The Caucasian. (Clinton, N.C.) 188?-1913, 1895-08-29
"wHyI FAVOR FREE SILVER. =
Hoe. =. ?. Ssh sAses. sf Alsssaa. yesls ts
. r.w WerSs why Ne Oppss~s sAs 0esa
standard s.A Why Ne vavess the Ers~
and Uslimts~A Collage eG silver.

Hoe. =. 2. Jsh sAses. sf Alsksaa. yesls ts
. Few WerSs why Ne Oppss~s sAs 0esI
standard s.a Why Ne vavers the Ers-
.sA U.ii.ss-A Coinage sG silver.
The New York Mercury OF r~cen,
date contains . communication from
Captain Joseph r. Johnston, Of
Birmingham. in answer to the ques-
ton. why l favor free silverf''
Captain J. r Johnston is profoundly =
versed on financial and economic
questions and has perhaps rs much
invested in banking as has any man
in the south. He is a patriot, how
ever, and prefers to make his profits
ont Of a prosperous rather than .
poverty stricken people. The fol-
lowing 10 his communication:
81 favor the free coinage Of silver
because l am opposed to falling
prices for wages, commodities, and
land aud property; because ! favor
preserving the parity between money
on the one hand and property aud
labor on the other; because the aver
age annual increase Of the worlds
population reaches 10, O,OO0, 900, and
the entire product Of both silver and
gold, available for money purposes.
would not give more than SIS per
capita for this increase.
''In the United States We have
about $4OO, 600, 900 of gold. Against
this, paper money in the shape of
treasury notes, certificates, national
bank notes and other paper ipdebt-
edness, redeemable now in gold ag-
gregates nearly or quite $3.50, ,OOO. 900.
In other words, there are about t&o
paper dollars now demanding, or
authorized to demand, gold to where
there is one dollar to anwer that de-
maud. No wise man would increase
this unequal struggle for redemption,
and therefore no paper currency can
be had to support the legitimate de-
mand for money.
81 oppose the gold standard be-
cause it would require the worlds
product of gold (available for money!
for ten years. added to our own stock
to pay the taxes alone demanded an
nually of the people of the United
States.
mo country ever prospered with
a small circulating medium. The
United States. being an undeveloped
country. requires more money than
England or France. There is not
enough gold money in the world to
pay the debt of the railroad com
panies of the United States.
81 favor the coinage of silver be-
cause l believe that the very day our
IL iuts we're opened to 1t, every silver
producing and silver using country
IN the world would commence trans
ferring their trade to the United
States, and that we should witness a
tremendous development of our
manufacturing interests, and that
demand for our products would bring
widespread and lasting pl osperity to
our country.
"The people of those countries
would prefer to trade with us be-
cause they could pay in their own
money, and not be forced to sell i,
for gold in order to settle their debts
II favor free coinage because ]
believe it will enhance the value oi
our products and the wages Of oul
laborers, and because l believe nc
pei manent or healthy growth can bs
had when the producing classes
cannot get reasonable rewards fol
their labor and skill.
JOSEPH F. JOHNSTON.
[How can q man holding thess
views stay in party which is ownet
and run by the goldbu9sf Will
he join the Peoples Party ant
vote his convictions as expressed
above. or will he vote for a part,
that will pass laws to make q ''pov
| ertY-stricken people. ED