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oiaoDciux Sentinel. BRIffl AT NEW YORK. | j 1 i His Speech Delivered at Mad ison Square Garden. j _ j l FINANCIAL QUESTION DEALT WITH , He Defends the Financial Flank of the Chicago Convention—Makes Compari son lletwecn a Gold anil a Gold and Silver Standard—The ltights of -ae Monopolies and the Masses. The following is the speech of Wm. J. lire an, nominee of rh- Democratic party for president of the United States, delivered at Madison Squire garden. New York, before the notification com mittee appointed at the national Demo cratic convention at Chicago: Mr. Chairmen, Gentlemen of the Com mi--. t-and Fell-cv Citizen**: 1 'hall at a fist',:!e day and in a formal letter accept dilation which is now tendered by ideation committee, and I shall at touch upon the issue.- presented platlurm. It is fitting, however, tail titsi.*. in the preface >.f those sctnldeii. i -at .-ouie length in tiit* II liei t J | : j j | | ' j ! : j tl -I. U )*>u wu.cn we | . . - not iiutieresti an- a..-.v entering. Wed; mate the forces arrayed against us. nor j are v- in.n.indtui of the importance of j tl- ggie in which we are engaged; but j re... i g .or succe- - u;ion ti;e righteousness j Of ,r cause, v.e shall defend with ail pos- ! si vigor the positions taken by our J par r. We are tint surjtrisecd that some! of - ■ Op. • :u-tin- absence of better ; nr. in at. resort to abusive epithets, but they rest a-sored that no language, however violent, no invec'ive*. however vehement, will lead u> to depart a single ha.. - i,reu<U:i from the course marked out by t:u-national toiiventiou. The citizen, either public or j.-riv.-.te, who assails the cluir i't--r of the nominees chosen by that c-onv. questions the patriotism of the millions who have arrayed themselves under the banner here raised. It has te-en charged by men standing high ir. business and political circles that our jdat'orm is a menace to private security and public safety: and it lias l«—n asserted that <h*ise whom 1 have the honor for the time '-eing to represent, not only mediate nii attack upon the rights of property, but 'e«§ wan. it. j. ruTAS. are -fhe foes of social order and national honor. Those who stand upon the Chica go platform are prepared to make known and to defend every motion which influ ences them, every purpose which animates them and every hope which inspires them. They understand the genius of our insti Btntions, They are staunch supporters ol the form of government under which we live and do build their faith upon founda tions laid by the'fathers. Andrew .Tackson has stated with admirable clearness and an emphasis which cannot lie surpassed, both the duty And the -sphere of government. He said: "Distimftions in society will always ex ist under every just government. Equal ity of talents, education or of wealth can not be produced by human institution*?. In the full enjoyment of lhe gifts of heav- n and the fruits of superior industry, econo my and virtue every man is equally en titled to protection by law." We yield to none in our devotion to thi doctrine just enunciated. Our campaign has not for its object the reconstruction o! society. We eannot insure hi the vicious the fruits of a virtuous life: vve would not in vail e the borne oj the provident in ortlei to supply the wants of the spendthrift wc donot propose to trau-f-r the rewards of industry to the lap of indolence. Prop erty is, and will remain, the stimulus tc endeavor and the compensation for toil. e lielievc. as asserted in the declaration of independence, that all men are created equal: but that does not mean that ah men are, or can have equal possessions it positions or merit: it means that all shaT stand equal before tlie lav*. and that gov ernment officials shall not. in making, con struing or enforcing the law, discriminate between citizens. I assert that property rights, as well at ■ the rights of persons are safe in the hands I of the common people. Abraham Lincoln, in his message sent to eougn ss in Decem ber. IStil. said: "Xo men living are more worthy to b* trusted than those who toil up from pov erty; none less inclined to take or touch aught which they have not houestlj j earned. ' 1 ----- : I repeat his language with unqualified approval and join with him in the warning. ^ he added: "let them beware of surrender ing apolitical Dower which thev alreadv t ¥ nn.