The Nebraska independent. (Lincoln, Nebraska) 1896-1902, August 27, 1896, Image 1

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The Wealth Makers and Lincoln Independent Consolidated.
LINCOLN, NEBR., THURSDAY, Aug. 27, 1896.
NO. .12.
r ,
; 1,
Anti-Silrerites Will Have a Hard
Bow to Hoe.
Thoy Recognize, in Vain, the Neces
sity for Argument.
O. P. Davis on Finance.
From the position that great
increase in the production of silver
in the world, just prior to 1873, caused
demonetazion of silver the defenders of
the gold standard, when confronted with
the fact which they now admit, that the
market value of silver was the average
of the legal coinage ratio in all tbe
world, before demonetization, in 1873,
regardless of the amount of production,
and tnat this condition was the same
when the world produced 57 ounces of
silver to 1 of gold as it was when the
world produced 4 ounces of silver to 1
of gold: they began to claim that there
was an overproduction of both the mon
etary metals. They nave conceded a uni
versal demand for silver which always
equaled the product of the world up to
1873, when tney claim tnat over pro
duction of money began to be felt. We
all remember how we were confronted in
that year of depression and panic, with
an over production of everything on
earth but money. I now 'propose to
show by public and impartial evidence
that there was a continued demand for
silver, which consumed the production,
to the profit of all the world except
JNorth America, which was robbed of
one of her greatest products by either
the idiocy or treachery of the govern
ment at Washington.
The question of overproduction of
both metals cannot become one of inter
est so long as the world coins no to the
production of both, and there is still left
in each of the principal nations hundreds
of millions of dollars in uncovered paper
and the largest nation on earth is issu
ing copper for standard money, while
shells and common commodities of the
different countries are used as a medium
of exchange on account of the scarcity
of gold and silver.
With all the conspiracy against silver,
culminating in the act of 1873 by the
United States destroying the double
standard, adopting the gold standard,
limiting the legal tender of silver to 5,
followed by adverse legislation in every
principal country of the world, and the
final blow, by the uncondi tional repeal
of the purchasing clause of the Sherman
act, tbe world coined in 1873 to 1894,
2,131,920,919 fine ounces of silver. You
will find this in the table on page 51, re
port of 1895. On page 50 we find that
the world in the same years produced
only 2,130,397,7UU One ounces or 468,
460,653 fine ounces less than the coin
age during that period. On page 48
vou will find that of this silver the United
States produced nearly 900,000,000 fine
ounces or neariy two-nuns 01 tne entire
production of tbe world, white on page
49 you will find that the United States
coined less tban 4l7,wu,ouu fine ounces,
or less tban half of her production. Tbe
rest oi the world, including Mexico,
'coined 1.715,500,000, or nearly 469..
O00.000 more than they produced. To
do this and at the same time stimulate
the idiocy or infamous course of the gov
ernment at Washington, in bearing tbe
price of silver, its most valuable pro
duction in the market of the world, the
people of all the principal nations de
posited in tbeir mints vessels made of
silver. See answers to questions by rep
resentatives 01 these governments com'
mencing on page 316. 1895 report. Of
this the Paris mint alone coined after
1880 to 1894 nearly 160,000,000 franks
at 15X to 1, while in 1894 gold stand
awl England coined 822,492 pounds
erling value at 14.V2S to 1 at ner Lon
don mint. If the United States bad
cpined the balance of her product at 10
to lit would have covered our uncov
ered paper with full legal tender coin
and forced the balance of the world to
melt the lemainder of their tea pots,
fruit dishes, card receivers and silver
watch cases to supply its mints or buy
silver from us at our own price.
