Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-07-11

49, NV ~ A"NNA
Of silver existed IN tho United States.
Nature has designed both metals for the
uses TO which they have been put. and
no other metal can be substituted in the
place Of silver. The gold men are
advocating the free coinage OF gold, alone,
while the silver men are only asking TO
be allowed to come m on an equal foot
ing with gold, and advocate the free coin
age Of both metals at a fair aud equal
ratio. BImetallism is their watchword.
Remember that silver mining has been
carried OF in eighteen states Of the union,
Disaster n ruin are staring us In the
face, and the only remedy rs FOR congress
When 1t meets In extra session on Aug
18th, TO repeal the Sherman Act and sub
stitute In Its place the free coinage Of
both silver aud gold ct the ratio Of 10
to /.
The next speaker was II. r. Ferguson
Of Albuquerque, who said:
Mr.. Chairman, Ladies and Gentlemen:
Within the past few days many Of the
advocates Of free coinage have been ask
ing what good can be done by gong to a
silver convention. With the administra-
ton hostile to silver and congress large
ly bribed by patronage the weak kneed
advocates of free coinage are ready TO
give up the fight. They should be ami
mated by the spirit Of the Greeks under
Leonidas. The very spirit that made
them nerve themselves in the hour Of
their adversely made them victorious
over the hordes OF the barbarians. I
think that Of all times now, unless we
have been convinced by the arguments
Of the gold bugs, IL we believe that we
are right, il we believe that we should
have bimetallism, now is the time that
we should speak out. We should speak
out in this silver convention not ouly
because Of the bold front OF the money
power, not only because the power OF
England has d~emonetized silver in India
but because this silver convention has
been called at a time when the enemies
Of silver seem almost lnvincible in their
power. Many men would be here but
for the fact that they are absolutely un-
able to come. 10000 men are out
OF employment In Colorado; min
ers, railroad men and laborers.
The mines have closed down, the rail
roads have no coal or coke to haul, the
merchants can find no market for their
goods and must cut down expenses.
This depreciation in the price Of silver
has thrown 10000 men out OF employ
ment with all that that means. Women
aud children will be without clothes or
bread and dependent on their husbands
and fathers. So powerful has been the
greed for gold that, under the lead of
England, the great money power, this
country has fallen from it's high estate
and we are actually confronted by the
prospect of the starvation Of the labor
ing classes of this country. To go into
this question fully in the limited time
which | have would be like attempting
to harvest a thousand acres of wheat IN
an hour and a half. Does the amount Of
money in a given country regulate the
price Of commodities? / do not mean
by money checks or credit, but that in
which debts must ultimately be paid. 1
mean the money of ultimate redemption.
Here the speaker quoted the sayings of
a number OF the most eminent states
men Of Europe to show that the amount
Of money in circulation had a direct
bearing on the price of commodities.
AS illustrating the injustice Of the de-
monetization Of silver in 1873, he said:
Suppose a man in 1879 buys a farm for
$4,000. He pays $1,000 down and gives
a mortgage for the balance. Wheat is,
we will say, S1.25.a bushel, and the farm
er reckons that he can pay the mortgage
in five years and buy the necessary i'm
plements which he needs on the farm.
Two months after he buys the farm sill
yer is demonotized and in 1898 he Is still
owing the mortgage and wheat is 60
cents a bushel. 1t will take more wheat
today to pay off the mortgage than it
would to have bought the farm twenty
years ago and his property has so depre-
ciated in value that Notwithstanding all
he has paid he cannot cell his farm for
the balance due on the mortgage.
Now is the time to agitate this ques-
ton and TO make ourselves beard. L be-
lieve that the Sherman law will be re-
pealed in August. I fear that the Pre-
sident, by the influence Of patronage,
will be able to repeal the Sherman law
without any other substitute. 1 don't
care what the President of the United
States believes on this question. III do
clare my belief. I believe he is wrong.
The attendance at this silver conven-
ton would have been larger but within
the last few days many mines have been
closed down. Men who have saved a
few dollars to come may need It next
week to buy their children bread. The
most odious OPPRESSION, TO my mind is q
moneyed aristocracy. I'd rather he con
trolled by the Car of Russia than be
ground down by a moneyed ~aristocracy
Now is a good time TO have another
declaration Of independence; not q
declaration Of independence of the King
OF England, but we van another declar
alton Of Independence, a declaration OF
independence Of the money power Of the
world that is trying to enslave the mass.
es regardless Of country lines. AS my
friend Judge Trimble says, aud he gots
off the expression 10 every speech he
makes "Eqnal rights to ALI special pri-
Vileges to none" That is what we want.
With silver at sl29a an ounce when il IL