The Caucasian. (Clinton, N.C.) 188?-1913, 1894-09-20
Senator Jones Tells Why
CONTINUED from First Page ~

They may h=set be characterized In tn*
slang Of the dag a. "chestnuts
With one honorable exception among
stafcs nut distinctly recognized IA silver
producing statas-that If California-the
silver resolutions and planks' OF Repub
ilcan conventions are IN substance the
same r solutions that were 80 frequently
passed at Republican state and national
conventions bcfsre the rrpo.llug at Of
last year.
Dust Thrown In the Eyes of silver Repub
lican- and silver Democrats.
All those resolutions and 50 called sill
yer planks ar. the same sort Of dust that
for many years has been thrown into the
eyes Of silver Republicans and silver Dem
ocrats to blind them sufficiently long {"
permit II particular election TO bc held and
To secure their votes for that election. II
those convention. favored the free coinage
u silver by the United States mt the ratio
Of IS To / without regard TO the policies
Of foreign governmental the English Ian
glIage is sufficiently oOpious to enable
them u say 40 The repeal Of the act OF
lS9J-fCr the purchase clause WAS all there
was of it-demonstratcs more plainly the
position Of the Republican d. well rs of
the Democratic party on the silver qucs
tIoH IMAM any Pi'A4A '''A A4I@I4 -" ~! d"
platform.
And Joab said to Amasa, Art thou in
health, my brother? and he smote him in
the fifth rib. -
Those Republicans who still entertain
she idea that their party may take up the
silver cause do not fully understand the
position Of its leaders. With the excep
lions which have noted, all those leaders
are proud to be known not rs national
but rs international bimetalllsts. No
"pentup Utica contracts their powers
They propose to enter into partnership
with the governments Of Europe in respect
30 n matter which the constitution places
snlsSy III the keeping of our own national
legislature. The idea they implicitly hold
forth i that the process Is very simple;
| elat nothing Is needed but to call IL confer
| enCe of the nations and have the whole
matter arranged to the satisfaction OF the
| American people. They are willing to
concede that we in this country may have
| free coinage Of silver provided we can in
! duce European money lenders to foregQ the
unjust and unearned increment which
| they are deriving from the pCrsistently ap-
prcciating value of gold.
| The leaders of both parties very well
| know that there will be no further inter
| national conferences for many day; that
no person in authority here or elsewhere
wishes one called and that, if called, such
a conference would accomplish nothing
| whatever.
Great Britain has had a single gold
standard law on its statute books for pear
| " 80 years and does not propose to adopt
| bimetallism, though If it did it would be
at ratio which the silver using countries
! would never accept-a ratio not far re
moved from 80 to /. According to all pO-
litical economists Of rcpute, the value pos
sesscd by any monetary unit such as a
dollar, will depend, other things being the
same, upon the number of units or dollars
out Now, a quantity Of silver which at
the present American ratio of IS to
would produce 500 600, 600 would under
the other ratio produce but $25, 600, 600
So that, even leaving out of count the
necessary closing of the vast majority OF
silver mines. the change would enable the
creditor Glasses of the world to accomplish
a monetary contraction greater than was
ever known in the history of time
A Sample of the British Friends of .Inter.
national Agreements"
The money lenders of Great Britain dc
not propose to concern themselves in any
| way WIN DlDtttlI1Sln ICy are uO1Dk
much better under the present arrange
ment. Yet our Republican leaders pretend
to suppose that, although the bondholders
and national bankers of this country Will
| not permit government to go to free
silver coinage, the bondholders and bank
ers of Great Britain will permit their gov
eminent to do SO. How do the banking
classes of Great Britain look on the ques
tiOn1 Let me quote from the testimony OF
| Mr.. Bortram Curric, who is at the head OF
one of the greatest banking houses Of
London given before the British roya
commission on gold and silver (SeconC
Report of Royal Commission, pages ii anc
45):
QuestiOn-no you think that fall Of
prices due to an appreciation of the stand
ard is no evil?
Answer think that fall of prices i:
no evil.
GA fall of prices due to a cheaper
production Of commodities would be {
gain?
Al ask no questions as a consumer
fall in prices benefits me.
Q.-1S it not a fact that, owing to The
low prices, large tracts of country thai
, were formerly proGtably cultivated il
England have gone out of cultivation al,
are now producing nothing;
Aft that is so, it is because they arr
unsuited to the production of these com
. modities.
Q.-But l am speaking of land which
produced these commodities at great prof
not very long ago:
A-That is the general fate of man
kind Somebody else has found that h,
can produce them cheaper and better.
Dwell, we will deal with the qucs
ton Of mines, They can produce only
what is in the mine. If, owing to TIE
. present state of things, business has
ceased to be able to be conducted at
profit, that many mines were shut up anC
that thousands of people were out Of en-
ployment, would you still say that thai
was no evil at all?
Al would not say that 1t is no evil
but 1t is a necessary evil and on tina
would correct itself.
Mr.. Currie here means that the difficult,
would correct ITSELF by starving out tn
miners, which is quite true. AS a ''neces
sary evil it is not a matter with which
people in his class concern themselves. a
consumers they ASK no questions
when they find producers starving by rea
t son of the artificial and unnatural fall @
: money volume-a contraction created TO
the very purpose of depressing prices.
2 Upon Mr.. Currie's admitting that tn
r fall in the gold price of silver bullion ha
been one of the causes of the fall in TIL
! price of wheat he was asked the question
: Then we have arrived at this, on yorl
/, own admission-that there is one indus
! try which has been iniuriously affected b
the fall in the price of silver2"
To this he answered, There is one con
modify the price of which has been low
e cred by the fall in the price of silver"
: Answer of English Bankers to the Deman
For Bimetallism.
A few further words from his testimon
will give his summing up of the situs
: ton He said: | believe in the inherite
Y preference for gold. q know til
I feeling of the class to which belong. an
a.. | know that any change is diamctricall
l opposed to our feelings, and that wha
Il ever change is made, TO whatever exter
:, we can, we will be clear of it If We len