Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1900-01-18
CHAMP QARK'S LETTER
Bailey's Speech on the
Financial Bill.
A MASTERPIECE OF LOGIC.
intellectual Successor Of John c.
Calhoun.
A MASTERPIECE OF LOGIC
OPPOSES SINGLE GOLD STANDARD.

Free Coinage of Gold and Silver at
the Old Ratio-A New Idea on the
Subject of Trusts-ExcIusion From
the Mails-Senators Hoar and
Beveridge.
ISpecial Washington Letter.l
Hitherto in these letters | have spo-
ken of the marvellous strength as de-
batter of Joseph w. Bailey of Texas
His great speech on the financial bill
is a new confirmation of the opinion
have long held touching his vast men
tai capacity. He is In our public life
the intellectual successor of John C.
Calhoun his mind is severely logical
His courage. moral and physical. is
above proof He's a Democrat from
cipIes without the shadow Of turning
and without considering the conse-
Quences to himself. He is a man whom
one could follow blindfolded on any
question affecting the welfare of his
party or the honor of his country.
not only admire him for his brains and
learning but entertain for him deep
personal affection. He is only SO years
old. If he lives TO the psalmist's allot-
ment. he will rank with the most Illus
trious statesmen who have adorned
and glorifed the republic.
In the house there is really little
chance for adequate debate, but If
Bailey reached the senate. for which
he is now candidate. where there is
ample time for debate and a wider
field for oratory. | confidently predict
that during his first term he win be-
come one of the leaders of that body.
Such men as Bailey constitute the hope
of Democracy and of constitutional
government.
Food For Reelection.
shall offer no apology for making
up this letter largely from extracts
from that speech being absolutely GER
tain that | could say nothing which
would furnish my readers more sub
stantial food for reflection wish |
had room for it all His splendid ex
ordium was as scathing as anything
know of in the literature of political
polemlcs. Here it is:
s'This bill and the reasons which
have been offered in support Of it ex-
emplify the readiness of our Republic
an friends to abandon their own posi-
tions and to adopt the argument of
their opponents. | remember that
three years ago when one of the most
talented men that ever occupied seat
In this hall. toward the conclusion Of
one of the most splendid speeches ever
delivered on this floor, exclaimed that
the Republican party has not yet de-
clared in favor of a single gold stand
ard,s. he was interrupted by many
voices on that side declaring. And it
never will The Record shows that
| Mr.. Hardy and others responded to
| Mr. Towne's declaration that the Re
publican party had not yet declared in
| favor of gold standard with the con
| fident exclamation. And it never willr
If it had been Mr. Hardy alone,
would not attempt to hold the Repub-
| iiean party responsible for his utter
ance. But 1t was more than Mr.. Har-
/ dy. and it was more than any one or
| two men. If it had been only one 9TH
er, the reporters of the house would
have said Mr.. Hardy and Mr.. -
/ Had there been two or three. they
might have recorded the names of all
/ ~ tla f,,taY.r,.r,tn,.e. h,Yt xrf4h a 6daIifv
to the truth which does honor to the
gentlemen who serve us in the capac-
| ity of reporters. they recorded the in
terruption as by Mr.. Hardy and 9th
ers,' because those speaking were so
numerous they could not .enumerate
them all.
81 am aware that it does not embar-
rass my friends across the aisle to be
reminded of these things. have wit
messed the absolute Indifference with
which they hear our accusations of in
consistency. They declare that they
are ready TO change their position
whenever they change their minds,
and that declaration does credit to their
moral and political courage. But it
Is not cfeditable to their wisdom that
/ they so frequently take a position one
year which they are compelled to aban-
don the next year. | honor them for
being ready to change whenever they
are convinced that they are wrong,
/ but ! am not willing to trust them IN
face of the fact that they find it neces-
sarY SO often to repudiate their most
/ solemn declarations. The fact of It is,
/ Mr.. Chairman, that our Republican
friends have always been SO busy
studying the trend of events that they
have never found time to study the
money question as science. They
know just as much about it-and they
know no more-t today than they knew
four years ago. which was and is moth
ing at all They study events; they
do not study principles. They have
long since accepted the shallow driyel
which some men miscalI maxim
that craftsmanship is the science OF
circumstances. and circumstances can.
not change more rapidly than they
Objections to Cold standard.
Further along he discoursed upon the
causes of the present status of things
as follows:
'Our friends on the other side seem
| to think shat they have completely an-
swered our objections to the gold
standard when they point to the exist
ing good times. and the burden of ey.
cry speech on that side has been that
the prosperity of today refutes the ar.
guments which we made in 1896 Let
us examine that question for a moment
and see how much weight that method
of augmentation ought to possess
/ with intelligent people. Let Us recall
what the issue and the arguments were
then and compare them wth the con
Giitions which exist today. IN 1896 the
Democratic party affirmed that the an
nuaI increase in the production Of gold
was not sufficient to meet the increas-
ing demands for gold and that there.
fore the value or il was constantly en-.
hancing We contended. further. that
as the value Of gold enhanced the price
Of all commodities measured In gold
necessarily decreased and affirmed
thai this was an injury 10 the country
Our friends on tile other side declared
Arst that the low nriees which then