Newspaper Page Text
THE GAZETTE: TIETOK, G A.. FRIDA f , AUGUST 2, 1895.
Secretary Smith Speaks On
the Currency.
38 RECEIVED WITH ENTHUSIASM.
Large
Audience Gathers at Gaines
ville to Hear Him.
IEEE COINAGE IMPRACTICABLE.
It Would Drive tbe Country »e Ouoe to
Moiiomet.il.Ill and Produce DU*
natron* Itee.ilta.
hrt tkat they art tailar to bandit.
The Secretary thavad that It
not tka ataaip at the gsvsruasent
kilt tka valaa at tha thing Itaall
whlrh fixed lta exchangeable quality.
Confederate moaer had tka atamp ol a gov-
#r*n«*nt on It, but the tact that the govern*
inent did not bnve tba ability to redeem tha
lillla In annethlng of actual value deatroyed
lta exchangeable quality. Tha gold eolna,
however, ol tha Confeaeraey, are paifeetly
roll'll el 111, although the government be*
taaaed.
TIME FOR BAD MONEY MCHF.MKa.
Paper money la good when tha govern
ment la able on preaentallon to carry out Iti
prim lata to redeem it In aomcthna ol actual
value equal toll! lace. Tha atamp otagov*
arbmant on a celn la need It tba atamp trDa
tha troth about tha value at tha bullion
rained.
"Hlatnry," aalu tha Secretary, "leachee
that a had money achetua ahould ha exported
now. It coinea In the form ol a proportion
lot Ihe tree, unlimited and tndepondeut coin
age of allver at 16 to 1. Coinage at 10 tb 1
meana eliteen tlmea ae much allver na gold
in n dollar— SB gralna of standard gold,
413 1-2 gralna of ataadard ellver. Free coin
age moena without charge to tbe bullion
holder, but at tbe expense ol tbo tax payer:
unlimited meana to coin all that la offered;
Independent meana without referanca to tb<
course of other uotlona. In tho language ul
Ban Hill, 'I opposa thla propoaed legislation
because I lavor all ol Its pieleeeed objerte,
aud oppose all ol 111 real effects.'
Hon. Hoke Smith, In obedience to n re-
quest from tt number of tha citizens of
Ball cot'llly, dollveiril u speech on Hie
•urrency problem In (IniiiBSville.oii Files
day, July 23,to n lnrge und appreciative
audience.
Judge Klmuey adjourned court ut 11
o’clock, Hint the speaking might tnke
place in Ihe courthouse.
Secretory Smith xvoe escortod to the
courthigiai; hy the lollowing committee
In con luges: J. W. Odin, B. E. Greer,
C. C. Sanders, S. C. Dunlap, F. M. John-
»on, J K. Murphy. Then J. J. (Jollies
and l'\ M. Johnson, Hall county’* repre-
■entativea In the legislature, eaeurtfd
him to the stand.
Judge Klmuey presented Judge H. H.
Perry, knuwujln nil North Georgia n,
one of the braluleat and aturdleat young
democrat* of them all, who introduced
the apeaker of the day.
Judge Perry *poke with enrneatneai
and force. He aald that lie tlinnked God
the people had a man with them today
to discus* thegreat i**ue oftheliour.whu
dared to do right, whatever were the
consequence*. He referred tn tbe cam
paign of 1892 when thelnfluenceuf Tam
many Hall, which na* seeking to force
the nomination of David B. Hill, wae be
ing wielded agalnat that fearless cham
pion of tariff reform, Grovar ^Cleveland;
Vfben tb* Georgia elate convention met
there were soma men In It who bravely
•tood for the right, and foremost among
them wa* Hon. Hoke Smith. (Ap
plause.)
“That wae a great day for Georgia,"
he exclaimed, “when Hoke Smith saved
the atate for Cleveland.” (Applause.)
“wow,’’continued Judge Perry, “anothei
Issue I* upon u* and the only bulwark
of the people is that grand domocrat,
Grover Cleveland.”
He congratulated the peopli
that they had with them ao ablt
and distinguished an advocate of tb«
policy of the president as Secretary
Smith, whom be took pleasure In pre
senting to the audience.
