The Atlanta constitution., 1900-08-27

I IOlelgn maTktI
of the tariff and since he produces mer.
i chandise and not money. ne does no'
i profit by :he appreciation OF tne ~ ~uolihi'
J He knows that the lnuch-Vaunted pros
! perity, of which he has never had MS
/ share. is on the wane in spite or the ui,-
| usual and unnatural stimulation Whlch A.
| has received during the last three yeals,
4 He knows that each month OF 1870 SHOWS
| a larger number of failures than the cor
| responding month of 1898, and that there
| Is already marked tendency toward u
decrease i'm the output of the factories.
| lie knows also that discoveries OF Solu'
| famines abroad and war on three col,i-
! nents. have not been able to raise tIe
| price of farm products as rapidly as trusts
| and combina tions have raised the price
of things which the farmer buys. -.
annas 1ur ohoiS.s ,hs, nEe ineconsistent when we
| desire general rise In prices ana YET
oppose an arbitrary rise i'm projected man n
| ufactures or trust-made goods 1heIo
! Is no conflict whatever between these TWO
| propositions. If a general rise In prices
| occurs because of a permanent increase IN
the volume of money. all things adjust
| volume of money then, Increases in pro-
| portion to the demand for money, tne
| price level remains the same ana nusl-
| ness can be done with fairness to all. ,
If however,, the rise Is arbitrary ana
only affects A part of the products of Ia
| bor. those whose products do not partlcl-
| pate in the rise suffer because the pur-
| chasing power of their income is decreas-
| ell. If bad monetary system draSS
down the price of the farmers product.
| while monopolies raise the price of what
| he buys. he burns the candle at both ends
| and must expect to suffer in comparison
with those who belong TO the classes
| more favored by legislation.
For the Work of Reform.
It is sometimes urged by partisan pop
| ullsts that four years more of republican
! misrule would so aggravate economic con-
| ditions as 10 make reforms easier. no
one can afford to aid in making matters
! worse In the hope of being able to make
| them better afterwards. for in 50 doing
| he assumes responsibilities which he may
| not be able to remedy. No popuiist'
! however sanguinc. believes 1t possible 10
| elect a populist president at this time, put
the populist party may be able 10 de-
termine whether democrat or repuo-
ncan viii be elected.
| Mr.. Chairman. the populist convention,
| which your committee represents. thought
/ II better TO share with the democrats IN
| the honor of securing some of the reforms
| desired by your party, than to bear the
| odium of remaining neutral in this great
crisis. or of giving open or secret aid 10
the republican party which opposes an
the refcrTcs for which the populists con-
| tend.
Those who labor to improve the condi-
| tions which surround their fellow men
/ are ant to become impatient. but they
must remember that IL takes time 10 work
out taeSe reforms. Let me illustrate Dy
! calling your attention to the slow growth
of public opinion in support OF u pFht1-
sitiOn 10 which there has been pract0uly
! no open opposition. President Johnson;
! in lSGS recommended constituuohai
onendr7ert proVsding for the election of
/ United States senators hV direct vote ol
the people but his Recommendation hcl
with no response. Anout tWelNe yciaIs yiIs
| later. General Weaver then mcmber
! OF congress tried 10 secure the passage
| OF "a resolution submitting such an amend,
mcnt but his efforts were futile. IN I''@
I the resolution recommended by president
I Johnson. and urged 10y Congressman
Weaver finally passed the house OF rep
| rcseutauVes. but has not Yet reached
/ vote in the senate. cnd now after eleht
| years more of public discus ION the prop
/ Csition for the first time received tie m
Z dorsement or the national convention OF
l on of the great parties.
ID The fusion forces win a victory this
! FAM. we shall see This reform accomplished
4 hefora the next presidential election,
and with its accomplishment, the people
will ind il easier To secure any remedial
/ legislation which they may desire But
/ how haltins has been the progress! Hol-
/ land has said;
| Heaven is not gained by single bound.
We build the ladder by which we rise,
From The lowiy earth to the vauited
And W. mount to its summit round by
round"
And SO it is with great social and polit-
/ ical movements.
Great problems are solved slowly. but
struggling humanity marches on step by
1 step. content at each night fan, it can
pitch its tent on little higher ground.
Some New Questions.
/ have called attention 10 the issues
which brought the democrats and popu-
I lists together and which justified the CO.
I operation during the last four years. Let
me now invite your attention TO new
questions which would Justify co-opora-
/ tion at this time. even though we DIFF
/ fcred upon all economic questions. IL is
not our fault that these new questions
/ have been thrust into the arena of poll
/ tics. IL is not our fault that the people
1 have been called upon to consider Ques-
| tions OF ever-increasinE magnitude
/ In 1880 the tariff question was the prin-
/ cipal subject of discussion and the dem
I ocratic party contended that the ma sses
were carrying burden of unjust and
/ unnecessary taxes. in 1892 the tariff ques-
ton was still the principal issue between
! the democratic and republican parties
I although in the west and south the
| money question was assuming greater
/ and greater proportions and the pOpuiiStS
We're contcnding that our monetary sys-
] tern was more responsible than the tariff
| laws for the depression in agriculture
! and the distress existing among the wage
/ Carncrs IN 1896 the whole question Of
( taxation became Of secondary Importance
because of the increase boidnCSS of those
/ who opposed the gold and silver coinage
OF the constitution. When the ropub-
| licans declared at St. Louis that the
restoration of bimetailism i'm this coun-
try. although desirable was imuOSsibln
without the aid of the leading commercial
| nations of the world. the populists and
Z silver republicans Joined with the demo-
Gratis in asserting the right and duty
of the American people 20 shape -their
| financial system for themselves, regard
less of the action of other nations. The
failure OF the republican party to Sc
| cure international bimetallism and its
/ own espousal of the gold standard still
| keep the money question in play, but no
economic question can compare in i'm
/ pOrtance with a question which concerns
/ the principle and structure of govern
! ment. Systems of taxation can be
! changed with less difficulty than fnan-
| cial systems, and financial systems can
| be altered with less danger and less dis
| turbance 10 the country than the vital
I principle upon which free government
I rests.
A Colonial Policy Dangerous.
In the early sixties. when we were en-
/ gagged IN a contest which was to deter
/ mine whether we should have one re-
| public or two, questions of finance were
/ lost sight %. Silver was at n premium
! over sold. and both gold and silver
/ were at a premium over greenbacks and
bank notes. but the people could not
afford to divide over the money question
| i'm the presence Of a greater issue. And
| so today We are engaged in controversy
| which will determine whether we are
to have a republic in which the govern