The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1880-07-24
Alex. stephens ton Ga1-Geld.
NEW Orleans Democrat. /

When the Democrat, some days ago,
published a list of the names of those
gentlemen who had laid claim to the
discovery of Gen. Hancock as a nom
inee for the Presidency it was in entire
ignorance Of the fact that there was
still "another Richmond in the field,'
and that to the infirm-not to say
shadowy-and ancient Georgian, Alex.
81. Stephens, was perhaps due the
credit of bringing the democratic NOM
inee before the country. In lengthy
speech delivered the other day in Au-
gusta he declared that he had been
working for the success of Hancock
for ten years, for eight years earnestly.
He asserted that he knew of but two
men in Congress who were urging his
claims, one being Senator Wallace and
the other himself.
'tEver since that celebrated order
No. 49," said he, ~ have been for
Hancock first, last and all the time. /
know Hancock and will vouch for him
as great soldier and . great civilian.
English is as true to the democratic
principles as the needle is to the pole"
In this speech Mr.. Stephens paid his
respects to Mr.. Garfield, and gave some
very solid reasons for opposing him.
From q synopsis of the speech, made
by the Augusta Chronicle, we extract
the following points made by Mr..
Stephens:
"He opposed him because he thought
he advocated doctrines in Congress
which were ruinous TO this country.
He took an earnest part in demonetiS-
ing silver. This was the great question
of this country. Silver and gold had
been the money of the world from the
earliest ages. From the time that
Abraham bought the cave of Machpelah
for 400 shekels of silver, silver had
been money. From that day down
silver and gold had been regarded as
money by all nations. We have heard
much about the depreciation of silver.
Gen. Garfield and his party were re-
sponsible for it. In 1873 silver COM
manded per cent premium. A rider
to the appropriation bill to demonetize
silver was adopted in Congress. Gen.
Garfield sustained that action. After
that. you conldn't pay debt in silver.
The main cause of the panic was that
more than one-haH of the metal coin
of the world was stricken from the
money list. Everything went up to
the gold standard. The failures in the
country amounted to 100000, 900,
more than one-third Of the public debt.
The demonetizing of silver was the
cause of this. In 1873 Congress passed
law to make half dollars and quarter
dollars. The two half dollars only
weighed 800 grains, standard weight
the standard dollar weighed 4124
grains so that two halves or four quar-
ters were not equal to silver dollar of
the fathers. These coins were called
subsidiary coin, but they were really
clipped coins. There were S35, 000,-
900 of this coin in the country. Last
year poor man who went into a bro
ker's office only got ninety cents for.
his two halves. The coin has been de-
based by the government, and de-
frauded the laboring classes. He was
for the .laboring classes against all at
tempts to defrand them. He had
bill passed that these silver coins could
be redeemed in good money when pre-
sented in sums of $40 and upward.
He did Mr.. Garfield, who was gentle
man, the justice to say that when it
was offered, seeing that it must pass,
he voted for it. Mr.. Garfield was one
of the best of his party. He (Stephens)
would tnrn loose all the minis, and coin,
if needs be, S500,0o0,000 of silver.
He would place it in the wants and
Issue to the people certificates of silver.
All over the world these certificates
would be just as good as the metal it
self. The silver cost something to
transport. 1t would be dollar for dol
lar ali the world over. Some were
afraid of being drowned in food of
silver. This was the last way ne ever
expected to die. Let it Gomez =