Secretary Smith vrna loudly applauded
aa he rose to apeak. HI* audience wai
evidently there to listen,to be instructed,
to think; It was not a noisy audience,but
a thoroughly appreciative one, Itgavi
the secretary u closeness of attention,
and displayed a discrimination In Its ap
plausn in the highest degree compliment
ary to the thoughtful character of hli
remarks.
SECRETARY SMITH’S SPEECH.
Secretary Smith said:
"I am her# In response to your Invitation
to (llscmin the tlunnclnl problem, 1 shall sup
port the national democratic platform snd
oppose the natlunel platform of the popu
lists At CblCngo, In 1X92, the democratic-
parly, h.v its lcpresentutlves for theontirr
Union, voted down overwhelmingly the
proposition of a delrgute from Colorado to
lusert In the pisiform She word Tier,” which
would luire made the plsllurm declare for
free rctnnge of sllrei. Tho plntlorm adopted
when honestly construed,condemned the trei
coinage of ellver ut 10 to 1, snd the dele
gates, on the first ballot, nomiunted by s
two.thirds rote, as the standard hearer ol
tha party one, who,|ln 1885, hy a mi-Hang* tn
ceugress, bud opposed both the free colougr
of silver and the l!lnnd*AUIson act, aud who,
later, on February 10, 1891, as a private
cftlcen. In a public letter, declared the expert-
incut of‘free, unlimited and Independent coin
age of silver' to lie 'nunui-mus and recklccc.'
This nomination entphnslied the repudia
tion hy the convention of the Iree coinage ol
ellrer.
’’lnhall, also,show that this a sctlnn ol tbe
democratic party lain perfect nccoid will*
the tencblnge of Jefferson and Jnckeon, hut 1
am unwilling to waste time fallow Ing the
wordy harangue recently delivered In nut
state by that pntilot who served hla country
■broad with each distinguished hui-ccis at
k the appointee of President Harrison lathe
9 protection of for smile.
* “»'e hare been through a panic. Times
here Improved. Without stopping t* ac
count for the panic It ahould be borne In mind
that patties have ocecurred about every
twenty years, usually accompanies with die-
trust of the hind ol money used. Kret'y panic
has developed a party In favorothad money,
but with returning prosperity tbe patty hae
died. Relief from paalcu hae always come
through restoration of confidence, not
throngh bad money.”
- THE FUNCTION OF MONEY.
Continuing the Secretary said In part:
hlnney Is a device to facilitate tbs el.
ehange ol commodities, Property Is ax*
changed lor money that the money may be
exchanged for some other property. It* nee
la tn eaubloa man hnviqg property who
does not desire tn keep It to obtain some
other property w iilt-h he wishes tn procure.
Tile more universally terognlietl, therefore,
the value of the money and the lees bulky II
Is to.handle, Ihe more completely will It facil
itate exchange. Shells, skins, tobacco,har*
been used as money. It w m the nrtual *nln*
recognised In the community and their 'ale*
•t those points where the people "I the com.
anility traded that made them setrlceahle,
(laid ami ellrer are (letter than ebelle, eklhs,
tobacco, on account ol their marc uniter-
u*tU’ r-'-.gnlacd value and «m acronat of tha
THE MI.VKR1TES' CI.AIM.
“Tbe free silver advocates claim, first:
that tb* set of 1878 nes surreptitiously
passed and robbed the people ol nne-balt ol
the money of final payment; second: that
tor this reason Ihert la not sufficient mousy
ol final payment, aud the appreciation ol
gold has ileprecU'led everything rise. Upon
these two propositions their entire argu
ment* are based.”
The Secretary met these propositions by
Claiming, first: tbatthe alleged contraction
ol money ol final payment had not taken
pines; second: that the proposed remedy
would In reality drive one-hall the money
now In use out of circulation and produce n
contraction ruinous In lta remits.
He aald It w a* Immaterial, so tar na tbe
propoaed legislation was concerned, non the
act ol 1878 wuh passed.
"It would ha lolly to bring on such ill-na-
trouaconaequeurca for tbe ■ImpluaHtlsfartlon
ol repealing a InW improperly pasBud.''
INCREASED VAI.ttE OK MONEY.