^n.i M l ■ i t y ,, j 5 ^^?i WhK ^7 er '" surrendered, willsurely be used to close the doors of ad van cement against such as they and to fix new disabilities and burdens upon them until all of liberty shall be lost." Those who dailv follow the ininnetinn "ir. c ™„„, a, r v„i 1 ^Yi. nCUOn i bread " are^nw f *i the^er^™^ U ^ " "eyJ VCT beentt* bulwark of law and order-the source ol ances—let me givt )uu til* oiuoumuu: "Bat when the laws undertake to add tc those natural and just advantages artifi eiai distinctions—to grant titles, gratuities and exclusive privileges—to make the rich richer and the potent more powerful—the humble members of society, the fanners, mechanics and the daylaborers—who hart neither the time nor the means of securina like favors for themselves, have a right tc platform indorse all of the quotation from Jackson—the latter part as well as the former part complain of the injustice of their gov ... meat." Those who support the Chicago j We are not surprised to find arrayed against us those who are the beneficiaries cf government favoritism—they have read ! our platform. Xor are we surprised zc learn that we must in this campaign face ! the hostility of those who find a pecuniary advantage in advts.ating the doctrine of j noninterference when great aggregations , of wealth a.e trespassing upon the rights j of individuals. We welcome such eppo- ! sition, it is the hi-gue-t endorsement which couid be l>esTowed upon us. We are eon-i teut to liavi-tie-:.«p* ration of those who! desire to overcome -.he government admin- 1 istration witbout fear or favor. It is not * the wi-h of the great public that trusts ! • hou hi spring into existence and override! the weaker members of -wiety; it is not the wish of the general public that these trusts j should destroy c<>mi**tition and then col- j lect such taxes as they will front those who | an- at their mercy, nor is it the wish of tin ... llevc that ti j general public that the instrumentalities of government have been so often prosti tuted to purposes of private gain. Those who stand upon the Chicago platform tie govermueut should not only avoid wrongdoing, but that it should also prevent wrong doing: and they believe that the law should be enforced alike against all enemies ot :h: public weal. They do not excuse jietit larceny, but they declare that grand larceny is equally a crime: they do not defend the oec ipation of the high wayman who robs the unsuspecting trav eler. but they include among the trans gr-s-ors those who. through the more po lite and less hazardous means of legi«ia tiou appropriate to their own use the pro ceeds of the toil of others. The command mem "Thou shalt not steal." thundered from Sinai and reiterated in the legislation of ail nations, is no respecter of persons. It must lie applied to the great as well as the small; to the strong as well as the weak; to the corporate per-on created by law as well as to the person of fiesh and blood cre ated by the Almighty. It follows as a necessary conclusion that vicious legis lation must be remedied by the people who suffer from the effects of such leg islation and not by those who enjoy its lienefits. The Chicago platform has been con demned by some liecause it dissents from an opinion rendered by the supreme court declaring the income tax law uneonstitu tional. Onr critics even go so far as to a{e ply the name anarchist to those who stand upon that plank of the platform. It must be remembered that we expressly recog nize the binding force of that decision so long as it stauds as a part of the law of the land. There is in the platform no sugges tion of a plan of an attempt r o dispute the authority of the supreme court. The par ty is simply pledged to use "all the consti tutional power which remains after that decision or which may come from its re versal by the court as it may hereafter be constituted." Is there any disloyalty in that pledge? For 100 years the supreme court of the I'nited States has sustained the principle which underlies the income tax. .Some JO years ago this same court sustained, with out a dissenting voice, an income tax law almost identical with the one recently overthrown. Has not a futnre court as much right to return to the judic>tl precedents of a century as the pres jS court has to depart from them* When courts allow rehenrings they admit that error is possible. The late decision against, the income tax was rendered by a majority of one after a rehearing. While the money question overshadows all other questions in importance, I desire it distinctly understood that I shall offer no apology for the income tax plank of the Chicago platform. The last income tax law sought to apportion the burdens of the government more equitably among those who enjoy the protection of the government. At present