The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1895-06-18

tion OF rising prices, large profits
general contentment and great pros
perity. to a condition of falling prices
diminishing profits, insecurity of inves
ment, unemployed labor, md heav
depression in all branches of trade an
industry. 1t is not matter Of dispute
even among the honest advocates O
the gold standard, that genera
prosperity came to an end with tn
destruction of the bi-metallic system
idle workingmen and widespread
depression came i'm with the golt
standard, and prevails today wherever
the gold standard has been adopted
Every international monetary con
ference that has been called, ever,
demand In this country and ia Europe
for an international agreement &c
re-establish the bi-metallic standard
is q confession that the demonetiza.
tion of the system was a blunder, II
not a crime, that its consequences
nave been disastIO Gus and that the
! conditions it has wrought are full OF
menace and of peril. The logic of facts
establishes beyond intelligent question
that the destruction of SILVER as
primary money, by u conspiracy Of
| widespread depression aud suffering
that began with the gold standard.
There can be no restoration of pros
perity, no permanent relief from pre-
vailing conditions until the great
cause has been removed by complete
restoration OF silver to its proper
place as money metal, equal with
gold. We believe in money of stable
value; we believe the least Of all in an
apDreciating standard it Is only
through the practical operation Of
bi-metallism that u stable standard of
value can be secured. A standard
constituted OF money constantly in
creasing in value is not u sound,
single nor stable standard, but
constar tly changing standard.
The effect of gold monometallsm is
to establish one standard for the credi-
Tor and another ford the I1eSSttsH' = and and
there can be no more dishonest
monetary system than that which
gives short measure TO the borrower
and long measure TO the lender. Under
the policy prevailing prior to 1873
there can be no violent change in the
relative value of the two metals, for
rise in value of one metal is counter
acted by a decreased demand, and
fall in value by an increased demand.
Under the operation of this beneficent
law a stable relation was maintained
between them in spite of the most eX-
treme changes in relative productions.
From the first 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 re-
been to transfer this right to the |
creditor, thus tending TO constantly |
increase the value of the dearer metal
and destroy the parity between them.
Believing that it is absolutely neces-
'ary to reverse this iniquitous and |
'uinous policy, we therefore resolve |
hat we favor the immediate restora-
lion OF silver to its former place as |
'ull legal tender, standard money,
equal with gold, and the free Naud |
unlimited coinage of both silver and |
gold at the ratio of 16 to / and upon |
,erms OF exact equality.
That while we should welcome the |
cooperation of other nations, we be-
ieve that the United States should |
lot wait upon the pleasure of foreign
governments or the constent Of foreign
but should themselves pro.
iced to overthrow the grinding pro-
less that is destroying the prosperity
If the people and should lead, by their
the nations of the earth
That the rights of the American
people, the interests of American
abor and the prosperity of American
Industry have a higher claim to the
of the peoples law.
makers than the greed of 70, eign
or the avaricious demands
made by idle holders of idle capital"
The right to regulate it's own none
ary system in the interests of its own
people is right which no free govern
nent can barter, sell or surrender.
This reserved right is a part of |
'very bond of every contract and of
'very obligation. No creditor or
claimant can set up a right that can
AXE precedence over a nations obli-
Masses OF its own people. This is the
lebt higher and more binding than
I'll other debts and one which is not
'nly dishonest bIt reasonable to
gnore. Under the financial policy
hat now prevails we see the land
illed with idle and discOntented |
and an ever-growing
lrmy of tramps, men whom lack OF
work and opportunity have made out
'asts and beggars. At the other end |
We find that few thousand families
'v'n one-half OF the wealth of the |
The Capitalization OF wealth has
zone hand in hand with the spread of
poverty. The pauper and the pluto
rat are twin children of the same |
'icious and unholy system. The situa-
ion Is full of menace to the liber ties
If the people and the life of the Re-
public. The issue is enfranchise-
nant of hOpeless saryitudo Wbotoyar
he power OF money can do by dcbau-
.hcry and corruption to maintain it's
yrasp on the law-making power will |
% done. We, tho"eforo, appeal to
he plain people of the land with |
perfect confidence in their patriotism |
ind intelligence to arouse themselves |
% full sense OF the peril that con-
ronts them and defend the citadel of
heir liberties with vigilance that |
hall neither slumher nor sleep.