The set of 1878,he clsimed, did not remove
one-hall Ihe uinnty ol final payment. In
1878 the only allver coin In the United Suites
consisted ul anhsldlery silver amounting to
• 17,000.000, which was not good (or the
payment ul debts In amounts beyond five
dollars, Therolned gold la Ik* United States
then amounted to anly 4185,000,000. Tbs
coined gold In. the United States, now
amounts to •(178,569,000, while tbe Htnnd-
ard silver dollar* amount (o •438,289,000,
and tba subsidiary silver to •76,773,000.
The total gold and allver, theralore, tn
1878 was $153,000,000, while gold and
■Ilvar now la $1,'288,000,000—eight tlmei
aa much ao In 1878. Tbe paper moaey. In
eluding bank nates la 1878,wae about equal
to Ihe amount now In nee. The per eaplta o)
circulation In 1878 w as between 818 and 810.
The per eaplta now Is between |38 and $34.
Or compare the volumeof money nailer tk<
proseat law with the velum* at any tlm*
prior to the act ot 1378. Take theyeai
1860, for example, when the Iree coinage ol
both gold and direr was allowed liy law,
There woe then, specie, $154,000,000; bonk
notes, $181,000,000; total, $385,000,000,
making a per eaplta *t $13.02, or only
about half as much per eaplta ae at pieseut.
Tha per eaplta *t silver alone|n the Ualteu
.States, which Is full legal tender, at present
la $9.08. Till* la a largai par capita of sllvai
than that ot aay date darlag tha period
whaa fret and unlimitedcoinages! allvar was
provided lor by law.
ENORMOUS PRODUCTION OF BOTH METALS.
It Is more tba* twice ae largo aa the pat
capita of allvar coinage found la any f:ee all
ver country, today. Mexico haa ■ per capita
of but $4.18: Japan,$3.14; and no other Iree
silver country has ao much,
“Tha rlalm, therefore, ” he aald, “that the
money ol final payment bea been reduced
ona-lialf. theieby depriving the public «f
aiilflrlant volume, la almply groundleim. Ve
sllll uea gold and silver, both, and have mors
than we ever had prior to the pnsaage ot the
aet ol 1878,
“The claim *l»o, that Inc currency has
contracted, thereby npp.-erlatltig th» veins
of gold, la nbown to be (nine by the enormous
output o! gold, lent veer; It tv us the Urgent
tn the world’a hlatory, and umnuut.ed to
$181,500,009.
. “The worla'n coinage of gold In 1898 ront
to $3112,785,000 mid that or ellver to »185,-
880,000, making tlui Urgent ycnrlv rnlaaire
In the world’a history, wllh poa-lhly one ex
ception.
“Tbe world’s stock In lull legal tender,gold
and silver, today la, hy the Ulcst atatUtlca,
$8,985,900,000 gold, and $8,485,800,(100,
allvet, and It must not he forgotten that
even though th* gold stnudnrd muy he In
force, the allver coined furnishes uioitcy ul
(Inal redemption to icllcve the presume upon
gold, Just as lilt hnd been coined upon u tree
coinage plan.
HAS OOLl) APPRECIATED?
“The claim that gold has appreciated, tlieie-
by dspreclatlag the value ol priiflucta, Is
based upon tbe theory that Ihe derreaaa In
th# raise ol sliver and In the vulue ol pro
ducts has bteu contemporaneous. A careful
examination ol the (acta ahowa this not to
be true, Tbe average da-reaea of couiMo'll-
Ilea slnea 1878 has been about 20 per rent.
Tbe heavleal decline hie been le the line ol
thona things w hlch the mannen ol the people
buy. All these reductions In price are partly
nttrlbutahlo tn a lessened coat ul produc tion
aad partly to the recent panic, h hl'o com
modities hava fallen 30 par cent, silver haa
fallen 50 per cast.
“Bat to consider particular articles: In
1878corn sold tor41 cants a bushel; allver
was worth $1.81 an ounea. In 1805 corn
sold for 53 rents, allvar wan worth 87 cents
an ounce, stiver had fallen Q0 per cant aud
eorn bad risen 35 per etui, lit 1878 wheqj
wa* worth $1,17 a huebel, silver $1.81 an
ounce. In 1878 wheat wan $1.84 a ht-ebel,
silver $1.16 an nance. In 1880whe*twnr
90 cent*, silver $1.04. In 1895, wheal was
85 cant* a buahel. silver <17 cent* an ottare.
COTTON AND SILVER.