We are informed by the report of the
director of the mint for 1895, pages 40
and 41, that wben he compiled it, what
he is pleased to terra the leading nations
of the world bad uncovered paper aggre
gating 12,469,900,000. Of this uncov
ered paper the United States had nearly
$417,000,000, Russia over $500,000,
000 and the South American states
$550,000,000, while India, by its ab
sorption of silver for a number of years,
in amounts more than equal each year
to tbe highest product of the United
States for any one year, has no uncov
ered paper and no gold, but she. baa
puueu ner per capita up to j.j.zi. in
stead of her 290,000,000 people dump
ing their $3.21 of silver in our mints she
will continue to absorb all she can get
until they have some money to do busi
ness on. She has not been very particu
lar about stamp or ratio, but has taken
the Mexican and every other coinage
without reserve. China is given in the
same table as having no uucovered pa
per, because in answer to tbe inquiry of
our government the Chinaman had no
tatistics to give, but admitted (seepage
30) tnat dib atiu.uuu.uuu people, nearly
e times our population, were well sup-
ied with banks, each of which issued
For the purpose of using the evidence
as the director of the mint gives it, foot
ings and all, I use the twenty-two years
Irom 1873 to 1894, inclusive. Pane 50
shows that the total coinage value, at
our ratio, of the whole world's product
of silver for that period was $2,754,452
900; the average for each year is fill,-
569.5UU. Ihe united states can use it
all for four years in covering her uncov
ered paper. Tbe principal nations of
tne world and tne arts and sciences can
use it all for thirty years without cover
ing the uncovered paper, and without
aiding the copper cash, bronze and shell
countries to adopt a silver standard.
By closing our mints to our silver and
assaulting its value, then waiving our
ngnt to redeem our coin obligations in
silver, we have, by combining legislation
and lawlessness, injected into each of our
540,000,000 legal tender silver dollars
about 45 cents fiat, and temporary de
struction of one-half our primary or re
demption money is one of the results.
A corresponding depreciation of our
principal commodities is another result.
(See Dr. Boetbeer tables.) We thus aid
the nations that have gold to spare to
get from us gold at half price, and to
meet the deficiency in the supply of gold
necessary to carry on this infamous
practice. After selling all the products the
world will take, using all of our boasted
increased supply of food products, we
borrow hundreds of millions, promising
to repay in gold, when we have further
depreciated prices to a point where we
can compete with other and inferior na
tions that work for those who have
brains enough to formulate and courage
enough to maintain a financial policy
of tbeir own. The government coined
and borrowed in these twenty-two years
nearly $500,000,000 more than we pro-
J s a . w . a .
aucea cu goia. 11 ine silver we barred
irom our mints nad been coined into
legal tender dollars at the present legal
ratio, we wouia nave avoiaea these gold
bonds, kept the flat out of our silver,
maintained tne prices 01 our products to
tne stiver stanaara, ana tnat standard
wouiu nave oeen onr legal ratio, we
would nave covered our uncovered out
paper. We would have been solvent
Your stump orators and goldbug
papers say that silver was not demone
tized in 1873, but that in codifying the
coinage laws there is no provision for
coinage of silver included. It was
omitted by accident or design, it matters
not, wnicn, ana tne result was, demoneti
zation.- Any declaration to tbe contrary
is a macnine maae subterfuge and,
repeated for tbe purpose of deceiving tbe
people. Our English brother is more
candid. He sees what he wants and
goes after it. You are not bold enough
to call it by its proper name in this
country; bear the English definition of
tne act:
The proposal of the Paris conference
of I8b7, for a single gold standard, and
a universal coinage on that basis, raised
the question to great prominence. Wol
owski aud others strongly opposed the
recommendation, the former predicting
that a disastrous appreciation of irold
would follow. This . view eeems borne
out by the result, for, although abui-
versal coinage was not created, yet Ger
many ana tne bcanaanaviun union both
changed from a silver to a arold stand
ard, while Holland and the United States
both made movements in the same direc
tion by demonetizing silver and making
E reparations ior adopting gold. Tne
atin nnion at the same time restricted
their coinage, which had nearly tbe same
effect as the adoption of the gold stand
ard." Encyclopedia Britannica, Vol.
