The Caucasian. (Clinton, N.C.) 188?-1913, 1892-07-21
MIR. CULBERSON,
OF TEXAS.
MAKES A SPEECH ON FREE
COINAGE.
Some Sharp and Logical Utter.
anceS.

During the consideration of the
Free Coinage Bill in the House last
week, Judge Culberson, of Texas.
one of the ablest members and best
lawyers in the present Congress,
made the following brief but logical
speech, which received and deserved
immense applause:
Mr.. Speaker, I am somewhat op-
pressed by the interest which this
occasion provokes. What means
this excitement to-day? Why are
the galleries so crowded? Why are
"the printers" out in such force ?
We have no tariff debate on hand.
This vast crowd has been attracted
here to witness great battle Of the
common people against the hosts of
monopoly. ICheers and applause.
Do not take away my time by ap-
plause. Laughter. Disguise it as
you may, cover it as you please with
the glamour of eloquence, but at
last il is battle between the inter-
ests of the plain people and the
money power of this country.
Great applause.
I hurl back to the gentleman from
Maine Mr.. Reed the charge that
the Democratic party is in favor of
debasing the currency of the coun-
try. The charge is gratuitous and
unfOrnded. From the organization
of the party, now more than one
hundred years ago, until the present
time it has been the steady advocate
and earnest defender of, sound cur
rency [applauseI, and 1 challenge
contradiction of this statement. We
do not intend to debase the curren-
cy, but will inform you what we
seek to accomplish.
Do you remember that in 1878 IA
Republican Congress, inspired by
domestic and foreign bondholders,
destroyed silver, and thus enabled
the money power here and abroad
to rob the taxpayers of the United
States Of one billion dollars? When
silver was struck down the indivi-
dual obligations of every man in
the country, which might haye been
discharged in coin, we're required to
be paid in gold, and the immense
bonded debt of the United States,
held here and abroad, which might
have been discharged in cul rency or
coin, had 10 be paid in gold. You
have not forgotten, suppose, that
when this great outrage was per-
petrated upon the people of this
country silver bullion was worth
relatively per cent more IN the
market than gold bullion.
From 1878 to 1878 the representa-
tives of the Democratic party in
Congress struggled as men never
struggled before in any legislative
assembly to overthrow this accursed
financial despotism which the Re-
publican party had inflicted upon
the people. Loud applause.1 In
1878 we accomplished the object.
We passed through the House a
free-coinage bill; it went to the
Senate and was disagreed to. The
Senate forced us to accept COM
promise, and under that compro-
mise the Government has coined
over four hundred millions of silver
dollars. They are for the most part
in circulation to-day among the
people, either in silver dollars or
silver certificates. Are they de-
based? Have they deprecated +?
Are they not the equal of gold ?
And 1 may say, Mr.. Speaker, that
but for the Democratic party we
would have been struggling along
now with about $500, 100000 of cir
culatiOn, whereas there are in circu-
lation over $1,000, 900. loud
applause
We are told that it is bad thing
to coin a silver dollar from bullion
worth 81 cents in the open market.
If that were true the statement
would challenge consideration. Why
is silver bullion worth OILY 81 cents
in gold? Because in order to rob
the plain people of this. country of
the Just rewards of their toll, for
the purpose Of exalting gold, and in
order to establish an arbitrary meas
ure by which the value of labor and
it's products is to be determined,
silver has been discreditei by u1-
| friendly legislation. It can not be
denied that an unholy warfare was
commenced and has been waged fol-
thirteen years upon the money OF
the people. Can anyone doubt that
if silver were restored to its full
monetary capacity silver bullion al
the present ratio would be equal te
that of gold? Lift the oppressive
hand of the law from off the money
of the people and let it perform its
ancient offices. Loud applause
Mr.. Speaker, we can not, OF
course, undo the wrongs which Were
inflicted upon the people by the ac1
to strengthen ths public credit. We
can never restore to them the losses
which they sustained by the de-
mOnetization of silver. We have
no power to compensate them tol
the unjust exactions which succeed
ed the conversion of currency into
gold bonds; but, speaking in the in.
: terest of the people, I solemnly de-
clare that they intend to obtain the
: right to use the money of the Con
stitution and to abolish that finan.
, cial policy which has impoverished
, them. [Cheers and great applause.
Gentlemen inquire why we want
to coin more silver. I answer, not
because free coinage would swell
the volume of circulation to tor.
rental flood, as some of the advo.
Gates of gold pretend to believe
The capacity of the mines OF the
earth is not sufficient to alarm any
one who is devoted to the best fl
. nancial interests of the people. The
/ oroat and ccntrOllinp reason for the