The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-09-18

estimates of the crowd put them
all together and take the average
which is about $4,000. That is the
figure Uncle Oliver Dockery put it at
And he. too, was one of those on the
stand.
Mr.. Bryan showed his nights sleep
plainly and it refreshed his friends to
see him again in cool possession of his
phenomenal buoyancy. He was hand
somely introduced by his Excellency,
Governor Carr. His voice, at first, had
few cob-webs in it, but they were
soon brushed away, and it was clear
sailing. He said:
SPEECH AT CHARLOTTE.
Ladies and Gentlemen: The Re-
publican party has been legislating to
make a dollar dearer and then deny
that legislation has anything to do
with the dollar. | want this morning
in the very short time / can keep your
attention to call it to the conditions
in the volume of our money. No want
to assert at first as proposition that
cannot be disposed of, that the money
of the country must keep pace with
the population of the country and with
the industries of the country. zap
plause.) And that unless the money
does so%we shall find that a dollar
rises in value all the time. Now when
doMar rises in value it simply means
that prices will fall, and falling prices
Nyf1l be an injury to the men who pro-
Guce the wealth of this country and
when the products of their toll buy
money. Falling prices are good for
the man who has and wishes to use
that money to buy the things falling
in price.
Senator Sherman who stands
at the head and front as the recognized
leader of the Republican party, and
all that portion of the Democratic par
ty which is trying to elect Republi-
can for President, used these words in
speech which he made in behalf of
the Sherman bill on the fifth day of
June, 1890: IF our present currency
said Senator Sherman, is es-
timated at one billion four
hundred million dollars, and our pop
ulation is increasing at the rate of
so per cent per annum it would re-
quire forty-two million dollars circula-
ton each year to keep pace with the
increase, and as the increase of popu-
lation is continuing at "a still greater
rate than the increase of wealth in bus
mess, it was thought that an imme-
diate increase of circulation might be
obtained by the larger purchase of
silver bullion to an amount sufficient
to make good and retire all bank bills
and keep pace with the growth of
population. Assuming the fifty-four
million dollars year of additional cir
culation is needed upon this basis, that
amount is provided for in the bill by
the issue of Treasury notes in exchange
for bullion at the market price
There Senator Sherman declared
that money must increase with popu-
lation, and even more than that says
that wealth and business should in
crease more rapidly than population
and therefore he defends the Sherman
bill on the ground that it gives to the
people about ffty-four millions of
dollars each year in new money. Re
member that the e-yery man who gave
that did so as a reason for the enact
ment of the Sherman law, and then
turned around and joined with the OPP
ponents of free coinage in repeating
the Sherman law and leaving nothing
to take its place.
Instead of having fifty-four mill
lion dollars of new money each year
we have been decreasing in our cir
culation for the last two years. / have
here a government publication, issued
on the first of July, ,1696,and this gives
a table showing the decrease of the
money in circulation among the peo-
pie. According to this we had in circu-
lation in this country on the thirtieth
day of June, 1894, $1,660, 900, 900; on
the 30th day of June year afterward,
in 1896, it had fallen to 81 ,001, 900, 900, a
fall of ffty-nine million of dollars in
the circulation in one year, whereas
Senator Sherman said it ought to in
crease fifty-four millions in that time,
so if you will take the actual deficit
and add to that the amount we ought
TO have had, you will find an actual de-
felt of over one hundred millions of
dollars in circulation in one year. BY
the 30th of June, 1896, this year, that
had fallen from one billion six hun
dred and one million to one billion five
hundred and six millions, a fall of
ninety-fiye millions of dollars in the
amount of money in actual circula-
tion among the people in a single year.
You add to that the fifty-four million
dollars we ought to have had as an in
crease and there was a deficit in one
year of more than one hundred and
fifty millions of dollars. In two years
there has been a decrease in the a.
mount of money in circulation of two
hundred and fifty million dollars, ac-
cording to the testimony of John
Sherman, only six years ago. Now,
my friends, these are not vain imagina-
tions, these statements are not the
yaporings of lunatics and cranks. Zap
plause.) These are the statements
made upon the testimony of one of
our opponents, so short a time ago
that even they themselves have forgot
ten that the truths they stated are still
alive. (Applanse.)