The Caucasian. (Clinton, N.C.) 188?-1913, 1893-06-15

- y
ianta Constitution and ignored by
the New York World. We see so
much of the kind of literature these
papers delight to publish that it will
be doubtless interesting 10 read what
they take care To suppress. Hav-
ing offered this gospel Ia the Jews at
Jerusalem and il having been neg
lected, II is now in order, suppose,
TO send ii To the Gentiles.
There is a widespread suspicion
among the people that there is far
reaching conspiracy among many
newspapers throughout this country
TO suppress the truth respecting fl
nanclal questions.
spectfully,
W. J. PsELE.
The following is the article in full:
HAMILToNIAN DEMOCRACY--THE PARI-
TY OF THE TWO METALS.
Many plain people in this section
have no difficulty in understanding
that President Cleveland favors US
ing gold only for the redemption of
L. >. credit currency incluuing sill
yer certificates; but why he should
call this preserving the parity" be-
tween silver and gold is not 80 easy
to see. Most well informed persons
here believe that there is a great
and growing DISPARITY which the
President Increases by the exclusive
use of gold as redemption mouey,
though he has the lawful option to
use silver also. If the policy of meas
urlng silver, and the currency sup
posed 10 be based on il, in gold ex-
Is continued, silver will be-
come more and more commodity
and less and less a money. Still the
President cal Is this preserving their
parity!"
The Sherman act was denounced
In the south by Cleveland electors
because it increased the disparity of
the two metals by making silver
commodity. In this State some of
these electors persuaded the people
that Mr.. Cleveland favored free coin
age at a proper ratio, and cont nd
ed that such ratio should be effected
by reducing the quantity of gold
requisite to constitute dollar i. e.
that the intpinsic value OF the met
al i'll the two dollars should be the
same and that such parity should
be effected by reduction of the
quantity of gold. 1t is believed here
that ii is to the INN ediate interest
of the creditor class, especially those
IN control of the gold, to measure
all debts public and private by the
gold standard because this class, by
combination with similar classes in
Europe can the more easily manip-
u ate this metal (the amount in CIR
culation being known and the pro-
duction limited) and dictate the
terms upon which they will allow its
use as money Gold may be easily
boarded aud its price measured by
its purchasing power or the difficult
ty IF obtaining it, will be increased
III Proportion to the amount boarded.
This constipation of the currency
may he eff. CT at ,nDst critical pc
Rod, as when the q aps are to be sold
and moved,
The exclusive use of gold in tie
redemL ton of the United States cb-
Ilgatlons has doubtless contributed
quite as much to the appreciation of
It's prlce or purchasing power as the
Sherman act has to the uopTc, la ton
OF the price of silver. In fac! il is
claimed by the friends of silver that
In spite Of all hostile legislation sill
yer has deprecated little ii any in
respect to the various commodities
1t should measure Us money, AMI that
the disparity between 1t anl gJid
has been mainly brought about
through the appreciation of the lat
ter due to the government discrimi-
nation IN its favor, and to the hoard
ing. speculation and combinations
made more possible and profitable by
such discrimination.
The policy OF the government
makes gold coin a commodity q ia
cres sing value purchasing nuwcrl
and tho reby invites aud ancoura ges
that most banefal of all businesses,
speculation in the currency. As
soon as those in the best situation
to know are assured that the govern
ment's policy of discrimination in
favor of gold is TO be continued,
they know that there is probability
of its purchasing power being in
creased; and when consequently by
common consent they begin to hoard
it, as they are able to do, in large
amounts, such probability becomes a
certainty. What these spectators
are able to do and INTERESTED to dc
they will do. Gold then is not only
commodity, but a commodity OF
the most unstable price, inviting the
exploits of spectators the most reck-
less of the common good. 1t is no,
hard to show that those who increase
the price, purchasing power or diff.
Guilty of obtaining dollars pending
obligations which are to be discharg.
ed in dollars, are worse enemies to the
common good than the debaser OF
the counterfeiter of coin. Gold there.
fore, under the policy Of our gov
eminent, is too unstable to make an
honest common measure of values.
1t is more dishonest than a Seventy
cent dollar or perhaps fifty cent
dollar, because it cheats the govern
ment (the greatest good and the
debtor class (the greatest number,
In order to maintain policy the
effect of which is to protect the gold
monopoly, it is understood that the
government, if thought necessary.
will increase the bonded indebted
ness of the United States. Alexan
der Hamilton solemnly averred thai
he could not govern this country
without debt, and Mr.. Clevland
following the footsteps Of this illus
trious prototye, seems to think thai
he cannot govern without increasing
it. Hamiltonian Democracy!
w. j. PEELE
Buttermilk for Bleaching Clothes.
Wash the article to be bleached