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


| know there has been q great deal
81 trouble IN this country, fellow
citizens. and not unfrequently i am
appealed To for Gods sake 10 do
something Let unconditional fe-
PEA! pass in order tina; this crisis
may he put off. and times get little
better. Fellow citizens. II | Were To
do 80 even AT the entreaty of every
man in North Carolina. | would be q
traitor To the men | serve. so deep is
my conviction that Il Is better 10 en-
dare these ills. which are for a mo
ment. for the sake Of the more far
reaching remedy. Double standard
of money L.. think. the remedy.
and | feel that | must stand by il.
1t cannot be for long.
Now as for this panic. When il
comes down To the ultimate analysis,
what produced it. AT first every
thing was attributed 10 the Sherman
law. They say the Sherman law
takes the gold out of the country,
while IN short time the gold com
mencas coming back. Then was the
Sherman law responsible for ITS GO
ing out and coming back bothe Was
il a trap like the old negro's trap
for varmlnts, that "kotch EN- going
and kotch EN- comingf" Whv, when
we come to inquire into that thing.
we find that the gold that went out,
Mr., President, went out neither ac-
c"rding TO the law Of supply and de-
mand. nor according to the Sherman
law. 1t was sent out purely on spec
ulation by bankers in New York,
and in many cases that gold was
shipped abroad, my countrymen, at
a loss. because it is known to all
those who know anything about ex-
chonge that there is no money to be
made shipping gold across the ocean
when the exchange is 4S7s and up
wards, and a vast quantity of this
money had left this country within
| the last twelve months, the leaving
of which was attributed to the Sher-
man law, was absolutely sent over
to London at a loss to the men who
shipped it. The Sherman law was
in the way of the Spectators, and
they wanted to attribute the leaving
Of that gold to the operations of the
Sherman law, and ever ship-load of
gold that left the port of New York
disturbed stocks and lowered them,
and these spectators bought in all
the stocks at a low price and shipped
tne gold right straight back from
Liverpool, great quantity of it
coming back in the unbrOken pack
ages in which it was shipped. The
! n 10 hnr Cd 4 <. n n00
ounces of silver every month, and it
was paid for in Treasury notes,
which were put in circulation at the
rate OF $4S, 100000 $50, 100000 every
year; and then they complained that
the scarcity of money was the cause
of hard times. Then they attributed
on the other hand, the hard times to
the law which increased the curren-
cy $4S, 100000 a year. Still, that
would not do. Then whatg Then
they said it all came from the want
of confidence. Well how is it with
the New York bankers What is the
want of confidence9 Well, they said,
we are Arid gold will go out of the
country by the operation of the
Sherman law, and gradually the
government of the United States
will return to a silver basis and all
the obligations that are now out
shall be paid in silver. Well. who
says that! Do you say so, Nh. New
York banker? Well, when he was
pressed, then he would say noe Well,
they said the bankers in London and
the French and the German bankers
have not any confidence. What the
devll-eXcuse my French If YOU
please what has the want Of con
fidence of the English and German
bankers to do with this country?
Well, the truth is we borrow money,
say the New York brokers from the
English bankers, and We have to
give security, and unless the Sher-
man law is repealed and we return
to gold standard right at once, we
cannot borrow any more money
from them. Now that is the situation.
A delegation that was in Washing
ton from Baltimore the other day
called upon me and talked about this
want ofconfdence. And when he
came down to the last resort he said
he had confidence, the gentlman VINO
was talking to me, that all Ameri-
cans had confidence, but the Euro
pean bankers had not. | said: $50
you have come here to ask me, an
American Senator and the represen
tative Of a sovereign State, to legis-
late at the dictation of a foreign
banker because he has not
confidenc. He is a liar when he
says it. He knows we can buy his
little island out whenever we feel
like it."
| Now that is positively the situa-
ton. We are called upon to legls-
late in the interests of and at the
dictation of foreign bankers and
capitalists, and the penalty we are
to suffer is they will not send US any
more money unless we discard silver
and come to an absolute gold stand
ard. They have no confidence. |
have confidence in the American
people. | nave confidence in the
fact that every dollar owing by
the American people will be paid
not only IN such money as Is prom
lsed, but in better money. For there
Is no outstanding obligation of the
United States now payable in gold;
not one, and there is not an obliga-
ton outstanding of the United
States of any kind that has not been
redeemed in gold whenever ask for.
Eeven the silver certificates issued
If any of you happen to have one
In your pocket, l have not, l am
sorry to say-you will find that one
silver dollar or ten silver dollars, as
the case may be, has been deposited
IN the Treasury payable on demand.
Now every lawyer on the earth will
tell you that is redeemable in silver.
and every one of these certificates
when presented has been paid not
only in the money that we promised.
but better money than we promised,