the expenses of the Federal government, collected through internal revenue taxes and import duties, are especially burdensome upon the poorer classes of society. A law which collects from some citizens more than their share! of taxes and collects from other citi -1 zens less than their share is simply an in ; cause they were not compel led to pay a to-! tal Federe. tax greater than their direct means of the transferring of oi'< man's property to another man's pockt : and while the process may lie quite satis factory to i he men who escape just taxa tion. it can never be satisfactory to those who are overburdened. The last income tax law with its exemption provisions, when considered in connection with other methods of taxation in force, was not un just to the possessors of larte incomes he , . . share, lhe income tax is not new, nor is based upon hostility to the rich. The system is employed in several of the most' important nations of Europe and every in come tax Law now upon the state book a decision of the supreme court — any land, so far as I have been able to as certain. contains an exemption clause. hile the collection (if an income tax in other countries does not make it necessary for this nation to adopt the system, yet it ought to moderate tbe language of those who denounce the income tax as an assault upon the well to do. Not only shall I re fuse to apologize for the advocacy of an in- j come tax law by tbe national convention.! but I shall also refuse to apologize for the , exercise by it of the right to dissent from In a gov j ernment like ours everv mil.lic offici-dls »' public servant whether he holds office hv! elST « bv Sri 1 h ? £ for a , teLi Tve irTnr 1,^,. i, uin T?v S E J dunmrgood; behavior, and the people have a right tc criticise his official acta. Confidence is everywhere the parent of despotism • free government exists in iealousv and not in c i . ™ 1 °.^ loam 7 "l, pot in JefferLn^d ^ of Tho "" ~ etfeTmn "" f AHomit that they present a truer conception of popular government j H 1 * 11 entert » inwl by those who would pro-; hiiiit an unfavorable comment upon a court of decision. "Truth will vindicate ib thoee whom he aerwnTtEe right to ifiscuss his official conduct." The Hoatf Qeeettee. Now let me ask you to consider the par amount question of this campaign—the money question. It is scarcely necessary to defend the principle of bimetallism. Xo national party during the entire history of the United States has ever declared against it. ami no party in this camp; ' .—.. ........ . .. has luiu the temerity to oppose it. Three parties, the Democratic. Populist and Sil ver parties, have not onlv declared for bi metallism, hut have <intlined the specific legislation necessary to restore silver to it ancient position by the side of gold. The Republican plat form expressly deciar* ' -that Mmer.-i'.' «U.-;ruble v.'„. .i n idedges tite Republican party to aid in se -tiring it as si am as the assistance of cer tain foreign nations can he obtained. Those who representiil the minority sentiment in the Chicago onnveiuion opus sed the free - oi .uure of silver by : he United States by i:v.:**:iendent action on tin* ground that in tln-.r judgment it "would retart! orentire ly prevent the establishment c.f interna tiomU bimetallism to which the efforts of the government should be steadily tli It- ted." When they asserted that the efforts of ^government should lie steadily directed toward the establishment of international WmetalHwn they condemned monomrtal l** !1 h .^1*' "old .-tnn-tar-i has l»et-n weighed The in the balance and found wanting, front i- the powerful support of the money owning and money-chen.g-ng classes and it cannot stand for one day in any nation in the world. ,t was fastened on the liiited States without discussion liefotvthe people sial its friends have never yet been willing to risk a verdict before the voters upon that issue. There can be no sympathy or coopera tion between the advocates of a universal gold standard and the advocates of bimet alusm. Between bimetallism, whether independent or international, and the gold standard there is an impassable gulf. Is this quiulrennial agitation in favor of in ternational bimetallism conducted in good faith, or do our opponents desire to main tain the gold standard permanently? Are they willing to confess the superiority of a double standard when joined in by the trading nations of the world, or do they still insist that gold is the only metal suit able for standard Bionc-y among civilized nations? If they are, in fact, desirous of securing bimetallism, we mav