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The people's journal. (Pickens, S.C.) 1891-1903, March 08, 1894, Image 1

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Vol. 4.-PiCKNS, S. C., THURSDAY MARCH 8, 189.
It. 0. JIow .N. 1j. . C 1.11.
fOWVEN & ('illi.IDil'>,
Attorneys at I. .,
DR. J. W. NOlRWOO). Dontist Dr.
.IW. Ml. Nurnvoon., Assmistan.Ollice,
88.4 Main 8treet, Greenville, S. C.
Jan. 0, '92 y
DR1. J. P. CAlRLISLE, Dentist, Green
ville, S. U. Olli'e over Addison A
McGee's Drug Store.
R. J. F. Wi 1,1,1 A NIS k 'ow perIla
nently0% located nt Plickens. anld oil'ur
hi- Professilonial S.rvice.s to the peoul (it
theltowI anel s y. Of
flee ami residence ait the Grillin House,
Oct. 26-3m
The ]Exchange Hotel,
GREENVILLE, S. C.
C. W. HENDERSON, Proprietor.
Modern Imiprovemnite. TMr.y Roo)mnS.
Speelal attention to Comnercial Travel an
Tourists. rnble Fare Unsurpassed.
Flue Climate the year round. Ap. 7. t''x
J. E. HIAGOOD, .1. to. TIIOR: IJY, .11n
1L. C. THORNLEY.
HAGOOD & THORNLEY BROS.,
LWey, 701, Ball a 110hCnge slls,
Easley andlPickens,'S. C..
(Opposite I otel.)
Carriages, Buggles. and Saddle Iloises, ut
reasonable rates.
ia Your patronage solicited.
ABE CLARK. GO1. P". COOPER,.
Clark & Cooper,
Dealers in
MIrbiB ai Gnirue Monuent8,
TOMBSTONES, of every description.
Also. MANTELS, STATUARY, VASES
and Wrought Irwn FENCING, Greenville,
S. C. Sept. 1!). '91.
If you wanlt the lineist PlCTUES madekL
In the State, go to
Wheeler's Studio,
1it 3 McBee Avenue G ree-nv ile., S. C
S- Crayon Portraits a specially
April 7-y.
isses OCcy
Hits rcady fi nspectio,
Latest styles iii
Walking Hats for Ladics
and Children.
Infatnts Caps aind b
All tho Noveleties of t Sent n.
6'All Goods sit Cost foi :10 (y-;.
PRIZE W IN P
hef prei qer ol. e t 1n'.(. :
If fu l Watit. alli r :n elf 9
By the Carpenter Orgcm.
1,WETPRiC'M F01 R tAstll
W. J. B. STILES.
Nov S, 93
DP)ealer . in
M~ches, Diinds & Jowry,
GRE1ENVILIE, S. C.
REPAIRING A SPECIALTY.
Oct. 19.--3m
CO TO
To Buy the best D)RUGS, at the
Full lhne of BLANK BOOKS, STA
TIONERY and S 0 11,0 0 L SUP
PLIES.
Closing out our pAD NTS, A T
COST I
A full line of ARtTISTP'S MATE
IALS.
D. T. BACOT & CO.,
West Greenville; S. 0.
Oct. 5, 1893.-6m.
$100 Rewa&rd
For the Merchant that gives yon
lnore Goods for your muoney thsun I
wil'. Just notice the f'ollowinig pri
TorrhNG--N~w S-rueca.
Youth's Suita at 4:*7 4
Do. do 4.7 5
Do. do 5,.5"(
Men's do 4,75
Do. doqo
Do. udo 7.0"
and up to t15.00.i3
Coffee 10 'poin'.s to the dolIit'.
Cotton Checks 41 c. hy~ thel bok1.
3-4 Shirting 4 ie, a ."
Prints, all styles, fromu -1. 14 ~ to (E
all color8 7 e.
00God0<1.0rga~ n hoes 7i5 cenlt oil -
er' Shots ipopor 'H.
