The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1895-07-12
CARMACK AND YOUNG,
Tennessee's Distinguish ed
Sons Address the People
on tho Silver Question.

rm,sly estimated at from 400 to 600
people.
1t had been expected that Hon.
John Allen, of Mississippi, Congress-
man Terry, of Arkansas and Governor
Clark would be present upon this occa-
sion, but circumstances prevented their
coming. Hons. f. w. Carmack and
Casey Young, of Tennessee, and Z. d.
McCulloch, congressman of this dis
uict, were on the program for addresses,
and arrived promptly.
The day was fair. The thermometer
comfortably low. The beautiful
grounds at Stuart Springs had been
laid with seats and speakers platform
erected. Early in the morning the
yeomanry began to gather from the
uttermost parts of the county, and a
large number of patriots from neigh.
boring counties were noted among the
visitors. The Forrest City band. in
their handsome new uniforms, fur
nished music, meeting the train from
Memphis, and rendering a series of
choice selections on the platform and
on Washington street during the fore.
noon, and at intervals on the grounds
during the afternoon.
At / o'clock Hon. p. D. McCuloch.
whom all here know and are proud to
honor, stepped to the front of the plat
form and in short, impressive address
of ten minutes, stated the object and
import of the gathering, and the gray
ity of the occasion, Paying him merited
compliments Mr.. McCulloch then intro
duced Hon. E. w. Carmack of Memphis,
who, in a remarkably clear and com.
prehensive manner proved the FEAST
bility of independent free coinage, re-
futed the arguments of the goldbugs,
illustrated the evils of gold monometal-
lism and made an unanswerable ar
gument in favor of free, unlimited,and
independent coinage of silver and gold
at the present ratio of l6 to /.
He successfully ridHuled the idea of
0verproduction as the cause of falling
prices and widespread depression
among the industrial classes. Admit
ting for the sake of al gument that the
free coinage Of silver would drive all
the gold out of the country, and that
all the silver in the world, which could
possibly be reached, would be dumped
UPON our shores, it would only increase
the circulation IS per capita, and he
exploded the false tenet of the gold
monometallist that this country would
go to silver recommendation.
He illustrated in a very striking
and convincing manner that money
was largely the creation of law, and
That bimetalllsm would give to the
debtor the privilege of paying his debt
III the cheaper money. and that the de-
mand thus crealed would act as a
guage, keeping the two metals at par.
lie proved conclusively by little an
ecdote that the decentralization of sill
Yer In 1873 was the cause of subsequent
depression and the panic of 1898. The
theory held by the gold bugs that im-
proved machinery and enlarged trans
prtation facilities, etc, is the cause
Oh falling prices, was shown TO be
ethereal and without foundation in
TACT. because improvements have heen
steady and constant for ceaturies, and
The present depression dates frou the
Year 1878. Twenty-Five years Of ex-
perience, and that OF terrible suffering
and stagnation i'm business, does not
prove gold recommendation to he right.
air. .Carmack spoke for two hours,
and covered every phase of the ques-
Ton, successfully controverted many
OF the arguments used by John G. Car
llse and more especially by Hon. Josiah
PATTERSON. He was frequently inter-
fup'ed by applause and yells OF thur
ran for Carmack 7" and at the conclu-
Sion of his address took his seat amidst
oediehlng 0utburSt of approval and
endorsement of the cause he so skill
fully advocates.
Mr.. Carmack has been heretofore
well known here by reputation rs the
brilliant editor of the Commeyciai.Ap
peal. He is now spoken of as editor,
ofator and statesman, and the Hon.
casey Young. who was next introduced
PAID glowing and deserved tribute
to his genius.