Hutchinson gazette., 1901-04-11

The San Francisco Call, speaking OF
the action Of Senator Dubois ana othef
silver republicans In Joining the dem
ocrntIc party takes occasion TO MIS-
represent the position Of Abraham l'lh'
coin on tho silver question: IL says
"rhe meBsageD and writings or Mr'
Lincoln prove him TO have beon the
predecessor OF Mr., Cleveland In declAr"
Ing the principles Of sound money,
which Mr., Cleveland made the pole
star OF his administration. Both Ian
coin and Cleveland stood exactly IN
line with Jefferson and Jackson on the
issue Of sound money"
II also denies the right OF the silver
republican to claim any Mnship with
Lincoln or his principles, IL Is not
strange that the gold standard papers
attempt to dlstort history, for they are
compelled to do 30 In order 10 ilnd any
support for their financial theories
Jefferson believed that the money
unit Dhould rest on the two metals.
gold and silver; while Mr., Cleveland
believes that the money unit should
rest on one metal, gold, Jackson az
fixed his signature to the Dill when
provided for tho free and unlimited
coinage OF gold and silver at the legal
ratio of sixteen to one, without walt
ing for the mid or consent OF any
other nation, and In changing the ra'
ito from fifteen to one, to sixteen 10
one he reduced the size OF the gold
dollar. Mr.. Cleveland Is the leader OF
those democrats who are opposed to
the coinage OF silver Into legal tenner
money at any ratio or under any cir
cumstances, :,
Raymond's life Of Lincoln, published
soon after the death Of President LIN
coin and before the republican party
began to crusade against silver repro
duoes message which Lincoln sent
TO tho miners Of the west, The fol'
lowing Is an extract from II;
"Mr. Colfax: ! want you to take q
message from me to the miners whom
you visit, l have very large IDEAS
OF the mineral wealth OF our nation |
believe II practically inexhaustible, IL
abounds all over the western country,
from the Rocky mountains to the Pa-
clhc( and It's development has scarcely
commenced, During the war, when
we were adding couple OF millions
Of dollars a day TO our national DEBT,
did not care about encouraging the
increase in the volume of our precious
metals. We had the country to save
nrst. But now that the rebellion Is
overthrown, and We know pretty near
ly tho amount of our national debt,
the more gold and silver we mine, we
make the payment OF that debt so
much tho easier"
II will be seen from the above that
Mr. Lincoln held to the quantatiVe
theory OF money--a theory denied ny
the republicans in the campaign OF W.,
1t will also be seen that he was WILL
| ing to make the payment OF the ma
tional debt easier by increasing the
amount Of money, while Mr.. Cleveland
tried to make the debt harder to pay
by decreasing the volume Of money.
On the subject Of paper money also
the silver republicans are In line with
the early statesmen and opposed to the
latter day policies Of Mr., Cleveland
and the republican leaders, Jefferson
was opposed to banks Of issue, state
or national; Jackson made the greater
part of his reputation by his fight
against the recharter OF the national
bank; and Lincoln signed the bill
which provided for the greenback'
Jefferson considered the issue OF paper
money function Of government and
insisted that the banks should go out
the business Of governing, Mr. Cleyo-
land considers tdle issue of paper mon
ey function Of banks and believes
that the government should go out or
the business Of banking.
Lincoln assisted in establishing the
national bank In order to furnish q
market for government bonds during
tho war; now tho republicans are re-
tiring the greenbacks In order to give
the banks u chance to issue more pa
per money.
Senator Teller, Senator Dubois, ex-
Senator Towne and the other silver
republicans are adherlng to doctrine
which in former times was republican
as we'll as democratic. The republican
leaders and gold democrats are the
revolutionists