The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-10-24

tions of the Sherman law, and every
shipload of gold that left the port OF
New York disturbed stocks and low
cred them. and these SPECTATORS bought
in all the stocks at a low price, and
shipped the gold right straight back
from Liverpool, a great quantity of 1T
coming back in the unbroken packages
in which it was shipped. The Sherman
law purchased 4, 500, 900 ounces of sill
yer every month, and it was paid for
in treasury notes, which were put in
circulation at the rate of $48, 900, 600 or
$50, 600, 900 every year; and then they
complained that the scarcity O money
was the cause of hard times. Then
they attributed on the other hand, the
hard times to the law which increased
the currency $48, 600, 900 a year. Still,
that would not do. Then what? 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 confdence9 Well, they said, we are
afraid 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 that7 Do you say so, MI.
New York banker2 Well, when he
was pressed, then he would say no
Well, then who has want of confidence?
Well, they said the bankers in London
and the French and the German bank
ers have not any confidence. What
the devil-excuse my French, If you
dence of the English and the German
+ RI do NTH FhTo 0NJIn+ruQ Wall
the truth is we borrow money, say the
New York brokers, from the English
bankers, and we have to give security,
and unless the Sherman law is repealed
and we return to a gold standard right
at once, we cannot borrow any more
money from them. Now that is the
situation. A delegation that was in
Washington from Baltimore the other
day called upon me and talked about
this want of confidence. And when he
came down to the last resort he saidhe
had confidence, the gentleman who
was talking to me, that all Americans
had confidence. but the European bank
ers had not. 81 said so you have come
here to ask me, an American Senator
and the representative of a sovereign
State, to legislate at the dictation of a
O1ClSa4 Oo1hO4 OCSCbI4SO II ia LII COL4
fdence. 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 situation.
We are called upon to legislate 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 standard. They have no conf
dence. l have confidence in the Ameri-
can people. l have confidence in she
fact that every dollar owing by the
American people will be paid not only
in such money az is promised, but in
better money. For there is no out
standing obligation of the United States
now payable In gold; not one, and there
is not an obligation outstanding of the
United States of any kind that has not
been redeemed in gold whenever asked
for. Even the silver certificates issued
if any of you happen to have one in
your pockets, [ have not, | am sorry
tossay-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 pre-
ented, has been paid not only in the
money that we promised, but better
money than we promised, in gold; and
yet these fellows say that they have
not confidence, and we are to destroy
the constitutional money Of our fathers
and lower the price of e cry pound of
cotton and of every bushel of wheat,
until it comes down to the starvation
and the ruin that has everywhere
marked the demonetizatiOn Of money
in order to give confidence to those fel-
lows over there, If I do it have quit
swearing and am trying to be a better
maxwell, | will just say simply | will
not do it. Let that be sufficient, and
let some of those fellows who do not
mind a little profanity get behind the
house and do the cursing for me.
The appeal is often made, fellow.
citizens, and justly and properly made
to Senators, who are standing In the
breach against this characterization of
that there are so many interests
that are actually suffering on account
of this p~rotracted ~stringency, that it
would be well enough perhaps to give
they say and many Of the banks
and their friends accompany this ap
peal with q threat and say eff you do
not give away, we will give you an
other turn to the screw and we will
bring on the hard times again and in
them"
These declarations, fellow citizens,
are proof positive that they produced
the other panic, and when they reiter-
ate these threats the disposition of
strong, independent men Is to resist
them. But it is hard to resist the claim
that the money interests are suffering
beyond any other. The trouble is, fel-
low citizens, that the bankers and the
brokers and that kind of men make the