The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-09-13

money in circulation among the peo-
pie. This my friends is the Treasury
report and this report shows that
while the per capita circulation for
1894 was $24.2S per capita, in 1896 it
had fallen to $21.10, fall of more than
SO per capita. (Applause)
A yoiee-'I haven't got five cents in
my pocket.")
Bryan" There is an evidence from
the remark of my friend that even the
decrease per capita is not distributed
with absolute equality. Uaughter.)
INCREASE OF POPULATION.
Now / have called your attention
to this decrease shown by the Treasu-
ry report. Let me show you my friends
that instead of there being a decrease
there ought to have been an increase
each year.
Senator John Sherman (groans)
made a speech on the 9th of June, 1890,
and in the course of that speech he
used these words: IF our present cur
rency is estimated at 81, 400, ,O0O, 900 and
our population is increasing at the
rate of per cent per annum, it would
require $42, 100000 increased circuIa-
tion each year to keep peace with he
increase of population; but as the in
crease of population is accompanied
by still greater rate of increase of
wealth and business it was thought
that an immediate increase in circula-
tion might be obtained by larger pur-
chases of silver bullion to an amount
sufficient to make good the retirements
of bank notes and keep pace with the
growt of the population. Assuming
that S54,000,000 a year of additional
circulation is needed upon this basis,
that amount is provided for in the bill
by issue of Treasury notes in exchange
for bullion at the market price.
''My friends, he says that we need
an increase of something like fifty mil
lions every year and yet, my friends,
instead of having an annual increase
of S50,000,000 a year, in the last two
Years we have decrease of about one
hundred and fifty-fye million dollars
(Applause.) Making a deficit Of a.
. bout two hundred and fifty-fiye mil
Lions of dollars in the currency of the
country. Now if Mr.. Sherman did right
in 1890 in saying that the people need
ed new money every year, then my
y III
that the Republican party in the face
of the constant decrease in the circu-
lation of money has made no provi-
sion whatever to satisfy the needs
of an increased population :? (Applause.)
Then when we talk about these mat
ters, our opponents tell us that we do
not understand inanciering. (Laugh-
ter and applause.)
eve demand of our opponents an
answer to this question: How are you
going to provide for the money that
the people need? They propose no
plan. Why not? Because the policies of
the Republican party are dominated
by Wall street where they do not want
money plenty. No only are their poll
cies dominated by Wall street but, my
friends, they are not willing even to
let Well street have the final say, be-
cause they make in their platform the
declaration that we must go across
the ocean to find out what other ma
tions will do The Republican platform,
written in this city, and now the creed
of that party, expressly declares that
the people of this country must main
tain gold standard-how long? Until
we get tired of it? Oh no. we are tired
of it now. How long must we main
tain it? We must maintain it until the
leading nations of the old world take
pity upon us and let rs get rid of the
gold standard. IF the gold standard
is wrong, as I believe it is, there will
be agitation until we get rid of it. If
bimetallism is right, as / believe it lis,
there will be agitation until it is res
tored. / beg you to do your duty as
you see TT and whatever the result may
be we win be satisfied,
PLATFORM BREAKS DOWN.
While Mr.. Bryan was addressing the
meeting at Sportsman's Park tonight
the platform upon which he stood