A 1.ot of Shoes, smnallI mal iar
N0r., at cost.
Chuildrens cours~e shioe is 1 2.
Jeain at 18, 20, 04 a :8o (('it
Can't be Ib'at at. the pi
1 wvill buy yonel lit L CJ-tton, Seedl
Cotton, and Coltoni a~d.amre
*ppces. Akio, dr y or' grs'n m ds
lilum, aro now w~ith mue, and will
be glad to meet thu.eir friends.
Respeomiully,
-7. .I. Bl'0Wi
'or
(i'~ t' 1v 1 :- I 0f ''r a ! I
th oM b k h nadia
tiiirtrlonag in te ht futie.
.1 have e 11 'i Pdind, No). . lem
toln Stvet, ren~ted nfitil i svl ISt, n:
froin now; kntil thAt t imi prp s
oler Goods at. prices I hat :I!1 will
knowle!ge as Bagilgnin. I have t<
iIIy good tiey m'lust go before
have to lhve to ote Ig I ters.
1At. Dr-ess (oods -- To ,-41 t hem, a
winlt.r 'igis w1 be swl d a;t. a serl
ice. Th ooli renw nothingol
orshl-on
2nd. Je:mis and khnAls-I have
lot of thes, o. oi R J~d and Whlt
Flannel min I- hi, so~ld :and tie kil
has been put m tle pni1e. Jeat s wi
be sold at artial mill price.
Cloaks-1 have a flw cloaks onl han
3 Cloaks werth M0 e will sell 1(
$3 each.
1 ( 'lo.k worlth s!) wil sell for :
I Cloak large size, worth $12, wi
sell for $8.
A few eaivcip Cloaks at half value.
in goillg Owiogh te stck I fou11
many relints,- all of thee have bee
marked at a pice :u placed oni th
reInatit cointer.
Shoes-I have I bi g stock of sio
somue of the best l:kes, lleiier's Bar
ister's and iess' Mlns Shr,e and J1
Fauist & Son's -:lie 1 1nd m11 isses Slo(
will be sold at :1 s:iiice :s I do nt
propose to carry Ih 'se lin1s:1Ny lon
er. Thek ittle Gi-mt SI*bou i h'' I
ie ualed flir c mt i a1 n 1urb1 i I in
The knife I s a sao b.. iut in t 1h-i
Ic te. Now i. n (;; i oity (tos v
mone~l~ y For yousl if . o ne11 ed-l an
G1oods I hav1\" in! ]:I\ <ItCr.
rally I w 'i yi' w
Ile the D1rv ( o1- L - a i \e
I V
I *
I~ -U i. Lr
Splil o m his
Tablies, Washlstnd(s
Warid robes,
.Iurea us,
Bedlsteads, M11altrasses,
Caripets,
Coffins anid Caskets,
Day and Night.
Telephcone Nos. 0 1 aml .5
Night calls witl beh ;answered by Tek
phone iNo. 38.
S.\lhl & STI'FI[,
63 and 65 .Maitn N reet, (b cenlville, S. (
Drugs!I Drugs
A large stock of ~ )~ CO l Si 1W Ul-I i
wilt cure yourII C( n 4i s :auol I'tts.
A\ full line eti 1 )iuIi t tI* )L.ASSF
ad *4ol'ECT.\ y 1Ior l. I 'i Pye . I i
ji4l g I' l' :s.) p' l t
\11 I i t I
T -i
1i
Cunrcton in ' Iy. viho l b j
ng fotI the South Ca 2rolinma CottLon(
-O. 5)Lir
This Space is Reserved for the
new firm of
JiNES & -ARRISON,
Who will open at the old stand of
a Li> & JoNE, 9 Pendleton Street,
on or about. t: 1st of March, with
11 enltre new stock of
DRY GOODS, NOTIONS AND
SHOES.
