Emerson on Sound Money: A Speech, 1896Emerson, Willis George
History
Emerson on Sound Money: A Speech, 1896
Emerson, Willis George
Currency question -- United States; Silver question
From the same reliable statistics and undoubted authority we find that
wages have materially advanced in this country during the last third of
a century. The increase from the old double standard wages of 1860 to
those of 1890, have been no less than 58 per cent, in money, and 72 per
cent, in purchasing power. This does not look very much like a falling
off. I will admit that the price of wheat has declined and declined
rapidly since 1892, but you must remember that Grover Cleveland was
elected president that year and is still in the White House. Give us
back a protection that protects, and we will not only insure abundance
of labor for all our people, but will guarantee that farm products
generally will command better prices. (Applause).
FELLOW CITIZENS, I EARNESTLY BELIEVE THAT "COIN" HARVEY AND ALL THOSE
WHO ARE ADVOCATING THE FREE AND UNLIMITED COINAGE OF SILVER AT THE
UNJUST AND UNTRUE RATIO OF 16 TO 1, AS A NOSTRUM FOR OUR ILLS, ARE
ADVOCATING A THEORY AS MISLEADING AS IT IS WICKED AND UNHOLY. NO THEORY
MORE FALSE WAS EVER ADVANCED OR CALCULATED TO MORE THOROUGHLY DECEIVE
THE EARNEST, INDUSTRIOUS, GOD FEARING PEOPLE OF THIS NATION.
Let us undo the free trade blunder of 1892 and we will hear no more
about the mythical crime of 1873. (Applause.)
PROTECTIVE TARIFF THE REMEDY.
My friends, a tariff that protects; reciprocity that opens up a
market for our surplus articles from the American farm and the American
factory; a sound currency, and the business confidence which will
follow, are the remedies for the unfortunate condition of bankruptcy
into which the country has been submerged by political stupidity.
THE QUESTION IS SIMPLY ONE OF HONESTY OR DISHONESTY.
Shall thrift and economy be rewarded by robbery? Shall the widow's mite
and the savings deposited in the banks of this country be cut in two
by changing our money to silver monometallism? Shall the two and a half
billions of school bonds from all over the country, held by English and
American capitalists and payable in gold, be doubled, and a double tax
fall upon the shoulders of the tax payers of this nation? Shall the
toilers of this land, the wage-earners on farm and in factory, be robbed
every Saturday night of one-half of their weekly wages?
LABORERS SHALL BE HONESTLY REWARDED.
NO. THIS BLOT OF REPUDIATION SHALL NOT SMIRCH THE UNTARNISHED
ESCUTCHEON OF AMERICAN PATRIOTISM, NEITHER SHALL THE TOILING MASSES
RECEIVE AS THEIR REWARD FOR HONEST LABOR A "MESS OF DEPRECIATED SILVER
POTTAGE."
Public-domain text, read in full here on John Shaqi.
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