The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1895-11-21


show that the full character of the
bill was not known-thau it was not
known at the time that the bill
demonetized silver.
He followed this with an announce
ment that from that date to this the
majority of the Democratic party
had been working to rehabilitate
silver. The single gold standard
was a Republican measure. He
analysed every vote on the silver
question taken in Congress since
1878 and showed that a great
! majority of Democrats had voted
every time for the tree coinage of
silver, except in 1898 when the
proposition to repeal the Sherman
law was up and at that time it was
because they expected to have an
opportunity to vote subsequently
| for substitute measure. And even
| then there was hut two Democratic
majority.
The single gold standard has never
| met with the approval of the majori-
| ty of the Democrats of this country,
| he asserted. There was no advant-
I age in having silver as money, he
said, unless it stood upon it's own
| feet.
He stated he did not intend to say
that a man who favored the single
| gold standard was not a Democrat,
but he did mean to say that the vast
majority of the Democratic party
had always been in favor of the
bi-metallic standard.
Mr.. Crisp exhibited small piece of
silver bullion which he explained
| of ho in
way, but if there was law allowing
it to be taken to the mint and coined
then everybody would want it.
He argued that the value of a
silver dollar should be a dollar. The
way to establish the commercial
value of silver was to restore it by
| rehabilitate it. Coin it at the ratio
it's commercial value. [Great ap-
plause] He illustrated ny showing
that when the Senate passed free
coinage bill several years ago the
bullion value of silver rose 70 cents
an ounce in ten days in the London
market.
You need not be apprehensive of
any flood of silver" he announced.
There was no country in the world
that would ship it's silver here to ex-
change it for gold. We had gained
gold under the operations of the
Bland-Allison law and under the
Sherman law. He believed that the
United States was sufficiently power
full to establish ratio between gold
and silver. Gold, he held, was too
valuable, He claimed that gold had
appreciated and argued his claim by
comparing it's purchasing power in
commodities now and before the
decentralization of silver.
'sOur people should be the pioneers
in restoring money metal which
has been used for all time but recent
ly stricken down. The stamp upon
silver dollar does not make 1T more
valuable in another country, but the
| right of the silver to be so stamped
increases it's bullion value"
In speaking of the value of cotton,
he SAID that though the cotton crop
appreciated SO per cent. in the
decade before the war, the price in
creased to 40 per cent. Though the
crop increased up to 1878 the price
also increased: but after 1873 the
price OF cotton deprecated because
of the approaching value of gold.
He read from the November report
of the Treasury to show that there
was $75 100000 less money in cir
culation now than one year ago.
All things being equal, the price oil
commodities is regulated by the
amount of money in the world. He
argued against paper money because
legislative bodies might be tempted
at times to initiate the currency.
In speaking of the final result OF
the fight for free silver, he said that
he remem bered when forty Demo
Gratis had stood up in Congress and
voted against tariff reform. By
their aid the Republicans had
stricken out the enactiDg clause OF
the Morrison bill. But the Demo.
cratic party had been persistent
in the fight and had finally won.
They had not gotten all they wanted
but the tariff laws now were infinite
~ superior to the laws oil d lew years
ago.
4 Under the present fl aancial system
: wages and labor had gone down.
The Republican experiment of a
single gold standard had not worked
to the benefit of the people of this
section. LET us return to the
bi-metallic money OF the Democratic
fathers
In speaking of the next Demo
cratic national convention he said
Georgia should define her position
on this financial ques ton. One OF
the questions to be decided was the
retirement OF the $500, 100000 OF
paper money. Ii the single gold
standard is to be perpetuated, that
money must he retired. In the DEM
ocratic convention he believed that
the views OF those people who elect
President should dictate the plat
form.
He vigorously opposed the bond
policy of the administration. He
believed the Treasury should have
paid out silver when the gold run
was made upon it. That would
have stopped the raid.
England dictated the gold policy.
The United States had the power to
change Is now-to establish BIZ.
metallism throughout the world.
If the United States would go for
ward ia financial legislation as it
had gone forward in it's fight for
liberty one hundred years ago, it
would render to mankind at large q
greater bles than was rendered
when we taught them that a people
could govern themselves
Big Forest Fires in California