The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1891-08-06

OF an increase or the CrculatlOn. L be-
lieve that shall be able to prove to the
satisfaction of any fair minded man
that very great crime las been COM
mitted against the people by contrsc-
tion of our circulation. II you will ex-
anime statistics for the last twenty-five
years you will find that they will prove
three things: First. That the per
capita volume of currency has been con-
stantly and materially leSsened; second,
that bankruptcies and failures have
rapidly multiplied in consequence;
third, that the national debt during this
period has increased instead of being
diminished"
He then dealt with the subject Of the
contraction of the currency and the
resultant failures and losses. Speaking
of the plan OF relief Col Terrell said
that the subtreaSury was introduced to
give the people control of the circula-
tlon and the power to prevent discrim-
ination against the producer. lie dis
cussed at length the need for more
money and defended cotton us good a
basis rs gold bullion,
WE SHOULD SAY SO!
This was the essential part of the
arugment, and the speaker maintained
it with great force. Col Terrell in his
address necessarily went over a great
dress of Col Polk, and which was given
to-day in The News and Courier.
GOVERNOR TILLMAN
was received with great enthusiasm
| when he arose to peak. He was evi-
IDENTIFY in the house,: Alliance men ard
friends. Opening las ,!,rech he said
II thank you for tllr r"rdiality with
which | was received by III yesterday,
and for the renewal Of that feeling to-
day. At the outset | would call atten-
tion to the charges that have been made
inside and outside that | have been
fighting the Alliance. l need not tell
you that such charges are not true.
| [Applause.l
al am aware that the Alliance has
been criticised and that have been ap-
plauded and patted OH the back on the
assumption that there was personal
| fight between the Alliance and myself,
but l tell you my friends that that en-
dorsement has been OF no avail Ap-
plausc. 1t was too transparent. Ap-
plause.l If they have been urging me
forward OH The supposition that there
| was a war between me and my friends
IN the Alliance, they have baen mista-
ken"
| GOING FOR POLK AND STOKES.
Governor Tillman said that at the
| oSIoOO ITO "do oullRSll W ii VI
the injustice Of President Polk coming
here and taking vote in the Alliance
on the subject matter of the debate of
to-day. He desired also to know why
President Polk had the right to elm
mate five planks Of the Ocala platform
and that such a furor was raised be.
cause he differed with his brethren on
one single plank. ApplauSe.l claim
said Governor I'illman. that the action
Of President Polk and of President
Stokes was nothing more or less than q
usurpation of authority not granted by
the constitution of the Alliance
| TESTING TIE OCALA PLATFORN
Governor Tillman then took up the
Ocala platform and discussed it from
the opening to the closing section. He
laid great stress on the value and i'm
portance Of the free coinage of silver
and explained the robbery committed
by its decentralization. He then argued
in favor of an income tax and the alb
solute necessity of having Senators
elected directly by the people 80 as to
get rid OF the power exercised by mil
liOnalres who bought and sold the peo-
pie like cattle or hogs.
lie claimed that the sub treasury bill
had come to the people downward from
the st Louis meeting in a perfunctOry
way, and that 1T had gone back to Ocala
and had been endorsed in the same way,
| with the result and effects not under
| stood by the people, the source of author
ty. lApplause.l but will not deny" he
said, that the agitation has done great
good in this broad country of ours, for
1T has called attention of the world to
the fact that the producing classes are
surely oppressed, and are demanding,
crying for relief [Applause.
Governor TiIlman then tOurh pd nDop
the currency question. | am, he said,
| in favor OF a flexible currency, of a
greater volume of currency; but l
maintain that II flexible currency as en-
unciated toy Col Terrell means an at
tempt to fix prices by legislation, to fix
the price OF commodities by statute.
| That, my friends, is fallacy, because
the price must be regulated 10y the i'll
flexible law of supply and demand.
FOLLY OF TIE COTTON STORAGE IDEA.
| Governor Tillman said that in case
cotton got damned up in the ware
EhOuSeS the consumers would know that
| 1T would have to come out in time and
that just AZ soon as tho quantity was
known, which could not be concealed,
the price would gravitate to its normal
level. This illustration he introduced
| TO show hat an artificial means could
/ EOt eVade or run counter to an eSt3b-
lished law in the commercial world. 1t
was asserted, he said, that by spreading
! the supply over twelve months the fall
in price would be prevented and that
the evils of incOnstant prices would be
ObViatrC. They had, however, forgot
ten that hy the terms of the bill by
| which the whole could he only held for
twelve months, ,one-twelfth of the crops
must be sold each month. and that there
was absolutely nothing to prevent the
speculatOr from havidg the same chance
as he holds under existing laws. lie
would have the same chance with the
sub-treasury as he now has with the
people. The Governor held to the posi-
ton That the sub.treasury bill was class
legislation, or. as he put it to-day, "it is
u special privilege rather than a right"
admit. he said, that the Government
has loaned money, but the right for
such action IS based on the general wei
fare clause of the Consultation, and not
upon ,proscriptVe or statutory right.
1T Will not be denied that any scheme
II