The people's journal. (Pickens, S.C.) 1891-1903, 1895-11-21

single gold standard has met with the
approval OF the majority of Democrats
of this country, he asserted. There
was no advantage In having silver as q
money, he said, unless it stood upon its
own feet.
He stated he did not intend to say
that man who favored the single
gold standard was aot Democrat, but
he did mean to say that the vast major
ity of the Democratic party had always
been In favor OF the bimetallic stand
ard.
Mr.. Crisp exhibited small piece of
silver bullion which he explained
could not be used as money in any way.
1t could not be used with which to
purchase commodities, but If there was
d law ..iow ing il 10 Do taken to q mint
and coined then everybody would want
it. Hc agreed that the value of sill
YER dollar should bo q dollar. The
way to establish the commercial value
OF silver was 70 restore it by legisla-
tlon to money standard, to rehablli-
tate 1t. Coin 1T at the ratio of 16 to !;
that would re-establish it's commercial
value. Great applause.)
llc Illustrated by showing that when
the Senate passed FREQ coinage bill
several years ago, tho bullion value OF
silver rosc % cents an ounce in ten
u"yS III INC LOnuOn market.
You need not be apprehensive of
There was no country in tho world
that would ship its silver here to OK
change it for gold. We had gained.
gold under tho operation Of the Bland
Allison law and under the Sherman
law. He believed that the United
states was sufficiently powerful to
establish ratio between gold and
silver. Gold he held was too valuable.
lie claimed gold had appreciated and
argued his claim by comparing its
purchasing power in commodities now
and before tho demonotization Of silver.
Our people should be tho pioneers
in restoring a money metal which has
been used for all time, but recently
stricken down. The stamp upon q sill
YER dollar does not make it more vnlua-
bic IN another country, but the right
OF the silver to be so stamped increases
it's bullion valuo" In speaking of tho
valuo Of cotton, he said that though
the cotton crop appreciated 80 per
cent. in the decade before tho war, the
prico increased 10 per cent. Though
tho crop Increased up to 1873, tho price
also increased, but after 1873 tho price
OF cotton deprecated because of the
value OF gold.
OF the Treasury to show that there was
$75 100000 less money in circulation
now than one year ago. All things
being equal the price OF commodities
Is regulated by the amount OF money
in the world. Ho argued against pa
por money because Legislative bodies
might bo tempted at times to initiate
the currency.
In speaking OF tho final result Of the
tight for FREQ silvor he said that he re-
mbercd whom forty Democrats had
stood up in Congress and voted against
tariff reform. BY their aid the Re-
pnblicans had stricken out the enacting
clause OF the Morrison bill. But the
Democratic party had been persistent
in tho fight and had finally won. They
had not Cotton all thoy wanted, but
the tariff laws now woro infinitely su-
pcrlor to the laws of Il few years ago.
Under tho present financial system the
wages OF labor had gone down. The
Republican experiment Of q single gold
standard had not worked to the benefit
of the people Of business. Let us re-
turn to tho bimctallism of the Demo-
cratic fathers, look around you and
you will find in our poverty a monu.
mcnt OF the single gold standard.
In speaking of the next Democratic
should define her position On this f.
nancial question. One Of the questions
to be decided was the retirement OF
the $500, ,W)O,OOO OF paper money. If
the single gold standard is to bo per-
petnatcd that money must be retired
In the Democratic convention he be-
licved that the views Of those people
who elects President should dictate
the platfornl.
He vigorously opposed tho bond
policy OF the administration. He be-
lievcd the Treasury should have paid
outsilvcr whom the gold run was made
upon it. That would have stopped the
raid. England dictated the gold policy.
The United States had the power to
change it now-tO establish bimetallism
throughout the world. II the United
Statos would go forward in financial
lcgisiation as it had gone forward in
its fight for liberty one hundred years
ago, it would render to mankind at
large q greater blessing than was
rendered when We taught them that
people could govern themselves.
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