The Durham daily globe. (Durham, N.C.) 1889-1894, 1893-08-04

Financial System.
WAsHINGToN, August 4.-[Special. -
Judge A. B. Norton, the nestor of the re.
publican party in Texas, comes out fol-
the free coinage Of silver. Regarding the
issue of the hour, he expressed himself
as follows yesterday to a GLOBE reporter
81 favor the free coinage Of silver and |
think that the west and south will be
strong enough TO pass a free coinage act.
OF all small amounts of money silver is
the money Of the labOring people. 1t is
the coinage that gives it its value; con-
gress declares its value. In early times
the manufacturers of England tried to
dictate TO US what our policy should he :;
now Wall street undertakes to dictate
our financial policy on European lines,
and it throws the country into financial
commissions. When | was a boy, with
the natural agents Of production favora-
bic, a like financial stringency was caused.
My father was running a number of flour
ing mills in Ohio, and wheat tumbled
until it reach 1S4 cents a bushel. As it
was more profitable to CONVEX it into
pork than flour my father fed it to hogs.
Just imagine the condition of the farmer
then. He sold bis wheat at 1872 cents a
bushel and had to pay from 81! to rs
cents a yard for calico. Rotten banks
caused that stringency. But as regards
the silver question, why should we, whose
forefathers declared their independence
of the old world, suffer ourselves to be
dependent on it and allow it to dictate to
US what our financial system should be
Because England desires to make a
change in the finances of India must we
wreck our farmers by following suit ?
Silver is the precious metal of this CONT
nent the nations of this continent, with
the exception of Canada and one or two
other insignificant exceptions, owe their
political existence to this country: trea-
ties of commercial reciprocity can be
established with those countries when
ever we put forth proper effort to bring
them about, and with silver their money
and our money there is no reason why we
should adopt gold as the only Standard.
We can afford to take their silver dollar
for our goods and they can afford TO take
our silver dollar for their coffee, their
sugar, their vanilla, their valuable woods
and their other products. In fact there {
is no reason why all the nations of this
continent should not agree on a silver
dollar of the same intrinsic value. Yes. ,
| am IN favor of the free coinage of siIv +
and | am not in favor Of increasing tie
amount of silver in the dollar. The con-
vuisive effects produced by the dictation 6
OF Wall street are enough to arouse the
American citizen to anger. Just think of ,
1t! Honest wOrkingmen forced to leave {
colorado in search of bread, are stopped /
at the entrance TO Kansas City bv armed |
officials. The judge grew wrathy NV 8
God, has it come to this that free-born :
American citizens of industrious records
and charged with no violation of law are
prohibited from going to and fro in
search Of employment. 1t is an outrage
far worse than the act of stopping immi
grants at Castle Garden"
"What will be the result of the a~gita-
ton, judge?
Il think that parties will break up and
reform. Republicans, under the leader.
ship of such men as Teller and Wolcott
will unite with the democrats, and demo-
Gratis under eastern leadership will unite
with the republicans. The south will
go with the west and the sectional !
Inc from being one of latitude will be :
one Of longitude. Our Texas congress- :
men will vote with the west. Colorado !
solidly by Texas for deep water at +
galveston and the states west of the L
Mississippi are geographically allied y
With Texas from a commercial stand d
POINT. Mills is disposed to keep in with G.
Cleveland, but the pressure on him will -
'e such that he will have to show his h
He is now in a tighter place than n
ie was when he rose to fame in his con- tC
Isl for personal Liberty" Z
What will John Sherman's policy be =" a,
Il do not think he has announced it. gi
am, however, in receipt of a letter from III