Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1894-04-19

II1OUdlS Lids D00n 3 SudIduG0GO Dy u0C-
esSary legislation, then the coin
age of silver and gold without
dissemination against either metal
or charge for mintage.' y Did
either of the. three PREREQUISITES
as named above exist when Mr..
Cleveland vetoed the bill? Ger
tainly not. We all know that
gold and silver are not intrinsi-
cally equal. We also know that
the value of the two metals has
not been adjusted by interna-
tional agreement, and we know
equally as well that there has
not been a single act passed by
Congress since the adoption of
the platform guaranteeing the
parity of the metals.
Now the platform says at least
one of these is necessary before
any further silver legislation was
necessary.
The two houses of Congress vio-
lated the plain demands of the
platform When they passed the
Bland bill before first obtaining
one or more Of the pre- e-requisi-
ties of silver coinage. Mr.. Cleve-
land plainly obeyed the platform
in letter and spirit when he We
toed the bill. The platform in
sists on the policy sustaining the
parity of the two metals. Unless
one or more of the prerequisites
had existed the Bland bill would
have tended directly to destroy
that parity. Why? Simply be
cause gold and silver are on a
parity now from the fact only
that the national treasury pays
gold for silver (or its represen-
tative. treasury notes. on de-
mand and at the option of the
holder. Should the treasurer OF
of the United States refuse fol
one week to pay gold for treas
ury notes. silver certificates, etc,
gold would go to a premium and
the parity Of the two would be
destroyed at once. If [ cannot
exchange evenly a silver dol
larwith gold dollar, there
is no parity. If the ma
tional government will not dc
this for the citizen itself, we
need not expect the citizen tc
exchange evenly with each
other. Had Secretary Carlisle
refused to pay gold for currency
notes on demand he and Mr..
Cleveland would have violated
not only the policy of law, bur
the emphatic demand of the Chi
cago platform which insists OF
the parity Of the two metals be
ing maintained. Therefore, since
the governments promptness tc
pay gold for silver is the only
law that can maintain the parity
of the two metals, it follows tha
the treasury must be supplied
with sufficient gold to meet every
demand for that metal. The
President informs us that there
is little over one hundred mil
lions of gold in the treasury. Tt
be more correct, as | copy from
a table published in the Journa
of few days since, it is in rounc
numbers S1O9, 900, 900, Now
(still using the Journals table,
there are outstanding and in cir
culation which could at will b,
presented to the treasury to-mor
row, if it was physical possibilit,
for redemption and exchange fO,
gold, the following amounts:
Gold certificates, $40, 900, 900
silver certificates, 1881, 900, 900
treasury notes, act of July IA
1850, Sal, 900, 900; United States
notes. 1928, ,O00,00 currency GER
tifcates, act of June 8. 1892, $47,
1000, 900. Add the silver coin il
circulation, which amounts t.
lS114, 100000 and we have th'
enormous sum of 1896, 900, 900, t.
Fbe kept on a parity with onl,
1900. 600, 900 of gold. The Blanc
bill would have added its S55,
1000, 900 to the enormous load ou
lS1O7, 900, 900 of gold is already
carrying. Besides all this th'
Interest and redemption of 1916,
| 900. 900 of bonds are chargeabl
| to this gold. Under these cir
Icumstances is there any wonde
that President Cleveland hesi
Itated long and finally refused t.
sign the Bland bill? Is Their
any wonder that Carlisle had tt
| to issue bonds to obtain addi
tional gold, or that the Chicago
lconvention was wise and pruden
|enough to demand such prere
Iquisites as they did before urging
more silver currency? 1t seem
to me, as Mr.. Cleveland says, i
would be wiser to make some ad
lditional safeguards to the gol'
reserve in the treasury, If we ar
lgoing to continue to maintain th'
equality of every dollar at al
times, ETC., as our platform, ant
the legal policy of our govern
ment guarantees.
| No, Mr.. Cleveland has violate'
tno plank of the Democratic plat
form, nor has he violated an.
oath or duty to the geat masse
of the laboring people of thi
great country How senslbl
men with these facts before then
can charge him with violatin:
his party obligations and usin'
his office in the interest of tn