The Caucasian. (Clinton, N.C.) 188?-1913, 1893-10-26

REPEAL Of the Sherman law. After
weeks Of buster and bluff the South
ern free silver senators have surrend-
cred 10 Wall street. To say that II
i. a shameful surrender of all prIn-
ciple involved in the struggle TO err
tablish the free coinage OF SILVER II
too apparent 10 require assertion.
The terms Of agreement are as fol
lows:
/. The repeal Of the purchasing
clause Of the Sherman act to take eff
feet Oct. /, 1894.
,. The coinage Of all the silver
bullion purchased between now and
the time the law expires, together
with the seigniOrage on that purchase
and the seigniorage now in the Treas
ury.
3. The withdrawal from circula-
ton Of all greenbacks and Treasury
notes Of denominations under $40.
1t provides for the absolute cesSa
tlon of silver purchases and aban-
bons, Internationally, the Democra-
tic doctrine of free coinage. These
are the essential points in the con
troversy. The compromise takes the
position that it is possible to deceive
the people with a 'makeshift' Of
this kind until they are educated to
the point of abandoning bimetallic
currency entirely. By the terms of
this agreement the Democratic party
is irrevocably committed to the Wall
street theory of finance which means
the destruction of silver as curren-
cy. and what that means to the farm
ers is too well understood by them to
need elucidation or suggestion.
Bland of Missouri, states the situa-
ton exactly: 81 wont vote for it,
said Mr.. Bland. at is worse than
anything | expected, and | do not
see how men who are for the free
coinage of silver can support it."
But what free silver Democrats
will do in the face of what the Dem
ocratic Senators have done, in sign
ing this agreement, need not sur
prise anybody. Observation-Disclosures
Senators have humbly and penitent-
ly appended their names to the com
promise agreement. With the jubi
latlon of a ratification meeting the
House passed the Wilson uncondi-
tional repeal bill, and with the same
brand of fermented enthusiasm they
will agree to the Administration com
promise.
THE ONLY QUESTION ASKED
Will be: Does the Administration
approve Of it? AS yet the Presidents
attitude is a matter of speculation
Positive assertions ale not lacking
that the compromise has the unequiy
Ocal endorsement of the President
This is the prevalent opinion and
there are good reasons to sustain its
accuracy. But what spectacle il
makes of Mr.. Cleveland! How di.
rectly and absolutely it gives the lie
to the senseless panic clamor started
by the Administration for the pur,
pose of coercing the repeal of the
Sherman law. What a commentary
upon the honesty and integrity of the
Chief Executive of a great nation
How can honest, truth-loving people
respect party leadership that re
sorts to such shameless subterfugesi
AN ADMINISTRATIONS VICTORY.
Jet so far as the silver men ar,
concerned it is an Administrator
triumph. Mr.. Cleveland's acquies
ence in the compromise is a gross in
consistency. 1t properly subject
his motives to unanswerable censur,
and animadversion, but to the silve
men 1t means a cowardly surrende
-cowardly, because the surrende
was made in the face of assured vic
tory.
BLUFFED AND STAMPEDED.
Reasons and explanations
will soon be given out to accoun
for the silver mems surrender. "Par
ty harmony will be made response
BILE for it, but the honest truth abou
it is, they were bluffed at their owl
game and stampeded by fear of Re
publican intervention. John Sher
man precipitated the catastroph
when, shaking his long, honey han
IN the face of the Democrats, h
Numbered out the declaration; II
yon cannot settle this question an
will retire from the Senate chambe
we will fix it on this side of the cham
Der and do the best we can with on
silver friends who belong to US an
who are blood of our blood and bon
of our bone"
This speech, bold, defiant and az
gressive, carried CONSERVATION to til
divided Democracy, and the effect
realized in the steering committee
plan of settlement. What of RI
proach and qualification is involve
In this compromise is obvious. Wha
theory. compatible with princip1
and conviction, will be offered to e.
plain away what must seem to til
people an indefensible position, ca
hardly be surmised. 1t is clearly I
assume that they were frightened
Republican threats and that the
have been stampeded into a positio