The herald., 1894-09-08
CRISP AND HOKE SMITH.
The Former FavOrs Free
Coinage.
And the Latter Emphatically
Condemns 1t.
Both Speak at Democratic Rally at
Atlanta.
Crisp Reviews tho Work of tho Fifty
Third Congrsss-smfth Dsnouncss
tho Pet Theories Of the
Populists. al
By the Associated Press.

ATLANTA, Ga., sept. IA mas5 meet
ing of Democrats WAS held in this city
this evening. The principal features
were the speeches of Speaker Crisp re-
viewing the work of congress and of Sec
retary Hoke Smith sgainst the free coin
age of silver. Crisp declared his per-
sonal preference for the free coinage OF
silver. Much enthusiasm was dis
played.
Crisp. after reviewing the work OF
congress. said: "a law and practice
which allows a citizen to pay his obliga-
tions to the government in silver, and at
the same time permits him to demand
of the government gold in redemption OF
it's obligations, is manifestly unreason-
able and unjust, and in the nature Of
the case must impair confidence anu
tend to produce panic.
"a protective tariff fosters and builds
up trusts and m onopolies, 1t creates
no wealth, only prevents its natural and
Just distribution. Thirty years of such
system did much to produce the con-
ditions existing when the fifty third
congress met. What has that congress
done for the people? The first matter
considered was the financial question.
We had pledged ourselves against the
mskeshifty sherman law. and in favor
of both gold and silver as the standard
money of the country. BY an agree
ment arrived at between the Democrats,
we determined to take the sense of the
house on the free and unlimited coin
age of silver at several ratios. After full
debate square vote was had on each
and the repeal Of the purchasing clause
OF the Sherman act.
while not protesting to understand
the question fully in all its bearings,
have always been in favor OF tho free
coinage OF silver. / am in favor of it
now"
The speaker then rehearsed the con-
test in both branches of congress over
the tariff bill. and compared the differ
ences between the Mckinley and Wilson
bills. Speaking of the senate bill, he
said that while it did not give all he
expected, it was the best that could be
obtained under the circumstances.
"It strikes at trusts and monopolies."
he said. 'It reducsa the coat of the
neceasaries OF life. 1t to soma extent
opens our markets ut home and enlarges
our markets abroad. 1t promotes agri-
culture, it encourages manufacturing
and it will add to the comfort OF millions
OF our fellow citizens"
Here Mr.. Crisp turned to state matters
and spoke OF the commercial interests.
Opening his remarks, Secretary Smith
reviewed the financial troubles of the
past Is months and congratulated the
south, as well as Georgia, upon the ex-
csllent showing made. The attention
OF the commercial world had been at
tracted, and he predicted for that eco
ton period of development and marked
prosperity such as it never before ex-
perienced. The cotton states and inter-
national exposition would prove OF great
assistance in this work, but the attention
of capital once secured. it's confidence
must also be won, and it was, therefore,
of the utmost importance to the iuture
welfare OF the state that in the coming
election the people of Georgia should
show the world that the wild theories
of the Populists had no foothold amongst
them.
Calling attention to the recent expe-
rience of the great states OF Kansas and
Colorado under Populistie rule, the Sec
retary asked who would like to ses
Georgia follow in the leadership of
Lleweling or Waite. Bad as was
the record OF the third party in the
west, the crazy theories OF their leaders
in congress were enough to stagger COM
prehension and shock thoughtful men.
They sought disbursementss amounting in
the aggregate to over $25, 600. 900. 900. Tbs
people OF Georgia could not afford to
endorse euch a party. The state would
be dieorganized locally and discredited
before tie world, if it appeared to have
even listened to their impracticable
theories Few of their beliefs were
worthy of discussion; but there was ono
which seem ed to have appeared attract
i've, although when carefully invssti-
gated it must be classified with their
other theories as almost equally wild
and imprecticsble. He referred to the
free and unlimited coinage of silver at
the ratio of l6 to l by the United States
alone, and declared it to be a plan
utterly at variance with eound business
principles and fraught with incslculable
evil. He did not wish his position mis-
understood He was Thorough BIZ
metallist, strong in his faith. and no
one could be more unalterably opposed
to the adoption Of single gold stand
ard. Such course would bring about
@ contraction OF the currency calculated
to cripple the industries and TO lessen
the demand for supplies. The in
jury inflicted by single stand
ard currency had been rece,>lv demon
strated abroad, and the evil effscts had
been felt upon the products OF this coun-
try, raised for foreign consumption. He
believed the evil effects would be lcss-
ened by preserving the present rer capi-
1. L.. k...t
three-fourthe of tie injury could not bs
reached, except by the success OF BIZ
metallism in the places OF consumption.
Currency in the United States had not
been contracted. but on the contrary.
the per capita today was s2i.l9. as
against an average OF $l4.95 from 1850
to 1860.
The secretary then described the
eight different kinds OF money now used