The Caucasian. (Clinton, N.C.) 188?-1913, 1894-11-01

fII-d Z, Republican Tariff and it la, tried
d, It,Inocratic Tariff TO cure the Di-.s ass.
ui Contracting our Mnncy t" the GoId
I;t-i- -tsId Obtained no kelief---Ihc Pe0-
pies Ttfty - the only Parfy in Favor of
I..in"neEilinC Nitvrr---It il the only Par
Is ~ favor of thc People.
UNITED STATES SENATE,
WASHINGTON, ID. c., Oct. Y, "a.
To the Editor of THE CAUCASIAN:
The transfer Of the Republican
and Democratic parties from
.u- p-ople to the money pow
rrs by Senator Sherman and Mr..
Cleveland, has resulted in retro
Grade movement in Europe and
America towards the conditions OF
the Dark Ages. If these two gen
tIemen and their cOadjutOrs can
make the title Of the gold conlbina-
tIOn to the masses of the people as
GOOD as they have already done to
the old gold parties, free Institutions
must give way to gold barOns and
3crfs.
The demOnetization Of silver has
destroyed more than One-half Of the
metallic C money of the civilized
world, doubled the value of money
in the hands Of the banks and other
members of the gold mbination,
and reduced the price of the prop
erty of the people more than one
half. The iron hand of contrac-
tJou binds the limbs Of enterprise.
The interest and eXtortIon are ab
sorbing the wrecked fortunes of the
sons of toll. The contract between
the boundless wealth and ostenta-
tious grandeur of the gold combi-
nation and the masses of the people
struggling for food and clothing,
marks the approaching end Of free
government.
The reduction Of the worlds me
talHc money to gold alone, is the
most radical financial evolution in
history, ana is the moving cause of
universal distress. When the reyo-
luton was inaugurated, uneXam-
pied prosperity existed III Europe
and America. Twenty years of
abundent harvests and profound
peace cannot be the cause Of Univer-
sal distress. The disaster is the re
suit OF no natural cause. No such
cause has been or can be asst gned.
Vicious Legislation and maladminis-
tration are the only possible causes
for the disaster Of the present time.
The distress is universal IN Europe
and America, and the vicious legis-
lation and maladministration must
have been equally so, Tariff laws
have been constantly changing i'll
all the nations involved in the pr, sent
disaster. The results Of such chang
es are limited and confined to few
interests involved.
Hard times prevailed between
1910 and 1850, when gold and sill
yer mining was interrupted by the
panish-American wars. Times
were good from 1850 to 1873 while
the supply of gold from California
and Australia was abundant. Dur
ing each of these periods there were
frequent tariff changes in the Unit
ed States and in every country in
Europe. The effects of those chang
Is were not local, not unluer5ae, and
what effect the tariff has locally has
always been and still is a disputed
question.
Since the demonetization Of silver
until the last session of Congress We
had a Republican tariff, and times
constantly grew worse. We now
have Democratic tariff, and times
are no better. Neither high Eepub-
lican tariff nor low Democratic tar
if will relieve our distress 1t Ger
tainly will not materially affec ct the
people of Europe. The disaster
which is impoverishing the people
Of the Unitet States and Europe at
the same time and in the same man
ner is not the tariff, civil service re-
form, prohibition, or any other ques
tion local to this country. The
United States and all EuIOpe have
demonetized silver, doubled the pur-
chasing power of gold, and reduced
prices more than fifty per cent.
This legislation is common to all
tue countries which are not afflicted
with falling prices, hard times,
want and misery. No other cause
of the distress is common to all the
afflicted countries. No country
which has not committed the crime
of demonetizing silver has suffered
depression. India was more prosper
Gus than ever before until silver
coinage was suspended in that coun-
try year ago last June. Before
that time she had no difficulty IN
promptly paying $8O,OOO,OOO to pay
in gold as interest on her bonded
debt, because of the increase Of her
productions and her growing ex-
ports under the benign influence OF
a sufficient value of money to pre-
vent falling prices. SINCE the sus~
pension Of coinage, she has been
compelled to borrow $3O,OOO,OOO
to pay interest on account OF
decreasing production and declining
exports.
Japan and Mexico, and all other
silver standard countries are more
prosperous than eyer before. These
examples show that any great gold
standard country, and particularly
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