Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-04-23

7 ne -h4IdIltt Utlt'HattS convened Il ~
O'Clock this morning in ,hc blue room Of the
city hall, and DIR. Malcolm was presented
and introduced {. W. Maruue.
Dr.. Macuuc stepped ~ The front and
said
/ am proud to appear before this audi
ence. For HedrlI two Years / have labU.eu
for the cause. and despite the calunuy u
the public press, am here 10 meet these
people
WHO HAVE STOOD BY Me.
| have remained true 10 the duties Of
my position ~ the mead Of the NaJiyu4.
Alliance, and VIII gladly render All 81
count Of my stewardship to my friends.
DIR. Macune then read from manuscript
an explanation OF his action in the pJ-
sitions he has held in the past i've Year,
He claimed that his efforts in behalf u
the order were purely unseltish. ami :.
great deal of his labor was Perfyrm-J
without compensation. He defended his
management of the Texas exchange, the
the National Alliance and the campaign
now in progress for financial reform tie
stated that IL the matter Of chc charges
against him in the Georgia senatorial con-
test he was
FULLY INDICATED
by die committee Of investigation appointed
by the Ocala convention, which eNOucT.-r,i
hun from a. guilt by vote Of - to j. and
that one. Y. \. Hall Of Missouri, has been
=
with the majority OF the committee Dy al
tackS on himself through the press of tho
enemy. He was proud of his record ia
that matter and would prove his innocence
to any true Alliance man or any
REGULARLY APPOINTED COMMITTEE.
The speaker then began his speech on the
sUb-tTeasurE. he promised by explaining
At length the financial condition OF the
country.
The volume OF money, said the speaker. IS
considered from the standpoint of relative
supply. IL other words, the supply of
commodities has something 10 90 with the:
demand for money and the balance raurr.t
should De measured BY that demand The
subtrraSLry plan suggests d volume az
money measured by that standard ana IS
the only plan thar can undo what has Uecu
done in the work Of
CONTRACTING THE CURRENCY OF Tue CoUN-
TRY.
The conditions brought about b. IN.
legislation u the past have reduced the
volume Of money and reduced the price of
evc-y commodity produced by the farmer
\ systematic contraction has gone on uni.
now the commodity Of the producer was ii
i discount and money At Il premium.
The arguments used 10 support this posi-
ton was pretty much the same JS have
been used for Years past by the chiefs OF
the GrrcenbaCk supporters. The speaker
opposed liked volume Of money The
great controlling businesses, manufacturing.
agricultural and commercial are not fixed
IN the volume Of their supply at any par
ticular season, but Is always greater Imam
the volume OF money needed to perform the
functions OF a circulating medium, which is
absolutely
NECESSARY FOR DISTRIBUTION.
The amount OF monev referred to neces-
sary TO move the crops of the farmers OF
this country was =, 900 900. 600, nut the vol
ume Of money il existence would nOG
amount 10 more than 500, 0OO.00O which IS
only Cne-seventh OF the amount actually
This contraction of the currency has
brought about the unsettled constitution OF
your minds ana you have determined 10 Sc
cure Z change of affairs, and that good dav
Is coming and coming very soon. The
cause oftne present conditions n measure
the rapid advance in the industrial world
While 100 years ago IL would take , whole
year to transfer our crop to market, now
IT ONLY TAKES SIX WEEKS
to get the entire crop Of cotton from the
Southern farmer. He has seen the entire
crop drawn out of his hand in that length
Of time ana in three days thereafter tho
cotton went up in prices , cents per pound
In undertaking TO explain the sub-trei,sul.y
plan he recognized the difficulty of discuss
details of the plan. The principle. was al
after the principle was adopted. He chdl-
enged any man TO oppose the sap-treasUry