The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1898-03-26
Government Deficiencies and the
Remedy.

March 16:
The restoration of sound financial policy,
reviving the business interests of the entire
country, will cause deficits in all the Depart
ments to cease. That which stagnates bust
ness interests and affects injuriouslv the pros
perily Of our people affects all the depart
ments of our Government. The permanent
policy designed for our country and the
theory upon which our business interests were
adjusted was the double standard | very
much regret that this House did not ad0pt the
Teller resolutions, which simply declared
that Congress would recognize, abide by. and
enforce the plighted faith of the nation and
the contracts of the Government.
The financial policy declared in those reso-
lntions had stood as the fixed policy of this
Government from 1892 to 1873 Under that
policy every foot of the territory annexed to
the thirteen original States was acquired.
Under that policy every war. either foreign
az domestic. was wagcd to its conclusion.
Under that policy every debt public or pri
vate. for eighty-o one years had been contracted.
If am asked from whence comes the au-
thority for the use of the dnuhle standard,
answer, from jefferson. If | am asked from
whence comes the authority for the ratio Of
Is TO |. | answer. from jackson.
In 1873 we had safely passed through the
greater dangers and obstacles of the recon
struction period. Our whole country. in IA
spirit of generous rivalry, was engaged i'll de-
velOping our agriculture and our commerce.
Our domestic relations were contented. our
hopes as nation were as buOyant as youth
III gentle springtme. Labor WAS employed
at remunerative wages. Farm products ON
manded good prices: wheat was selling from
LAO to 81. % per buSheI: corn from 40 to 70
cents per bushel; potatoes 80 to 60 cents per
bushel: hay from SD to SlS per ton. \ good
horse such as now sells for $50. then readily
sold for $50. There was then an ample vol
ume of money.
In 1878, without request from any ma
tional, State, district, county. or municipal
convention OF any party, the act of 1873 was
passed. This was followed by Il panic equaled
only by that in the shadow OF which we are
still standing, lasting for over four wears.
The people demand Il return To that system
to which they were welded and from which
they had been surrepitiouslv divorced
As a result Of the agitation Of that period Il
compromise was effected by which passed
the Bland Allison Act providing for limited
issue of silver under certain conditions.
While this to some extent restored confidence
and revived business, it did not fully satisfy
the people. They ,emanded free coinage
and felt that mo question is ever settled until
1t is settled right
The agitation continued until 1890 when
the Bland Allison Act was succeeded by the
Sherman law providing for the purchase Of
silver bullion. Temporarily this satisfied the
people. but free coinage was what they want
ed. and the question was not settled right.
The Mckinley tariff bill was passed i'll 1890
for the nominal purpose of giving the farmer
Il good home market.
Under the Sherman finance law and under
the Mckinley tariff law the hard times had
their incipiency. Money in circulation was
growing less day by day.
In the early part of 1892 business failures
became much more frequent Times were
becoming harder every day This factory.
that shop, this mine here and there all over
the country closed. While the single gold
standard had been the law of the land since
1813 its cruel enforcement was not attempted
until July II, 1892, when Secretary Foster
issued his famous edict by which he declared
which he surrendered The option held by the
Government of paying in either gold or sill
yer, at the demand of the holder.
In the summer and fall of 1892 strikes and
lockouts occurred more frequently. More
men than ever before were out of employ
ment. And | believe it was in October,
1892. while the Sherman finance law and the
Mckinley tariff law were in force, that armed
men, imported from other States, employed
by wealthy corporations, shot to death Ameri
can laborerS in the streets of Homestead.
All these things happened before the election
of 1892. And these are the matters and these
are the conditions that existed us the voters
marched to the polls in 1892, and it was
these occurrences that emphasized in the
minds of the people the necessity for
change.
1t was the hard times, scarcity Of money,
general DEPRESSION strikes, and the murders
at Homestead that caused the great tidal wave
to sweep over the country in 1892.
The Cleveland Administration simply took
charge Of the Government at time when il
was already in the thrOes of Il panic. and con-
tinued in force the same gold standard policy.
AS a consequence. the hard times and scarcity
of money and unemployed labor still CON
tinued. Every inspiration of financial life
drawn by the present Administration is copied
literally from the former Administration.
Low prices for farm products are the rule
everywhere Until there is such a policy as
will bring genuine, lasting prosperity to the
agricultural classes, other classes, other in
dustries, and other professions must continue
TO suffer.
The gold-srandard policy is an experiment.
The double STANDARD policy is not an expert
ment For eighty-one years it demonstrated
that it was success. For twenty-tour years
we have been experimenting with the single
standard, and during all that time we have
had trouble, doubt, uncertainty. two panics,
conflicts between labor and capital, trouble
between employer and employee. We have
had strikes, murders, and disorder. I'M
der the gold standard we have had the
Constitution disregarded by the inventions of
wealth under the name of government by
Injunction. Under the gold standard we
have seen monopOies organize and thrive to
such an extent that, instead Of the Govern
ment by the law ruling the monopOlies. the
monopoies now rule the Government.
In view of all the evils that have arisen
under the gold standard, the gentleman from
Washington Mr.. Lewis rendered his coun-
try signal service when he delivered his able
and eloquent speech entitled The passing
away of representative government
With the gold standard and the Mckinley
tariff law we had depression, falling prices,
and panic precipitated
With the gold standard and the Wilson
tariff law we had hard times, scarce money,
labor out of employment. and a financial
panic continued.
With the gold standard and the Dingley
tariff law we have continuation of the same
ills and multiplication of trusts.
The experiment of the gold standard has
proven that as policy of finance it Is not
suited to the diversified interests of our cOun-
try.
Therefore, on behalf of the agricultural
classes, in the interest of the whole country,
beg YOU to return to the ouble-standard
policy, which for eighty one years was weighed
in the balance and was never found wanting.
We have been admonished to beware lest
we plunge our laboring men to the level OF
the pauper laborers Of Europe. To that
reply that they have the gold-standard policy
in Europe, and that financial policy. which
creates pauper laberers in Europe will pro
duce pauper laberers in Americt. Like
causes produce like results the world over.
To proper financial policy add fair system
of tariff taxation, and then see that public
money is faithfully expended, and then and
not till then will deficits in the Department
cease. [Applause.
Women Have High Time.