The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-08

Standard advocates IN the same pOiitiC%A
organizations. ard it will be more diff
cult task in the future than it has been
this year. To use common illustration.
a hen is always disturbed If she has in her
brood a few ducks which insist on pad
ding in the water while the chickens are
content to scratch on the land. TIE Demo-
cratic party will in like manner be i'll at
ease If il has a few web-footed members
VINO insist on crossing the ocean while the
great majority OF the party are willing TO
lind their political food upon American soil.
Not only Is this separation between the
gold-standard Democrats and free-sllVer
Democrats necessity, but II ought 10 be
desirable to both sides. III the gold-stand-
ard Democrats are as bad. politically. as
we think they are we ought not TO care
to affiliate with them and If those who
supported the Chicago platform are half
bad as the gold bugs say they are apt
to contaminate all who associate with
them. In my opinion there should be no
compromise of the issues involved i'm the
late campaign and no terms short of ab-
solute surrender offered those who nave
deserted us. If any Democrat becomes
| convinced that the gold standard is neees-
sary. or becomes defender OF trusts. ne
can leave the party and join the Doitlng
Democrats or the Republicans. III any
boting Democrat sees the error OF MS way
and is willing To indorse the Chicago plat
form and labor with those VINO seek t.,o To
carry IL into effect We Will welcome such
| Democrat back into the fold
I'VE are engaged now In just such con-
passed and we do well on this occasion TO
! take announcement from his devotion TO
| the cause of the people. He gained MS
greatest victory in his nght against tne
| national bank We have the same fight
on hand to-day. The national bank is seek
| ing to force retirement OF the green
| backs and then monopolize the Issue OF
paper money. The Republicans, during the
| campaign just closed, avoided this subject
| and refused To declare themselves either
| for or against the retirement OF the green
| backs But when they come TO apply their
ideas to legislation, they must disclose
| their views
| partment near the close of December show
| ed available cash balance. lnclcuIng goid
| reserve of more than s225OoO.O0o or TINS
| sum about S50O00.O0O was In greenbacks
| and about S35 100 in treasury notes. This
money is either good or bad. If 1t Is good
it ought to be in circulation among the
! people instead of locked up i'm the vaults at
| Washington. To keep balance of S225.OOo-
| coo in the treasury when the money Is
| Thesonly way to get this money out among
! the people is. first. to have the taxes less
| than the expenditures. in which case the
amount of the deficit being saved 10 the
! people in taxes is virtually paid TO them
| in the proportion i'm which they pay taxes
and. second. to loan il out through banks
| plus of about $125 600 900 above the reserve.
! For the fiscal year ending June 30. 1885 the
| expenditures exceeded the receipts nearly
| $4,000. Geo. for the year 1896, little more
| than So 000. eco.
RECENT BANK FAILURES.
"If the Republicans attempt 10 increase
| the revenue they must expect either to in
| crease the expenditures or the surplus in
| the treasury think We are safe in assum-
ing that they are hostile to the greenback,
not because 1t is inferior TO the bank note,
but because the national banks desire to
retire the greenbacks with bonds and then
draw upon the bonds the interest which the
people as a whole now save on the green
backs. While the Republicans have not yet
had opportunity 10 write their policies
| on the statute book, we have proceeded
| far enough TO discover that the mere an
| nouncement of Republican success does not
| rt store prosperity. If the advocates of free
| silver had0won every bank and business
| failure would have been attributed 10 their
success and the gold standard papers would
have been loud in their wailing. But the
| Republican organs. although compelled TO
chronicle increasing number of business
failures over the corresponding period of
last year. never connect these failures with
| Republican success
seven national banks failed. and in the
| month of December eight more closed their
uUors. / nnd on examination of statistics
that December witnessed the closing OF
more national banks than were closed in
any other month since Jan. 1. 1892. except
ing the three months of the panic of that
year One bank announced the cause
of its failure inability to realize upon as
sets This notice was confession of the
argument made during the campaign by
the advocates of free coinage. We have
all insisted that the gold standard was de-
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 come
fICm other nations. The press dispatches
state that the holiday trade in Germany
was disappointment TO the merchants.
The fact that Senator Wolcott: of Col
orado. has been sent abroad by the Presi-
dent-elect as an ambassador most extraor-
binary to bring Europe TO bimetallism Is
| an evidence that the gold standard s still
| concealing it's blessing from the American
epple. If the gold standard is the stand
| ar of civilization why should risk q
| return to barbarism by chasing after in
ternational bimetallism! Ii Senator Vol
colt succeeds in stirring up silver agi.
tation in England he will be accused OF
disturbing business and destroying conf
dence in that great center of financial con.
fruitless one IL will only give additona
evidence that the United States must ae
alone IT, in other words, our opponent:
succeed in bringing bimetallism they viii
| relieve us Of great deal of labor and en-
| able us TO turn our attention 10 other re
| forms If on the other hand. they fail IL
their effort to restore bimetalism. aftel
| confessing that bimetaliism is desirable
we may expect the American people t'
join with US in the opening Of our mint'
| 10 free and unlimited coinage at 10 TO
without waiting for the aid or consent o.
any other nation.
| URGED III AOl1 A T.
eft will be the duty of the Jackson Clul
to point out from time to time the effec
of Republican policies that the work of ed
ucation will extend over four years instea'
: of being crowded into few campaign
months The members of this club shoul'
+ not be deferred by the charge that the.
are agitators The Democrats were neve
afraid to agitate against the Mckinley bill
the Republicans were never afraid To agi
tate against the Wilson bill: the banker
are now agitating through their confer
ences and conventions and through IN
press against our present currency system
WHY should those be silent who beliey
that the gold standard is ruinous TO IN
: masses? This club and similar clubs cal
also keep before the people the progres
can secure such State legislation as is pos
sibe and bring what influences they ca
to hear upon those officials who are Charge
with the enforcement or the law.
Let me call attention TO another Wor
which the clubs can do. They can encour
age the support OF those newspapers wnlc
are opposing the gold standard. No news
: paper can long exist without readers, an
unless the advocates OF free silver are Will
ing TO support newspapers which represen
their ideas they must expect 10 De WlthOu
newspapers. And l might suggest as an
| other work that the clubs can perforr
. | that they can be prepared 10 make such
| canvass of their respective localities tina
: | they will know whether a sudden increas
! | i'm the vote means that there Is usually
! | large stay-3t-home vote, or whether
: | means that all the votes cast are not rep
resented by legal voters.
, Chicago is the great metropolis OF IN
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