Cotton. Thla Is the produrlloli In which
our people ate directly Interested. Tbe.clalm
that, the l alua ol cotton depended upon the
rlaaortall of silver hae beer, shown to hr
without Inundation, thle year. Cotton In llie
Mat lonr month* haa risen 80 per rent,silver
5 per cent. Prior t<* 1878, tho price of cotton
varied from lour to fottr reuta. C-ll,cr never
fell blow $1 29, In 1845 pulton’-aald'for
four c*nl.«, * Silver wna then $1,82 mt ounce,
Tha oulllon In a allvar-dollar la only w or th
52 rente; 25.8 grains of atandard gold are
worth 100 rents. It will sell for Ibm all
aver ties world. Itnow conalltnlea a meas
ure of value la tb* United Ntnlre, and a* a
measure of values wnrth.hnrrlngIbet-iilnngr,
In round numbers, twice nn millh mb the all-
v*r coined lato a dollar Then way do pro-
pie oxchaugn product*lot a wilier dollar aa
readily a* lor a gold dollar?' Vhy do they
gtrs.a hundred cant* werth of commodity
far a allver dollar whan th* allver bvlllon In
tbe dollar la only worth SOeeata? It I* be
cause tka government started stamping 412
1-3 grains at allvar ona dollar, and having
put tksm lato commerce aa wort k a hundred
rani*, haa felt responsible to heap t-ha coined
dollar at an exrhangeabls value equal to
the stamp put on II—to keep It tin to the
standard ot 25.8 gralna ol gold.
HOW SILVER WAS TREATED.
The government collerla $500,000,000
yearly ae tevenue. There aiv 428,289,000
standard allver dallara, Ol thla iiuiuher
about $400,000,000 are In circulation.
They can pnaa Into the treasury In.payment
to (ha government of obligations due at
thelf tare value. To prevent the number be-
coining ao largo that till- recognition would
not austutn thcti v slue It w aa necessary to
limit th* noiahet ol dollars thus coined. II
th* world's silver could n* tolncd Into dol
lar* It would break tha gorernmet to under
take to keep them m n value greater ih*n
the value of the silver bullion put Into thorn.
First, we Un ited thrlr colttuge under the
llland-Alllaun art, to $3,000,000 worth a
month. Thon under th* Sherman art ol
1890 we Increased the purchase ol silver to
4,500,000 annua per month. Thla bcnitn to
make the qnantltv so Inige that thssbllll.v «i|
t e u.-vernment in sustain (h"i* w «s t hre*'-
luril. (laneral distrust mi cause i und It he*
■ante neceaeary to tepaal the Mierma* act,
which wa* pulling silver on the gorarumant
so fnat. Now w* have th# quantity men
tioned, hut have stopped buying mot* bul
lion and ure gradually coining the bullion
linvP alteady bought, buying no morn
bullion except (or aubaldiarv silver.
FREE COINAGE IS MONOMETTAMSM. j
"The proposition la to t xke off all limit na
to coinage; to withdraw th* government
mppoit ot ellrer; to let any man wlto haa
illver bullion worth fifty cent* have It
■ taiupad a hundred cents. Without gov
ernment Huppnrt 412 l-'J gralaa of allver and
the pew allver dollar w unit! hs of the same
Intel changeable v nlnn. The qu. at Ion I herofol*
la: h hat effect w ottbl'ire* coinage hate on
illver bullion? V'ould 412 1-2 grains ol all
ver become worth as much us 25.8 grains ol
gold? Would tree lolungc give It n» ex-
rhnngcnble value equal to oar prigent dollar
la tho markets of tho world? lithe value of
allver la not doubled hy free coinage thru tbe
exchangeable value ol our new allver dollar
ut list drop to the actual value ol tho allvet
put Into It. Vs would not have Hmetallam,
hilt a gold dollar wott It tw lee na much aa the
silver dollar, nnd tlm allver dollar would
become tan statiduid meaattie ot value,
driving the gold dollar out nfcliculatlon. Wa
wuuld reduce our atandard one-halt.
A GOLD STANDARD SINCE ’34.
When tha uit 011793 w na pnaaad, Jeffetion
nnd Hamilton both determined to make the
now gold end ellver dollnie equal in value to
tbo then atandard of meuHureiuent, which
wae a dollar equal tn 24 8-4 grains ol gold.
