Birmingham age-herald., 1895-07-03
the most, and thus keep them near a par

 l selected that which was the dearer. If 1 the secretary of the treasury had exer- I eised the right to redeem greenbacks and notes in silver instead of gold he l would have been able to maintain the re- 1 serve in the treasury.
 But he would not do this and was i thereby forced to issue bonds. The l bonds were sold for gold only. A man 1 With roll of greenbscks or treasury
 notes could not go to the treasury and | get any of these bonds for it. but he
 could demand gold for his greenback or 1 notes and with this gold buy the bonds. | When the first bond issue of $50,O00,OoQ 1 was sold last year S18,000 900 of the gold 1 paved for them was drawn from the | United States treasury. The second bond 1 sale resulted hepame and the only thing
 the people had to show for it was l large fixed interest charge yearly. The
 next bonds sold the purchasers had to
 agree to bring half of the gold from
 abroad. But we had to pay s1S.O00, GOO to | get half of the gold from abroad, and l then get the pledge of Morgan, Roths-
 child & Go. that they would take care l of us until October. We have gone into l the pawn-broking business and set up | with our uncle, who has three balls over | his window
 You sometimes find fault with the last | congress. It left undone a great many | things it should have done, and did | great many things it should not have
 done; but one thing give it credit for-it iNPhNiotNo tAiC AlOi ii-IeOtilotlAlll ciSoiSC- | ment.
 They say the credit of the government 1 is about to suffer- and they must sell | bonds, and when the bonds are issued | bankers have them, the people owe tEe l debt, and the government is not bene- | hted. It's an outrage that the credit of | the government is in the hands of bank | CTS who seek to heap debts upon it. So | long as we surrender the right to issue
 both coins, we are at the mercy of these | same men.
 France has not free silver, but both
 metals are legal tender, and the holder of
 "a note cannot demand gold.
 If France, with fewer people than we | have, can maintain the value of silver | why cannot we?
 l want to call your attention to this | overwhelming reason for using both gold
 and silver, that is, that there is not | enough gold to do the business of the world. All who advocate bimetallsm | admit that If there is enough gold, | then we do not need silver: if not, then it
 is crime not to supply sufficient money. | Had to choose between the two 1 l would choose the single silver standard. l Do not understand me to say that I | want the single silver standard. Do not | understand me to say that silver at Is | to 1 will give us the single silver stand | ard. Don't you know that not a dollar l can go abroad until foreigners give us | something for it? Carlisle says if all the | hints were running it would take fifteen l years to coin enough silver to take the 1 place of gold. It never occurred to the | gold advocates that we could build more
 hints or if we could not make them fast | enough we could issue certificates for | the bullion.
 | That is one of their great arguments. | If silver goes abroad we must get some | thing for 1t. If we give money for prop | erty it is because we prefer the property | to the money. Carlisle said if we have | free silver gold will disappear and sil- l yer dollars will become dearer. He says | also that the silver dollar is worth but | 50 cents. It is a novel process to see | dollar becoming cheap and dearer at the l same time..
 l I want to read from the really great | men and I want to quote from John Sher-
 man. for he is really a great man. He | must be when he can control his own 1 party for twenty years. and while the | democrats are cursing him, and then cap- | ture half the democratic party He must l be a great leader.
 The volume of money in a country | must keep pace with the population. You | know certain fixed relations between the | two must be observed Fifteen per cent | of the deposits of a bank must be kept | in reserve. We are told that the bank de- | posits are an index of business that in- | creased deposits mean returning pros- l perity Then if population continues to | increase and business is good, deposits l must increase also, and the 15 per cent | reserve cannot De maintained. 1 John Sherman says bankruptcy and l ruin will follow a contraction of the cur l rency. Blaine said. the destruction of sill 1 yer was destructive to all investments l except fixed incomes.
 | Is it possible that the men who profit l by contraction of the currency are infu- l enced by it being money in their pockets? | The farmer says he advocates free sill l yer because it is good for him. the la | borer says the same. Does the capital l let ,4 f I,I,t 1 advocacy of the gold standard? No; he l says he favors gold standard because it | is good for the laborng people. The | sound money men are willing to bear | the disadvantages of a gold standard l because it is good for the laboring people. l If Secretary Carlisle had been in sym | pathy with the masses of the people in- 1 stead of the Rothsehilds he would not | have issued the bonds and heaped $162,- 1 900 GOO debt upon us. | read from John G l Carlisle where he denounced Secretary | John Sherman for being in sympathy
 with the idle holders of idle capital. If what he said then was true, it is true to- | day, and if it was not true then he did 1 Sherman a great injustice, and should | apologize for the injustice done. It is l true that the secretary of the treasury | seventeen years ago was controlled by 1 his sympathies; may it not be true that 1 the secretary of the treasury is now con- 1 trolled by his sympathies?
 If the secretary then coined just as little money as possible, may not the | same be true now?
 | The speaker read from speech de- | livered by MT. Carlisle seventeen years | ago on the money question, and said: There was statesmanship | for you, thsre was a bold l aggressive leader; there was the Moses | leading the people out of bondage But | who would have imagined that within | seventeen years he would have been in command of Pharaoh.s army? It's Car | lisle's sympathy with the idle holders of | idle capital that leads him to deal with | foreign syndicates to maintain the treas | ury reserve.
 | Carlisle said then that the misery | caused by the consummaton of the | scheme decentralization of silver) would | be greater than that caused by all the | wars, famines and pestilences the world | had known. And it is because we believe | those words are true now that We have met here tonight.
 They call us demagogues, and seek to read us out of the party. Many men had ( 1F