The Caucasian. (Clinton, N.C.) 188?-1913, 1896-12-10

rorrhs Peoples Party The Democracy
would Return to Its Old Gods.
.r... . The Caucasian
new YORK CITY, Nov. 80, '0G.
lu New York tho first effect of Nc
EiuIcy's election is a decided feel
ing Of disappointment. 1t was firm
.y believed by the great majority
mat the golden promises of the Re-
publican papers would be immedi-
etrIy fulfilled. This expectation was
not without reason. The New York
Press claimed that we had a suilici-
cncy Of money in circulation and
that all now needed to bring good
times was easy accommodation at
tho banks. Banks credit, it was
claimed, could not be looked for un-
Ill tho position Of the country on the
money question WAS positively
known. The election of Mckinley
making this reasonably sure no furth-
er excuse remains for the past lit
tloness Of trade. Still all sorts of
new apologies are being made and
the Cloven hoOf is more distinguish
able after than before election.
Awake to their opportunity near
ly every paper in the city is advo-
eating the retirement of the green
backs and the substitution for them
of bonds, which are later to be made
T. @ basis for an extension of the Ma
tonal Banking system.
The congressional fight will
he waged over these points.
The tariff will hardly con-
sumo much time unless an un-
expected effort is made to saddle us
with an extreme measure. 1t is to
be hoped that no matter how severe
such bill may he the Senate will
pass it as the heavier the tax the
moro sure the country will be to feel
it. In almost any event tariff dis
cussion will not be permitted to
blind the country to the true issue:
Money. At an early stage bill will
appear in Congress following the
programme above mentioned, and it
behooves us all to be watchful lest
the enemy triumph.
The hue and cry for gold stand
ard has not been an honest conten
tion for monometalism. What the
banks want is the privilege of issu-
ment's credit. This is possible only
when W. have large bonded in
debtedness, as otherwise no basis
for such money exists. The govern
ment, if this scheme should mature,
would merely operate the mints,
coming gold and subsidiary silver.
The money with which the nations
commerce is carried on, paper, all
coming from the banks. Thus would
be finally accomplished that which
Jefferson dreaded, Jackson fought,
and Benton foresaw--the absolute
domination of the usurer class.
So determined is the money power
to achieve its OF ject that some very
liberal concessions may be expected
from them as the contest proceeds.
DO not be surprised if 1t be proposed
to re-enaet the Sherman law with
some few amendments. No less an
authority than Hanna declares the
willingness of the Republicans to go
that far to meet the silver men.
Without doubt this is the gravest
danger that at present menaces US.
y great many well-disposed persons
arc so ignorant on the fundamental
theories of money that they would
consider such bill a veritable vic
tory, whereas it would be only a
blind for more far-reaehing legisla-
tion.
We should all follow the advice Of
Bryan to the silver clubs. Study
every move of Congress. Discuss
fully the measures proposed. Give
the fullest publicity to our consider.
ations. Thus we shall protect the
people from underhanded measures.
AS time passes the general outlook
brightens. The stock market which
was so strong before election is weak
ening rapidly. The general range
of prices is falling as they were
maintained by sentiment only.
Wheat has taken drop and will
probably continue its downward
course. They tell me on the Mari
time exchange that freight rates to
Europe, which prior to election were
abnormally high, have experienced
sharp decline.
All these factors are important as
showing how inevitable lack of
prosperity is under present condi-
tions. Up in Yonkers, New York
Smith Bros, the largest carpet man
ufacturers in the world, have shut
down, throwing seven thousand men
out of employment. These men had
been promised increased wages in
the event of McKinley's election
IN, ,,,<
down wages after having made the
same promise. Experience is hard
teacher, but it will eventually in.
stluct the working men of the
United States, no doubt.
In New York city there is a strone
feeling among clerks because EN-
ployers have fasled to carry out be
fore election promises. Speaking o
this reminds me of queer rumor
heard down town to-day; namely
that j. Pierpont Morgan had sal,
that if any clerk who had beel
promised increased remuneration il
the event of Republican success
failed to get it he would see tha
they did if reported to him. Moral
The business men of New York ar
wax in Morgan's lands. Let US hop
he will occasionally squeeze them.
Glaneing back at election return
and the conduct of the campaig
there is plenty of food for though
in the fact that such a weak figt
was made in this State by eithe
party. The battle ground was Ill
nois, thus demonstrating that th
political prestige of the once Empil
State is no more. Hereafter the p,
litical contest will be thickest b
yond the Ohio river. Westward tt