They rerognlted the (scttkatthcexchauKahl*
value ol a coined dollar aiuet he controlled
by th* commtneri-lal value ol the bullion put
Into It. Therefore, they undertook to find
how many gralaa al ellver, anrulsad. were
eomnierrlelly equal In value t* 24 8-4 grain*
of gold. They drelded thet It required 15
Hues at many, and multiplying 24 8-4 by
15 placed 8711-4 grains of ellvar la a dollar.
Thla uadervalued said. For tb# first few
years, owing larguly ta th* lack ot qulek In
ternational coi»imi*lcetton It circulated to
■ limited extent, and then, long before 1884
want eatlrely out of circulation nnd we war*
o* th*silver standard, In 1884, JaeLeon
sought to restart bimetallism hut he wa*
unwilling to change the atandard upon
wbieh tba biiatueaa woo then helug duo*. He
recognised tha dangarto eoinmerre ol chang
ing th* standard. H* therefor* reduced tha
■mount ol gold put Into ■ dollar, so that un
der th* new coin*** th* bullion value of bolb
dollar* wosld he Just equal to lbs dollsrtheu
In ue*. snd at his Instants o now ratio of 10
to 1 was passed. It wse soon found that
thle sew ratio nndaravlued ellver, and short
ly alter 1884 this country went to Ilia gold
standard—38.8 gralna ot gold to tb* dollar—
and haa liaan oil It evrr since, with the excep
tion of tho tits* Incident to the war.
MORE AS BULLION THAN MONEY.
Under th* sow ratio alter 1884, eves frac
tional currency wss worth more when mrlt-
ad, than it* coinage value, and therefore In
1858 tt became neceaeary to provide frac
tional currency containing n reduced num
ber ot grains to tbe dnllnr, and thslr legal
tender mu limited to five dollars.
Th* Hpanleh milled dnllnr wa*
still tn circulation, hut the highest
amount of foreign sliver hy the estimates ol
the Treasury Itapnrtment, In circulation, at
any time, was $50,000,000.
“In 1800, the Bold circulation was $214.-
000,000, and subsidiary silver $31,000,000,
While 4,000,000 of silver dollar* had keen
coined, they had all gone out ol circulation
being worth tnor* when incited a* tier sllvo'
then their face value. Then* facts prove that
free nnd unlimited couisgu of both tuetnl*, by
the Unite I state*, did not substantially
nffert the bullion value of either mrtnl: flint
the cheaper metnl lierama th* standard ol
value, nnd the other went out of circulation.
LEGISLATION AND ITS EFFECT.
Many year* of expeilenre with bee and
unlimited coinage of both metals showed
that b.r free snd unlimited colttuge we were
unable tn rfleet; first, 1*,e value of silver, to
make It equal to gold at i fit t at In ol 15 to
1 j or second, th* value ol gold to make It
equnl to »llver at 10 to 1 alien III- dll/ereme
In tb*lr bitllllon value* w as only 5 per FeiiL
I* It not preposterous to rlslto that Tree and
unlimited coinage now ( kill so Increase the
value ot allrat, when (he dl*rr*paney la Bit
per (tent.
It eaunot b* claimed that the legislation
by tho Ualltd Stale* In 1878 **rloit-ly
affected the commercial t aloe ol *ll< er, for
aloe* that lint* we have ftirntsticd a market
for $600,000,000 of silver, very much mors
In proportion to our Increasing cum in err*
than wont through our mints durlau the
dsjsnffie* end tisllmllml coinage of ellrer.
Th* fall Iritrt-eol allver can easily lie ac
counted lor. In 1878 lit* world’a product
slallrar at rollings *aht» wsa $81,000,000;
Is 1892, It was $190,450,000; In 1898,
$209,106,000. and In 1804. $314,481,(ICO,
This eiiursinna Isrrasss III the product ot Mi
rer took place despite th* tact that allver
bad fa lieu In value 50 par rent.
FDRMElt LEGISLATION ON SILVER.
By laglalatlon pnn**d In 1872, Norway
sad Hwedtn and Germany suspend'd the
ruling# of allvar In 1870-4. Germany ile-
monetised allver aud pnt $890,000,000 ol
bullion upon tbe market* ol Europe, Den
mark, Holland, Russia. Austria, Hungary,
encli auaprndrd th* coinage or demonsllscd
allrsr.