expect them to po ; nt out the evils of a gold standard and defend bimetallism as a sys tem. If. on the other band, they are bend ing their energies toward the permanent establishment of a gold standard under cover of a declaration in favor of interna tional bimetallism, I am justified in sug gesting that honest money cannot be ex pected at the hands of those who deal dis honestly with the American people. What is the test of honesty in money? It must certainly be sound in the purchasing power of the dollar. An absolutely honest dollar would not vary in its general purchasing power: It would be absolutely stable when A dollar Jneasured bv average pricek. —*-*-*- --- ' • • which increases in "purchasing nower is just as dishonest as a dollar which de creases in purchasing power. Professor Laturhli'n now of the T'ni versitvof Oiicago. and tmeoft he highest bimetallism not only admits that gold does not remain absolutely stable in value, but expressly asserts that there is no such thins *** a standard of value for future payments. either in gold or silver, which remains absolutely invariable. He even suggests that a multiple standard wherein the unit is based upou tbe selling price of a number of articles of general consnmp tinn "would be a more just standard than either gold or silver or both, because a longtime contract would thereby be paid at its maturity by the same purchasing power as was given in the beginning." It cannot be successfully claimed that monometallism or bimetallism or any oth er system rives an absolutely just standard of value. Under both monometallism and bimetallism the government fixes the weight and fineness of the dollar, invests it with legal tender qualities and then opens the mints to its unrestricted coinage, leav ing the purehasirig power of the dollar to be determineil by the number of dollars. Bimetallism is better than monometallism, not because it give* us a perfect dollar— that Is a dollar absolutely unvarying in its general purchasing power—but "because it makes a nearer approach to stability, to honesty, to justice thau a gold standard possibly can. „ mu earned increment the influence of this great nation must not be thrown upon the side of gold unless we are prepared to ac Prior to 1873. when there were enough open mints to permit all the gold and sil ver available for coinage to find entrance into the world's volume of standard money, the United States might have maintained a gold standard with less in jury to the people of this country- but now, when each step toward a universal gold standard enhances the purchasing power gold depresses prices and transfers to the pocket of the creditor class an un cept the natural and legitimate conse quence of such an act. Anv legislation which lessens the world's stock of standard money increases the excangeable value of the dollar: therefore the crusade against silver must inevitably raise the purchas ing power of money and lower the money value of all other forms of property. Our opponents some times admit that it was a mistake to demonetize silver, but insist that we should submit to present " tUrn l ° the that we hav They err in supposing evil ip! —— ...... reached the end of the c ».i results of a gold standard: we have not reached the end. The injury js a continu °us one. and no person can say how long ^Le world is to suffer from the attempt_to interested ness for themselves have appeal ed to the selfishness os nearly everv cLiss of people. Recognizing the disposition of t * le individual voter to consider the effect 2? proposed legislation upon hinisi-lf make gold the only standard money. ' The same influences winch are now operating to destroy silver in the United States will if successful hero, la- turned against other silver using countries and each new con vert to the gold standard will add to the general distress. So long as the scran:file for gold continues prices must fall, and a general fall in prices is but another defini tion of hard times. Our opponents while claiming entire dis xli * ' ' w .V* the American people the fi .outlined in the Chicago pkuform believing that it will result in the , ^ 10 the tuber, The farmers are opposed to the gold standard be cause thev have felt its effSra. Since thev sell at wholesale and buy at re ha^e lost more than thev have « ain 2 d falling prices and besides this they have found that certain fixetl charges b»ve not fallen at alL Taxes have Sot been perceptibly decreased, although per ceptioly increased, although it requires more ol farm prodneta now than foroierlv to secal ^ the money with which to pay Debts have