The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-02

man was W. j. Bryan, the next Presi-
dent of the United States. And all
the gold of Wall and Lombard streets
could not buy him.
Northern and New England Demo
Gratis are in revolt and have formed
conspiracy with the money power to
defeat ,ahe will OF the people, but their
power is broken.
The three great issues enunciated in
that platform are:
/. Free silver.
2. Income tax.
3. The destruction of trusts.
Trusts must be taken by the throat
and strangled to death. They are as
remorseIess and cruel as the grave.
They have laid tribute upon nearly
every article necessary to sustain life
from the cradle up. The slaves before
the war were fed and clothed by &heir
masters and had no taxes to pay, Tn
der the new system Of bondage the
great trusts, the chief of which is the
money TRUST, get the peoples labor
without the responsibility of having
them decently clothed and fed.
Under the financial system ordained
by the fathers, wealth was not congest-
ed in the hands OF few, but all who
obeyed the laws of industry had fair
return for their labor. A few men did
not have the power to corner the
money OF the country at will. Nothing
is more certain than that rhoSe who
control the money supply are absolute
masters Of industry. This IS the
key to the problem. 1t explains the
legAlation put through by the money
kings to contract the currency.
England demouetized silver in 1916.
IT was done at the behest OF the men
who furnished the money to crush Ma
poleon.
Mr.. Watson entered with great par
ticularity into the various movements
and the reasons for them that caused
the demonetization of silver by the ma
tions of Europe. The conspiracy to
double the value of money was world
wide. John Sherman was one OF the
arch conspirators. In 1865 Oliver =.
Morton. of Indiana, favored paying the
National debt in the same kind of mon
ev it was contracted in. The bonds
were bought at from 80 to 62 cents on
the dollar. The currency has been wo-
rowing down to the gold basis. Silver
and wheat are tied together. An ounce
of silver would buy bushel of wheat
in 1878; it will do the same to-day.
A few years ago he had innocently
supposed that the era of falling prices
had been caused by overproduction.
An old farmer in Cleveland county
asked him if he really believed that
I. Le +o1I =
his honest opinion. The farmer asked
him how many million bushels of
wheat were rotting in the great eleya-
tors Of the West. He investigated the
matter for himself and found that it
was not overproduction, but undercon-
sumption. The people of the United
States consumed less per capita in 1895
than they did in 1885, as follows; z
bushels less corn, 2 bushels less wheat,
3 pound less cotton, and 3 pounds less
meat. Is not the country gravitating
to the level of the Russian and China
man, who can live on cents per day?
The Bland-Allison bill, under which
S350,000, 600 silver was added to the
currency was forced upon the stGR te-
books by the Democratic party. This
Democratic money is practically sup
porting~the entire fabric of American
credit. Gold does not circulate and
the gold certificates are used chiefly TO
raid the Treasury with
In 1890 Austria-Hungary wanted
$150000, 900 in gold The parties who
had the contract in this country went
to Harrison's Secretary Of the Treasu
rY and wanted to know if he would re-
deem coin certificates, which are pay
able in either gold or silver, in gold
alone. He said he would redeem them
in gold The law said the parity must
be maintained. Foster and his success
sor have maintained Che parity of mon
ey, but the parity of property with
money is problem that every produ-
Ger and debtor is wrestling with now.
Mr.. Watson read from the New York
Tribune, the LEADING Republican paper
Of the country. an article showing that
the banls had volunteered to tide the
Treasury over the election. As an
American citizen, proud of his country,
it was the most bumiliating thing he
he'd ever read. A government for
whom millions would sacrifice their
lives and property, so reduced in pride
AIS to permit thp hat tn be passed
around for its benefit while the world
looks on and wonders
Tn 1889 he attended the Chicago con