Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1894-05-30

ment dictates; some may favor tie
free and unlimited coinage Of sill
yer at one ratio and some another
Some may favor the subtreasury
plan of the Alliance and after a
consultation in caucus they vote
for or against either proposition,
when tie occasion arises. Nobody
is bound by the caucus, unless he
chooses to be bound. No oaths
are administered, no pledges are
exacted as requisites of party
fealty. If there were I would never
attend a party caucus.
In regard to demand first of the
Alliance, Twill say the sub-treas-
ury plan has been abandoned, and
therefore it is unnecessary to dis
cuss it. In my judgment a bet
ter system would be attained ty
the repeal of the 10 per GEN. tax
or State banks of circulation, and
T trust the Alliance will take that
up and make it one of the de-
I cannot, of course, dis
cuss this proposition at length in
this connection, but take the
liberty of handing you one of my
speeches, delivered in the Senate
at the last extra session, in which
I have attempted to elaborate the
argument il favor of the repeal,
and beg you to do me the favor to
examine it. l think that you will
find that if this tax should be re-
pealed we seould have "a safe,
sound, and flexible currency and
enough of it. I favor the free and
unlimited coinage of silver and
gold at the present legal ratio of
16 to l, and advocated it before
the Alliance was organized, and
am gratifed to know that tie
Alliance has adopted my platform
on this subject. Fifty dollars per
capita is not 100 much currency
like ours, but the trouble with our
present financial system is not SO
much the per capita amount OF
currency as the inequality OF its
d distribution. Some cections Of the
country have much more than
fifty dollars per capita, while in
our sections, doubt if We have
dollars per capita. If in our
State, we, could be guaranteed
twenty dollars per capita, if SO
much was needed for the transac-
ton of our business, | would
on that; we should
then have about twenty millions
of currency III circulation, whereas
I doubt if we now have two mil
lions. If by the repeal of the IL
per cent. tax the States should be
permitted to authorize banks of
circulation, we should have just as
mnch cvrrency rs our-lccal wear;
and no more, but We
should have enough. I favor an
income tax, and shall have an op-
p portunity to vote for it in the
pending tariff bill. I concur in
the demands that the money of
the country should be kept as much
as possible III the hands Of the peo-
pie, and that all national and State
revenues should be limited 20 the
necessary expenses of the govern
ment, economically and honestly
administered. This is good, sound
and I heartily subscribe
to it. l can see no objection to
Postal Savings Banks, although
measure of that kind, would be-
largely tentative in this country,
and should be adopted with
caution and circumspection.
The second general demand as
to the public lands, is sound and
in accordance with true blue
Democratic principles,
The third general demand shat
the government should own and
operate the railroads in the interest
Of the people, and that the 'tele-
graph and telephonel ines should
be owned and operated by the
in the interest of the
people, would, in my judgment be
impolitic and unwise. I have al
ways understood that the Alliance
was opposed to the further increase
of the bonded debt of the govern
ment. and l agree with the Al
lance in that prosposition. The
government could not pay cash
for the one hundred and ninety
odd thousand miles of railrads,
and the vast mileage of telegraphs
and telephones. The rate of taxa
ton necessary to raise the cash
would destroy the people, and the
only alternative to put the govern
ment in ownership of the railroad,
telegraphs and telephones would
!. t- ;-,,,o hondc IN Inv the rail