People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1893-12-08

York.
SENATOR WILLIAM NJ. STEWART, OF
NEVADA.
The circulation of money in every
section Of our vast domain is as
essential to the health and growth of
civilization % the circulation of the
blood in every part of the human
body is to health and lifes, Contrac-
ton of the volume of money pro-
duces the same effect upon civilized
society as strangulation does upon
the human system. The first effect
of contraction is stagnation in Elsi-
ness, and the first effect Of strangu-
lation is stagpation OF the vital or
gans. The ultimate effect of con-
traction is human slavery and barbar-
ism, as shown during the Dark Ages,
while the eighteen hundred millions
of gold and silver coin, which
existed at the time of Augustus, was
being reduced to less than one hun
dred and fifty millions.
During the past four hundred
years, the supply of gold and silver
from the mines has been continuous
and more regular than i'll previous
times, and, contemporaneously with
the new supply Of the precious
metals, new civilization has deyel-
oped and progressed. The output OF
the mines has furnished a metallic
basis of circulation, and kept alive 3
spirit of liberty, Enterprise, and indie
pendence.
In 1873, when tbs energies of the
human race were III more active OPP
GRAFTON than ever before, and when
prosperity and progress were uni
versal, a plan was devised to reverse
the current of human affairs, inaug-
urate rehograde movement towards
the darkness and despair of the
Fourteenth Century, when the heart
of civilization ceased to beat for the
want of the vitalizing influence of q
circulating medium
The bondholders determined to
destroy one Of the precious metals!
Our own Coinage Act, reducing
silver to the status Of subsidiary
coinage, came into operation on the
first Of April, 1873.
From that time until now, the
American people have been anxious
to right ths0 wroa7g, and restore ST.
ra- n th6. place i occupied as a
money metal, previous to That unlort-
innate legislation.
Concentrated capital in money and
bonds has batied ali efforts of the
people to regain their constitutional
rights, and restore the money which
they had promised to pay. Every
Administration has co-operated with
concentrated capital to thwart the
will Of the people, enhance the val
ule of money, and reduce the price
OF property aud the wages of labor.
The Bland Act was passed over
Presidential veto. The Sherman Act
was compromise with hostile
Executive; and it is admitted by the
leader of the gold monometallists in
America, that the Sherman Act
saved the country from financial
panic in 1890.
The financial disaster did not come
from the operation Of the Act of
1890. The financial distress OF the
last three months is the result Of the
efforts of the present Administration
and its London and New I ork alders
and abbettors, to repeal the purchas-
ing clause Of the Sherman Act, and
reduce the United States to the
single gold-standard.
All parties and all platforms, since
silver was demonetized, have declar-
ed in favor Of bimetallism. No party
dares go before the people with a
declaration in favor Of the single
gold standard. Mr. Cleveland, in
his letter accepting the nomination,
used language which the people I'M
derstood, and which his party-man-
ayers declared, to be a pledge in
favor Of restoring bimetallism by che
legislation of Congress. II the cues
ton Of the repeal Of the purchasing
clause of the Sherman Act without
a substitute had been submitted to
the people by the Democratic Party
In the last campaign, and Mr.. Cleve-
land had been elected on such an
issue, the silver Senators would not
have attempted to resist the repeal.
But the means used to secure the re-
peal of the purchasing clause Of the
Sherman Act are equally fraudulent
with the methods employed to de-
monetize silver III 1873, and much
more cruel and oppressive.
Under these circumstances, the
silver Senators deemed it their duty,
by the exercise of the right of free
speech, and free debate guaranteed
bv the Constitution and rules Of the
Senate, to make good their pledges
to their constituents and resist the
great wrong which threatens their
liberties. Every moment Of time
has been expended in earnest and
legitimate debate. They believe that
the passage of the proposed measure
will reduce the United States to
financial colony Of Great Britain, and
deprive the people OF the right, guar