XVI.. page 762, Ninth Edition.
Didlthe Bland-Allison, and the Sher
man acts come from tbe friends of silver
or were these acts forced upon them in
form ot compromise, by the English in
fluence in congress."
Ihe crystalized opinion of British
financiers, who bold a larger part of our
obligations, is that we can adopt inde
pendent bimatallism and open our mints
to the free and unlimited -coinage of sil
ver at any ratio we may name, maintain
that ratio and force England to adopt
the same ratio, open her mints to sil
ver, or abandon the commerce of the
world to us, within a few months.
The English financier is no fool.
neither can you appeal to his human
ity. Justice to him is the satisfaction
of his greed for gold. To get it he
does not hesitate to oppress the pro
ducing classes in every way which will
enable him to get their products at
prices that mean slavery to the produ
cer, and opulence and power in tbe finan
cial world for him. He is loaded with
American securities upon which we pay
now a gold interest, which represents
commodities sold by ns for half the
actual value, of which commodities he
is the most extensive purchaser, but
depreciation of those American se
curities will create a panic in Europe
that will close the Bank of England.
He will be the first to rush to the
maintenance of the double standard. In
the language of her greatest financier,
Lord Lidderdale:
If tbe American people had the cour
age of conviction and adopted tbe
double standard of gold and silver, no
matter what the ratio, they would inside
of a year command the tradeof the east,
India, the straits, tbma and Japan.
Unless England should follow suit and
adopt a bimetalic standard, she would
inside of eighteen months cease to be a
commercial factor in tbe markets of the
world. This is the opinion of both bi
metal is ts and defenders ot tbe gold
standard, daily expressed in tbeir public
press. We can force bimetalism now
and free ourselves. We can wait for her
consent which she would be foolish to
give from a financial standpoint, until
we have issued a few hundred milliou
more gold bonds to strengthen our
credit, and made return to bimetalism
impossible, reduced our laboring classes
to tbe gold standard wage, which will
come with permanent gold mo tro metal-
ism, and continue to resolve that we are
the greatest nation on earth, assert tbe
Monroe doctrine in conventions and mes
sages, and continue in slavery. Which
win we aof
The Uuited States, before 1860. pro
duced very little silver, the highest an
nual product being 50,000, but be
tween 1849 and 1860 she produced
$651,000,000 in gold (see table, page
242,) This was more tban one-half of
tbe world's product of gold for that
period, or more than all that the bal
ance of the world produced for that
period. When the balance of the world
saw this heavy percentage of gold pro
duction in onr favor, all that were not
then upon a silver standard hastened to
adopt a silver standard except Eng
land, and she adopted it for some of toe
colonies. (Page 449 to 450, Keporr
In July, 1850, Holland demonetized
the gold ten florin piece, and the Oil
laume. Portugal prohibited any gold
from having a current value except Eng
lish sovereigns. Belgium demonetized'
its gold circulation. Russia prohibited
tbe export of silver, and France was so
alarmed that a commission was ap
pointed to enquire into tne matter.
Evening News: "The cohorts of the
silver octopus had banded together to
strike down gold as money. They plot
ted and conspired," but the money trust
had not then captured Washington,
and there were no statesmen there
who inadvertently committed blunders
worse tban crime.