Th* I.nlln Union, composed of Francr, Bel
gium. Hnltssrlsnd, Italy and Greers, wa*
forced tu suspend tha coinage ol allver lav
esna# It was found Imposalhlr, by ties coin
age, to sustain tbsvnlus ol ellrer bullion.
This was don* by suspension lor twelve
months at a tlm* Irani' 1874 to 1878, when
th* aitspenalon wa* made without n limita
tion n* to th* Urns ol conllnfiORCe. Klnr*
then India. Brar.ll, Argentine Republic and
Chile have •impended trs* coinage.
The vain* of silver bullion baa fallen.
1878. on acrouat of th* le*am*d cost ol pro.
ductloB; os account of the enormous Increase
In piodncllon, and cn_qrcouat of Unde
rleased dsmsnd. All ot the** rl*mr at» en
tered Into and helped causa the reduction ot
tbs value of allvar.
To restore tba pries olallverto Its value In
1878 you must ismove all the cauaea which
have reduced Its value. Concede tor the eak*
of argument that tha action of tue United
State* nr* un* ol tkoae cause*, It 1* Illogical
to claim that tbe removal ol this one la tu
remora the effect of all the others.
IT MEANS A SILVER STANDARD.
“But It 1* urged that the United States
should try th* experiment, *n<l II It Intlad,
then Abandon It or change th* ratio. Tbs
tacts stated show conclusively In advaica
that it must fall. To Pit th* value of 413 12
gralna of silver In the United Stats* from
fifty to o*e hundred cents It would bo neces
sary to lilt tbe value ut all allvar In tha
world to th* aante a*t»nt less the cost ol
trnnsportatlng It to tba United States. That
volum* today colaed la $4,051,700,000. II
the burden were only to ralaa th* curams?-
clal value ol the coined allver In those coun
tries whirs li haa dropped to bullion value,
the undertaking would still be dearly Iu-
posslnle. India has $950,000,000; China,
$750,000,000; Japan, $72,000,006; Uexlcn,
$50 000,000; South American states, $80,
000,000. A total ol $1,852,000,000 It used
by thsas countries alone. This silver,though
coined, circulate* only at it* bullion value,
Is addition to this, It tit* silver mints can
afford to conlluu* lncren»lng.th*lr produc
tion as they have from *81,000,000 lit 1878
to $214,481,000 In 1804, on a marks! which
hss fsllea BO por cent, w hat w ould they pro
duce on a market which had -risen on* hun
dred per cent? The volume to tie raised In
value extend* tn tlieeartli deposit*, aa well
as to that heretofore mined.
“Mr wet* enable In keep the value of the
alive.t up to pi Id under the Iree coinage *<-t of
1792. Me we-c nii-.blt- to keep sold IIP to
silver under tit* Ires colungo set of 1884.
Franc* and her associate* In thsl.ntln Uabtn
foil ad themselves unable to keep the sliver up
to gold lit 1874. The failure t'f the-e praetl-
I i--[.t- , it-l-r Ter more fur* r-'bl- rlrrem.
-1 ati ecu than those of t lie pi > s.'ll I, di-iuuB-
,tinted how ridiculous 1* I he claim allheall-
trr advocates.
“The** fseta, fairly considered hy any ona,
will brlmt ihe conclusion that free coinage it
lti to 1 means the u*s *1 no coin but Oliver;
means n new si sn-tni d ol m*a*ute equal la
ruble to tbs pteasnt eomiuer-inl vnlu* of the
bullion now put Into a allver dollar; tstsua
h new dollar worth only nopruxlmatelr
lis'I ms iMitrh an tha pi#«ent dollar, and tha
measure of all vulue* hy till* new standard.
MEANS POVERTY ANII DISTRESS.
Th* Immadlale effect ol tb* elect Ion of a
president committed to such a policy would
be the separation of tha gold and silver dol
lar, tka gold dollar golag to a premium ol
about two lor one.
Ms would lose at one* $6 78,000,900 at
gold now In circulation and In th* tiiaaury.
The greenbacks aad treasury not#*, $075,-
000,900, which wonhl still remain eiitataad-
Ing, w mud ba hoatdad la the hop* tbst • fra*
silver bill, It passed at all, would b* soon re
pealed. Thla would take place Immediately
alter tha election ol a president In Nevember,
189C, and probably even alter th* nomina
tion by elthai of th* great parlies of * free
illver candidate. Tb# new president could
not b* Inaugurated unlit March 4, 189T.
