Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-06-23
NOT ENOUGH GOLD.
The Silver Executive Committees Ad-
dress.

The National Executive Silver
Committee met at the Hoffman
House, New York, June 20. There
were present Gen. A. J. Warner, of
Ohio, Chairman Francis G. New
lands, of Nevada, Vice Chairman l..
M. Rumsey, of Missouri, and Lee
Crondall, of Washington, Secretary.
Senators Jones and Stewart were at
the hotel and gave the committee the
benefit of their advice. AS result of
their deliberations, the committee
gave out the following address TO the
public:
The National Executive Silver
Committee desires TO call the atten-
ton of the country to the object les
son which is being exhibited in the
desperate struggle of the great tinan-
cial institutions of both sides of the
Atlantic in the gold reserves to avoid
bankruptcy and ruin, and that any
increase by one necessarily affects the
reserves of the other.
Why should such a condition Of
things exist in time of profound
peace and abundant harvests ? Why
should all the great banking institu
tions attribute stagnation and hard
times to scarcity of money, while
they are eXerting all their power to
make money scarce by adhering to
the gold standard, when they admit
there is not enough gold to maintain
the business and credit of the COM
mercial world.
For eighteen years the basis of
credit in gold standard countries has
been growing narrower as the single
standard has been extended and the
production of gold fallen off, while
the structure of credit has been grow
ing prOportionately larger and more
insecure, until the relation of credit
to actual money as disclosed in the
Earrings failure in gold standard Eng
VIC WOIiu anu
started anew the scramble for gold
that threatens all business undertake.
ings and stalks as a menace to every
legitimate enterprise.
We have been doing business, pay
ing debts and distributing our annual
products by Il money standard that
has been growing dearer and dearer
until it is so per cent. larger than
eighteen years ago, when silver was
clandestinely demonetized.
The people are determined that
this injustice shall cease, and it will
cease in spite of the sophistry of gold
worshippers or the cupidity of credit
holding classes. The remedy is in
the restoration Of bi-metalism. Sup.
port the credit structure of the banks
and the country by both the metals
under free and unlimited coinage.
Had it not been for the increased
coinage of silver under the act Of
July, 1890, we could not have stood
the drain of gold that has recently
been going on without the precipita.
ton of panic and the prOstration of
business.
Gold and silver without limit and
money by the Constitution. This
money must be restored to the peo-
pie. This is the paramount issue in
this country and should be made
such in the elections this year.
We regret that the Republican
State Convention in Chicago practi-
calIy declared against the free use of
silver as money when they Endorsed
an act of Congress which treats silver
as commodity.
The demands for free coinage of
silver is demand that silver shall
be coined for use as money, not
bought as commodity. 1t is IA de-
mand that silver itself shall be money
and be coined in the same manner
for use as money, as it was for thous-
ands of years before Mr.. Sherman
omitted from the mint bill IT, 1888
the silver dollar.
If the silver of the world and all
that can be produced cannot be re-
stored to its place as money to sup
plement gold, bankruptcy and ruin
are inevitable, unless some other
kind of money can be devised to take
the place of both. Let the Ohio con-
vention, representing the gold trust,
take warning that il silver cannot be
remonetlzed, gold will be demone-
tized and paper substituted for both
gold and silver. The people will not
be destroyed for want of money.
The gold trust, by rejecting one of
the precious metals, has taught how
both may be rejected. The radicalism
Of the Republican party Of Ohio for
contraction is 10 danger OF being met ]