not faUen. The farmer '3®^^ssSAiais which tonav the deht^ H*ili-n«i| rate* hav* j j i : not iieen reduced to keep pace with falling prices. Reside these items there are ms: more. The <armer has thus found com plaint nizain*: the gold standard. The wagei-at tiers have been injured by a gold standard and have expressed themselve- on the subject with great empnas:-. In February, lsifl, a petition asking for the immediate restoration of the free and un limited coinage of gold and silver at 3fi t«> 1 was signet! bv the representatives of all or tiearlv all the leading labor organiza tions and presented to congress. Wage earners know that while a gold standard raises the purchasing power of the dollar it also makes it more diflRctit to obtain liossession of the dollar: tbey know that employment L lc*s permanent. los~ of i work more probable and reemployment ! le-s certain. ; A cold standard encourages the hoard ing f money la-cause money is rising: it also discourages ent e r p r is e s and paralyzes industrv. On the o.'her hand, tbe restora tion of biiiK Uillism will discourage hoard ing. because when [-rices are steady or ris ing. money cannot afford to lie idle in the j bank vaults. The farmers and wago-nro ; ers together constitute a considerable me. , joritv of the Jjeople of the country. Whv j should their interests be ignored in con-;.} ' ering financial legislation? A monetary ; sy-:< m which is pecuniarily advantageous , to a few syndicates has far less to cont I mend it than a system which would give j hope and encc uragement to those who cre ate the nation's wealth. ■ >ur ot'iMir -iits have made a special are teal to \Lose who hold tire and life ius-:r . nee polities, but these policy holders know that since the total premiums received ex ceeii toe total losses jiaid. a rising stanfLird must Im- of more Ix-nefit to the companies than to the policvholders. Much solicitude has been expressed by our o; orients for tie- depositors in savings banks. They constantly parade before tbese depositors the advantages of a gold standard, but these appeals will be in vain, because savings bank depositors know that under a gold standard there is increasing danger that they will lose their deposits, because of tbe inability of the banks tocol lect their assessments: and they still know that if the gold standard is to continue in Icfluitely they may lie compelled to witn Intw their deposits in order to pay living . xpenses. it is not ouly necessary' to note the increasing number of failures' in order *;> know that a [rohl standard is ruinous to merchants and manufacturers. These iiusiucss nit-u do not make their profits from the people from whom they borrow money, but from tbe people whom they tell their goods. If the people cannot buy retaiieis cannot seli, and tbe if retailers cannot sell, wholesale merchants and man facturers must go into bankruptcy. Those who hold as a permanent invest meat the stock of railroads and of other enteqiriscs—I do not include those who speculate i:i stocks or use stockholdings as a means of obtaining an in-ide advantage in constructing contracts—are injured by a gold standard. The rising dollar de stroys the earning power of these without reducing their liabilities, and as dividends cannot be paid until salaries and fixed charges have been satisfied, the stockhold ers must bear the burden of hard times. Salaries in business occupations depend upou business conditions, and the gold ;H !Ildar ' 1 1, ' stns Rbe amount and f Lr «Wfns the perquiueucy of such salar L sa , l ? n S' esce P l the claries t " osfe who hold office* for life, must in t h'- lo ngr U u iie adjusted to the conditions of the coiuJ-- -_____tinuos we moat expect ta^eav rto nire^m *** ** ^ T b ^ ^profet^ional m the maiu de 5! e Uielr , ^ U PP°^ the producing classes and can ouly enjoy prosperity when *, *'^ 18 ,V, I ' us H?ci t y among those who cre d f 0 ***" t ie < "F e ? t Hi* standard upon l n 1 have only had time to & will be priuciples stated to bis own occupation. It must also be remembered that it is the desire of the people gee rally to con vert their earnings into real or personal property, this being true, in considering any temporerv advantage which may come from a system under which the dollar risw in its purchasing power, it must not be forgotten that tbe dollar cannot buy more man formerly, unless property sella for less than formerly. Hence it will be seen that a large portion of those who find some pecuniary advantage in a gold stand ard will discover that their losses exceed their gains. It is sometimes asserted by our oppo nents