Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1894-03-14

You take China and India With
their countless numbers of popu.
lations, and the rapid strides to-
wards civilization they ars max.
king, it will take ali the silver anc
gold TOO, and more besides, to dc
the vast business that will be car.
ried on.
England gives silver a black eye
whenever she can possibly do so
Why? Why is it that both politi.
cal parties of England hold the
samo financial views? Being the
largest creditor power by far or
the globe, if she controls the gold
and can force gold obligations, il
gives her a peculiar grip on the f.
nanciel reins Of the world. Is'it 6
wonder England wants the United
States to measure by her yard
stick when she has more than fif.
teen billions invested in this coun.
try? If I am correctly informed
about seven-tenths of the civilized
world now uses silver as standard,
just suppose now that they were
forced to change to the gold stand
ard, what would be the result? We
would have the greatest revolu-
tion known to history, or the peo-
pie would be burdened with obli-
cations that infinite time would
never enable them to pay. With
all the hostile legislation to silver,
Mexico with her silver standard,
has wonderfully maintained her
credit, and sustained her business
relations. Let the gold standard
be adopted there, and the people
would be up in arms in twenty
four hours. Values would tum-
BILE like water falling over a preci-
pice.
Strike down silver, and a the same
time, down goes your cotton and
your wheat; we have only to COM
pare the figures to see how forcibly
this is illustrated. I have never
known why Secretary Carlisle is
sued fifty millions of gold bonds;
we hear so much about Inc de-
cMse in the gold reserve, was it
t4fll up the gap? Suppose anoth-
er inroad is made in the gold re-
serve, guess another fifty millions
will be placed on the peoples
shoulders. 1t seems to be the law
to give an individual (tbe Secreta-
ry of the Treasury. the power to
contract obligations without oon-
sulting either bfanch of Congress.
or anyone else?
: This Isl great country of ours
her products cannot be equalled in
the world, but when we see all of
the money concentrated in one
section of it, something is obvious,
ly wrong.
You take the two great political
parties of this countrp, and, on fl,
nancial questions, they are hand
in glove with the East, as opposed
to the South and West. There il
plenty of money, but we must look
to them, who can make times easy,
or bring on panic at will, and
the recent session Of Congress ma.
terially aided them.
If statistics are true the ratio ot
money per capita has been great,
ly reduced in the last twenty
years.
Let US suppose that we have the
free coinage of silver. Could not
the law be framed so that all out
standing obligations should be
paid in gold that the contract call,
ed for2 This would forever put a
rest the argument of the gold mer
that they would be paid in dishon
est money. But all succeeding
contracts could be redeemed il
either gold or silver. You would
certainly see no mere gold bonds
issuec as We have just had. o.
course with the credit the United
States has, the gold standard could
be maintained for long time, but
it would prove an everlasting bur.
den to the people. The producel
will find his products gradually
cheapened, his burdens gradually
grow heavier, but we cannot tell
exactly why it is.
Talk about over-production be,
ing the cause of our evils, when
throughout the length and breadth
of cur land you hear the cry of
starvation During the Exposition
in Chicago last fall I was forcibly
struck with this state of affairs,
when [ saw congregated OH the
lake front three or four thousand
men demanding bread; no work,
no money, starvation. At the same
time wheat was cheaper than ever
known.