The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1890-10-08


and the speculator puts the cotton IN
warehouse and holds it till the spinners
want it, and then sell it for all the prof
it there is in it. The speculator who
does nothing is getting the benefit and
profit which the sub-treasury plan pro-
poses and will give to the farmer who
makes the cotton.
The Fight is on to the End.
We are going to fight this plan through
Congress just as it is, or make Cong ress
give US better plan. If they won't
give us better plan, then they've got to
swallow this one without dotting an ''l'
or crossing a st"
What Is Flexible Currency?
We have in our plan the term "fiexi-
bile currency" That's an easy term to
explain. Suppose the cotton crop of
the South is worth $500, 100000
Then suppose there is only 5000, O,O0O,
900 of currency to meet it. Don't you
see the crop suffers ? 1t suffers be-
cause there is not sufficient money to
buy it. But suppose there is 81, AGO.
100000 to meet this crop. Can't
you see that the money will suf-
fer? It goes out freely aad spontane-
ously and the price of cotton goes up
up up That's what flexible currency
means-a sufficient currency, but not
too much.
The Plan Would Help Everybody.
Now don't you business men, lawyers,
professional men, everybody think you
ought to help us out in our plans
These plans mean good to everybody;
and as honest men l ask you if you
don't think you ought to come to us
and help us. Since we have been or
ganized we have studied and learned
great deal. We have mingled with
others and they have seen our purposes.
And I'm glad to say that other classes
are Coming to US. In my State able
lawyers nave discussed the matter and
have declared for us, and now the
wholesale business men are holding
meetings and declaring that these farm
ers are entitled to all they are asking
for and they say they will help lii III :
What is to be Feared.
There are one or two things which We
have to fear.
One is dissension among ourselves
Here Mr.. Livingston made a strong ap-
peal for unity and give out ringing
protest against dissension and strife. He
said that such dissenslon was nothing
less than putting the knife to the bust
ness throat of the country and murder
ing it.
The Money Power.
Another thing we have to fear is the
Money Power. Before the war there
were but two millionares in the country.
Now there are sixteen thousand of them.
The financial system Of this country is
wrong, and somebody is getting too much
out of it. There are five men in New
York to day who can bankrupt Raleigh
IN five minute by telegram. My
friends, is that a safe condition of things
for you to lie down under? There never
was farmer who became millionaire
and no man can become one by an hon
est and morally legitimate business, for
life is little too short for that.
The Financial System.
The financial system needs to be re
formed. l can tell you that if the money
power was proportionately distributed
throughout this country, twenty seven
men would control everything in North
Carolina. How many of you would be
willing to submit to such state Of af
fairs as that
The Value of Agitation.
Col. Livingston spoke for nearly two
hours. He showed how the agitation oil
the sub treasury bill had caused people
to wake up and begin to think on ques
tons of political economy, and how i
had proven great impetus to the stud,
of government methods. II had been
great educator, and most people owec
whatever knowledge they had of govern
ment finances and government method
to the introduction of the sub treasur,
bill, and the great mass of information
that had been given out incident to it
discussion.
Words to Outsiders.
He closed by saying that the sub treas
ury plan was a measure for the peopl,
and was being supported by the people
and the people have never yet failed t.
carry through any project on whici
they were united. Then he gave som
words to the class which he designate'
as 'OutSlQorS." de SalQ: Wdfu yO
not to take stand against the peopl
now, for just as sure as you do you vii
be overwhelmed. If you oppose your
self to them the wave will engulfy you an
swallow you into oblivion. The thin
for you to do is to join them and g
along with them, or stand aside and Sc
them go by; but don't resist them Q
you will be crushed. Revolutions neve
60 backward but forward.
He Rested His Case.
Then Col. Livingston rested his cas-
on it's merits He said: "We are rigt
and right shall prevail. There is
Power stronger than all the combine
classes and clans of the earth-a Powe
that rules this earth and all the hume
GUS planets that revove about him. Or
: plea and our case is in his hands. v
are for justice and right, and these al
the principles which that Mighty Pow,
loves, approves, and which he Wi
cause to triumph over all opposition al
, obstacles"
w. III. & RS. TUCKER s. co.