Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-07-10

1t HI Druggists. 25c a B0hs.
of standard silver money, or paper based
upon it. and all that mass of silver money
is sustained at parity with gold by moth
ing whatever on earth but the silver in
it by law. (Applause.)
1--WE have no outstanding obliga tions In
the United States except the small sum
of $44, 900, 900 of gold certificates which
are specifically payable in gold, and they,
of course, should be SO paid. All of our
specie obligations are payable in coin,
which means silver or gold at the govern
ment option, or in silver specifically and
only. There is more silver, and paper
based upon silver, in circulation To-Day
than there is of gold or paper based on
gold, and that the gold dollar is not the
unit of value is demonstrated by the fact
that no gold dollar pieces can now, under
our laws, be minted. If we should go
upon the gold standard, we must change
the existing bimetalhc standard of pay
ment of all public debts, taxes and ap-
preparations, saving alone those specific
ally payable in gold
Earnest Plea for Silver.
LAS we have $4,000, o00, 900 of public and
private debt 1t would take more than
three times all the gold in this country to
pay even one years interest upon it. We
should be compelled hereafter to contract
the currency by paying off $500, 900 Of
greenbacks and Sherman notes In gold,
which would nearly exhaust the entire
American stock in and out of the treas
ury, and the same policy would require
the 1914, 100000 of silver certificates
should be paid in gold Also as foreShad-
owed by the present draft upon the coun-
try's stock of gold This means an in
crease of the public debt by $500, 000, 0O0,
with the prospect of $344, 600, 900 more.
The disastrous consequences OF such a
policy are appalling to contemplate, and
the only alternative suggested to fight
for before the people is the free coinage
of silver at the ratio of 16 to l (cheers9
and the complete restoration of our
hereditary and constitutional system OF
American money. c
1--WE pray you, no more makeshifts and
straddles Vex not the country with
your prophecies of smooth things to come
from the British-republican propaganda
(Applause) The fact that the European
nations are going to the gold standard
renders it all the more impractical that
we should do so, for the limited STOCK
of gold in the world would have longer
division and smaller share for each ma
ton Previous predictions have been
punctually refuted when prosperity was
prophesied to come upon the uncondi-
tional repeal of the Sherman law. In
stead of protecting the treasury reserve,
as was prophesied 1t would do, an un1
upon it, and $262, 100000 of borrowed gold
have been insufficient to guarantee its
security.
Business Is Further Depressed.
INSTEAD of causing foreign capital to
flow to us it has stimulated the flow of
gold to Europe, and greenback notes and
| the Sherman notes, which are just as
| much payable in silver as in gold, have
been used to dip the gold out of the treas
ury of the United States and to store II
in the strong boxes of the war lords or
Europe Instead of reviving business
| this policy has further depressed it.. In
stead of increasing wages this policy has
! further decreased them Instead OF null
| tiplying opportunities for employment
| this policy has multiplied idlers. In
stead of increasing the prices of our pro-
duce this policy has lowered them, as it
is estimated, about 15 per cent in three
years. Instead of restoring confidence
this policy has banished confidence. In
stead of bringing relief 1t has brought
wears of misery, and for this reason: 1t
has contracted the currency of the
United States 81 a head for every man,
woman and child since November 1. 1898,
and with this vast aggregate contraction
| the price of land and of manufactured
| goods and of all kinds of agricultural and
mechanical produce has fallen.
Taxes and Debts Exceptions.
1.-The public revenues have fallen,
wages of labor have fallen and every
| thing on the face of the earth has fallen
| but taxes and debts, which have grown
in burden while, on the other hand, the
| means of their liquidation has been di-
| minished In the meantime, gentlemen,
| commercial failures have progressed
| with devastating effect north, south east
| and west in this nation. The dividends
| on bank stocks have shrunken. Three
| fourths of the railway mileage of the
| United States is now in the hands of re-
| ceivers, and the country has resolved a
shock from which it will take many
| years to recover. Yet, in this distressed
| and contracted condition. the new-fiedg-
| ed monometallists ask us to declare foI
| a gold standard and to wait for relief
upon some ghostly dream of interna-
| tional agreement.
But the people do now well know that
| the conspiracy of European monarchs,
| led by Great Britain, has purposes OF
| ACKNOWLEDGEMENT to subserve in the war
| against American silver money and
| stands in the way of such agreement
| With their redit~they seek to enhance
| the purchasing power of thousands and
| millions which is owed to them all over
| the world, and which you owe to them
| They draw upon the United States OF
| America for their food supplies and raw
material, wheat, corn, OIL cotton, iron
| lead and the other like staples, and they
| seek to get it for the least money.
why England Is Interested.
Besides this Great Britain has large
gold mines in South Africa and South
America and. by closing the silver mines,
| has greatly enhanced their products and
| their values. Recent British aggression
| in Venezuela and in the settlements of
| South Africa was moved by the desire
| to possess more of these gold mines, and
| by monopolizihg the metal as far as poi-
| slble, to assert British commercial SUI
| premacy over the world. No nation calls
| itself free and Independent that is not
| great enough to establish and maintain
a financial policy of its own. Great ap-
| plause)gS
ITO pretend that this, the foremost
| richest and most powerful nation of the
world, cannot coin its own money with
l out suing for an international agreement
| at the courts of European autocrats, who
| have none but primary interests to sub
serve, has for many years been held out
| at every. presidential election. They
| have made use of such. an agreement
and have foiled il afterward, and we
| have never In all our history had an In
| ternational agreement upon a money
I system, and none of the founders of this