that a bank belongs to the deotor class, but this is not true of any solvent bank. Every statement published by a solvent bank shows that the - ptiWu the liabilities. That is to aay, while^he bank owes a large amount of money to its depositors, it not only haa enough on hand in money and notes to pay its depositors, but in addition thereto haa enough to cover its capital and surplus. When the dollar is rising in value slowly abauk may by making shorttime loans and taking good security avoid losa, but when pricre are falling rapidly the bank is apt to lose more because of bad debts than it can gain by the increase in the purchasin'' power of its capital and sur-plus. It must lie admitted, however, that some bankers combine the business of a bond "broker with the ordinary banking busine^ and these may make enough in the nego tiation of loans to offset the losses arising in legitimate banking business. As long as human nature remains as it is there will always be danger that unless re strained by the public opinion or legal en actment those who see a pecuniarv profit for themselves in a certain condition may yield to the temptation to bring about that desire. Jefferson has stated that one of the main duties of the government is to prevent men from injuring one another arid never was that duty more important than it is today. It is not strange that those who have made a profit bv furnish ing gold to the government in the hour of ,,a «trerniry favor a financial policy which will keep the government depend ent upon them. I believe, however, that I speak the sentiment of the vast majority of the people of the United States \vh fcn 'I say that a wise financial policy adminis tered in fa-half of all the jiedple would make our government independent of any combination of financiers of foreign or do mestic. Let me suv a word now in regard to cer tain persons who are pecuniarily benefited Irv a gold standard and who favor it. not from a desire to trespass on the rights of others, but because the circumstances which s-urround them blind them to the ef fect of the gold standard upon others t shall ask you to consider that language of two gentlemen whose long publif service Ending in the party to which they belong Will protect them from adverse criticism by our opponenta. In JNTj Sena toro hernuin said: "The contraction of the currency is a far mure distreanng opera tion than senators suppose.'' o£ r V wn and other nations have gone through that operation before. It ia not possibleto take that voyage without the every person, exept a capitalist out of debt. °? oer annuitant, it is a nenod of las, danger, laaaitude of trade faH -fit-gag? jnwwnsbm jjf. ente rorire (Continued on page &) HKW A 1 'VEKKTISMK\Ts' MNDERCORNS t—t Ts'iig.f ejirr 1^. PARKER 7 , HAIR BALSAM Onma ini hwatfm th* ^1 InvaoMi ft tsxarant IhT" to B «torT^ Hytn wCOPJ5U!^PTiVE Iadiee*?;i.iL 1 vs. .1 i 1* r- i-biijtT ot 5 PABKEIT8 OINOEK TONIC. Tuv wbo wwi! feMnad L*r v ng-uu*! LailtL bfUav ?r-p- , TO.<13 •. - ' v "-- ••• ,, r -£. A 13 S&SSt PAr.;:L,. ibtki l*uag Tijac.-! iti.izu: i*.a, cr.4 : *r*^n*vt fieri- r«r~ *> - r l > Cl T seugcl Pol; ~ul Paiot. ' J —iflE, I [ j • - M iif Mart H Tb«-in>»w« o m .Zl ws:. atclJa. f«a. Xs.: vs...; ,a; ..,U - i.t Hr ta% BOARD /. '-D LODGING AT REASON 11 "*alac. iUf far L«<f IKWiW ' t<r ;»/i*o« H. N. Coulon, NOTARY PUBLIC] M A J!K J< 'j > 2 HJEE i TIIIIIOIU3 H. B.A. x. i'll tun. WELCOFAE house LEBLANC <t BOBET FHCFBIZTCHS. FINK WINK s. Llgruii.^, CKiAltd : ON ABLE RATES. J.OCKIORT M -NAME ON| EVERY PIECE" t'f'? 4^ •rm JOWNEY'S Chocolate Bonbons* FOR SALE BY Thibodeaus Drug: .Mftif.l FRANK BARKER. (StCCESSOH TO BARKER A 8EV1S.) Commission Merchant,! AND DEALER IX ALL KINDS OF COUNTRY PRODUCE*! dWCOTTON, Sl'GAR, MOLASSES, SICK POTATOES, EGGS, HoNET. BEES WAX, TALLOW WOOL, HIDES. MOSS, POULTRY, ETC. NO. 11 i> OEC A TV it ST&r.K NEW ORLEANS, LA. 4SrLIBERAL ADVANCES MADE ON ft MGSMES51 J. LOUIS ACCOIN \ + f % | !♦ FURNITURE ? ;lj ci all kind..| | ♦ PAINTS, I X HARDWARE, 56 ♦ — | * UKDERTAKERS' Material etc J MAIN ST REE'S THIBODAVn. LA. T. V BEKOKKOV BOURG & BERGERON Market Stand, MARKET ST„ THIEODAUX, LA. -ALWAYS OX HASH THE_ BEST OF BEEF, MCTTt N, TtiRK. VFA and sal sages of all kinii> GOOD \K\VS. Witli a vicr.- «■( e-largin ; li, w town oi L- k port. I n«Vi* .hvicrt my tin--mnl! nl mt umn meMtimig five i»r|ieru. I rout on Bo >u La ffctirche, itttiafeil betveen I kp^rt and the Catholic Cimridi, iuio town lots, which «rc oifered for Person* ilei-iring to btiv and to locate in that beanfitn] villntje sliounl write ft call on o® for full particulars. K BARILLEAUX.