The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-11-06
SENATOR STEWART
WRITES A LETTER TO THE
LANTA DAILY PRESS AT
The Populist Party is the opIv
the American People. "OPe Of
United STATES Srm

WASHINGTON, D. c., Oct 90 y,
The transfer of the R~epublicon %,
Democratic parties from the naon,o ana
the money powers by Senator Sba p.0 70
and Mr.. Cleveland has resuItoS lan
retrograde movement in Eurono N a
America towards the Condition L
dark ages. Ii these two gontI 'ne
and their coadjutors can make thu 4nT
of the gold combination to the .''le
of the people as good as thew ba"&
ready done to the old gold parties a.
institutions must give wav f. nSs
barons and serfs. eolu
The demonstration of silver hos
stroyed more than one half the r,otou w.
money of the civilized world donII
the value of money in the hands ~ az
banks and other members O. tho n"I9
combination, and reduced the nrieo ~
property of the people more than oro
half. The iron hand of Contracts
binds the limbs of enterprise, Tntaroat
and extortion are absorbing tbo
wrecked fortunes of the sons of toll
The contract between the boundIoo,
wealth and ostentatious grandeur ~
the gold combination and the masses
OF the people struggling for food and
clothing, marks the approaching end
of free government.
The reduction of the worlds metallic
money to gold alone is the most radical
financial revolution in history, and is
the moving cause of universal distress
When the revolution was in~augurated
unexampled prosperity existed in Eli.
rope and America. Twenty years Of
abundant h~arvests and profound peace
cannot be the cause of universal dis.
tress- The disaster is the result of no
natural cause. No such cause has been
or can be assigned. Vicious legislation
and maladministration are the only
possible causes for the disaster of the
present time. The distress is universal
in Europe and America, and the vicious
legislation and maladministration NUT
have been equally so. Tariff laws
have been constantly changing in all
the nations involved in the present dis,
aster. The results of such changes are
and confined to a few interests
involved.
Hard times prevailed between 1910
and 1850, when gold and silver mining
was interrupted by the Spanish Amer.
can wars. Times were good from 1880
to 1892, while the supply Of gold from
California and Australia was abun-
dant. During each of these periods
there were frequent tariff changes in
the United States and in every country
in Europe. The effect of those changes
we're local, not universal, and what
effect the tariff has locally has always
been and still is a disputed question.
Since the demonetizing of silver until
the last session of Congress we had a
Republican tariff, and times constant
II grew worse. We now have a Demo
cratic tariff, and times are no better.
Neither high Republican tariff nor low
Democratic tariff will relieve our dE'
tress. It certainly will not materially
the people of Europe. The dis
aster which is impoverishing the peo'
pie of the United States and Europe at
the same time and in the same manner
is not the tariff, civil service, reform,
prohibition, or any other question local
to this country. The United States
and all Europe have demonetized sl.
yer, doubled the purchasing power Oh
gold, and reduced prices more than oO
per cent. This legislation is common
to all the countries which are now al
with falling prices, hard times
want, and misery. No other cause lot
the distress is common to all the atnIc'0a
countries. No country which has no'
committed the crime of demonetlHlnS
has suffered depression. Inol"
was more prosperous than ever O0,Oi0
until silver coinage was suspenaea
that country a year ago last Jun d.
fore that time she had no dlt1culEy
promptly paying $50, 900, 900 in gOla ~
interest on her bonded debt because "
the increase of her productions anu nol
growing exports under the benign
auence of a sufficient volume OF mOuI!
to prevent falling prices. SINCE Wv
suspension of coinage, she has DeoT
compelled to borrow $50, OOO' WV " P@3
interest on account of decreasing P-'
iuction and declining exports
japan and Mexico and all otnerSnrU.
countries are more P lOo
ous than over before. These e1an na1n,
o-oot Gold stanQaEu w.