)m' Mr. A, J. Jones will levev in
a few <liys for New York, Ios(on,
I ' 11paI and Ba] ltini0Te, for the
I MY-- of imying" the sfock; andi at
tlin grtv redlne'Ql prict' lor goods
vein- asnwe will be(, inl po..
tII - vil' to the trade, goods] at
]" r .ice than ever shown in this
y:V :nI soheityour patrollage.
A. J,%ri Jonus,
Ii:xju- S. (t inu1isox.
P *. \ if will Ie s e . that t he
irm < Piar .icnes lits <issolved, I
a 2 i gnealfor the.if
il tha t uni cal trily
n lem tiat, after the first oh
1: re I canl 111 lo it more1- to yonr
atr o mlwith milthan:1 e'Ver
P LL S.
EN(_dASil HB\N I.
The only gelminle eltre fi I.-st Manhood,
hatist1S ' \Vitality. ,' .a M .1ioy 'li
I ltions of 4he14 heart, lI'renituri Ievay, L2ack
- I IInfidene. 1ibm-ilit v of tit, ; larrile (ei
Ih r ,1n .lIes.amilcy, 111 4lf h Mil
I posdeitvl guartee44 theseI Pillsi (:0 do)
eveyii lng 1 (1aitn for' thieii-so stron1g l
1large (xy. D~oi.:.ani LPAcicor, winh ought.
forl onlyI '.. 44nelo4EC ten two-ceent. stailups
inI a letter with yttri address lSwrit teln111 yhin
y , and1( yott w'*ill r'eeivEI the P'i ll byV retttirni
luit youIl will nlever r'egre&t. thle da~y tihat. yon
whlose ininence114 beside rest oritig the1 Vil
force, e*xte4ii itelft to the intel lectual fat
I he banle olf life an114 resitorietig its bulessinig..
liendl till' fol lowinug tesim~nls at~is to
whiet.hetr I tUni ( enintg people14 or lnt.
"Th'ie 11rial pac~kage of Ner'vous Debli ity
I I'ills yotll sent tIhone me1 good. I was tron1
b ld with whatU . I (Ucall lUIhenmalti14n1 ill lny
11.llN A'1. W IuNM, Waiuton, town.
1 4?2nN4 W.\TT1 i,4Co1llington, N.
I\l l gr( , )< .l ee Ir d eI 11' tutreie d t 4 1n
any11 . .diia1 4In e ever1 II aken.'' 41 111)
"Re enel tn-nndi-i eI i~ : it 4ni
will 2 lh r 4.2 inIre.
* ,,n4 11W 44 Is, l .o 01 9 I, ii
\ 4 4liln 1in t' i \ ' j atli lli
w h p i. n r I4. 4o I- .\l j IS.od
t u of he ;..ael 'r In; t I la 4 II . I 22-k
aln.. I beabove i:, : I . -
tI .y \: it -1..: 1 ''< n1
* 44ante toI ent you, I 1)
* ' li4'
4 .4.-1"1 .1 Ii '
50114 II 111)I II
Dr . I-. Smt.h,~~si yt
i . lll i feb1 alere'. 'No.Z,1~a
i nlos tw dinesin ourleter.an
Extractp Froa The
SPEECH
0 r
HQN. ASBURY 0. LATIMER.
IN THEI HOUSE OF REPR ESENTATIVES.
Mr. Latinor said:
Mr. Chairman: The silver ques
tion is general, including that
branch involved in the bill now
under consideration, has boon so
frequently and so thoroughly dis
cussed by able men on this floor
that many beliove the remark I
have heard sovoral times in the
last few days, that "nothing can be
said on that subjeot." Of courso,
that is an exaggeration, as every
speaker presents some now viow;
but tho question is, can anything
bo said that will tend to promioto
tho correct solution of the whole
problon and benefit the general
welfaro without infringing upon
individual rights? I believo it.
I am a now ioiber of this lon
orablo body, serving my first term,
and have deened it prudent to sit.
in my soat and liston to those of
more age and experience through -
out tho ontiro extra sossioi, and
the prosent session up to this timo.
