes CON |
WINGED that the gold standard is necees- |
sary or becomes Il defender OF trusts, ne
can leave the party and join the bolting |
democrats or the republicans. If any
boiling democrat sees the error OF ms
way and is willing to endorse the Chl-
cago platform and labor with those who
seek to carry it into effect, we will wei
come such a democrat back into the fold.
1--WE are engaged now in just such
contest as that through which Andrew
Jackson passed and we do well on this
occasion to take encouragement from his
Ievotion to the cause of the people. He
aimed his greatest victory in his fight
gainst the national bank.
1--WE have the same fight on hand to-
nv. The national bank is seeking to
orcc retirement of the greenbacks and !
len monopolize the issue of paper money.
he republicans, during the campaign
list closed, avoided this subject and re- t
lsed to declare themselves either for or I
ut when they come to supply their IDEAS i
legislation, they must disclose their h
cws.
"a statement issued by the treas. n n
v department near the close or
pcember showed an available
sh balance, including gold reserve, u
out $4,000, 600 were in greenbacks 81
d about 100000 in treasury notes.
lis money is either good or bad. If it IL
good it ought to be in circulation h,
long the people instead of locked up g,
the vaults at Washington. To keep
balance of $225,000,O00 in the treas of
V when the money is needed among W
! people is inexcusable. The only way &C
get this money out among the people
first. to have the taxes less than the 8:
penditures, in which case the fl
iount of the deficit being saved to the dl
ople in taxes. is virtually paid to them W
the proportion in which they pay
xes; and, second, to loan it out through
nks or other agencies. We have now
surplus of about $135,000,000 above o
G reserve. For the fiscal year ending
me 80, 1895, the expenditures exceeded
c receipts nearly $42,O00,0O0; for the g,
ar 1896, little more than S25OOO,- ;,
10. a
"If the republicans attempt to increase n
&c revenue they must expect either to n
crease the expenditures or the surplus n
the treasury. | think we are safe in O
stunning that they are hostile to the
-eenback, not because it is inferior to 7
lie bank note, but because the national s
lnks desire to retire the greenbacks "
it'll bonds, and then draw upon the b
onds the interest which the people as a
whole now save on the greenbacks.
' lllt lut ItpuDllItlS hiNc NV SNl huu "
II opportunity to write their policies
pom the statute book we have proceed 4
4 far enough to discover that the mere !
of republican success does j
OF restore prosperity. If the advocates G
f free silver had won, every bank and
usness failure would have been at I
ributed to their success, and the gold /,
tandard papers would have been loud )
n their wailng. But the republican or
ans. although compelled to chronicle an
Increasing number of business failures ,
yer the corresponding period of last .
ear. never connect these failures with
epublican success. p,
During the month of November. 1896,
even national banks failed, and in the i
month of December eight more closed I
heir doors. ! find, upon examination of
that December witnessed the
losing of more national banks than were
'loscd in any other month since January
l., 1893. excepting the three months of
,anic of that year.
"One bank announced, as the cause of
is failure. inability to realize IL upon
,ssets.' This notice was confession
If the argument made during the cam
Daign 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