The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1894-09-09
FOR AND AGAINST SILVER.
SPEECHES BY HOKE SMITH
AND SPEAKER CRISP.
THE GEORGIA CAMPAIGN OPENED.
The Speaker of the House Declares for
the white Metal and the Secretary
OF the Interior Against II A
Big Mass Meeting of Demo
Gratis at Atlanta-Pop
ulism Denounced.

ATLANTA, Ga, Sept. s.-A mass
meeting of Democrats was held in
this city last evening. The principal
features were the speeches Of Speaker
Crisp, reviewing the work of congress,
and of Secretary Hoke Smith against
the free coinage of silver Speaker
Crisp declared his personal preference
for free coinage of silver. Much en-
thusiasm was displayed. In conclud-
ing his speech Speaker Crisp said:
while we have not done all we
hoped TO do we have done more in the
past year to redress the wrongs of the
people; we have done more for their
relief than was ever done by any
party in the same length of time
IN any country under the
sun. These are bold words,
yet / hold myself at all times
ready TO defend them. Coming
into power at time of panic, when
business was at "A standstill, when
labor was unemployed, when our
treasury was empty; with courage
and fidelity We entered upon a strug-
gle with the enemies of the people;
we emerged from that struggle vic
torious in this:
We have repealed the Mckinley Law
We have greatly reduced taxation.
We have made living cheaper.
We have made all money taxable.
We have taxed surplus incomes
We have restored freedom of cleo
t;ons.
We have reduced public expendi-
lures. and we have declared undving
hostility TO trusts and monopolies or
ganized for the oppression of the peo-
pie"
Secretary HolIe Smith followed
Calling attention to the recent exper-
fence of the great states of Kansas
and Colorado under Populistic rule,
the secretary asked who would like
to see Georgia follow the leadership
of Lewelling or n 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 comprehension and shock
thoughtful men. They sought dis
bursements amounting in the aggre-
gate to over S25, 900, 900, 00O The peo-
pie of Georgia could not afford to in.
dorse such a party. The state would
&c disorganized locally and discred-
ited before the world il ,t appeared
to have even listened to their imprac-
ticable theories
Few of their beliefs were worthy of
discussion, but there was one which
seemed to have attracted attention
although when carefully investigated
it must be classified with their other
theories as almost equally wild and
impracticable. lie referred to the
fPap aud nplinifan - fes1
ut the ratio of 10 to / by the United
states alone, and declared it to be
plan utterly at variance with sound
business principles, and fraught with
incalculable evil He did not wish
his position misunderstood. He was
thorough bimetallist, strong in his
faith, and no one could be more un-
alterably opposed TO the adoption of
single gold standard. Such a course
would bring about a contraction of
the currency calculated to cripple
the industries and to lessen the de-
mand for supplies.
The injury inflicted by a single
standard currency had been recently
demonstrated abroad, and the evil
effects had been felt here upon pro
ducts of this country raisedfor foreign
consumption. lie believed these evil
tHttle MOulu nc AtSHtntu DN DfEhGFK-
ing the present per capita of currency
here; but where three fourths of our
great cotton product goes abroad,
three-fourths Of the injury could not
be reached except b. the success of
bimetalism in the place of consump-
tion. Currency in the United States
had not been contracted, but on the
contrary, the per capita to- day was
SAL as against an average of Sli. IS
from 1850 to 1860.
After sketching the history Of sill
yer demonetization by Germany in
1871 and subsequently by Norway,
Sweden, Denmark, Holland, Russia
and the nations comprising the Latin
union, Secretary Smith said:
lit is, therefore, evident that silver,
at a ratio of l6 to i, if unlimited coin
age was attempted in this country,
must either flood our mints with enor-
nous quantities of silver, which would
at once depreciate the value Of our
money, or it would be coined only in
reasonable quantities, and this could
not substantially affect the mercan-
throughout the world. In either
Syent Wa would be forced
TO the exclusive use of dollar worth
only little more than half the pres
ent dollar 1t would cause the settle
ment of all contracts at the rate of
so cents on the dollar. II would re-
quire the reorganization of all prices
TO be adapted To the new deprecated
currency 1t would compel a change
of all legislation in fixing salaries. IL
would necessitate the entire roadjust-
ment of the private and government
business of the United States TO meet
conditions caused By degraded dol
lar