Any man who would have advocated
tbe demonetization of gold at that time
because tbe balance of tbe world was
trying to shake the power of our in
creased production, by hastening to
adopt as their monetary standard the
monetary metal which it produced and
we did not produce, would have been
ducked in tbe horse pond, then if he per
sisted, restrained as a lunatic In 1801
our gold production began to decrease
and our silver production to increase,
reaching the two million mark in 1861,
the increase was rapid, more than double
for 1862 and quadruple for 1863; march
ing on up it reached nearly thirty-seven
million dollars in 1873. We increased in
population from 23,191,876 in 1850 to
about 40,000,000 in 1873, yet our pro
duction of gold was reduced from nearly
sixty-five million dollars per annum be
tween 1849 and 1860 to about forty-six
million dollars per annum between 1861
and 1873. When the balance of the
world saw this great increase in silver
production and decrease in gold produc
tion in the United States and learned
that we would further decrease our gold
production and increase our silver pro
duction, in tbe estimation of tbeir best
financiers, the principal nations began
, to fall over each other in a stampede
back to the gold standard. The monetary
congress at Paris failed to strike down
silver, and when it was found that the
United States held the balance of power
in that congress, and tha't she refused to
be coaxed or bulldozed into abandoning
her double standard and legislating val
ue out of one of her richest products tbe
holders of her obligations began to take
an active interest in our monetary sys
tem. By intermarriage with the million
aire families of this country tbe whole
coupon clipping race has been solidified,
disciplined and cabled together underone
head, of which Morgan & Co. of this side
are the American representatives. Their
influence has been so potent that it pre
vented the republican administration of
1888 to 1892 giving the people bimetal
ism, though seven-tenths of the republi
can party did then and do now demand
it. It captured the democratic adminis
tration now in power and dictated the
financial platform of the disgraceful com
bination at St. Louis, by which tbe re
publican machine was delivered to it
against the earnest demand of the rank
and file of the party.
On page 355, Report of 1895, we find
that on May 20th, that year, "The lead
ing bankers and merchants of tbe city
of London met at Glyns bank, Lombard
street, Mr. Bertram Currie presiding,
when it was decided to form a gold
standard defense association." Officers
were elected, etc. The gold standard
was not in danger there, but the usual
British interference in American politics
must begin one year before our presiden
tial nomination. Lord Hillindon was
appointed treasurer. How much will he
disburse to protect the gold standard in
this election. O. P. DAVIS.
Io clubs often or more campaign
subscriptions lOo each. No com
mission allowed.
A Well Potted Gentleman Sizes
Situation Up in Missouri.
Mr. W. H. Allen of Clinton, Mo., was a
caller at the Bryan headquarters at the
Lincoln hotel today.
Mr. Alien is a prominent democrat in
his state and was honored by the ap
pointment as sergeant at arms of tbe
democratic convention at Chicago. To
a representative of The Post Mr. Allen
said the growth of the free silver senti
ment among the rank and file of all
parties in his state was very gratifying
to the friends of the cause, and that the
enthusiasm awakened among the
younger element in the state by the nom
ination of W. J. Bryan for the presidency
is unprecedented in the history of Mis
son ri politics.
He paid a high tribute to the char
acter and public service of Hon. L. V.
Stephens, the democratic candidate for
governor of Missouri. He stated that
Stephens' services as state treasurer
have convinced the people of his ability,
integrity and fitness for ..public trust.
Colonel Stephens has been one of the
pioneers in the cause of bimetallism,
being one of the original and ablest
advocates of the free coinage of gold
and silver at 16 to 1 in bis state. Mr.
Allen is a enthusiastic Bryan man and
says that Bryan ior president and
Stephens for governor will sweep Mis
souri with a majority of not less than
fifty thousand.
Tbe Colors Still Float.
The crime of being a young man was
soon outgrown by Burke and Pitt, but
what they said when they were young
has never been ' outgrown. I cannot
speak better praise of two Americans
than to say that William ' Bryan begins
at tbirty-six where Lyman Trumbull left
off at eighty-three. The color-bearer
falls, but forward the colors go. My
ron Reed.
Delirers Ringing Speech with
r . Telling Effect.
Tarns Oat to Hear the Next Presi
dent Speak.
A Gladsome Greeting,
i Alb an if, N. Y., Aug. 26. Ten thou
sand people crowded closely together in
front of the city hall last evening and
listened to nominee W. J. Bryan deliver
a political speech, and although the re
ception was of an extremely cordial na
ture and surpassed in attendance any
meeting which Mr, Bryan has addressed
in the east, it was secondary in general
interest to the dinner givento the dem
ocratic candidate by Senator David B.
