The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-04-08
sUNTER. 3. g. WEDNESDAY. APRIL g., 1896
Consolidated Aug. 2, 1881.


legal tender in Eosiand, and England
cannot make rs money legal tende:
here. Our statesmen io 1892 decided
on fifteen to onc as the ratio between
poId aud silver. Most European pa
tions at that time had that ratio.
Linked together as one metal their COLO
age ratio and their bullion ratio we're
the same. 10 1902 France fixed fifteen
sud half to one as the ratio Of coln-
age 10 that country, aud being ao i'm
por,ant commercial hatien the ratio
fixed at the French miuts soon became
the ratio of the world. in France
pouod of gold would bay fifteen aud
half pounds Of silver. while in other
couo,ries only fifteen, and gold COM
menced going to France. as it always
goes where il can buy the most Our
gold standard friends coofound circua-
tion with standard The moucy stan
dard is one thing aud currency is ao-
other. Though our gold weus to France
we we're not on a silver basis Gold
was still eligible to coinage and was
good for the payment Of any debt.
Now if legislatioo cannot regulate val
ues. Why did oor fathers change the
ratio to sixteen 60 one to bring gold
back Il came back here just as it
had gone to Fraace. because we had
made it more valuable aud it would
bnv more here But still we we're on
bimetallic basis. Bimetalism means
the equal rights Of coinage Of two net
ais at "a fixed ratio aad an equal pur-
chasing and debt paying power for the
coins made from either metal Any
law taat dimi1ishes the am cunt of stau-
dard money in the worldssis injurious to
the masses Of toe people, and only bene-
6,s those WHO have 6xed Incomes and
money to lesa. (Applause.) There is
limit to the demand for every article
except money. The demand for money
is Unlimited, because With money yet
can get everything else. aud the desire
for money IS measured by the sum Of
the desire for all other things. Down
to 1873 gold and silver were linked
together, with only slight variation IL
their relative value, though somerim es
their production varied 8 to I. In 1879
the TIniteS States demonetieed silver
No gold nan has yet been bold and
frank epo~gh to tell you why. Bu,
the real reason was to decrease the
amount of standard money aud increase
the vaiae of that which was left.
(Appiause.
Mr.. Crisp then commeated es the
siatemeats by latter day statesmen that
from 1872 10 1884 this country was On
the si:Vec basis, and that after lSSA 1T
was cu gold basis. THIS comes from
coufoupd;ag circulation wies standard
We mag have had ou'y enc meta; or
the either in circulation, but there never
was ,iae ir these years when either
metal vas 30, eligible fo: coinage at
the legal ratio aad COED fer the pay
meue of aeAg obligation, psblic CT pri-
vate.
Ia 1878 silver was surrept;tiousiy de-
uoneeised aad that act Until now has
always been denounced bp the Demo
cratic partg. Though to-dzg there be
those who deny that it vas cone
surreptitiouss3, no party cau 90 before
the couotry and approve the demone-
tizstiop of silver anu have tie Approval
of the people. (Great applaase.9
Mr. Crisp then reviewed silver legg;s-
lat:on By Congress-the Blasd-Allison
Act, the Sherman Act, aud the repeal
of the Sherman ACT. He argaed thai
the position Of the Democratic party
has always been in oppositiou to the
Republicans efoet to fasteo ason the
country the single gold standard and
contraction ct the currency Not until
this good dag bea the country viewed
the spectacle Of Democrats going
around the eoaury advocating the sin
gle gold standard
He declared taat the Republican
party had insugsrated the policy of
allowing the creditor to dictate whether
he should be paid is gold or silver, bat
he blamed the Democratic party foc
following q bad precedent. He con-
demeed the issue Of beads in timc Of
peace He said they we're issued to
p.ocu1e gold wien aobody waited
gold said the Goverament did cot
oeed ge,a to meet its obligations. l.
had pieoay Of silver. eod is could pay
It's 5caos tor the greeobacks IN silver.
{Appause He said IL had cost this
country S Per capita 70 keep This Gov
esuyaent &C the gold basis for three
gears only.
Ne. Csisp closed with aa srgument
tc show that his couu:ry co3ld n,ain-
ta:o free &ad unlimited ccioage OF sill
vcv iode2@n 3e@tl2 Of other na;icas.
he said it vas agreed that several Cos.