The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-07-17
BUSINESS MEN AROUSED.
Anti-Free Coinage Organization in
North Carolina.

Anti-Free Coinage Organization ir
North Carolina.
The Stree silver" men have for sew.
eral years had things pretty much
their own way. That is, they have
met with no organized opposition be.
cause they have been in such hope
less minority that the sound people
have not taken the trouble to
organize to protect our National
credit and keep our dollars as honest
as possible. Now that the free silver
ties are meaacing our currency and
credit system, the sound money peo-
pie, who believe in common honesty,
are organizing in all sections of the
country and are rapidly changing the
outlook for the free coinage Of silver.
The prospects now are that the silver
mine owners, who have for ten years
been investing heavily in the free
coinage propaganda, will not realize
Oh their investment. Recent expert
ence OF the silverites in Arkansas, Mis-.
souri,, Kentucky and other States
which they supposed were solid for
free coinage at 16 to l, indicate rough
sailing ahead for their craft. The l6
to people are driving a blow at the
business interests OF the country, and
they must expect to encounter bitter
opposition.
One of the most recent sound money
organizations is the Democratic Sound
Money Club, of Wilmington, n. c.
This club was formed on June q,
principally by the business men Of
Wilmington, who usually take but lit
tie interest ID politics. 1t is said that
there is not al active politician in this
organization. The club has adopted
a declaration Of principles, the fourth
paragraph Of which reads as follows:
"We assert that universal expert
ence teaches that it is beyond the
power OF any Government to make
gold and silver circulate as money IN
unlimited quantities at a ratio that
does not correspond with tue market
values of the two metals; and we be-
lieve that the passage Of au act by the
United States alone providing for the
free and unlimited coinage OF silver at
a ratio Of 16 to l, when the market
ratio is 32 to l, instead Of inaatlng
the currency and causing an advance
of all prices, as commonly believed,
would, in the first instance, lmmedl-
ately drive out OF circulation 629,-
ooo,0 OF gold dollars, give US pure
silver monometallism, and contract
the existing volume of currency to the
extent OF about one-third, create an
instantaneous scarcity of money, dis
arrange Mi business calculations, de-
ter all persons from entering into
contracts, AMI, in fact, paralyze in
dustry, throw innumerable persons
out OF employment, and cause lm-
measurable loss and suffering.
We assert that those who claulor for
free and unlimited coinage of silver
enormously call themselves "blmetal-
lists" and we demand that they point
out how the parity now being main
tained between gold and the various
enormous issues both OF silver and
paper money can be continued, ex-
cept by the confidence OF the holders
thereof in the ability and intention of
the Government to exchange on de-
mand the one for the other"
A similar club is to be formed at
Concord, cotton-manufacturing
town, with Paul B. Means and others
>at It's head, and clubs are to be formed
in number OF towns and cities in this
State, especially ct the manufacturing
centres. At the tobacco-manufactur-
ing town OF Durham, the Recorder,
the oldest newspaper in the State, and
one which has been preaching free
coinage for years. will hereafter
advocate sound money.
Similar clubs are being formed at
Concord AMI other manufacturing
centers in North Carolina.