The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1895-06-07

~NA"OAOA VI N~A AOhOACcs duu pIOAHIsCc
to pay, but it is what may be called i
the money of ultimate redemption;
that is to say, the fund which is to
redeem all these currencies and
promises to pay, and which is con-
sidered the security fund for the
payment of all these promises, or
currencies, circulating as money.
We know that from the founda- /
ton of our government up to the
passage of the act of 1873, silver
and gold, equally and alike, consti- !
tuted the security or ultimate re-
demption fund, and were equally
the basis of our financial system,
being the work of our greatest and
wisest men, Endorsed in our consti-
tuition, and adhered to in all our
public policy up to 1878; that not
only was this the case in our own
country, but it was substantially the
case througOut the civilized world,
and had been substantially through
out the worlds history, silver and
gold being recognized as constitu
ting their security, or ultimate re-
demption fund, and their amount
throughout the world being very
nearly equal in value.
Such being the case, the logical
and necessary result of the domoni-
tization of silver-that is to say, its
destruction as part of this securi-
ty fund, and as measure of value
is to cut down the fund of ulti-
mate redemption one-half in amount
and necessarily, to appreciate
in value the other part of the
redemption fund to the extent
of the difference in the amount
of the fund, and correspondingly
depreciate in value and reduce in
price everything that money can
buy.
To this destruction of the bime-
tallic system, we attribute mainly
the tremendous and disastrous
decline in the prices of all property
and products during the past'twenty
years.
We deliberately and emphatical-
ly consider the said act of 1873, it
taking the lead in destroying the BIZ
metallic system, as the most expert
and superb exhibition of grand lar
ceny ever perpetrated in the history
of the world.
And, however mighty i'll its re-
suits, or however lofty or respect
able the position of those who plan
ned it, and perpetrated it, we
have the distinct and en-
emphatic testimony, on record, of
dozens of members of that congress.
including such men as Senator Thur
man, Beck, Voorhees,, Blaine and
Garfield, that they were unaware of
the acts containing this result, and
that denomination was passed un-
der the method of the e'sneak thi eff.
We consider the unwarranted
and unauthorized appropriation of
the term ''sound money to the
gold basis alone, and the attempt to
brand men who are supporting
what had always prior to 1873 been
the money policy of our country,
and the world at large, as cheap
money advocates, as not only a SLAM
der on our past financial history, but
a gross impertinence to the Ameri-
can people, whether it proceeds
from congressman, committees, cabi-
nets or boards of trade, and we as
sert that we do not meet here in the
interest of cheap money, but of
common fairness and of sound, hon
est money.
We further declare that, while
disposed to give due weight to the
commercial bodies, which are sup
posed to be students of finance,
and all concerns included in that
indefinite term ''business interests, -
we yet very much fear that opin-
ions and convictions in that circle
are entirely too often adopted at
second hand from interested sour
ces at the business centers instead
of representing original or well con-
sindered views of the advisers.
We also fear that the congestion
of money at the money centers and
its scarcity elsewhere for business
purposes is attributable somewhat to
the gambling policy in futures, which
has been sustained and defended by
the business interests aforesaid, if
the business interests of the country
are content to be represented by or
CARNATIONS which have supported
this policy. Therefore,
Resolved, That we believe in
common honesty, and in sound
money, and so believing, we are in
favor of silver and gold and of their
coinage at the ratio now fixed by
law, equally alike and without
discrimination, as we recognize
both alike as the primary money of
the country.
That we are in favor of the free
coinage of both gold and silver at
the ratio of l6 to l, as heretofore.
We do not agree that our finan-
cial policy or legislation should de-
pend upon that of other countries,
Il l. Il