The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-05-29

slider in the Cleveland bond expIana-
ton when he was acting under the ad-
vice of the greatest money specula-
tors in the world, is that this bond is
sue was of no earthly benefit, except
TO the money Spectator.
And was advised by them, whose en-
tire notion, object and purpose in fl
nance was to secure their own bet
terment by the difference in interest
ana foreign exchange on money.
These men were the final results
more perfectly systemized, of those
who had preceded them in throttling
the principles and basis on which our
primary money was founded and pro-
vided for in the Constitution of our
forefathers. The violation of this Con-
stitution, in so far as it related to
our money, with which our labor and
our honest debts were to be paid, oc-
Cured in 1873.
Which was the result of secret collu-
sion between the money Spectator and
purchasable politicians to make posi-
BILE the great speculation thu have en-
joyed on the war debt.
So rich was considered the posi-
blities of the bullion metal deposits
of this country. that it was believed
by Mr.. Lincoln that by directing both
the emigrants and the discharged sol
diers to the rich gold and silver mines
of the West.
That under the honest monetary sys-
tenn provided by our forefathers, we
would in a short period of years cam
eel the entire war debt with our phi
mary redemption money.
The note and debt purchaser of the
governments obligations in those darE
years of struggle for the Union, bought
them at great discount.
Not being satisfied with that dis
count or willing to aid in the indus
trial progress, or in restoring peace
bullion in which the legal unit OF
value was established from the rich
treasures of gold and silver hid il
our mountain Businesses, with which
TO redeem, not only the Outstanding in
terest-draWing contracts and obliea-
tons of the government, but also the
greenback which was promise to pay
without interest and to be finally re-
deemed at the Treasury in the legal
coin of our forefathers
They were so ambitious to become
rich fast, and to collect from the
richest nation on earth unearned in
terest.
That by collision they got its peo-
pie at that time through their repre-
sentatives, by the same character Of
advice that Cleveland took, and from
of New York, being given to the peo-
pies representatives in Washington,
deluded them into striking out tile
safe, just, financial constitutional pro
vision for our unit of value, lnain-
tanned u pto 1873, to settle its debts
in the coin of the nation, at the ratio.
that had been practically maintained
since the foundation of the govern
ment.
me Democratic party had given
Cleveland the opportunity TO rectiiy
the wrong and .re-establish Democratic
monetary principles.
For he knew that first they secretly
destroyed by Congressional legislation
the right to cancel any part oil he
war debt except the payment to The
soldiers in the greenback currency
who fought to save the Union and
had been paid in them, which was hy
law a legal tender, yet promise to
pay.
Our Constitution provided for the
redemption of all our outstanding OBJ
legations with our primary money
greenback being construed as an obll-
CATION to be redeemed in coin or bull
lion no matter which so long as it
bore the Government stamp, certify
ing to its true weight and pureneSs.
The people understood this currency
and were happy with it, and it was
just and right that they should be, be-
cause the greenback was legal ten
der, and the largest currency in cir
culation at the close of the war, yet
It was a promise to pay.
Therefore, it was q promise that had
! to be redeemed, and its only redeemer
was the already primary gold and sill
| yer unit of value under the Constitu
| ton.
| But for some reason no doubt to
make it appear that it was to strength
| en- the nations credit (because this
was the way that the specuiator in
money ever cunningly advised). They
wanted the law re-enacted, that ali
outstanding obligations were redeem
able in coin instead of using the We I'd
| specie.
| Every one knew that coin could not
be made higher or lower so far as
| the coin itself existed, because by
weight law had already fixed that so
many grains of silver and so many
grains of gold should represent the
unit that constituted the measure of
value in the metal of redemption.
So there was no possible chance for
a loss or an injustice to occur to any
holder of a single Understanding
outstanding obligation.
1t might have caused some of the
| holders to have waited longer period
than might have been satisfactory for
| specie redemption
But the interest would have been
| promptly paid in specie.
| But SO long as the honest primary
redemption money with the unit III
both metals prevails, there were twp
producers Of honest money two hon
est bidders for every commodity IN
America and for every laborer's toll,
and for every interest drawing obli-
| cation, and CIeveland's platform was
/ pledged to maintain them.
So the money Spectator, il Cieve-
| lands platform was carried out, didn
see any way to control his securities
in a manner that would keep them OF
| :. speculative basis.
They then conceived the idea that
| if the redemption fund and facilities
! for producing it, could be in any man
ner reduced, by virtue of the floating
| debt being juggled and legislated with
in such manner that it would de-
stroy half the Governments ability fol
producing the primary redemption, II
could keep the control OF the currency
! in the national banks.
i So they quietly and under the same
| Kind of advice that persuaded Cleve-
| land and Carlyle that it was q good
thing to pay all in gold. had killed
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