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

WONDERFUL,
The News & Observers beginning
TO show some faint signs of indie
pendent thinking. For paper that
has 80 long been the service tool and
mouthpiece of ali kinds of monopo-
lies this is truly wonderful Read
the following taken from an editori-
al Of June 9th:
The financial situation grows in
interest each day, and the papers
ar" discussing its phases from their
various standpoints.
There are several propositions
that strike US as odd.
First, the banks III New York, for
the want Of currency, have contract
ed their loans about $4,000. 200 and
are lending their funds exclusively
on call. There is evidently a scare
Ity OF currency, yet people insist
that the only process by which new
currency is supplied to the country
shall stop. That seems odd to US.
Second. Gold is rapidly leaving
this country. Men in that line of
business in New York are sending it
away, and they are afraid because
of the silver purchasing process gold
will go to a premium on their hands,
they are Fastening to get rid of it
and are sending it out of the coun-
try. That we say looks odd.
Third, the Treasury sold bonds in
order to amass fund in gold to re-
deem United States notes and re-
sumo specie payments. Tat fund
is ample for the purpose. But it is
being used for another distinct and
different purpose. 1t is used not to
redeem notes, but as sort of avail
able banking supply of gold on
which Europe can draw at pleasure.
This again we deem odd.
Verify, the practical handling II
finances is full Of mystery"
You will see that the editor has
not risen to the dignity of having an
opinion, or if 50, he has not yet gotten
the courage to express it. He sim
ply admits that he is puzzled and
don't know. We will watch the
progress of his troubled and becloud-
| ed intellect with interest and sincere
ly hope that he may pull through to
the light, and may have the courage
to speak out.
Alas. our fond hopes are blighted.
Read the following taken from the
leading editorial of the n. Il o. of
June 9th:
ave would prefer not to abandon
our straightforward policy in regard
to restoring silver us money metal,
until the European nations defnit-
lively reject our proposals, We con-
fess that it seems that they will; and
when they do, so that it would be
useless for us to pursue that policy
further, we should repeal the silver
purchasing act, and prepare to enter
the CONTEXT with them for gold"
The editor shows that he knows
which is the straightforward and
honest policy, but IN the same breath
makes Il hr.miliating and disgusting
spectacle of himself by admitting
that he has not the courage to fight
for the right. He says in effect that
we are Il nation of imbeciles and
towards and slaves, and must bow
to the will and interests Of England.
That may be true of him and the
whole subservient set of politicians
and newspapers that have practiced
hypocracy and served monopolies SO
long that they have lost theil con-
victions and manhood, but it is not
true of the rank and file of the peo-
pie in all the parties. They not
only know their rights but will main
tain them. They will save them
selves and this country from such
humiliation and poverty. They
will take charge of this government
and make their own money, the
kind they want and need, and will
attend to their own business and
prosper, and leave other countries tc
take care of themselves. Good by Ashe
& Co.-you are unfit to lead or teach
the people! Go and bow down tc
your idols. The people Will servivt
without you.
The condition of the befpddleC
! and la boring intellect of the editor
shows further signs of improvement
We are beginning to have hopes
: that he will escape from his thral
) dom of intellectual slavery. In the
issue of the News & Observer O.
| June 0th commenting on the Presi
, dents call for and extra session o.
Congress he says:
eve think the President misinter
: prets the signs of the situation aut
r attributes visible facts to wrong
: causes. The logic is thus wrong
He is led to speak of the issue o
coin notes ''as the purchase of silve
/ with gold taken from our reserve.
Suppose those notes were issue,
without there being any silver pur
chased with them; would their issu,
have any material connection will
any loss to the gold reseryea w
think not.7
| In the same editorial commenting