The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1893-08-10
Wilmington MESSENGER. |

To-day.
Wilmington Messenger.I
The Democratic law as laid down
at Chicago, with regard to the cur
rency question is clear, direct and un-
mistakeable. Here it is:
I'VE denounce the Republican
legislation known as the Sherman act
of 1890 as a cowardly makeshift,
fraught with possibilities Of danger in
the future, which should make all of
its supporters, as we'll as it's author,
anxious for it's repeal. We hold to the
use Of both gold and silver as the
standard money of the country, and to
the coinage of both gold and silver
without discriminating against either
metal or charge for mintage, but the
dollar unit of coinage of both metals
must be of equal intrinsic and ex-
changeable value, or be adjusted
through international agreement or by
such safeguards of legislation as shall
insure the maintenance of the parity
of the two metals and the equal power
of every dollar at all times in the
markets and in the payment of debts;
and we demand that all paper currency
shall be kept at par with and redeem
able in such coin. We insist upon this
as especially necessary for the protec-
ton of the farmers and laboring classes,
the first and most defenseless victims
of unstable money and fluctuating
currency.''
Upon that financial platform Grover
Cleveland stood and was elected.
Upon that platform Vance was un
derstood to stand last year. He be-
gins his letter with this statement:
IL have received copy of the reso-
luton of Mecklenburg Alliance, adop-
ted at recent meeting, urging Sena-
tors and Representatives to stand by
the present silver purchasing law until
some satisfactory substitute shall be
adopted. l observe this action with
great pleasure for two reasons.''
He farther on says this:
"In the next place l was glad to
read the resolutions Of your alliance,
| because they concurred with my own
most serious convictions.'
We suppose from this that the Sena-
tor will disregard the Democratic law
as given above so far as the repeal of
the Sherman act is involved. The
Messenger has all along favored the
two standards-gold and silver-or
rather double standard embracing
both metals. 1t has also declared
itself as bound by the Chicago law. 1t
has not believed and has so stated,
that the Sherman law is responsible
for half the sins laid at its door, But
it has in good faith accepted, urged
and defended the law Of the great
Democratic party at Chicago. If
Senator Vance shall put himself in
open opposition, in decided antagonism
to that law the effects may tend to
divide more and more the party in
North Carolina. 1t is weak enough
now in the minority. That he will
resist the repeal of the Sherman act is
apparent from this remark of his:
Recent developments, which seem
to have unsettled so many silver advo-
Gates and make them give way to the
repeal Of the Sherman law, has rather
strengthened me in the determination
to yield nothing to the monometalists,
whose schemes 1 regard as absolutely
selfish and unpatriotic.
We had hoped for more unity of &C
ton among the North Carolina mem
bers in the Congress. If they should
all vote with Senator Vance they will
put themselves in this position that
after earnestly advocating on the
stump the Democratic law enacted in
all due form at Chicago in the great
representative Convention of the whole
party gathered from all sections of the
Union, they turn around after the
victory is won and repudiate the first
part of the law that bears upon the
repeal of the Sherman act. Wha,
comes will be satisfactory no doubt to
a great many who wear party ties
! loosely, or who are not believers in
platforms and who think they are
simply made to bamboozle for q
campaign, to be forgotten, set aside,
trampled upon as soon as the election
is over, or who think that any thing i:
fair to beat the Money Devil or tc
: "wollop' the Goldbugs. But thi:
may have boomerang effect in ths
: end. There are thousands of Demo
Gratis who read, reflect, inwardly diges
who will be unable to see why Johr
l Sherman's makeshift" shall remain
, when Democratic law says it must 60
With much that Senator Vance say
t the Messenger is in sympathy. l
: heartily agrees with him that both golt
and silver are needed and are for eth
4 best welfare of the people of the Unite'
), States To our mind this is true
S We agree with him in what he says o
:. the rupees in India. He goes to tn
v kernel of the recent action of tn
British Government when he say
e this:
Il "The explosion of the Indian bonn
n 4 is already discounted as the graspin
n by the government of the profits {
IL coming silver rupees which heretofor
n had been reaped by British merchant:
OF The coming will 60 on as largely a
!, 4 ever, only the Indian Government wi
= pocket the 40 per cent. gain and NJ
- - the merchants. England does not dal
e to demonetize silver in India, whic
Is alone makes her demonetize it at hom'