People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1893-07-07

a wise thing when it Issues one paper
promlse-to-p ay-a-thousand- dollars
calling it Bond, but does a most In
furious and foolish thing when it is
sues one hundred paper-promises-to-
pay-ten-dollars, calling chem Treas
ury notes.
Only few capitalists can get holt
of the bonds and make them basis
for Bank-paper-money; hence they
are good things.
Every citizen can get hold of the
Treasury notes and they afford nc
more privileges to the rich man than
to the poor one; hence they are bad
things and must not under any cir.
cumstances be tolerated.
Both silver and gold are the fun
damental money coins of the Repub-
lie; SO made by our organic law
The equality of each in business, upon
the ratio which experience demon
strated to be the true one, is car
dinal doctrine of Jeffersonian Dem
ocracy. We now find that all the in
fuence of Presidential position and
patronage is being used to perpetuate
the effects of "the crime of 1873"
which, while out of power, Demo
cratic politicians and newspapers SO
vigorously denounced.
In the Platform of 1884 we find a
demand for ''the gold and silver coin
age of the Constitution"
In the Platform of 1883 we find a
distinct reaffirmnnce of the Platform
of 1884.
The "silver coinage of the Consti-
tuition" was the free and unlimited
turning into standard silver dollars
at the ratio of l to Is of all the silver
brought to the mints-just as was
done with gold.
The Sherman law of 1890 was de-
nounced in the last Democratic Plat
form as makeshift, because it evad-
ed free coinage, and limited the
amount to be coined. Previous to
the election the Sherman law was a
guilty thing because too unfriendly
to Free Silver. Since the election it
is criminal because too friendly to
"Free Silver"
Only close student of American
politics can realize the infinite impu-
dence Of such a position.
By the terms of the Sherman law
the silver bullion purchased was, after
July, 1891, to be coined into standard
silver dollars and in sufficient guam
titles to redeem the Treasury notes
issued for the purchase of the bullion.
Previous to July; 1891, it was OPP
tional with the Secretary of the
Treasury to pay either silver or gold
in redemption of these Treasury notes.
It was thought, of course, that he
would at least use some of the silver,
and direction was given him to coin
100000 ounces of it for the purpose.
But on July LIST, 1891, all discretion
ceased.
The explicit words of the law are
that the bullion must be coined and
used TO reoae1ta these ztoteS.
The statute has been shamefully
violated. None of the silver bullion
is coined none of it is used. 1t has
been bulked up in the vaults, USE
less commodity, while the Govern
ment has lent it's helping hand to the
Wall streeters in their raid for gold.
To prove my correctness on this
important subject, / will quote the
words Of the act:
Sec. 3. That the Secretary of the Treas
ury shall each month coin 1000, 900
ounces of the silver bullion, purchased
under the provisions of this act, into
standard silver dollars UNTIL the 1st July,
1891. AND AFTER THAT TIME HE SHALL
COIN, OF THE SILVER BULLION PURCHASED
UNDER THE PROVISIONS OF THIS ACT, AS
MUCH AS MAY BE NECESSARY TO PROVIDE
FOR THE REDEMPTION OF THE TREASURY
NOTES HEREIN PROVIDED FOR.
Idsubmit it to any legal mind in
Georgia whether that statute does not
mean this: up to July l, 1891, the
Secretary is compelled to coin the
arbitrary amount of 100000 ounces
of that silver, for the special purpose
of taking up those Treasury notes.
After July l, 1891, no arbitrary limit
Is fixed to the coinage. But the man.
date is specific: "Coin enough to re-
deem those notes as they are pre-
sented."
Then I submit further, to any fair
minded man, whether lawyer or not,
whether the President and his Sec
rotary nre not violating the laws of
the land, both in letter and spirit,
when they refuse to coin any of that
silver bullion at all, but insist on
pleasing the gold conspirators by pay
ing nothing but gold!
A more alarming state of affairs
never faced a people.
The Chief Magistrate overriding
the law and marshalling under the
flag of the administration the dread
legions of Bankruptcy and Panicl
Shrinking values appeal for sup
port; trembling prices seek point
at which they may rally; agriculture,
almost despairing over its own trou-
bles, looks on with wonder to see
commerce vainly trying to steady its
waverlng lines. Banks topple and
stern disaster shakes its warning
fnorars at avery industry In Amarina.