The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-08-26
S c. 80,


men of the United States really think
the nation can stand another four years
like the last without a convulsion ? If
they think there is 90 danger, | have
DOT word to say. If they they are
content with the present situation,
then vote for Mckinley. That ends
all arguments But if We are in great
fear Of the future. then We may COD
slider whether anything can be doue.
am at loss to know how We are to
trample down discomfort The discon-
tented class are the farmers, naturally
the most loyal, the most conservative
and the most long-suffering of all class
es. The men who have here in Massa-
chusetts always made the body Of the
Republican party. Well, throughout
the Uoion even Republicans admit that
the farmers are becoming socialists.
You can't make those men happier by
trampliug on them, nor are they men
on whom it is good to tranple. Why
Dot try to give relief?
The question is to find out, if we can,
exactly what free silver will do for us.
We are told by newspapers that imme-
diately our currency will depreciate. I
am happy to say that such folly is not
talked by all Republicans. Senator
Dodge said very truly and very frankly
that free coinage would cause coutrac-
tioo, and for obvious reasons.
Our currency is composed Of three
parts of about equal magnitude. Pa
per, silver and gold. We are supposed
to have six or seven hundred millions
of gold in America. Suppose a fell of
one PEI cent. that gold would be
drained to Europe, contraction would
follow aud the paper and silver would
rise to par. 1t did so 10 1898 We
know precisely, by experience, how the
process works. The question then
arises. what good would be done, for it
would take many years to coin $780,
900, 900, and all that time we should
have contraction That is what silver
men want. A fall Of geld and our cur
rency at per.
What the free silver man is after is
not to upset the American values, but
to affect the values of the world.
Throw $500, 100000 Of gold in block
on the European market, and gold
would be cbeapened, that is, values
would rise our exports would cover an
interest account, and We should have a
favorable balance, as 10 1880.
What folly is this, to say We pay lu
dollars We never can pay in dollars;
We pay in produce, in wheat, cotton,
meat and the like. AS debtor and
producing nation our interest is to have
prices of produce high and gold low.
Therefore, let your gold 60 to swell
the general mass, aud, once prices have
risen. it will rturn to you again. The
more you hoard AID borrow and stuff
gold away in bank vaults, the more
prices will fall and the poorer We shall
be. Garry that policy to the end, and
we must certainly die Of dry rot. We
have but one chance, and that is
to break the gold corner, swamp the
gold market.
Every one knows that now the
amount of free gold is so small that
half dozen men can any day bring on
a contraction, not only in America, but
throughout the world, by locking up
GOLD. 1t has become one Of the COM
monest Of financial operations. 1t is
profitable to the men who do it, but it
is ruin to the nation, aud now all the
Republicans have to say is to
admit the evil. but to tell US
that We must wait uutil these
very men who make so much money by
handling the geld market voluntarily
abandon their advantage.
As we all have, | have thought this
question over until | am weary, but the
more look at this the more | am con-
| VInceG tnat it goes 10 Tue roots OF our
whole social system. Disconten. such
as we see about us cannot be iguored.
New England canno. live without the
West and South Without them We
should starve we live by supplying
their wants.
We cannot always carry on republic
by treating the farmer class, the 49,
600, 600 or so, who have always been
the strength Of our nation, as disloyal
and hishouest knaves and scoundrels,
who are to be suppressed. If they have
grievances they must be listened to.
even in self-defence. Every two years
the country cannot be distracted by an
agrariau uprising, and l am convinced
that if the party in power is firmly re-
solved to pursue policy of contracting
the currency and consequently iDcreas-
depression If prices, that frequent