The Caucasian. (Clinton, N.C.) 188?-1913, 1895-04-25

/
r.-, rr- Remembered Aud Ouot.d---
Inr ~d" "f Bonds What Is sound
sronc, Why The Long .pr.ssiom.
senator Stewart, of Nevada
|t.vugh The World, addresses the
u.uy ,rg orrn letter TO MIR. Cleve-
Washington, - G April -, %.
.Mr Presidents: Iout later Of the
l ..u INST, addre- sed to Messrs W.
l. Baker, GEORGE W. Smith and 9th
,g., of the Chicago committee, is
tw.Iy. The country looks to you ~
4 'ur great champion Of the present
ulurlai condition Of the country.
Yc policy for which you have
nUur,d 80 long and so persistently
..,. been cstai lished, and the money
o, ,Uc uit'd States is reduced to
tnn .arlnkIng volume of gold.
You say: What Is now more
needed than anything I, lse is IL plain
opd nipple presentation Of the srgu-
m.ut an favor of sound money
"IHc truth of this proposition
/
argument IN favor of the sound
money policy which you have adopt
pd oud forced upon the country, it
should bc presented at once. You
have urged upon the country in ell
your public utterauCt ) Tor the last
tom years the neces ity of sound
money. You have excited the curios-
~ OF the people by your frequent
usn Of such phrases as sound money
and safe currency but you have
%, vcr condCsccnded to satisfy that
curiosity by stating what those terms
mean, or what is 'sounG money, or
safe currency
"Iou say: If the sound money
sentiment abroad in the land is to
save Us from mischief and disaster it
must be crystallized and combined
and made Immediately active. 1t is
dangerous to overlook the fact that
~ vast number of our people with
sraut opportunity thus far to ex
anime the question in all its aspects
have nevertheless been ingeniously
pressed with specious suggestions
which, in this time of misfortune
and depression. find willing listeners
prepared to give credcuce to any
scheme which is plausibly presented
rs a remedy for their unfortunate
coudltion.'
WHAT Is SOUND MONEY!
You are right. In this time ot
misfortune and depression the peO
pile are willing to listen to any seme
dy fer their unfortunate condition
1t Is gratifying to know that yol
have learned that this is time %
misfortune and depression and tha
you know that sound money is th(
remedy. II you would kindly tel
the people what sound money is, the,
would understand the remedy you
propose aud could form their owl
opinions as to its probable efficiency
In your letter to Gov. Northerl
ot sept. -, 1898, you said: Il wan
good, sound and stable money and 1
condition of confidence that will kee)
il IN use. am therefor
opposed to- the free and unlimite,
coinage of silver by this countr,
alone and independently, and au
in favor of the immediate and uncon
dltloual repeal of the purchasin:
clause of the so called Sherman law
! confess am astonished by the OF
position in the Senate II such promp
action as would relieve the presen
unfortunate situation
WHY THE LONG DEPRESSION?
The opposition in the Senate q
which YOU we've astonlshed was pye1
come and the prompt action whlc
YOU declared would relieve the Ill
fortunate situation was obtain
more than eighteen months ago, an
the then present unfortunate stu;
uou' to which you alluded has col
tJuucd and is now this time of mi
fortune and depression Your col
hdcut prediction that the repeal I
the sherman act would relieve IL
unfortunate situation rallied
Your support the commercial pres
the boards of trade and the dealer
I'M money and bonds called buslne
men, and enabled you, with IL
power and patronage OF your Crri
office, to overcome the opposition
tle Senate which astonished yo
The people naturally look to you f
au explanation why the repeal of Il
purchasing clause of the Sherm'
act did not relieve the 'unfortuna
situation as you predicted.
Your present plan of relief is
plain and simple presentation of t
argument in favor % sound none.
Why do you not present that arg
mrnt. and say what sound none
is! Are you unwilling to trust
people with plain statement
what you mean, or are you usl
Terms which you yourself do not
derstand!
"If the former, it reflects up
your good faith; if the latter you
advising others to use argumel
which you yourself are unable
present. You say: Disguise 1t
We may, the line or battle Is dra
between the forces of safe currer
and those of silver monometallls
THAT SALE OF BONDS.
Your recent sale of $62 600,
of bonds to the Rothschild syn
cate { + $9,000,000 less than tn
market value to obtain gold 10 ma
tain gold monometallism is SO
evidence of your familiarity W
the forces of safe currency.
your assertion that the oppos
forces are those of silver monome
lism shows that you do not uu'
stand the position of the blmetalll
or that you knowingly misrepres
their position. Assuming, as m
that 1t is want of information
your part, without the least de-
to deceive the people, you Will
don me for informing you for W
the advocates of unrestricted coin
of both gold and silver conte
- This con intention is so clearly st;
Y by your Secretary of the Treas1