The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-07-25
GOMBROON,
NEAR BLACK MOUNTAIN, n. O.,
July 10 1898

adopted at q recent meeting, urging
Senators and Representatives, TO stand
by the present silver purchasing law
until some satisfactory substitute shall
be adopted.
I observed this action with great
pleasure, for t~wo~Feasons: In the first
place. it is the exercise of one of the
most valuable and legitimate functions
by which the Alliance can be made to
subserve the interest of the farmers
the concentration of their whole in
fuence upon the issues of the day. In
view of the notorious fact of cOmbina-
tions among all other branches Of In
dustry and in every form of capital, |
years ago urged upon u agricultural
classes the Importance Of such organ
izatiOn as would enable them to make
their vast but widely scattered and
disjointed strength felt, promptly and
efficiently, in legislation. Now, the
preservation of silver as a part Of
currency is one Of the most vital Of all
the issues which our people have been
called upon to decide for half a century.
The enemies Of silver money have dis
played a wonderful sagacity in their
tactics. Though scattered throughout
the civilized world they have obeyed a
single voice from headquarters in Lon
don. From New York the word comes
down the line to all American capital
and response is immediate. What Is
known as the Sherman law is the only
legislation on our statute books which
binds us to the use of silver, and
the cry is raised for it's repeal under
various pretenses, all equally false.
The banks, stock brokers, bOndhOlders,
chambers of C mmerce, ct Id omne
1900 411-oNn f0n 10 TanDnnI nnH TIFnn
the calling Of an extra session of Con-
gress to assemble and sit during the
dog days for that purpose alone. Tariff
repeal, which formed the chief issue of
the past campaign, is thrust to the
real and the interest of capital is
placed in front, to be dealt with under
the d~emoraliziDg conditions of a fraud
ulent panic created by capital itself
and called by Mr.. IngersOll 1.-The
bankers panic"
Under these alarming circumstances
l have listened, and mostly in vain, for
the voice of the Farmers Alliance
sounding their opinions and wishes
and of those they represent, compOs
ing fully one half Of the nation; giving
the feeble and vacillating among poll
ticians TO understand what they had
to expect if they betrayed the peoples
cause on this great financial question.
The action ofJour Alliance is the first
I official utterance on the subject | have
seen In the State. 1t IS time your order
was bringing every atom Of it's In
huence to bear. 1t should use every
means possible to let it be known that
there is yet another and entirely differ
ent world in the fields and homes of
toll, whose interests demand attention
- Ill - AL~A -~.LS~,4% &c -@~-4-
dealers, stock brokers, gamblers and
spectators who assume for themselves
to constitute the business ntCrests"
of the land. The effect of this prompt
and united action cannot possibly be
doubted.
In the next place I was glad to read
the resolutions of your Alliance, be
cause they COncurred with my W
most serious convictions. Many years
ago., after as thorough and impartial
an examination Of the question as l
was capable of making, l cane to the
absolute conclusion that the use of
silver as well as gold, on equal terms,
| as the basis of Our currency was best
for the welfare of the people of the
United States. This view has gov
erned my course In Congress, The
| fact that nature sometimes yielded
more of one metal than OF the other,
thus causing q discrepancy in their
intrinsic values, did not disturb me,
for I learned from history that for
nearly three hundred years during
which a ratio between the two metals
was fixed by laws, the fluctuations in
intrinsic value had never exceeded
81 per cent, and that soon after that
law was Withdrawn great and material
fluctuations Immediately began, which
will doubtless continue so long as we
treat one metal as of fixed and stand
ard value and the other as a com
modify. 1t Is not necessary to go over
all the grounds in which my cOnvic
ton was founded, l simply wish to
assure you that my opinions r I'M
changed.
Recent developments which seems
to have unsettled SO many silver ad-
vOcates and make them give way to
the repeal of the Sherman law, has
rather strengthened me in the de-
termination to yield nothing to the
mono metalistS, whose schemes I re
gard as absolutely selfish and unpatri
otto. The panic" so industriOuelY
advertised, is known now to have been
created by them; and will be known
hereafter as the rich mans panic 1.-The
explosion of the Indian bomb is already
discounted as the grasping by the gov
eminent of the profits of coming silver
rupees which heretofore had been
reaped by British merchants. The
coming will go on as largely as ever,
only the Indian government will pocket
the 40 per cent. gain and not the mer-
chants. England does not dare to de
monetize silver in India, which alone
makes her demonetize it at home.
There is not a gold enough in the
world to replace the 5000, 900, 900 of sill
yer in that country. The attempt 20
do so would bankrupt half of ChrlsT Ten