Hill in the afternoon. Exactly what was
said , at Senator Hill's residence, or
whether any agreement between thejtwo
leaders ot the democracy was made, may
never be known, as neither gentleman
would speak, but general opiniou nat ur
ally ascribes to the bread breaking an
important place in the political cam
paign. . Mr. Bryan's reception on his arrival in
Albany some hours previously had pre
pared him somewhat for that which was
to come. His train from Rhincliff ar
rived In BaltimoA at 4:05 o'clock.
The cheering that greeted him was like
tne sound of thunder, and again and
again it came, until Mr. Chase began a
few remarks introducing the nominee.
Mr; Bryan said:
"Fellow Citizens: In the presence of
this immense audience, it is hardly nec
essary to announce that tbe presiden
tial campaign is open for business. (Ap
plause.) It gives me great pleasure to
be permitted to address,' even for a short
tin t'je citizens of . 'Albany and its
vicinity. I esteem it a "privilege , to be
defend in your presence, the policies
which I believe will bring prosperity and
happiness to the American people.
"The democratic party at Chicago met
in convention, and there the majority of
the democrats of tbe United States,
speaking through their legally chosen
representatives, laid down a platform
and . nominated a ticket. It is not ex
pected that every person will always find
in a platform all that he desires and
nothing that he does not like. But
when a citizen comes to vote he acts
with that party and indorses that plat
form which gives to him the best assur
ances of securing the most important
things he desires. It is proper, aye,
more, it is necessary, thattbecandidates
ho stand upon a platform shall
indorse the utterances of that plat
form, and I stand before you
to declare in your presence that 1 en
dorse every word of that platform adopt
ed at Chicago. (This sentence was de
livered with great vigor and emphasis
and was enthusiastically applauded.)
But while I do so, 1 expect in this cam
paign the support of many democrats
who are not willing to indorse all that
tbe platform declares for. (Great ap
"We have, then, to consider this ques
tion: Ought the American people sub
mit longer to a gold staudard? (Shouts
from the andieuce of 'No! NoP) The
democratic party has begun a war of
extermination against the gold stand
ard. (Cheers.) We ask no quarter; we
give no quarter. We shall prosecute
our warfare until there is not an Amier
can citizen who dares to advocate the
gold standard. (Loud applause.) They
ask us 'Why?' We reply that the gold
standard is a conspiracy against the
human race and that we would no more
join it than we would join an army
marching to Gespoil our homes and de
stroy our families. 1 ask you not to
take my word alone as to tbe evils of
tbe gold standard. I call as a witness
a gentlemau who has been heard in the
councils ol the democratic party. I ask
you (if you are inclined to accuse us of
using extravagant language) to listen
to tbe following language:"
Here Mr. Bryan quoted at some
length from the speech of Mr. Carlisle on
tbe subject of bimetallism delivered in
Jhe house of representatives some eight
teen years ago.
"That is the language of John G. Car
lisle, aud I believe be spoke the truth.
If if it was true then, it is truetoday,aud
will be true no matter who may cbange
bis opinion or bis course upon this ques
tion. (Applause.)
"If you want to restore confidence
you have got to restore prosperity to
tbe great mass of people and talk as
much about good property as they have
been talking about good money. Mon
ey can be too good. It can be so good
that you can long for it and pray for it
and not get a dollar of it. (Laughter
and applause.)
"1 have asserted, and I assert, that
without the aid of the money owning
class tbe gold standard would not stand
for a day in any nation uuder the sua.
1 assert that behind tbe gold standard
in this country tbe only potent force
consists of those who had fixed invest
ments and those who are brokers, who
provide of carry out greater bond is
sues. "Now my friends, my time is up. I
must leave you to greet other people."
