The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-20

erful competitor in commerce and
trade, will ever agree to open her mints
to the coinage of silver? Or that we
shall open ours? We are the great
debtor nation of the world. Great Bri-
tain is the great creditor. We pay her
every year millions and hundreds of
millions of dollars, as income on her
investments in this country on her
loan. The gold standard, in my judg-
ment, lowers prices and decreases val
ues. And she buys of us millions and
millions more than she sells us. She
nuys upon gold standard, lowering
and depreciating standard. How long
do you think it will be before she will
agree to system of values that raise
the price of the farm product or the
products of our mines in this coun-
try?
1t is a solemn declaration that the
Republican party intends to
maintain low prices and stag
mated business for all time to
come. Cheers from the silver
States.) There is a beautiful provision
subscribe to that. applause and
lieve in a protective tariff. More APP
piause.) / have advocated it for forty
years (applause), but it is my solemn
conviction that protective tariff can
not be maintained upon a gold stand
ard. applause and cheers from the sill
yer people) The tariff of protection
principle is for the raising of prices
Of human toll, it is for the good of
the producer, for his labor; the gold
standard, on the contrary, everywhere
that it is enforced, is much for the
purpose of reducing values.
Now, gentlemen of the convention,
/ am going to make this simple obiec
ton as to the protective system, that
it is in danger, and | will call your
attention to the other fact, and thtn
leave it to your judgment whether this
platform shall be adopted or rejected.
Under existing conditions, we undoubt-
eddy have the gold standard. / no not
DENY that | have sought for twenty
years to change it to the binetalilc
system. I have believed and yet be-
lieGe that when the Almighty created
these two metals, He intended that
the world should use them for the pur-
poses for which they were creaMd
(Applause from the silver men) And
when He blessed this land with more
gold and more silver than any other
country in the world, He meant that
we should use them for the purposes
for which they were intended, to-wit:
The use of the people as standard
money.
We to-day reverse the traditions of
our country and declare we will use
only one. If the American people are
in favor of that, I have nothing to say.
I must submit to the majority vote,
and the majority vote in this country
of ours. / do not believe this party
of ours, if it could be polled, is in iav-
or of the gold standard. ] believe that
80 per cent. of the people are in favor
of bi-metallism of the old-fashioned
system that existed in this country up
to 1878.
Mr.. President and Gentlemen OF the
convention, I promised that / would
take but few minutes, and | believe
/ am allowed only a few in which can
rapidly address you. But, | want 10
say few things that may seem to yon
to be personal, and that they ought
not ia be introduced in an audience
like this. ] must beg your indulgence
If I seem to transcend the proprie-
tics OF this occasion, if / shall say
something personal to myself. | have
formed my convictions on this great
question after twenty years of study,
after twenty years Of careful thought
and careful reading. | have beeen
trained in a school that it seems to me
ought to fit me fairly we'll for reaching
lust conclusions from established
facts. | have formed my conclusions
to such an extent that it has become
binding on my conscience.
UARDSHIPS or THE GOLD STAND
ARD.
| believe that the adoption OF tie
gold standard viii produce hardships;
If will increase the distress and that
no legislation touching the tariff can
remove the difficulties that now all
admit prevails in this land. / believe
that the whole welfare OF my race is
dependent upon a rightful solution
Of this question; that the morality,
the civilizations nay, the very religion
Of my country is at stake in this con-
test | know and you know that men
in distress are neither patriotic or