The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-02-16
Addresses by the Chairmen
nf the Three Parties.
RESULT OF CONFERENCES
TO UNITE ALL FRIENDS OF THE
WHITE METAL.
THE REPUBLICAN, SURRENDER TO GOLD
Money increased in Value 145 PEI Cent. in
Forty Years, Leading to an UnparaI-
eIed Distress--A Luminous
Review of Situation.

IeIled Distress--A Luminous
Review of Situation.
Washington. ID. c., Feb. 15.-The ad-
dresses on behalf of the Democratic,
Populist and Silver Republican parties,
which are the result of the conferences
which have been i'll progress among the
leaders of these parties at the capitol
for the past few weeks, were issued
to-day. They seek to unite the members
of the three parties in future elections
upon the financial issue as the question
of paramount Importance and are sepa-
rate appeals to each of the parties to
consolidate all along the lines for this
signed by Senator James X. Jones, of
Arkansas, chairman of the Democratic
National Committee and is endorsed by
Democratic Congressional Committee;
that to the Populists by Senator Marion
Butler, chairman of the POpulist Nat
ional Committee and twenty-five other
populist members of she Senate and the
House, and that of the Silver Rcpubli-
cans by Chairman Charles 4. Towne,
and the Silver Republicans in the Sen
ate and fire House and also by ex-Scn-
ator Dubois.
TIIE DEMOCRATIC ADDRESS.
The Democratic address is as follows:-
To the People: The surrender Of the
Republican, party TO the advocates III thc
gold standard and monopoly is at last
complete. The present administration,
called to power upon the solemn pledge
Of thc Republican National Convention
at ST. Louis to promote bi-Elctallism, has
formulated and sent to Congress "a bill,
the leading purpose of which, the Honor
able Secretary Of the treasury avOws is
ito commit the country more thoroughly
to the gold standard The country
has already. for twenty-fOur years, been
80 thoroughly committed to this stand
ard, partly by law and PARTLY by the
usurpations of the executive branch of
the government, that its effects are seen
and felt ON every hand; wages are re-
duced: work is harder TO get; the weight
of debt is doubled; the value of land
and other property is reduced one half
made bitter VIVA hard bondage" 1t is
certainly not in the interest of humanity
to have This condition of Things more
thoroughly established.
The continued rise in the value of
gold. which is the same thing, the con-
tinued fall in prices, must inevitably
transfer the property of all those engaged
in active business, the actual creators OF
wealth., whether by hand, brain or cap
ital, to those who, avoiding the risk ana
efforts of active business, only draw in
tereSt.
The increase of 145 per cent in the
value of money caused by its increasing
scarcity, from 1909 to 1S49, as admitted
by leading advocates of the gold stand
ard found expression at that time i'll ex
tremely low prices and conditions of un-
paralleled distress. The discovery OF
gold and silver in extraordinary quantl-
ties, and the great increase in the vol
ume of metallic money resulting there
from, relieved this distress, and brought
in its stead wonderful prosperity. Prices
rose, business flOurished, producers pros
pered, all were happy. Substantially
this condition would have continued if
both the precious metals had been al
lowed to remain in use as money, be-
cause they were being found in nearly
sufficient quantities to increase the vol
me of money in proportion to the de
velopmept of business. A wicked con-
spiracy, however, deprived one of them
Of the money function. This was done
with the deliberate purpose of raising
the value of the either by rendering the
slrply of metallic money relatively
scarcer as compared with the demand.
From the hour of the consummation of
This crime mankind has suffered CONNER
ciaI disaster and social distress in almost
constantly increasing measure. just in
proportion to the growth of arts and
civilization and the expansion of com.
merce, business and industry, the made
quacy of the volume of gold is felt, its
scarcity is emphasized, it's value in
creased.
The repression of life and happiness,
which is inseparable from long course
Of declining prices, has now checked
devclOpment and, if continued, will ulti-
mately stihe civilization. An eminent
American. President Andrews, of Brown
University. some years ago said: sour
national debt on September J., 1865, was
two and three quarters billions; it could |
then have been paid off with eighteen |
million bales of cotton, or twenty five |
million tons of bar iron. When it had |
bnen reduced to a billion and quarter, |
tbirtv million bales of cotton, or thirty |
milIion tons of iron would have been |
reouired to- pay it. I'm other words, 4
while a nominal shrinkage of about fifty J