The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-06-18

uoc,,rad A standard constituted of
money constantly increasing IN value
is not a sound, a single, o a stable
standard. but a constantly changing
standard.
The effect of gold monometalllsm is
to establish n standard for n credi-
tor and another for the debtor, and
there can be no more dishonest none
tarv 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 a rise in value of one metal is
counteracted by a decreased demand
and a fall in value by an increased de-
mand.
Under the operation of this benef-
cent law a stable relation was main
tanned between them in spite of the
most extreme changes in relative pro
auctions.
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
recognized. The subsequent policy hes
been to transfer this right to the credi-
tor, thus ending the constant increase
in the value of the dearer metal, and
destroy the parity between them.
SHOULD ACTALONE.
Believing that it is absolutely neces-
sary to reverse this Ubiquitous and
ruinous policy, we, therefore,
Resolve, That we favor the immediate
restoration of silver to it's former place
as a full legal tender standard money,
equal with gold, and free and unlimited
coinage of both silver and gold at the
ratio of 16 to 1, and upon terms Of
exact equality. That, while we should
welcome the CO operation of other
nations, we believe that the United
States should not wait upon the pleas
ure of European Governments or the
consent of foreign creditors, but should
themselves proceed to reverse the
grinding process that is destroying the
prosperity of the people, and should
lead by their example the nations of
the earth.
That the rights of the American peo-
pie, the Interests of American labor,
and the prosperity of American indus
try have a higher claim on our law
makers than the greed of foreign cred
itors or the aviracious demands made
by idle holders of idle capital"
The right to regulate its own mon
tary system in the interests of its own
people is a right which no free govern
ment IA barter, sell, or surrender.
This reserved right is a part of every
bond, of every contract. and of every
obligation.
No creditor or claimant can sat up a
right that can take precedence over a
nations obligations. than to promote
the welfare of its own people,. This
is a debt more binding than all other
debts, and one which it is not only dis
honest but reasonable to ignore.
Under the financial policy that now
prevails we see the land filled with idle
and discontinued working men, and on
every hand a growing army of tramps,
men whom lack of work and oppor-
tunity have made outcasts and beggars.
At the other end we find that a few
thousand families own one half the
wealth of the country.
The Capitalization of wealth has
gone hand in hand with the spread of
poverty. The pauper and the pluto
crat are twin children of the same
vicious and unholy system. The situa
! tlon is full of menace to the liberties of
; the people and the life of the republic.
The issue is Acknowledgement or hope
| less servitude. Whatever the power
OF money can do by debauchcry and
r corruption to maintain it's grasp on
: law making power will be done. We
: therefore appeal to the plain people OF
the land with perfect confidence in
, their patriotism and intelligence to
arouse themselves to a full sense of the
+ peril that confronts them and demand
the citadel of their liberties with a
1 vigilance that shall neither siumber
nor sleep.
FIGHT AGAINST EIBLEY
+ The fight over the principles laid
down by Sibley in his speech last night
began early inthe day, with no less a
man than Senator Isham G. Harris, at
the head Of the faction advocating
I simon pure Democracy. With him