The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1893-09-28

you refuse to take? You are a credi-
tor of the United States government
by the same radical assumption of
sovereignty" that created their debt,
aren't you now, Mr.. Grady?
In reality, aren't you a gold-bug,
yourself, Mr.. Grady? In this part Of
the world, man enjoying an income
Of six or seven thousand dollars a
year would be so regarded, especially
if he refused to take even part of this
income ''in anything else than the
constantly approaching gold coin or
its equivalent" You oughtn't to 60
back on your friends, Mr.. Grady.
Who, then, is to take the silver af
ter it is coined? Evidently you will
not, and your confreres, the bondhol-
ders and gold-bugs don't want it. Are
Mr. Grady? Ask them to think a
little about it. The price of their
cotton is fixed by Liverpool, in gold.
If they sell it for silver.s don't you
| know that besides the usual brokerage
and commission, they will have to
lose the difference in value between
silver and gold?
Don't you know that of all the sill
yer already coined, only very small
proportion has been forced into circu-
latiOn, despite the fact that the gov
crnment-"with its radical assump-
tiOn of soyereignty''-has declared it
Il full legal tender? Don't you know
than because it could not be forced
into circulation, the government
with its radical assumption of sover-
eignty"-has issued hundreds of mil
lions of silver certificates with full
legal tender quality to take it's place
as circulating medium?
Don't you know that nobody now
wants or ever will want these silver
certificates redeemed in silver?
Don't you know that even the poor
est of your constituents will not carry
| the price of a bag of cotton in silver
dollars minute longer than he can
have them exchanged into gold or
notes
Don't you know that the present
lack of confidence is due. not to a
| doubt of the ability of the United
obligations in money which is current
all over the world, but to the well
gro lnded fear-nay, worse still, the
positive knowledge-that just such
men as you will endeavor to pay every
body but yourselves in a coin which
you acknowledge to be deprecated?
Don't you know that only very
short time can pass, if your policy is
carried out, before this country will
Treasury, and lapse into the condition
| of Mexico, whose dollars, containing
more silver than the United States,
standard, are now quoted ON the New
York market at So cents?
If you don't know all these things,
and many more of like tenor, you
ought not to be offended, Mr.. Grady,
if | kindly advise you to study the ru
dimentS of finance.
OI1t | hn1
ant, even If you were so proud of your
very nice reply to my request, that
you couldn't wait for me to have it
printed. The trouble is, Mr. Grady,
that you and your colleagues have not
the moral courage to burst the cry
sails of the politician, and develop in
to statesmen. You are content to
pander to the clamor of the ignorant
majority of your constituents, because
you owe your position to their votes,
instead of listening to the prOmptingS
of duty and the dictates or your better
education. You must know that on
these poor and ignorant and deluded
constituents of yours, all the ills and
hardShipS incident tOca debaSed and
| fluctuating currency must inevitably
| fall most heavily. You must know
| that to foist upon these trusting de-
pendentS on your honor and honesty.
ElUy Ouu Genus anu calling tndU IL uOl-
| lar, is worse than robbery. You must
| know that your course in Congress
| has done incalculable damage to the
credit of our State for common sense
and honesty and will retard indefinit
| ely the development of our resources
and enterprises, because outside CAPT
| tai will never come to section whose
representatives, vote and speak for
practical reputation.
God speed the day when time-serv-
ing place-hunters and subservient
panderers to ignorance and prejudice,
shall no longer speak for North Caro-
| lima in the national councils at Wash
| ington, but must give place to leaders
| and teachers of unSelfiSh patriotism
| an enlightened craftsmanship.
Yours truly.
HENRY T. BAHNsON.
Salem, n. G. Sept. Goth, 1893.