I havo hoard almost overy speech
for and against silver coinago, and
yet nio man l has given expression
to tho thoughts that are of the
most burning importanco in my
mind. I regret to say that I have
heard able men discuss this ques
tion fron a sectional and partisan
standpoint, and sock to gain
strength for the sido represented
by arousing sectional proj udices
1ndml partisan hatred. This ques
tion is, in my opinion, a great,
iroad, national question, in which
tle whole peoplo are alike inter
sted, and whito I have tho honor
to epreient in part the grand old
(,('m nnollth of South Carolhia,
I stand hero as a moiber of the
I lonse of Represontativos of the
C ..ongross of the nlited States, an(d
co1ceiVO it to 1)0 my duty to legis.
lat for the bonofit of the wIiol(
peoplo. [Applause.]
South Carolina expects this of
me, and for that purpose has hon
oe( mo with this position. South
Carolina, sir, is not tho largest
Stato in this Union, but in my
opinion, it is one of the best. It
has boon prolific in patriots and
patriotism since colonial times.
South Carolinians have always
shmown~ a willingness to bear their
share of the burdens of govern
menit, and tihe very patriotism that
pr ompts them to do so gives them
thle coutrage to demand that they
be allowed their share of the heono
fits. They have long realized the
practical Jpll~ication of the doc
trino that national legislatinn can
net be onaetod )vhich benefits one
Stato or section~ at the expense of
another without binig in direct
conflict with the fuindamntal prin
ciples of this Governmuent, ad,
thoroforo, tonding rapidly to its
destructioni.
TIho idea is utterly foreign and
rep~ulsive to Americans, that the
States of this Union can prosper,
like a p)ack of hyonas, by feeding
up~on each other. If a legal blight
or. political curse falls upon South
Caiirol ina. anud robs the honest piro
d neer, Maine and California, with
al11lihe other States, must in time
feel the evil. Every line of the
Coas ittion brea01thes co-operation
between the States. They can
r'ach the highest degroo of pros
p'ri ty ad dlevolopamen t by co-op
raitinig together in) 01n harmioni
hJolo. Tlhmeso truths aret fun
:ianei-nal, and I fool that I would
pI~rop)erly (discharge the high
ny giving expressioni to thenm
-et as thle bais of what, I have t(
iy in hiohalft of the passage of thiu
bill.
'hnI( conlsiderat ion of this quers
un isnturally dhividedl into tw<
parts: first, "Is it right?"' second(
l' it expedlient,.?"'*
is mr -uwr ?
'I hai iiuestion 0opons ump at con
sideraltion of the bill upon01 its nmer
its and its relation to latws already3
in existenice, and to the wants and
Snecessities of the popIle.
The .bill provides that about
$55,000,000 in silver cortificatoi
shall be at onee issued by the Sec
rotary of tihe Treasury against sall
enor bhnl nn now lying idie In tha
redvem thea silver cortificates i
fast as tihm mints ennt coini tho 1)hu
lioni. It a4lso provides, fint. tho Si
vor hullionl purhas d odr th
law of JuJly 1-1, 1M90, ho cotinei'd it
to legal-tndr stalard silver (o.
lars-, and lwid for. tho re0domptio
of the legal teilder coin Troasur
notes issi'd f1r iho purellaso c
tho Said bullion, and that Who
those notei's lu-o rede('mo(d th
shiall b(, de-stn royvd, and silvor col
tificates isseld against. (elposits c
The ovidotii ohjoct inl [providi)
for the innmeiazte issuo of th
$55,O,00 inl silver crt.ifieatos i
to ioliovo tio TieI'iasiry hy suppI
illg it wit It that. aititiitt of voad
0ash for 'Cirrieilt ell)ses. 'Th1
object. wouild it ho secured b;
simply r1eqii ti w coi nage of th
bullion, lVi:IAu 1hw capacity a
the Itints ar'e uhl that it, woull
take at lea st t wo vln's (o coinl t-ha
$515,000,00111 uniilss'. "'ld c(inagu' 1)
FstoI)i)d. Ti, ibject of t lHs t a0
ture of the h.l'l is tii iturntish silvo
certificates it) ciriculatie as mone,
while tie hulhli is bwin'g cointod
and tliy \\ ill aiswer every pur
pose and be in1ittidiate availaibl
and will Iw .l1 amdilititi to tlogon
eral stock of cue nev ill existne
wIlicll, if' till( ( overn 111 -11t. exil0il
ditures exce'cd the riceipts as th'
Ilavo re'cellyI , will siieil he In Cir
culatioll alnting- tile ple.