During the six months or mors btfor# It
would be possible to pss* Ire# ellrer legisla
tion, th* conti action el the cuireucy Just de
scribed would precipitate th# most serious
coaasqutaaea. These owning gold obliga
tions would put a strain upon th* ramalnlng
illver surtsney aad bank not**, to bay gold
to m*et Ihalr gold obligations. Th*currency
consisting ol check* aad bill* of axahanga,
amounting to 95 par sent ot our aallf* cur*
raury, would go out ul Ul* la ronarqueace of
loaa of confldoac* and credit, aud the result
wosld bathe withdrawal al 07 l-'J par rent
•f osr entire cerraary and th* paralysis ol
bnilnoa would lmm*dlat*ly follow. Hash*
would ha raided hy their depositors, Uredltor*
would aaak to enforc* their tlabla before the
reduction ot the standard to the allver hss'is.
No extension of debt* would It* alr*n to any
body, except where mud* payable In gold st
laervsssd rtt-s of Interest. . Lone lime debts
nr* in gold. Th* amount to he tislil on them
would not hs isilii'-rd. ltidublcdn*** no*
payable In goltl w mild b* i-tillseiad at once or
the protterty oil fled ! y debtor* taken from
them. Merchants would full: mnmifaetorlts*
clone; workmen be Idle; furm products with,
out a market, snd poverty and dl»lre<* he
found on all side*.
HELP ONLY HII.VER OWNERS.
“Ido nut helluve that s president wosld
ev*r approve suck legislation. II *lret*d
upon n platform with a rongre** ploducd to
pans It the Calamitous effect* following such
an cioctlon would bring to tltsrn thnprsvec*
of the very men w b“ elected them appealing
for the dt-f-al of such leulslutlon. But If «ueh
t Utv ah mild p*** It would not be called un
til the 1st let par t of 1897. Then a general
adjustment to the now standard would he
necessary. I’rlcc* lulng trinpuralll.v reduced
on account of th* panic, It would b* some
month* before the actual effect could lie (old
mid the real v*lunol 412 1-2 grain* of allvet
determin'd, During Mil* tlm* bu*ln«aa would-
| stagnate mi arc-mint ul the uncertainty**
to what t lto r»sl else ol tbe new measure—
the new standard • ! value. This would ol
roursc, niora or loa-. affect buslnes* perma
nently breau** the rnluu n! silver
bullion haa liocutu" uucertaln: h*s ceased to
bn stationary, ou nermiut ol the few conn-
trie* now using It a* * standard money, ami
on account of th* uncertainty as to the vol
ume ot Its probable production
“No practical benefits can tie pointed out n»
i a ronscqitsscc ol the IcglHlntlon. It would
lulsrferc with our aXebniige* lb foreign trade
and prove a burden upon th* producei* of
our great staple*, cotton, corn and othsr
grain*. By hindering International com
merce It would liurd*n the agricultural pro
ducts ul this country like s high protective
Istlff. Net only would th* nt«n who work
lor salaries hs deprlvad, at lealt lor a while,
ol employ nient, but when enabled to retura
to work they would find tba dollar paid
them as wage* depredated In value, a* a
cussequrnr* i f a change of tlandatd. Tbs
only possible hsueflt would tie from a limited
larrtas* In th* vslue of silver bullion which
would go Into the pockets of the great sllvci
tnln* ow *er*—th* men who reallv at* back
ing all this agitation and furnishing to It Its
smew* of war."
t'onr lulling lie said:
TRI E DF.linCEAUY a.NU SI.'WKHK.
