Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1895-07-25
GREAT CROWDS HEAR HoKe SMITH.
Farmers Anxious to Hear Him Dis
cuss the Money Question.

Tho Court aouse nt Gainesville Crowded
to its Capacity aud Many Unable to Gain
Adninsiou.-He Points Out the Danger
Of Free SILVER Coinage. j
GAINESVILLE, GA, July 23--North.
east Georgia gave Secretary Hoke Smith
a splendid reception this morning. The
presence Of hundreds of covered wagons
surrounding the public square denoted
tho interest that the farmers feel in the
financial discussion now going on.
Early 1t became apparent that the large
county Court House, which seats more
than 1000, would be unable to hold all
the country people who had come from
distance. The committee requested, in
view of this fact, that the ladies and
city people would not attend. The
building was crowded to suffocation,
many being unable TO obtain admission.
He said be should supportth the national
Democratic platform and oppose tue
Populists' platform on the financial
problem. The Democratic convention at
Chicago in 1892 had voted down over
whelmingly proposition to insert the
word "free,n which would have made
the party declare for free coinage Of
silver, and the platform adopted, when
honestly construed, condemned the free
coinage of silver at 16 to l.. On the first
ballot, by two-thirds vote, the dele
gates had nominated MS their standard
bearer one who, in private and public
life alike, bud opposed the free coinage
Of silver as "a dangerous and reckless
experiment. This action, he inserted,
was in perfect accord with the teachings
of Jefferson and Jackson.
The Secretary then discussed at length
the functions of money and the things
that gave 1t value, BY the teachings Of
history, he said, we should expect u bad
money scheme about this time, and II
comes in the form Of proposition for
the free, unlimited coinage of silver at
the ratio of 18 to /. This, II accom-
pllshed, would produce disastrous con-
sequences, attendant upon violent aud
enormous contraction of currency. The
huctuation of values received some nt-
tention by the Secretary, and the history
OF the efforts by the government to
maintain the value OF silver bullion was
recited. Free coinage, he said, would
not give us bimetallsm, but gold dol
lar Of one value and silver dollar Of
another value. The history of the
country showed that no legislation had
ever been able to keep the two coins Of
the same value. The same was true OF
the currency of other countries as we'll.
The free coinage of silver, the Secre-
tary said in conclusion, meant the use OF
no coin but silver, new standard of
measure and new dollar worth only
half as much as the present dollar, and
the immediate withdrawalfrom circula.
ton of S676,000,000 In gold and
$S75, 100000 of greenbacks and treasury
notes. No practical benefits could be
pointed out, but only calamitous conse.
| Quences.
"The picture Is. not overdrawn. When
contemplate II there is but one source
of comfort--an abiding confidence that
with IL months of full, free discussion
the American people can be relied upon
to overwhelmingly defeat any party
which proposes to bring such disasters
upon u.s."
The Secretary spoke for two hours
and half, receiving the closest atten.
ton of his auditors. In closing, he re-
ferred eloquently to President Cleve'
land, whose name was received with
tumultuous applause. AT the conclu
sion of his speech, the audience CAV,
Secretary Smith rising vote Of thanks
not one auditor failing TO rise to his feet