The Caucasian. (Clinton, N.C.) 188?-1913, 1895-06-20

psice OF commodities and = persistent dvind-
ling IN the margin Of profits in almost every
branch Of useful industry
Such . sySt<n - . premium upon sl0sh
and penalty upon the industry, and such
system ID ths; which the criminal leKialasaoa
OF 1873 has imposed upon the country.
sIxFTAlLnx AYrnovrp sr ExPHhiKNcr.
The bin<sallists' standard Of silver and
gold has behind il the experience Of ages
and has bean tested and approved by the CO.
nEhtened and deliberate JUDGMENT Of MAN.
kind. The gold standard IS . departure
from established policy OF the civilized
world, with nothing - recommend !, bu;
ter TO the people, and extraordinary Acrumu-
lAtion OF wealth in the hands Of the few
There are some facts bearing upon this
question recognized and admitted by all
candid men. whether advocates Of birnetall-
ism or Of the single gold standard Amcns
these - toe fact that the yery year that
marked the change from the bimetAllic to
the single gold standard is the very year
that marked the change from . condition OF
rising prices, large profits. general content
nenS, and great prosperity. TO . condition
OF falling prices, diminishing profits, inse-
and heavy depression in all branches Of
trade and industry. Ii Is not . matter OF
dispute, even among the honest advocates OF
oldthe standard that general prosperity came
TO an end with the destruction OF tie bi-
metallic system, and that hard times, falling
prices. Idle workinRmen, and wide pread
depression came in with the gold standard
that prevails to-day wherever the gold stand
ard has been adopted Every international
monetary conference has been called; every
demand In this country and in Europe for
an international agreement to re-establish
10 m IA IL sfa "A av6 10 u nm haf
the demonstration of silver was q blunder
if not crime, that its consequences have
been disastrous, and that the conditions
that it has wrought are full of menace and
peril. The logic Of facts establishes beyond
Intelligent question that the destruction of
SILVER IS primary money By a conspiracy of
selfish interests Is the cause of the wide
spread depression and suffering that began
with the gold standard. There can be no
restoration of prosperity, no permanent re-
lief from prevailing conditions until the
great cause has been removed by q complete
restoration of silver to its proper place as a
money metal, equal with gold,
We believe in money of stable value.
We believe least Of all in an approaching
standard. 1t is only through the practical
operation of blmetallism that stable stand
ard of value can be secured A standard
constituted of money constantly increasing
in value is not a sound, a single, nor . stable
standard, but q constantly changing stand
ard. The effect ofigold monometallism is to
establish one standard for the creditor and
another for the debtor, and there can be no
more dishonest monetary system than that
which gives short measure to the borrower
and long measure to the lender. nder the pol
icy prevailing prior to 1873 there can be no
violent change in the relative value of the
two metals, tor rise in value OF one metal
is counteracted by a decreased demand and
a fall in value by an increased demand.
Hinder tho nYorQfinnG nf his honpficQnt law a
stable relation was maintained between them
inspite OF the most extreme changes in rela-
tive productions. From the earliest period of
| our history up to 1873 the right of the debtor
to choose whether he should pay his debts
| in silver or gold coin was always recognized.
The subsequent policy has been to transfer
this right to the creditor, thus tending to
constantly increase the value of the dearer
metal and destroy the party between them.
| Believing that 1t is absolutely necessary to
reverse the iniquitOus and ruinous policy,
we therefore
| IMMEDIATE FREE COINAGE DEMANDED.
Resolve, That we favor the immediate
restoration of silver to its former place as I,
full legal tender standard money, equal
with gold. and the free and unlimited COIN
age of both silver and gold at the ratio of l6
to l and upon terms of exact equality.
That while We should welcome the Co
operation of other nations, we believe that
the UnlLcO SCaU6S SQOulu nOt Wall upon the
pleasure of foreign governments or the con-
sent OF foreign creditors, but should them.
selves proceed to reverse the grinding pro-
cess" that is DESTROYING the prosperity of
the people, and should lead by their example
the nations of the earth.
, That the rights of American people, that
the interests of American labor, and the
prosperity of American industry have a
higher claim to the consideration of the peo
pies lawmakers than the greed of foreign
creditors, or the avaricious demand of idle
= holders of idle capital" The right to regu
late its own monetary system IN the inter
} ests of its own people is a right which NJ
, free government can barter sell, or sur
, render This reserved right is part o.
, every bond, of every contract, and of every
:, obligation. No creditor or claimant can Sc
up right that can take precedence over
nations obligations to promote the welfar
of the masses of its own people, This is
!. debt higher and more binding than sill othe
r debts and one which is not only dishonest
e but reasonable to ignore:
+ Under the financial policy that now pre-
walls, we see the land filled with idle ant
= discontinued workingmen and an ever-grow
:, ing army of tranps-men whom lack
i work and opportunity have tmade Ioutcast
t and beggars. At the other end we find tina
= few thousand families own onehalf tn
1 wealth of the country. The centralizatlol
+ of wealth has gone hand in hand with tn
r spread of poverty. The pauper an and tn tn
vicious and unholy system. The situation
r is full of menace to the liberties of the PEG
e pie and the life of the republic. The issu
d is enfranchisement or hopeless servitude
: Whatever the power of many can do by d.
bauchery and corruption to maintain il
grasp on the law-making power, will
done. We, therefore, warn the plain peopl
= of the peril that confronts them and urR
e them to defend the citadel of their ibertie
5, with vigilance that shall neither slumbe
8 nor sleep.
" TO PROMOTE THE SILVER CAUSE.
$ The reading of the resolutions wa
n frequently interrupted by tumultu
: GUS applause, and they were adopte
with hurrah without discussion.
The following resolution was ais
v presented and adopted:
l. Resolved, That a committee composed I
Y one member from each State be appoints
D. by the delegates thereof IN this convention
~ whose duty it shall be TO correspond wit
theirepresentatives and advocates of bimets
49, lism and bimetallic societies in the differe
= sections of the union, and devise measur
y to advance the cause of bimetaliism throug
at out the United States.
n That this committee shall have power
w whenever, in the opinion of the committt
"a the cause of bimetallism can be advanc
-, thereby. Said committee shall have pow
~ to fill all vacancies.
10 The following rational commit
lis was appointed to call national s
w yer convention at its discretlo
Il Alabama, John w. Tomlinsor; Arka
an sas, Charles Coffin; California, Ale
ey ander Delmar; Colorado, A.
ne Rucker; Georgia, N. w. Longl'
oe Kentucky, j. A. Parker; Louisial
~ ~ Senator Blanchard; Missouri, j.
e's Gage; Nevada, c. S. Nixon; Nebrasl
III C. J. Smith; North Carolina, Mari
w. Butler; Ohio, F. G. Scott; Pennsyl
; in A. C. Hopkins; South Carolina,
for W. Stokes; Tennessee, John K G'
err win. Texas, j. S. Reagan; Virgin