The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1895-07-05
.CatslilgS and MagTlder Speak.

ladies. Gold and silver, which Is agl-
Eating this country from center TO
circumference, was the theme OF the
speakers, both OF whom are opponents
Of sound money.
The orators held the attention OF
their auditors throughout, and were
saluted by frequent applause OF APP
probation. The meeting was called
TO order by Hon. c. II. Wood, Of Moss
Point. who introduced Mr.. Catchlngs
to the audience in a few well chosen
remarks, who in turn expressed great
pleasure with the reception received
from the people of Scranton, and at
once began his argument in favor OF
sound money in IA way which convinced
his hearers that sound money is the
money Of the people, and is essentially
the foundation Of trade and the tinan-
cial basis Of the government on which
the happiness and welfare OF the peo-
pie depends.
He said that the sophistries and
Establishments, occult and mysterious
arguments offered by the advocates of
free coinage of silver it was utterly
impossible to arrive at any direct con-
clusion that the masses Of the people
would be benefited by free coinage at
a ratio of l6 to ; in fact, it would be
disastrous and destructive. He re-
ferred to John Sherman, of purchaS-
ing silver bill fame, as the high priest
of finance surrounded by the devils
own halo, and by way of comparison
said that it vas declared by writer's
on political economy to be most dis
astrous to trade and caused the pres
ent financial %stringency from which
the country is Just beginning to re-
cover, and it was a good thing that
Congress repealed it, He said when
our government was established in
1892. Thomas Jefferson, that careful
and wise exponent Of finance and De-
m0cracy, saw that England, after four
centuries of trial Of silver as the
money standard had failed to secure
successful financial results, and adopt
ed gold as the standard, which has
made her the richest country or the
globe, and proved beyond the posi-
bdity of Il doubt that it was practi-
cally useless to have silver as the
money standard to sustain the stabili-
ty Of the government. Again during
Jackson's term as President in 1887,
J an agitation in favor of silver caused
a dreadful financial panic, which re-
suited d~isastrously to the country.
In 1853 an agitation in favor Of gold
caused Il feeling of bouyancy and ex-
huberance by which the nation made
rapid strides in wealth and prosperity
until 1861 when the war commenced,
which, Of course, caused numerous
and curious methods of finance, but
I gold commanded a high premium and
maintained the credit of the govern.
: ment, both at home and abrord. The
speaker quoted from numerous and
eminent authors to prove by both force
and logic, that it. was impossible to
maintain the financial system of the
, government with free silver as a basis,
as there would be nothing left to Ill
the vast and empty space left by gold.
Mexico with her free coinage of silver
is in a deplOrable financial plight from
, the simple fact that the price OF silver
is continually n%uctuating, and No one
can really value Mexican silver in
trrding, as 1t has always been con-
trOlled by the price of silver bullion,
which is constantly fl~nctuating; hence
for our government to adopt a frea
silver standard would be ruinious tc
/, trade-it would mean a retrOgradt
movement and we would 20 back tt
! the condition of all silver countries
such as China, India and other semi
civilized countries which make no
. progress. But with gold as a stand
, ard means progression.
Mr.. Catchings casually referred tt
, the low price of cotton and other pro
ducts. Over production was the
cause, for since the year 1873 there
has been an enormous increase yearly
of the worlds cotton supply, which,
. according to the law of supply and de-
n mand, make the ruling price of the
feecy staple. This was the cause OF
low prices, and free silver means still
lower prices without a corresponding
reduction in imported articles. You
4 can sell your products for cheap silver
money, but could scarcely purchase
goods from the gold standard coun'
a tries. He closed by saying that these
were his honest convictions as he had
closely studied the financial question
n ever since his first advent into Con.
$ gress and he firmly assured his hearers
. that gold would be the standard
G money Of this country, drawing his
S conclusions from the results In its
S favor In recent elections in various
parts Of the country.
Maj. Magruder was next introduced
S to the meeting and began by saying,
g that Mr.. Catchings had so fully cover.
ed all points of the sound money ques.
tlon, that he could only add a few re.
marks. His address was pithy and
delivered with considerable and con.
vinclng force, i%nterspersed with witty
sayings which carried firm conviction
among the thrOng that he was RIGHT