The Caucasian. (Clinton, N.C.) 188?-1913, 1893-06-15
ANOTHER ON s.sJkhIs.
The New York World, of May 18th,
pnbl,xhed a three column article un-
der the following heading
.poog MIfLIoSAIgE>.
stock and ss"sd -.ruri~'f~~ ~aEa"s 20"
Million since New b"1r's

POOR Vii IiDSAIEI--
-ta~t and r.si -~ruri~ff.~ -aSa1s 700
Million since New Year,,
|, then proceeds to give the opin-
ions of Leading Wall street u.agnatts
or the cause of the shrinkage. They
atftlbut., IL to the Sherman law
which they declare must 1e repeated
at one. Mr.. Benedict. national
banker ana TO. tn friend IF the Pres
iden;. CONES forward "ith silver
bill which b. says j. the very ldentI-
cal thing We need. Let Us qnote
from the Word:
Mr.. Benedict has plan for the
financial salvation IF this country.
The plan is EN- bodied in a pamphlet.
NJ. Cleveland has that pamphlet and
has sent for another. Secretary sa:-
isle has it and admir'- il greatly.
Senator Proctor, of Vermont. has
sand that he would vote to repeal the
sherman act and 10 substitute for II
an act based on that pamphlet.
THE pamphlet includes II plan
which should cheer the silver men
and sootha the geldbug. The plan
is Guaranteed to meet the required
conditions and maintain the value
aud the purchasing power of the sli.
yer dollar equal 10 gold. The idea
i This, briefly
when the Government issues IA
dollar in silver that l. not WORTH =
dollar IN gold. the Gov"rnme III
makes a profit. Very we'll, let that
profit be put into a fund Ia he kept
,fely, 50 that the man VIII" has a
silver dollar will know that he has
the silver which is i'll the dollar and
his share of that profit which has
been set aside with the object of
keeping the silver dollar which
should be as good as gold"
Comparisons may be odious but
they are sometimes wholesome.
Farming lands and labor products
have shrunk in value millions OF dol
lars more under our present system
than have the stocks and bonds OF
these money kings. Many million
more people have been injured by
this shrinkage than are injured by
the furry in Wall street. Injured
farmers and laborers have prepared
their measures of relief and asked
that they be made laws. Has Mr.
Cleveland ever troubled himself with
one of their pamphlets Has Sec'y
Carlisle ever expressed bis admlra
ton for them9 Has Mr.. Proctor
ever limited that he would help make
them laws9 Have not these same
farmers and laborers been impudent
ly requested to ''quit bowling anC
90 to work ?" Yet their demands
are just. A rumble in Wall stree
must receive the immediate attention
of the heads of government, but mil
lions of mortgaged wealth producer
must wait upon expediency.
But what of Bosom-friend Bene
diets bill 1t means this, the gov
eminent can buy the silver in ,
standard silver dolla, for about sixt,
five cents. 1t can coin this and max
about thirty-fve cents on it. Thu
35 cents, instead of helping to pa,
taxes, is to be boarded up Gin gold
and belongs TO the owner of the sill
yer dollar, and is held by the govern
ment to redeem the silver dollar
Who wants a silver dollar redeemed
So long as it is full legal tende
the laborer can buy as much and pa
, as much with it as he can with til
, gold dollar. Why should he want
f redeemed in gold ? He does not. |
is the banker who expects to make
profit out of the gold basis who want
f silver redeemable in gold. Wha
would be the effect Of this law z?
, In the first place the government
! would have to raise seventy-two mi
e lions of gold either by new bon
: issue or more taxes to be hoarde
o up to redeem what silver is alread
s in circulation. SO says Mr.. Benz
diet. This means a seventy-twO mi
o lion contraction of the currency an
q more interest bearing bonds. Fac
: silver dollar which the law would pl
!. into circulation would take 35 cen
4 in gold out of circulation. TIL
y would prevent any wholesome e,
s pansion Of the currency. Siiy.
q would remain mere commodi,
v mea sured by gold. This would pr
il vent any departure from the presel
g enforced single gold basis.
# But we have not the space to sbo
= up the manifold evils embodied
- this bill which interests Mr.. Clev
h land so, and which had its conce
II ton in the brain of man who. u
v der the forms of law, has obtaiut
e SO large a portion of the veal
o which belongs, by right, to labo
d The time has been when Wall sire
81 measures could be forced down II
J. threats Of the unsuspecting poop
d but that time, We hope, is past.
70 Mr.. Cleveland wants to ruin an owe
st burdened people he has only to i
Is wife the cooperation of Wall sire
p genius.
% JAMES 3. LLOYD.