The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-29
TE LARGEST CIRCULATION of AMY M0RTH GABOLlNA DAILY

dependent and as willing to make their
ballot represent what they mean as
the financiers; the trusts and syndi-
Gates are willing to make their ballot
represent what they want and what
they need. (Applause.) Let me read
little further from Mr. Carlisle's
speech. "a voice, "Why do you read
from Carlisle's speech?'')
Mr.. Bryan-"Why because NO man
has presented more forcible argu-
ment in favor of bi-metallsm than Mr..
Carlisle has. Great applause and cheer
ing)
Let me read now what he says of
that bill, but it will certainly offer
some relief. 1t will reverse the grind
ing process that has been going ON for
the last few years Aye, away back
Is years ago, he spoke of this as the
the grinding process and my friends,
it does not tighten the effects of the
grinding process to call it Il temporary
embarrassment.
CONTRACTION OF CURRENCY.
He said: Instead of constant and
relentless contraction, instead of con-
slant appreciation of money and de-
depreciation of property That is
: what we have seen, a constant appre-
citation of money and depreciation of
property-he said, Instead of these
: we will have expansion to the extent
of doubtless S2,000,000 per month and
! under its influence Now what is 60
: ing to be next? Mr.. Carlisle knew in
! 1878, he said-'Under its influence the
! eXchangeable value and the commodi-
ties including labor will soon begin to
! rise That is what he said in 1878.
But what will be the effect of it? Thus
| inviting investments, infusing life
! into the dead industries of the country
| and quicl1ening the pulsations of tlade
| in all of its departments He under
| stood the laws of finance. He under
! stood what was the effect of adding
| this money to the circulation and, my
! friends, If he stated the truth then
| that truth has not changed since then,
nor can it be changed, though every
| one who spoke for it should turn his
back upon it. (Applause.)
Truth lives. 1t is the one thing
that will not die. I quote to you to
show YOU that by the increase of the
volume of money we expect to stop
the constant appreciation of money
and the constant depreciation of prop
erty. There is difference between
the owner of money and the owner or
producer of property. Let me illus
| trate. Suppose @ man in this COM
munity--a young man--finds some
young woman who is willing to trust
her future to his strong right arm and
they start out to build a homie. Not
having enough money, they take what
l 1rr, SA..av- hax
| a farm, paying 81 900 down and giving
mortgage for the other thousand.
| And what is the result? Suppose mon
ey rises in value. Suppose you take
| notion you want good dollar, high
priced dollar, dollar that keeps get
ting higher priced each day. Suppose
that you have a dollar that gets to be
| twice as much as it was when the man
gave the mortgage. Tt means that
| each dollar will buy twice as much.
/ THE PRICE OF PRODUCTS.
'It means that it will take twice as
much of the products of the farm to
buy the dollars and pay his debts as
it did before. What is the result?
| Why the result is that while it requires
twice as much of the products of the
| farm to pay the interest and twice as
mucn to pay the taxes and twice as
much to pay the debt, the man finds
! out that he is not able to pay that
| debt as he agreed to do. What then?
| You say extend the mortgage. Why
| they tell him that the land has gone
| down in value now. and that the farm
is not worth enough to be good secur-
| ity for the thousand dollars. Then
| what? There is one thing. He can
| turn the property over TO the man
who holds the mortgage. That he can
| always do. What is the result? He
and his wife lost 81 900 they invested in
| the farm. They have lost the labor
| they have put forth in trying to pay
the mortgage, and then they lost the
| farm, and start out in life again. How.
| about the other man who sold him
| the farm and got the thousand dol
lars? If he loaned that thousand dol
| lars he got good security for his thou
sand dollars, and he has the thousand
| dollars in his reach and then he gets
| the farm back. / ask if there is any
| difference between the holder of the
| capital and the owner of the property
| in the appreciation of theadollar. The
| man with the money is twice as we'll
off as ne was before, and the man who
has tried to own property loses all
| ne mas and then has to be-
| gin again. You will find the men
| who hold the notes meeting in con-
vention and declaring that the gold
standard is the best system of money
that was ever invented. But will those
people who have lost their homes-will
| they meet together and endorse the
system that is destroying them? My
| friends, this is a practical question
| that confronts the farmers of the Unit
ed States, and not of the United States
| alone, but the farmers of Ireland, the
| farmers of England and the farmers
of Germany and the farmers of every
nation in the world that has the gold
standard to-day.
NOT A QUESTION OF POLITICS.
Il assert that the gold standard
could not live for one day in any ma
tlon under the sun without the aid of
the money-owners and the money
| changers to keep it in existence.
assert that the gold standard has