Tl obj'et ill pil vidil'g for tl
cinago-( h o l(, Iallcof i4 ile hll
lion pirchas d litidi' I lilt 4hermal11
lawis i Ift'or'iii Ilw Shiermnit I'a
legal-tedohbr notos with silver coi
and1) by s( (iti!ngi Stl) th tI) withdtraw
Il of gold Etni ilh Trl"astilrY.
vi ll ellt ii i ei 'sti'jn d 1f thi
lawvs en~o'eil l I.\ 11t ('igneis, anl
t1e rlles aotird u -s i'st~\tishl,
by tll- (ee i vi (e-partellntt inl 11
('X0I'risc3 (0 its legal prorogativc
The lavs ipn p Ihis sublject. aro In
liltnerou 11S. Tim. imporltanlt coil
aIc law's aI-o ' the emrihatcod in ti
act s (f 179'. 1 87, 1873, 1878, 189
and I"'. I will not. go into d
tail as till ar114e1 n0w familiar wit
themi, 'i'- -ilver d liar, wit
Some chne inl thle aimount of a
lobtalway' containling 187 1
grainis of* plre silver', was the tun
of v'alie anid he OwStalnild lega
tonder(ji dolhi- frim 1793 to th
timo silver wa.i d monetized i
1898.
VTe ra:t iii was cltinigiud twicuo b
changing tliihe iiut of gold in
tilo stallidaatd. \l i~ i' hav sough
amid Hoilt.~i ill \:liim to finld anly i'u[
htonaloi (ex('iu or htuiilabile pu1!
p)ose; in thle nton tiiIaloi in) 187:
w hen silIvi r was p1rickenii dowv
None cant bi 0 I 4)l un od or shiowi
Thor(41o hadl hieen noi e' o m p Iia i ni
iagauinst silver byix th o popui~le. Th~I
raUtio certainly dd no ht ('oiervalui
si Ivo'r, I ectiut e i U wit ; V w<rf 111 a1 sa
pon lii iv' ltd ia.that g t'flim(
at t~hat timoi 'htim that. the bi
wa passel wi II thot a ftIumln f'r
consiidera'tioni i of' all ifs lprovisin
and~ that t hey ~ did iiot knhow tr
'it did d'min'i ze ii silIvet'; ot het
say'~ e3xatly Ili th iIppoi~t; hbut
Hoomto hi lo a li11:11 ' ite o sinal I ill
potatne'c whlef Ii'r it jiasseid lby 4ll'
noglect of duly. ha-k'l of dliscrim1
ilr;it dh pa- and~;i th le ovilI wt
i890 was stic'l an iilting.utanet
upon01 thn igh.~ts ti ? peop luilo mt
suceh a hol 1 and ( vi' hiinl mo vel
dlirec't oppolint iinn iio i wishe's
the pub~ liiiII ' gen rldl 'sm Sf h)
was.41i\ i deou \e :ii 114 eriic- ndi
Orisenita Serear of ii' h Tr'easuri bi
po ins au-tn i esi is o tioodr
vor,~ eiso I hal l e e tpt pace itmhtt i
in om iwof tuemtli he~t~ I' 1 Wbjet
( or any other ago. The consumma- i
d Lion of such a schome would ulti- a
s natoly entail more - misery upon
tho bumain race than all the wars,
postilences, and faminos than over
occurred in the history of the 0
0 world. 0
The pedigree of that act which 1)
is correctly called a crimo against it
the people is interesting, and can 1h
Y not be too often repeated. The o:
progonitor of the act demontizing s(
i ilver was the credit-strengthoning a
Y act passed in 1869, and it in turn h
was sired by the act of April 12, i
1866, which provided for the re- g
iroment of a large non-interest. t
g bearing debt which was circulating n
e aiong people in the shape of our- ii