“Tbs pleturai* not orvrdrAW n. Vhenleon.
template It ther* I* but one amin-e ul rone
lort—It lean abiding rnalldcurs tlintjnlth
twelve month* »| lull, lie# discussion, tlm
A met Ic ft a people can b* tcllvit upon to over-
w holtolsK defeat any party which proposes
to bring auclt dlasatert upas it*. ,
Instead of freu silver at 16 to 1, which
mvans sllvvr monometallism, a contraction
ol Ihe cutreary and a temporary and pvrinn.
nent Injury to bullies* which' has hreit dc-
•cribea th* secretary urged Ihe nereolt.r
lor n Sound eurisncy c*nsl*tlng ol
gold, silver aud pspst, but every dollar kept
aa good assay other dollai. Tbl* woubl
allow ik* calnaga ol all ellver which could h*
field at an equal axchaagsable Tain* with
gold. This would allow the Improvement ol
our basking at slam era* to th* extent <>t re
pealing the tax upon stats basks uader well
prepared provision* rexulatlng th* laiu* ot
notes and glvlag aalety to tha bill holders.
“It Is a source oljgratlflratlon to democrat*
tn know the trouble* of 1898 were brought
upon th* country hy th* unwise legislation
ol th* pisvlou* administration. Your repre
sentative* at Washington ware coafiruntsd
with many difficulties. No civil crltla'has
been tnor* serious.
“Let tbs rvturi. of prosperity; let the dally
new* that tactarts* art again at work, and
that one million wags earners hays had tfa*lr
wagta Increased; 1st the rl*s In valae of farm
products, tell bon tb*y have succeeded.
“The McKinley Mil bna beta repealed; th*
credit ot the govsrnmsnt has heeu preserved;
money h«a been kept sound, and w* will go
to th* country In 1896 with tbe democratic
party fighting further high tariff legislation,
opposing bad mousy, and assured ot success.
A Well-Known Hatlroad Man-
Jacksonville, July 2,1894.
I have long been a sufferer from Indigestion,
bilious headaches and torpid fever. I tried one
package and ono bottle of Simmons’ Hepatlne or
Liver Cure, and found it a specific, and I cheer
fully recommend it to all suffering from like
complaints. C.w. Lake.
E. T, V. G. It R west Bay street.
For sale by Jake \Y. Faulk.
T. C. JEFFORDS,
DENTIST,
SYLVESTER, - - - GEORGIA.
Crown und Bridge Work nnd Oral Surg
ery Specialties.
Teeth Extracted Without Pain
By ttso of "Tiimlmn," which positively destroy*
all scnHe of pain, anti docs not put you tn sleep.
Special reduction when several teeth are ex
tracted, or plate made to replaco them.
GET THE BEST
When you are about to bay a Sewing Machine
do not be deceived by alluring advertisements
and be led to think you can get tbe best made,
finest finished end
Most Popular
for a mere song. See to It that
you buy from reliable manu
facturers that have gained a
reputation by honest and square
dealing, you will then get a
Sewing Machine that Is nbted
the world over for It* dura
bility. You want the one that
is easiest to manage and Is
Light Running
Thera Is none in the world that
can equal In mechanical con-
■traction, durability of working
parts, fineness of finish, beauty
In appearance, or has as many
improvements os the
New Home
It has Automatic Tension, Double Peed, allko
on both side* of needle Ifattnted), no other has
it | New Stand (.talented), driving wheel h ngsd
on adjustable centors, thus reducing friction to
the minimum.
WRITE FOR CIRCULARS.
THE HEW HOME SEWING MACHINE CO.
N - Y
ai* FaAKObl-oTf»!.. ATLANTA, li*.
roil BALE BY
J. G. Dedge, Tifton.
t ,000,000 People Wear
1
m
u
Dougl
las SI
toes
HAND
SEWED
PROCESS
$5.00
BEST
IN THE
For Boys
aMYoitte
Wear W. Ii. Dougins ihocs and amvo from
•iVoO to 83.00 n pair. , All Ntylea and
Widths. The advance tn leather haa Increased tbs
price of other makes, but tho quality and prices ol
w. I.. Douglas shoes remain the same.
Take uoauhimutc; ire that Hams and price II atamped
on sole. W. Dougins, Uiiocxton, Mass. Sold by
J. Z. Elliott, Sparks.
JANIES HOLLOMAN,
DKALEK IN
««
FRESH FISH,
FRUIT and VEGETABLES.
TIFTON, G,\.
Free Delivery to any ptir( of tho City.
Tic Till 1 Si® CobIj,
TIF10N, GEORGIA. 1
Fruits and Trees for Sale.
400 Acr«i in Nursorios and. Orchards.
The largest grower of Triumph Peach.'
—Kxrllest Yellow IVncfi in the world.
S KN1> -:- FOR C AT AT.OO V K