The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1897-07-02
WHAT JACKSON DID.
CRUSHED BANKS IN ORDER TO RE-
STORE GOLD TO CIRCULATION.

CRUSHED BANKS IN ORDER TO RE-
STORE GOLD TO CIRCULATION.
Changed Ratio From Fifteen to Sixteen to
One to Bring Gold Bacls--Jyas One Who
Thought That All Mankind Had Pred
Election For Gold-silvcrites Who Eulo.
gize jackson Should Read History.
The silver Democrats have been un-
usually profuse this year in eulogies Of
Jefferson and Jackson. They have at
tempted to make it appear to those
with Democratic instincts that it has
been the regular thing for 100 years for
Democratic statesmen to champion sill
yer ard cheap money. Jcfferson'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 CT the silver Democrats
to General jackson are meeting with
the same fate. In recent speech
ex-Congressman 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 nat
ural ratios, spoke at some length upon
Jackson's position on money and cur
rency. Here is what he said:
Nothing within the range Of po-
litical absurdity could equal the spec
tacle presented by the followers of Bry-
an when they met on the 8th of Janua-
ry to eulogize jackson, who courageous
ly 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 Is to 16 to
/? If, as they teach the people, we had
the concurrent circulation of gold and
silver from the passage of the act of
1892 down to the suspension of the coin
age of tie silver dollar in 1878, why
was this change made! Are they igno-
rant, or do they disguise the fact that
after the act Of 1892 gold relatively to
silver was undervalned and went out of
circulation because it was worth lit
tie more as bullion than as money? Do
they forget or 90 they suppress the fact
that gold remained out Of circulation
for more than 80 years prior to 1884?
"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 seliishly opposed
the restoration because the people would
| prefer its bank notes to a currency so
| bulky and announcement 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. Benton, speaking for
the administration of jackson, who de-
clared in the senate that the only way
| to crush the power of the bank was to
restore GOLD 70 circulation Here was
tho necessity and tLe onlv reason for
tho nossaoa If the net If 1894 establish.
inc the ratio If ia IN
aTbe similarity between tho d;scns.
sion which took Mace in 1874 and Tho
discussion which took place in 1896 is
striking and Instructive Hard money
DemocTats in snnnoTtino the nolicv Of
1ockscn .dvorced the samo ARGUMENTS
ub;cb tho sonnd roroy De,nccrats ad
,orcod IN srnno,t;ro tho nol;cy of
cleveland II The hard money dem.
~ cold bv tho oct Of 400 forced + ont
- o;ro,i.t;o,, ,ho .o,,,,d ,no,ov De,,.
oorots ins;stod thot Tho rronos;t;on in
tba Tb;o.oo n,otfor,, ,o nynrvolre 81.
nar - oary;od NC offoc+ u.or,d br;no
oho,t tho soma resnIt
"1f t,,o h.r,, ,,,o,,o,, Do,rooro+s roco,-
,;,ed that tho cot ~ 100 had No Nor.
oant;hla ;,eronoo On the conmerc;a,
,oiuo ~ e;thor cold or s;lver and Tho
only wav 70 restore cold to circulation
,ras 20 ohonro tlo rat;o +ho sornd mon.
ev Do,nocrats recoon;zod that the free
,,;,taao - s;lrar g. ,Lo rot;o of 70 70 /
mha,, tho ,narLat rotio ,ras 90 70 ,
,ronid ros,,,. ;,,ar;t.hI, IN s;Ivor mono.
r.ota,l;s,n 70 tha hord nonov Dem.
ooua.s ., s..,,at 81, - anL;,d had
q nrad;,oo,;o,, fo- ,oId - tho sonnd mon.
-, no..,ooro., oa,,to,'doa .hot cold
st.ndord ,nos nuafarabIa 20 s;Ive,
standard 10 az hard ,,,onov Democrats