The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1893-08-30

imical to their interests.
In 1861 our country was happy and
prosperous. When the war came on and
Lincoln was elected President he had no
army, no navy and no money to pay it.
He sent a recommendation to Congress
so that be could pay off that army, and
sixty millions of greenbacks were issued
and made a legal tender. We had a
national banking system at that time,
and in forty-eight hours after this bill
wes passed bankers convention was
held in Washington, with Mr.. Mercer of
New York as presidant. They did some
thing, We know not what. That caused
the first tro lble. An Act was arranged
by Congress that this money should be
legal tender for all debts except duties
on imports and the interest on the public
debt. This made it necessary to 60 to
the national banks and pay big discounts
to get gold to pay the duty on imports,
which made it necessary that the govern
ment should have gold. It then became
necessary t:lat we have bonds, and they
were IS ed. It became necessary that
national banks be established. Five men
should be joined together to establish
these banks. The bonds were sold at so
cents ON the dollar. and when deposited
the bank corld issue its OWL currency to
the amount of $50 to every 500 OF bonds
and draw in rest on it as we'll as interest
on the full face value Of the bonds. We
claim that that is wrong. We ask that
the national banking systom should be
abolished. Constitution gives to Con.
gress the right to issue and fix the value
of money. These banks are an injury to
the country and should be abolished.
There are 3,100 in the Union. Men have
made millions out Of the system. They
should make money reasonably, and by
honest work like we have to do.
To-day We see Congress assembled by
order of the President in extraordinary
session. The obje It is to repeal the Sher-
man Act Cleveland is Democrat, elec-'
cd by the Democratic party, but he never
could have been elected but for two
things: l. The teaching Of the Alliance
and (2 the platform says we must have
gold and silver ON parity. Ee here read
extracts from Mr.. Bryant's speech. We
had gold and silver on a parity up to
1873, and from 1913 on a parity Of l6 to l..
He expo ;ted Cleveland to ask for the
repeal of the Sherman law. but he thought
he should have made some recommends
tions. Give us honest money. Give us
plenty OF money Of the kind We have, l6
to |, and we will be satisfied. We need
more money to do the business Of the
country. The bonds are to be paid in
coin of standard value. Why should We
have any change? Why not pay in coin
16to1? The government has no more
right to change its contract than you
have to change a contract with your
neighbor. When the debt wes contracted
the parity was 16 to ]. The Alliance
only asks for what we had in 1870. The
Sherman law was never advocated by the
Alliance.
There has been an increase in popula-
ton and decrease in money for the past
thirty years. The people who had a lit
tie money have withdrawn it from clrcu-
lation. You don't make money. You
make cotton to buy money with.
He then quoted from Porter's census to
show that what is called the produce dis
trict has decreased in wealth, while the
manufacturing district has increased in
wealth. He then told how In the days OF
King Solomon, and Pericles, and some
other distinguished men OF that time, that
in all Judea and Greece and Rome the
concentration of wealth in the hands OF a
few cities OF individuals had caused the
downfall of these olden time countries.
The wealth of this nation is moving to
the Eastern cities. We have no way OF
holding money here. If we had more
manufacturing enterprises We coold hold
our money. # we could establish these
enterprises we would be IN better condi-
ton. We could then hold some surplus
here.
He said he would not discuss the tariff.
It was a partisan measure and the ALI
ance was non-partisan.
We want Congress to give us relief.
How are you going to move your cotton
crop? Don't see how you are to get 5
cents for your cotton. He didn't know
about a stay law. He thought better
plan was for every farmer to throw his
cotton under his shed and say to the
merchant, "I'm ready to yay You when l
can get something for my cotton" He
appealed to those who dld not belong to
the Alliance to make haste to join. Out
side Of the Christian religion he cid not
believe there was a grander work on
earth than the Alliance. It never was
intended to injure any legitimate busi-
ness.
He spoke something over an hour and
threw in several anecdotes to Illustrate
his points, and concluded by reading 0
few stanzas from Goldsmith's Deserted
Village.
At the close Of Mr.. Gaston's speech
dinner was announced. The first speaker
after the recess was
Mr.. J. W. BOwDEN,
Editor of the Cotton Plant. Mr.. Bow
den said it gave him plea ure TO attend
meetings Of this kiEd. He said the
people had not learned much of him
except through an unfriendly press.
He had not been in town long. He
was farmer and hoped to go back to
the farm az SOON rs he had finished
bis work in this State. He now lived
in Columbia, and in way the people
there w-re kind enough to him. There
were many nice people there, but you
know tn. political atmosphere of Co.
lumhia. The p'prrs they have there
keep them in d-nse ignorance OF the
sentiments and thoughts and feelings
of the great HAAS of the people through
out the STATE II WAS X relief to him
to get away from there and get out and
mingle with the people i'll the country.
He wanted tnum tn know what those