Mr. Bryan then drove to the station
in time to board his train, which left at
8:10 p. m.
Mr. Bryan's trip, via Summit Moun
tain and Hudson, was a series of ova-'
tions. At both places the candidate
made a short speech in a happy vein.
Voters of Raymond are United on W. J
To the Editor I see in your paper the
program ot silver meetings. The success
of these is assured if they are anything
like the meeting at Raymond last Satur
day night. In that vicinity a McKinley
man is looked upon as a sort ot freak.
The Bryanite is the normal thing. Tbe
school bouse was filled with citizens and
farmers who listened closely to the ex
cellent speeches of tbe two O. P.'s, New
branch and Davis. Newbranch made
his maiden speech and the audience evi
dently appreciated it. The people then
listened to some campaign ' songs Irom
the little book, "Sixteen Silver Songs."
Mr. Davis made a strong speech and was
applauded again and again. There was
a call for more music, and the glee club
sang the "Bryan March" to the tune of
"John Brown's Body," while tbe voters
came up and slgued the roll. Tbe mem
bership reached nearly 100. Let tbe
good work go on and the truth be told
about it through the pages ot. your new
paper. It is a little daisy. . Yours for
victory, Bryanite.
General Prentiss Unable to Secure a Di.
Voice from Them
After hearing General Prentiss speak
yesterday one of his auditors, an old
veteran, delivered himself as follows:
"We can forgive Gen. Prentiss for talk
ing politics because he is old and his
tame is , behind him. His work is done.
He cannot divorce himself from the issues
of the past. He doesn't that
parties have changed, that issues have
changed and that the question of seces
sion was settled once for all thirty years
ago. But men of Church Howe's age
should be able to grasp the issues of the
present and rely upon something more
than the prejudices of the past to elect
Major McKinley. The time is past, and
ought to be, when a candidate can be
elected to any office in tbe gift of the
American people simply because he was
on the right side a generation ago. If a
man stands for the enslavement of his
race today his past achievements cannot
lessen their bondage."
Dispute Over a BUI Leads to What
May Be Murder.
Crete, Neb., Aug. 26 About 7 o'clock
last evening George Laramy and J. W.
Jackson, a resturant keeper, became in
volved in a dispute over a settlement
and Jackson stabbed Laramy with a
penknife in the left breast, penetrating
to the muscles of the heart. The injury
is very serious and Laramy is still un
conscious. It is not known yet whether
he will recover. .
Jackson is under arrest and says he
had no intention of injuring Laramy,
that he was whittling and forgot for the
moment that the knife was in his band.
J. B. Hendricks was passing at the time
and was the sole witness.
Banker Church Employs Desperate
Means to Evade Arrest.
Lowell, Mich., Aug. 26. Charles A.
Church, a member of the banking firm
ot Church & Son, which failed yesterday,
this morning shot and fatally injured
his wife, Jennie, and then turned the re
volver on himself and fired a bullet into
his bead with fatal results.
Deputy Sheriff Cowans of Grand Rap
ids was approaching Church's house to
serveawrifon that gentleman, which
was sworn out by the National City
bank of Grand Rapids. Church saw
him coming. He locked the door of the
house, seized a revolver, and shot his
wife and then himself.
Prohibitionists Disconcerted Over the
Rush to Bryanism.
The prohibitionists met in county con
vention this morning and reorganized
by electing H. 1L Hurd chairman; A. S.
Beck secretary. Rev. Roberts offered
The county executive committee was
filled and H. H. Hurd elected chairman.
J. T. Roberts, secretary: John Shuss.
The republican managers are taking
no risks id securing attendance at tbeir
rallies. By means of free transportation
they get together a large number at a
state convention, then advertise a rally.
Now the re-union comes along and
draws thousands in attendance, when
they attempt to turn it into a republi
can pow wow to deceive the people into
believing it is all republican enthusiasm.
