The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1901-06-19

M: Z. G. |. = lIAc :.4JSts.-. ,. as -" ~
the votes Of the >: a es In tue Democratic
convention. would have opposed the free
coinage of silver Tneu what was the OBJ
iect of tn Sc men? 1t would seem that
there could only be one solution. The
delegates from the West were personally
interested in the free coinage Of silver for
the reason that, if carried out. it would
open up the Western silver mines and
double the value of Western property.
The east would have been injured only by
the unsettling Of business. The East and
the West could by a coalition obtain COM
plere control of the finance and commerce
of the south. All contractswould have been
gold contracts. Under the free coinage law
there would undoubtedly be provision
by which the Western bullion would be
presented to the mint by the Eastern
banks and form basis Of permanent and
constant credit for all Western transac-
tions The banks would control the bull
lion and the rates Of exchange, and thus
what they would lose by the depreciation
of contracts not already in gold they
would about make even through their
Western connections. But the South pro-
duces no bullion. 1t would have no need
for main taining reserve in the East such
as would be created for the benefit Of the
West by the bullion.
All OF its contracts would be gold con-
tracts. For all of its money it would be
dependent upon the East and be compelled
to pay whatever rates the Eastern banks
saw fit to charge. Then part of the
same scheme was to prevent the Demo
cratic policy OF the repeal of the tax upon
State banks, in ord to prevent the South
ern States from having any circulating
medium whatever for local purposes. The
West would have its silver as a basis for
obtaining the gold and the East would
control the gold; the South would be pre-.
vented from even having paper. and would
be under the absolute and complete and
perfect control of the East and West.
When I made ighu in the House for
the repeal of the 10 per cent tax Mr.. Bryan
voted against it, and / invite your atten-
tion to his ucterances at this time. which
fully confirm what l say. Congressman
Bailey of Texas, one of the ablest men IN
the United States. called my attention to
the sinister attitude of Mr.. Bryan at the
time The Western silver mine owners
were supposed at the time Of the Conven-
tion to put up the money for the cam
paign. But the East had become so largely
interested in the newly organized indus
tries OF the South, aad so much Eastern
money had been withdrawn from the
West, and found profitable employment
in the South, that the Eastern bankers
saw that they had as much to lose by such
an arrangement as they could possibly
gain ana declined to enter the arrange
ment demanded By the Western mine
owners. At this point, which occurred
when the campaign was at its height the
promised contribution to the Democratic
treasury failed Jo come in and several
wealthy silver mine owners made visits to
New York. then returned to their homes
ioipaG ho Y hljraO marry
Think of Senator Stuart forgetting the
crime of 49,
Cp to this time a number of States
were admittedly doubtful. Those Of Mary
land, New York. West Virginia and In
diana were notably so. But when the
financial scheme fell through there was
no longer any doubt as to the outcome OF
the election, and the doubtful States all
gave greatly increased Republican ma
jorities.
The trouble with the South has always
been its clinging to traditions and It's lack
of practical wisdom in preventing the
other sections from imposing upon them
bv under-handed means. The South is
solidly Democratic, for nowhere in the
world is there greater love for freedom
of speech, liberty of thought and action,
and absolute justice. which are the foun-
dation stones of the Democratic party.
But they were asleep in 1896 and 1900, and
totally ignorant of the reasons for this
new issue being forced upon them. 1t
was in the Democratic platform and they.
therefore, voted for it. Now it behooves
them to consider why it was in that plat
form, and they will learn that instead of
being Democratic it was counterfeit to
be spurned and cast aside.
The South should now take advantage
of the fact that it controls the Democratic
party and see to it that those principles of
justice and equality which lie at the foun-
dation of Democracy are not again de-
parted from. and that no scheme for the
enrichment Of any section for the benefit
of any other section shall ever again be
Incorporated into a Democratic platform.
When l called you over the phone for
permission to make my reply public did
not expect it to grow to such length, but
it is great theme and its importance is
my apology. Yours respectfully,
JOIN LOWSDES NcLAURIN.