The herald., 1897-01-08
TWENTY. sixth YEAR. NO. 100

good or bad. II II Is good 1t ought to be
in circulation among the people instead
of locked up in the vaults at Washing
ton. To keep a balance of $225, 900 Oc0
In the treasury when the money Is need
ed among the people is inexcusable. The
only way to get this money out anon K
the people Is, first. to have the taxes
less than the expenditures, in which case
the amount of the deficit being saved to
the people in taxes is virtually paid to
them in the proportion in which they pay
taxes; and second, to loan it out through
banflSs or other agencies. We have now
a surplus of about 1925, COO GOO above the
reserve. For the fiscal year ending June
30, 1895, the expenditures exceeded the
receipts nearly $43,000o00: for the year
1896 little more than $4,000, 900.
During the month of November 1896
seven national banks failed and in the
month of December eight more closed
their doors. l find upon examination of
statistics that December witnessed the
closing Of mere national banks than
were closed in any other month since
January l. 1893. excepting the three
months of the panic of that year
One bank announced as the cause of
cent upon its assets" This notice was
confession of the argument made dur
ing the campaign by the advocates Of
free coinage. We have all along insist
ed that the gold standard was destroy
ing 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 holi-
day trade In Germany was disappoiIt-
ment to the merchants.
The fact that Senator Wolcott Of Colo
rado has been sent abroad by the presi-
dent-elect as an ambassador most extra
ordinary, to bring Europe to bmetal-
lism, is an evidence that the gold stand
ard is still concealing its blessings from
the American people. If the gold stand
ard Is the standard OF civilization why
should we risk Il return to barbarism by
chasing after interna tional bimetallsm?
IF Senator Wolcott succeeds in stirring
up a silver agitation in England he Will
be accused of disturbing business and
destroying confidence in that great Gen.
ter of financial confidence, London. If
his errard proves a fruitless one 1t will
only give additional evidence that the
United States must act alone. If. lii
other words, his opponents succeed IN
bringing bimetallism they will relieve
us of a great deal of labor and enable
us to turn our attention to other re-
forms If, on the other hand, they fail
in an effort to- restore bime tallism. after
confessing that bimetallism is desirable,
we may expect thS- American people to
join with us in the opening of our mints
to the free and unlimited coinage at
16 to 1. without Waiting for the aid or
consent of any other nation.
1t will be the duty of the Jackson club
to point out from time to time, the ef-
feet of Republican policies so that the
work of education will extend over four
years instead of being crowded into
few campaign months. The members
of this club should not be deferred by
the charge that they are agitators. The
Democrats were never afraid to agi-
tate against the Mckinley bill; the Re-
publicans were never afraid to agitate
against the Wilson bill; the bankers are
now agitating, through their conferen-
ces and conventions and through the
press, against our present currency sys-
tenn. Why should those be silent who
believe that the gold standard is ruin
Gus to the masses?
Chicago is the great metropolis of the
middle west and you who live in Chi
cago will exert a large influence upon
the politics Of the states tributary to
this city.
The Democracy of Chicago is support
ing the principles of Jefferson and Jack
son. and / rejoice that the Democrats of
this city are determined to continue the
HSHl TOT DeIIlOCIdtlc pIlHCipleS III tIc
face of all opposition. l bid them Cod
speed in their work and as I believe in
the ultimate triumph of the right, car
encourage them to believe that their
iabors will family be crowned with sue
cess.
AN ELECTION POST MORTEM.
CANTON, O., Jan. THE Bryan Free
Silver club had tonight what Allen o.
Myers of Cincinnati, one of the speakers,
ara an Ohio Democrat of some prom
inence. is pleased to term post mortem
over the recent election. 1t is q banquet
intended to do honor to the memory of
Jackson.
Covers were laid for nearly 500 guests.
The Woman's auxiliary to the club as
sisted in the arrangements, and many
women were among the guests. a num-
Der of local leaders in the Democratic,
Populist and Prohibition parties, in
Guiding Gen. l. r. and Mrs. Sherwood.
delivered addresses. Toasts were also
responded to by Gen. A. j. Warner of
Marietta, Allen o. Myers of Cincn-
natl, Congressman-el Lentz of CO.
lumba, Judge Blandln of Cleveland,
and others. Invitations were sent broad
cast over the country and letters sent
by William ]. Bryan. Hon. Richard T..
Bland Senator Stewart, and j. r. Sow
ereign were read during the celebra-
ton.
Mr.. Bryans letter is as follows:
Your favor of December 9TH just at
hand. 1 have already accepted an in
vitation for the 7th of January, and
therefore it will be impossible for me
TO be present at your banquet on that
date.
Permit me to express my regret at
my inability to be there, and through
you to thank the members of your club
for the efficient work which they did
through the campaign, and for their
continued good will.
IF we were right in the position taken
In the campaign we are still right. If
our opponents were wrong during the
campaign they are still wrong. Post
election events only confirm me in the
opinion expressed during the campaign
that no permanent and general prosper
ity can be expected under the gold
standard. Experience is at least the
test of political theories and we can
patiently abide the practical test to
which the theories of our opponents
will now be put, prepared to take ad-
vantage Of their failure. If they tail.
Wishing for your club long life and
usefulness l am,
(SignedD wv. J. BRYAN"
Following Mr. Bryan came Governor
Altgeld. to whom had been assigned the
subject Character and Mission of a
Minority Party.
Then came r. M. Ridgley, late post
master at Springfield. ILL.,, who was re-
Gently removed by President Cleveland,
on Offensive Partisanship. He seemed
we'll in touch with his subject for the