The people's journal. (Pickens, S.C.) 1891-1903, 1896-02-27
sr,5oo,Ooo, 900 of Government coin

81, 100000, 900 Of Government coir
futures expected that long before
delivery day should arrive specie
payment would be resumed,s and
IN anticipation of that event thoy
saw that by tho demonotlzatlon OF
silver when il would not DO no.
ticcd or felt their coin futures
would become gold futures, and
tho people would not realize the
wrong done thom until near tho
approach Of dclivory day.
Delivery day is now rapidly APP
proaching, and the moment wo re-
mogetizo silver we rob it Of half
its terrors to the people. Lot mo
shoW.you why. Tho $4,000, ,OOO,-
600 Of public and private dobt is
largely short-timc paper, and we
thavD iu This country only about,
in round numbers, $500,0O0, 900 in
gold. Twenty per cent Of this IS,
by usage, to bo kept locked up in
tho National Treasury a. q reserve.
At least rs por cent of the bal
ancc is held by the large fiscal i'll
stilutions that 40 also the largest
purchasers of tllcso money futures, {,
leaving only about 100000, 900 of
gold in existence to dclivor on con-
tracts for $4,000, 100000. This,
in my mind, demon
stratcs the approach of tho great
est "corncr' ever made in the mar
kct. These mon have laid their
schemes for thirty years to corner
the money OF tho nation. II We
play into their hands they are
suro to succeed; and success 8
means that the entiro wealth Of
this nation is absolutely at tho
mercy Of this god ring. If they
do not tako it all il will DO simply
and purely because they arc tco
righteous.
But suppose we discharge our
sworn duty to this Government by
supporting It's true intcrsts and
pass this free coinage OF SILVER
amendment, what will hc tho ef-
feet? We at once break tho cor
ner and rescue those who have
sold these futures from distress
and disaster; we bring happiness
and prosperity to the land without
working any injustice to the pur-
chaser OF tho futures. Iio will
6cC "i'"C lie po''ShV WIN interest;
whorc"s nc no" wants 10 cNtort a
fine from tho seller hccauac tho
he''e' c"'''t!D t... o9il'ci "ia' nc \the
o"ScrN mas corhcrco' III IS an an
acC "' S'hnP'H l"9l'co ana f'Ght TO
orSaN up such SanihllhS schemes.
Nlr' 9peaNef' L GO hoC WISH 10
say, an! ,i''oS ol'par'lamcltafy,
ANA snail choc'Vor roy TO 90 SO;
""I iia\7 Si'nNii 'Hat thiS GOVERN
ih'''' Is " u"otor' ana IL IS we'll
snow" ''"t ''!' o'n' mas pHch
'arSo'v increase" III 'h! last tW"
.'"'II' IL HIS over 3i,VVuoo,o'O
"' 'hlf'y-y'ar contracts Tor tho
or'!Ecr! OF con- outstanding,
"hich mature IN 'hc near luture,
az" no" any man VINO mas nseh
ciec'co 10 T" poSi''"h IN 'h's nonof'
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