The Indianapolis journal., 1900-06-07

OF Dingleyism. The famines and the crop
failures in foreign countries have been
have high taxes ar home pTf He has @ long i since
learned that you may make a class, but
never people. rich by taxation The for
etgner who consumes a bushel OF our
wheat does more toward improving the
condition of the American farmer than
does the individual who takes from him
dollar extra on his plow by virtue Of
Dingleyism.
The Improved condition in labor and
business circles, which has been so en-
Enthusiastically attributed TO the Dingley
law. is now threatened. although the law
is in full effect and operation. Duns re-
view. under date of May 49, last. says:
Business is not what it was a year ago.
but men do not agree in defining the diff
ference. The working force, then increas-
ing fast, is now decreasing Works are
stopping TO relieve excessive output in
manufactures of paper. cotton, wool. leath-
are suddenly reduced for the same purpose
in lead. wire and nails. What seems To
some merely spring dullness.' others
think the beginning of reaction In place
OF the wild speculation in securities which
swelled exchanges year ago, there has
come such liquidation that twenty pre-
ferred industrial stocks have been sold
this week at prices averaging 1914 per
share, though the same stock sold. in
April. last year. for 1866 per share. and
twenty common have sold this week for
double the price
CLASS LEGISLATION.
Whatever may be said about the Ding
ley law. the impartial mind must admit
that it is a most Infamous species of class
legislation and that it has accomplished its
purpose in an eminently satisfactory man.
ner to those who the special objects of
its bounty. The power it confers upon the
foxx che @l.z I@t. sf he fc
phenomenal. 1t is a veritable hotbed for
the breeding and formation of trusts and
combines in restraint of trade and hurtful
to the general welfare.
Never before in the history of this gov
ernment did the people stand in such awe
or the privileged classes as they have un-
der the present national administration.
He Is either blind or insincere, who is not
willing to admit that the course and policy
OF the government, to an alarming extent,
are determined by those made rich and
powerful through the perversion of the
functions OF government.
''Since the Republican party has been
compelled to give some attention to the in
dustrial giants of destruction Ii has devel-
oped through vicious legislation, 1t gravely
informs the country, first, that trusts and
combinations do not have their origin in a
high protective tariff, and, secondly, that
nothing can be done toward saving the
people from further injury in the absence
of constitutional amendment. My friends,
this is plea for delay and an argument to
extend the opportunity for favoritism to
fasten its tentacles more strongly about
the people and their government Under the
Constitution given us by the fathers, this
government has power TO deal effectively
with anything that makes against the Ma
tons general welfare. If il has not this
power, then ii has not the power to live.
Emerson. the patriot, the poet and phi
losopher, uttered a great truth when he
said, Wealth brings it's own checks and
balances D0lifiC9l
noninterference. Do not legislate. NEEDLE,
and you snap the sinewS with your sump-
tuary laws. Give no bounties; make equal
laws. The level of the sea is not more
surely kept than is the equilibrium of value
in society by the demand and supply; ar
tifce or legislation Furnishes itself by re-
actions, gluts and bankruptcies.
The Democratic party shares the senti-
ments of Emerson. and If restored to power
IL will strike down Dingleyism and put up
on the free list every article controlled by
trusts, and If, when the situation shall
thus be clarified, there are still hurtful
combinations in existence. they will be
dealt with through such legislation as will
best conserve the interest of the whole
people.
MONETARY REFORM.
''The fight begun by the Democratic party
in 1896 for monetary reform will never
cease until victory is achieved. The most
effectual and peaceful method yet devised
by the ingenuity of man to reduce peo-
pie to the condition of serfs is to place
their money in the absolute control of
financial spectators, so that its volume
may be expanded and contracted at their
will. Quoting from the work of Mr.. Brooke
Adams on the Law of Civilization and De-
cay, read: 1T appears to be a natural
law that when social development has
reached a certain stage, and capital has
accumulated sufficiently, the class which
has had the capacity to absorb Ii shall try
fN0fr arfxr hrr
legislation. This is done most easily by
reducing the quantity of the currency
which is legal tender for the payment OF
debts
This is a clear recognition of the guam
titive theory of money and that the law of
supply and demand applies to money the
same as ii does to the products of farm or
factory The recent financial legislation or
the Republicn party is in violation of the
Nations tradition and Constitution and
subvertive of the rights of the people. Its
leading provisions commit the government
to the single gold standard; make all ex-
listing bonds and interest or any further is
sue payable in gold: give the secretary of
the treasury the dangerous power, in the
absence of an act of Congress, to issue
per cent. twenty-year bonds to maintain
the gold reserve and authorize national
banks TO issue currency TO the amount of
the par value of bonds deposited The
changing of the peoples contract without
their consent and thereby making the out
standing bonds payable in gold was as vile
a piece Oh leBlSldtiOn as was ever SuB-
gested by Wall-street gamblers or Hanna
banditti The morality of the act would
detract from the character of an 1896 An
archist. If neighbor were to quit his
plow or ditch long enough to execute his
note payable In corn to neighbor B for a
COW, and If b. without the consent of A,
were to alter the note so as to make II pay
able in wheat, there Is not a court in Indi-
ana that would refuse to send Il to the
penitentiary. and yet the act of would
be enthusiastically Insignificant compared
with this monetary act of Congress that Is
said to be representative or the progressive
spirit of modern Republicanism. In pass
ing this act the Republican party has
wholly ignored the claim of the people to
consideration. disregarded the organic law
and judicial decisions and gone contrary 10
the opinions of our best statesmen.
Chief Justice Clifford, of the Supreme