The most encouraging reports come
into Bryan headquarters from all over
the country. Clubs are being organized
in every precinct and many republicans
are coming out tor Bryan and free sil
ver. Many moro will come as soon as
they understand that the republican
party machinery left them at St. Louis
and followed tbe golden calf into the
wilderness of error and infidelity.
Former Republican Congressman for
Free Coinage.
A Few Extracts Therefrom Showing
His Sentiments.
Read, Read, Bead.
Below will be found extracts from a
speech delivered by Hon. A. J. Weaver,
representative from Nebraska in the
house of representatives February 27,
1886. The speech can be found in the
Congressional Record volume 17, part 2
pp 1861-1871.
"Mr. Chairman, from expressions of
sentiment already recorded by the rep
resentatives of the people there can re
main no doubt that for once the united
efforts ot the moneyed oligarchy, as
sisted by the executive officers ot the na
tion, will fail to successfully carry out
the conspiracy to double the nation's
debt and paralyse tbe industries of the
country by proposed legislation the sole
object of which is to increase their own
material wealth by making money dear
and all species of property, relatively
cheap.- . ;""C,--t
Think of all the lamentable conee
quenoes, u once consummated, of the
damnable conspiracy to deprive the
common people of this country, in the
sweat ot whose faces the nation has
achieved all her greatness and the con
spirators all their amassed and un
counted millions, ot the only money that
has ever reached the body of the people.
Who has ever eeen gold dollars doing
the business ol the country? Those who
have mingled with the masses and have
knowledge of the ordinary business aud
commercial transactions carried on in
this great country know well that gold
k not the money that keeps alive the
thousand industries that supply bread
for the sustenance and clothes for the .
protection of the millions.
No one sees gold save the favored few,
who, through a failure on the part of the
. 1 1 A. . J A
secretary 01 tne treasury to execute me
plain letter of the law, by Using silver,
absorb all of this money. In defiance ot
the law successive secretaries of the treas
ury have created a class of favored
creditors to whom all the nation's gold
has been and is being paid; and now
when all that precious f coin and metal,
except what still awaits them in the
treasury of the United States, has been
gathered into the coffers of the money
kings, comes the startling advice from
the president and the secretary ot the
treasury to discontinue the coinage of
silver, and the further advice from the
secretary of the treasury to call in the
1346,000,000 of the legal tenders.
Mr. Speaker, I ask in the name of
Manning, and this without a desire to
take this great name in vain, yes,
and in the name of all the illustrious
patriots the present incumbent's im
mediate predecessors who, in willful
disobedience to the solemn enactments
of congress, have been trying to sub
stitute gold for the pallldium of our
liberties (first, before opening the trea
sury door to the golden horse, hav
ing made sure that no one was in
the belly but the priviliged class of
creditors, namely, the bondholders), I
ask, I say, why in this great country
of undeveloped resources, with it mines
of gold and silver sufficient to supply
the people with an abundance of good
money, we should follow in the foot
steps of England and Germany and
lend the lawmaking power of this
country to the aggrandizement and
enriching of the few and to the oppres
sion of the many and the demaraliza-
tion of the whole country? This pro
position to make gold alone the stand
ard is an insult to the intelligence of
all thinking men.
Mr. Speaker, aside from individual,
corporate and municipal indebtedness,
the world's debts, I mean the national
indebtedness amount to 122,885,200,
000, and the interest on this sum alone
at 3 per cent amounts to more than six
times the annual gold product of the
The world's debts of corporations,
states and municipalities amount to
nearly f 12,000,000,000 and private in
debtedness amounts to over $70,000,
000,000, so that the debts of tbe world
national, corporate and private
amounts to more than one hundred
thousand millions, while all tbe gold in
the world is less tban four thousand
millions; hence if all the gold in the world
were at once applied to the liquidation
ot the debts Of the world it would not
pay 25 per cent of the same, and all the
world's annual product of gold would
Continued on Fifth ra.