The Caucasian. (Clinton, N.C.) 188?-1913, 1895-07-04
MORE WORK
OF THE ENEMY.
pas.1ess Men Fighting Free Silver
10 Please The Powers That
Lend Them Money.
NEW PHASE OF THE FIGHT

A NV hhoh VI 49, =
.,r,rp rirms Trying to Influence
.n,osro verch.nts- With Whom They
,..,,,.,t,-s --snine samples Of Letters---
OH. the, seem to be- What They Are.
Vr.a.. last week synopsis Of
In.rpy.. If the work Of that "!2
v..,u street Reform club and
,s, m .audB they are pursuing.
r,r uu.ut to he sufficient To make
,.r, uu.rty and justice loving man
rams. uu,clt and try to see that
L.tL rdr- of the issue of the day
.gaU b.. r,ad by the people. But
,1,t j.. .o' al. The gold bug work
pr-mclung. The shylocks are
rr, n. ,arir retainers take a hand,
nd Nh. result is that big business
hmm. ru the North are writing let
~. ,o men in the South, with whom
they do business, in the interest of
hr goId basis.
A, Illustrating this phase of the
rcai fight we present "a sample or
two. They are shrewdly written,
and they must he carefully studied.
line hy line, to obviate the false i'm
preston they are designed to create.
Here is one written 10y the II. b.
| Chniu company, of New York, to
Mr. j. T. Grimes. of Thomasville,
North Carolina
INIT rrmes.
rhomasville, NC.
ba. N,r-rhe panic of 1893 was
| caused by the fear that the silver pur-
| rbs,r- of the United States were about
To bring the country to a silver basis.
This fear lead primarily to abnormal
eo!dcNport- and To boarding of gold.
T 4, gold disappeared the panic grew.
| when the panic became general all
Kind, ul money were boarded without
| much discrimination, because many
person, feared that all financial insti-
mtiou, might be- ruined, and in unrea-
| ,NllllH dldI Ul bHty al
| kind OF money would be safer than a
| bank account. When the bill repeating
J. the silver purchasing clause of the
| sherman act passed the House of Rep
re,entatiyes by a vote so Overwhelm-
ing that it seemed certain that the bill
would ultimately become law, the
| panic subsidized. The very day after
the vote in the House of Representa-
typs the situation changed radically
For the first time i'm four months mo-
uey was offered to merchants, and the
acute phase OF the panic was at an end
Depression, however, continued
| while the senate debated the bill, but
| signs of rccuperatiOn were not want
ing, aud distinct Improvement be-
| gan when the Senate cOncurred with
| the House in the repeal of the silver
purchasing clause. This improvement
was stopped by the government pro-
grammc for radical changes in the
tariff. Every merchant knows the
diSCouragements and losses of the last
two years of uncertain and falling
prices. Now we nave reached the
bottom; we have felt the full effect OF
the new tariff; prices which have been
abn0rmaIly low are beginning to i'm
prove, and the outlook for business is
encouraging.
Shall we invite fresh panic by con-
Sldering free silver coinage in the
United states without the concurrence
OF other nations?
Nothing can be more certain than
that free coinage of silver at the ratio
OF sixteen to one by the United States
alone, would result in scramble for
gold. This would cause an immedi-
ate contraction of loans and a general
financial panic would inevitably ensue
business would then be paralyzed once
more, and another season of calamity
would be upon us.
Those who wish to see better prices
lor all commodities must remember
mat the consuming power of the peo-
pie depends on their earnings. The
oppression which always follows
panic throws many persons out of em.
pOyment, and for a long time after
,ne panic, many remain unemployed
Neare now slowly recovering from
'hepanlc of 1893: every month the
consuming power of the people in
VreaSes. Let this consuming power
steadily grow and it will soon catch W
WIN any temporary excess OF tn
worlds supply of commodities, ant
IlaS surely and safely produce higher
prices. Check this consuming powel
panic, and Il vast increase in th'
number of the unemployed will depres
prices more than free coinage of silve
can raise them.
Free coinage Of silver by the concur
rent action of the great nations would
we believe, be of decided advantage t.
ue world. Since the United State
ua ceased to take care of large pro
pCrtlon of he worlds silver, that is
Nltnln year and half, bimetalli
No'lment in France and Germany ha
Increased more than in decade before
anu the silver question in those cOun
u't' now commands the attention O
''elr foremost statesmen.
LeI the good work go on; let tn
aL@uroptan nations struggle with tn
ItNer question without relief from tn
nn''ed States, and the prospect of a
;;n'erhatlonal agreement will rapid
Improve. But if the United State
uleS to solve the silver question alOn'
os oiF VIII Mt once relieve other nation
%S pressing problem which they sc
Sot! s"n oe safely met only by cOncurrer
"I,oh OF The commercial powers.
s;rree coinage of silver at the ratio Q
siIA.eeh sIAeh To one by the United State
s"I one would invite panic, calamit
r,u p.' disorder. 1t would put this cOur
"s onto mono-metallic silver basi
bu sbu oy driving gold out of use wOul
voiIuptly and dangerously contract tt
'',uille OF our currency.
we write this in view of the al
thOVuncement tO.n by the press that mon
NY convention will be held in Men
p"'s toward the end of May. If "
baouid be present at the convention v
VIZ VIZ you will oppose any experime
con.. %",gh Will be likely to plunge us in
numerical disaster and distress ev'
ea'er 9n Than that from which we a
HoW emerging.
The II. b. CHAPLIN COMPANY.
(Signed) JOHN CLAFL1N.
rroperly analyzed this letter plai