s rency. By this law a largo portion 5
)f that legal-tondor curroneywas re- a
Y tired and burned, and intqrost- N
t .earing bonds issued in the placo t
r .)f it. This criio against tle pro
1 ductivo and commercial pursuits ti
f of the uation was the direct off- f1
I spring of the parent of the whole o:
conspiracy-tho act of February fi
3 25, 18G2, which placed the oxcep- w,
- tion clause on the back of the Trea- ti
I -ury notes, and by discrediting its ai
own patper the Government caused st
gold to go to a promium. c<
Tho evil, then, which started b
this train of class logislation cropt
I at a timo when the poople and h
die Congress had their whole at- P
tention conterod upon tho civil d
war. Two colobrated documents c
mitlining this train of logislation t
1s a conspiracy wore published t
ibout the closo of tho war; tiey 1
iro known as the Hazzard circu- d
ar anid the Buol circular; they e
havo hoon publishod in overy ro
ormi paper in the land and often u
- read 11pon1 this floor. The authen- W
ticity of both theso circulars has
be1n oftonj chatllon1ged, but it never
enn bo again. All questions as to
authit.icity is ba rre1d by the fact
tIbat tho very cotspiracy ouitlined
0 in thoso circulirs has hoon inacted
a*
into a law and 11W stiaids asi a
t matter of histor-y. 'he podigree
10th1 comnilenices with the excetp
tion clause oi tho back of tlie Tre
sury noto, which croated a miiarkot
for gold to pay ditty ( imports
bt and intorost on the public debt.
Thiscused gold to go to a pre
milim and ponlleld the way to tho
- act, Iithioriziung the salo of bonds, t
to redooi and destroy a part of the
Troasury notos. Tho (onds wore o
sold for the depreciated curroncy t
and thIut opedl(1 the way for the t
erojdi t-strengthening act nmakinug
t he bonds pauyable ini coin), which C
moant gold or sivrcoin; thni the ~
d~emnonetiztiton of sitlvor iln 1873 ~
tsiruick down halfI the coin) and (con1-t
sequien tly dole~Id the puirchiasinig t
p~ower of the blanlice, at least it 1
wold have (dello so in t ime if the L
coin ontme into genora I use ; bitt o
* h2(3indignation of the people wasS
such (that in) fivo years they seur- r
0i
'd a pairtiatl remonetization of sil1
v'or b~y the Bland-Allbson act of
I1878, and)( the pressure of the coin- C
traction among the people caused 4
t .ho( passage of the Sherman lawy ini C
.July 1890, as a compromnis be
twoetn the Bland1-Al11180n law and
i' ho free coiniago (of silver. I have
iven the progenitors of the demo
tnotization of the silver act, aund
am211 now giving its plrogony. 'The
Shermatn law was the second 801),
r woro( mtoro thanli 1half legi timIlatt;
-it is the thirdA 8o3n that is the po (If
the famiily. H~e hats already hoen
born and christened "nnimeontlitioni
211 repeal ." Hie is a littlo daling,
agins i)t thle m)0oo of the p)oopl-.
