The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-01

| people, and not a few bankers, own
ers and controllers of the money. The
day our public debt is wiped out. and
all our money currency secured by
bullion deposits. no nation or set of
| nations on earth would 90 to war
| with us on the belief we could be
financially crippled. If we ever issued
another government bond. it would
! be secured by one hundred cents of
sound redemption money in the trea-
sury, and a first lien on the entire
| property Of the people of the United
States, and the bankers and money
loaners would be contributing their
| quota of security to these bonds in
! the shape OF the best money on earth,
and for this service they are released
| from government and State taxes on
all the bills they have put out, secured
by bullion deposits. They should pay
county and municipal tax, for the
| support of local government where
they receive their profits.
The time has passed in American
history when her people Will tamelY
submit to being taxed TO confer Spe-
cial favOrS on small class OF people
to enable them either in the form of
| a money trust, such as is now pro-
posed or in any form OF combine, to
monopolizc the most important arti-
Gle on earth to human necessity and
comfort.
There must soon be a revolution III
the manner of the legislation that
governs the peoples money or there
will be a rebellion. and the thinking
people of this country had just as well
begin to realize it. All that the great
! no nf ha
country. from the mine, the field and
the factory, want is honest money,
worth no more to the banker by vir-
tue of the law that now gives the
national bank two dollars drawing in
terest for one dollar invested, and the
private citizen or banker on only the
one dollar invested. The great masses
of producers ask no more. no less.
And the reading workman IN the mine,
! on the farm and in the factory is
beginning to understand that no pro-
posed foreign colonial policy, whether
controlled by tariff. or open To free
trade has gone further toward impe-
rialism. and fastening the chains OF
the classes ON the masses than the
imaginary gold standard bill passed
under the 9uiSe of the currency re-
form bill. just enacted by our Con-
gress. The sound money plank | sub
nit herewith for the North Carolina
Democratic platform in the end
brings the same result as the free
coinage plank in the Chicago plat
form. but makes palmer what is to re
suit from the restoring of the unit i'm
silver.
Here is the plank that l wish the
readers of your paper TO consider be-
tween now and the time the conven-
ton is to be held in Raleigh:
Section /. That the Democratic
party of North Carolina adheres to
and pledges itself to labor for the
States. planned by our forefathers
re-establishment of the honest and
sound money basis for the United
and the founders of this government,
and established by act of Congress, in
1892. under the authority of the Con-
stitutiOn of the United States. when
they provided for the use of both
gold and silver as the legal unit of
value and standard of measure, and
I'VE propose to labor TO re-establish by
| a repeal of the law of 1879 that stole
the unit from silver. by restoring the
said unit to silver with the right of
I ted States. and to labor for a law to
collect one-half of all the internal rev.
, enue tax and custom house dues iii
silver coin, or bullion or silver certifi
I Gates. the other half in gold coin, or
bullion. or gold certificates, that are
secured by unit metal held in the Uni
ted States treasury, and TO labor to re-
peal all laws that prevents the gov
| eminent from paying off by tender
ing of principal and interest due and
one and one-half per cent. premium
ON any outstanding interest bearing
debt. bond or note that has been out
standing as long as sixteen years,
either in its original form or any
form. by any manner Of exchanging
one national obligation for another
form of national obligation at n diff
ferent rate of interest for the purpose
of perpetuating the life of that obi
CATION. and to require all national
banks currency to be secured as fast
as the bonds held by them to secure
their bills of circulation mature. by
deposit of fifty per cent. in silver
and fifty per cent. in gold in the Uni
ted States treasury. And the govern
ment with its minis to coin free or
issue free a national gold or silver
paper certificate of whatever denomi-
nation may be desired for every dol
lar in silver or gold offered
at the United States Treas
ury or any of its sub-treas-
uries for coinage or exchange for GER
tificates at the ratio of sixteen of sill
yer to one of gold without discrimina-
! ton as to the amount or who may
offer the bullion. whether laborer,
miner. merchant or banker, and all
bankers certificates secured by bull
lion deposits with the United States
treasury to be exempt from govern
ment or State tax on the amount of
the bullon-secured bills they have
in circulation.
Respectfully,