OCR Text |
Show ' THE COSTKACTION POLICY. ! The republican party during the war inflated the currency beyond all reason. There was actually $127.00 per capita money in circulation. At the close of tbewar, when the country was safe, the holders of the bonds of the government, govern-ment, the owners of the securities of the country who looked so eagerly for the time to come when this money ould fall due, began to scheme for a speedy return to a specie basis. That was finally achieved and thia $127.00 per head dropped to lesB than $56 00 per head. The larger figure was not found to be too much money, as the business of this country was arranged, but a still farther reduction was clamored clam-ored for by the" insatiable bondholders. bondhold-ers. They wanted additional profits and there was nothing elee that promised prom-ised a sufficient additional contraction, contrac-tion, so the wicked scheme of the demonetization de-monetization of silver was chosen. That promised to reduce the volume of the money of ultimate redemption a little over one half. This was prom, ieing, but how to accomplish this was the question. Senator John Sherman knew that; to put the public In possession posses-sion of the facts in the case, would be to raise such a storm among the indignant people as that the government gov-ernment would be upBet and the lives of senators and congressmen would pay the forfeit. So like. the wiley, dishonest and unfaithlul man that he iB, it was determined to interpolate inter-polate the demonetizing clause in a general financial bill then pending, where it would not be noticed,and pass It without the knowledge of the people and even the very members of congress and senate who were then voting for the bill. This was actually done and even the president of the United States did not understand the significance of the demonetizing clause jflor sometime after the passage cf the bill. He af ter-wirds ter-wirds declared that had he known its purport he would have cut his arm from the shoulder ere he had sicned it. The awful effects of this law were so grave that for several years, say fifteen, the same republican majority passed a number of bills of a palliative nature bo as to tide over the the worst effects of the reckless act until such time as the patience of the people was so educated edu-cated as that they would stand it. The last act of this nature was the Sherman purchasing act by which 4,500,000 ounces of Bilyer per month were purchased pur-chased for the use of the government. That at last was repealed and the volume vol-ume of the per capita money was re I daced to about $17.00 and it is still I falling as the business is settling into I its wonted channels and adjusting it- I telf to the lessened volume of the i I money of con merce. I All this iB and has been done by the I republican party, as it has been strenu- I ously opposed by the democratic party. I Now Utah needs more money ,to do her I business successfully, than almost any 1 other state of this union. It is curious . T .., ; r how many men there are here who remain re-main blinded these facts and who still propose to vote for their still farther degredation in this way. Arouse, ye honest republicans and vote, for once, to rebuke the dishonest men in your i party who first inflicted this great wrong upon the country. |