18 I'P IEXP)':JIEN't'?
The1( 'i vil war clos~ed upont a pto- ~
itt
menr ts r e d ) estoye and tiee
ning~ i ee~ itut I the' bar had itout I
'4'
bous iitSVor' (ncst. B~E'1ut1 the lmoof
1'1
monelify in) ci rculaition1 was so large '
.. t hat prices rutled h2ighi and1 it was
10 compa~trativeOly easy for a poor man
- to get at stairt,. Thie nation thien
"* commenl01ced ant era ofi prospcirity
whot a parallel in history, but
20 it was of short duration. On
eo A pril 12, 1866, a lawv went intoeof
>(3 feet as8 an amendment of the act
o (f March) 8, 1865 which authuorized
Id the Secreta.1y of the reasuiry to is
is sue and sell bonds hearing 6 per,
nterest for the money in ue
mong the people and burn the
ioney.
This was the beginning of an era
f contraction in the iolumet9f
arroncy that has been steadig
ushed from that day to thI,.an
;s path is strewn with wreolo
omes, blasted hopes, bankrupt
iterprises, mortgaged farms, de.
)rted fields, closed faotories, and
in army of tramps on the one -
and, and on the other.a few.mil.
onairos. These evile came on"
radually, because the law limited
io redemptionl for the first six
ionths, but the amount of nondi
isuod under this act was $958,489'.
50, and for every dollar so issued
dollar of legal-tender currency
as taken from circulation among
'io people and burned.
This operation extorted not less
ian five hundred million of pro.
ts from the staggering industries
i the country, and in the whole
lancial history of the civilized
orld no parallel can be found to
is audacious deed of broken faith
id treachery to the people. It
ands by itself, towering above all
minion frauds and dwarfing them
r its own vast proportions.
And yet gentlemen toll us there
as been no contraction. A com.
nrison of the prices of farm pro.
nicts at tho tino this contraction
.mnonced and now, will show
iat it takos from three to five
mnes as much to securo a dollar
ow as it did then. Why is this
omon of contraction forever hov
ring about these Halls and seek
ig to impress its blighting mark
poll Overy itomli of legislation? I
ill tell you why.
A contraction ill the volume of
IUonPy increases the purchasing
oI wer of t ho dollar, and therefore
, isa gain to those who have mo
&y loaued, both because it increa
es tho value of the principal and
ho interest, and to those who have
ixed incomens; but their gain is a
lirect loss to all who have to bor.
ow money or to pay interest, or
invo investnents in land or com
tiodities for salo, or any kind of
MuRinOSs invest ments, because they
re compollod to give more labor
nd commodities to secure money
.) moot their eugagements. There
i another class, and it is a large
n10, that is bonofited by contrac
ion, and that is the manufacturer
hat is protected by a tariff. The
nect is that the general price of all
:iinodities and of labor fall as tho
olumeo of money is contracted,
ndl there are only two oxceptionls,
wo things that do not go down as
hoe volmne of money contracts:
noe is tariff-protocted articles, and
je other is debts. They are both
vils, and the only way to get the
est of them is to expand the cur
mcy,
But now, Sir the people are be
oming aroused to a proper under
tanding of this question and the
rime of contraction must cease.
Applause.]
* * * *
Again, if the commodity price
>O lower than the coinage value,
ommodity transactions will cease
mnd all the silver be held for the
:oinage price, wich will tend to
orce the commnodity price up to a
ovol with the coinage price ot val
wo. 'This is exactly what happened
rhonj the Sherman law first passed,
mid three (lays after it wont into
tdoet silver had risen in comnmod
ty p~ri(eo to $1.21. But why did it
top~ there, and go down? For ex
etly the same' reason, that it wont
p. It went up because Wall
treet and IiLoo and public gen
rally believed that the United
states recognized anid supp'orted
he coinage value of sivor by issu
ng against the p~urchase price and
ninhing the soigniorago; but thre
lays after the law went into effect
ho public discovered that the
lre asury had found a way to do
eat the plain and evident object
,the law by holding the coin with
hlo bullion and not putting it into
the Tr'easury as tho law intended
amd the public expoeted.
* * * ft
I have shown that wvhile the pub
lic thought the silver coined un
der the Sherman law wQuld ,l~e
placed in the Treasury, a-nd there.
by be an official recognition of the
[Concluded on Second Page.]

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