Democratic Sentinel, Volume 18, Number 36, Rensselaer, Jasper County, 21 September 1894 — WORK OF DEMOCRACY [ARTICLE+ILLUSTRATION]

WORK OF DEMOCRACY

CAMPAIGN IN THE SOUTH OPENED AT ATLANTA. Speaker CrUp and Secretary Smith Fire the First Gan Into the Hanks of the Hnemy—Georgians Entreated to Beware of Populist Doctrines. Crisp Is for Bilver. The Democratic campaign in the South was opened in Atlanta, Ga., by Charles F. Crisp, Speaker of the House of Representatives, and Hoke Smith, Secretary of the Interior. There was an immense crowd at the meeting and much enthusiasm prevailed. Messrs. Crisp and Smith made speeches, which were freauently applauded and listened to intently. The principal features of the speeches were Mr. Crisp’s declaration that he was a believer in free silver and Mr. Smith’s attacks on Populists and Populism and the lt>to-l ratio in the coinage of silver. In the course of his talk Mr. Crisp said: “When the Lllld Congress met In August of last year It was confronted with difficulties which seemed almost Insurmountable. Irade was paralyzed, manufacturing had almost ceased, labor was Idle, our banking institutions were falling and confidence, life and soul of commerce, was utterly destroyed. In so far as this deplor-

able condition was attributable to legislation. the Republican party was responsible. For more than thirty years that party had made our financial and economic laws. Until the meeting of the 1.1 lid Congress the Democracy was without power. The condition which confronted us, while not wholly, was very largely due to evil legislation. In 1873 the free coinage of silver had been dls continued and gold became the standard of value; In 1878 partial coinage was resumed. In 1890 this law was repealed and soon thereafter coinage of sliver practically ceased. These acts of the Republican party resulted In so lessening the volume, of money of final redemption as to decrease the price of all commodities. Increase the burden of ail debtors and Impair the confidence of the people In the power of the Government and of banking institutions to redeem their outstanding obligations. “For thirty years the Republicans had been building up tariff walls around the country, and In 1890 passed what they termed a ‘perfect protective tariff law. ’ A protective tariff restricts trade and commerce: It limits the market In which we must buy and depresses the market in which we must sell. It Is a tax upon a foreign product which the consumer here must pay. By taxing tls foreign competitor you enable the domestic manufacturer to Increase the price of his wares to the extent of the tax, and this, too, the consumer here must pay. Then you buy foreign goods and pay tho duty; It goes Into the treasury and Is called a ‘tax;.’ when you buy the domestic product and pay tho increased price it goes Into the pocket of the American manufacturer and Is called •protection. ’ “What has the Democratic Congress so far done for the people? The first matter considered was the financial question. What should or could be done on the silver question? We bad pledged ourselves against the makeshift Sherman law and In favor of both gold and silver as the standard money of the country. By an agreement arrived at between Democrats we determined to take the sense of the House on tho free and unlimited coinage of silver, at several ratios. After full debate a separate vote was had on each, and on the repeal of the purchasing clause of the Sherman act. The result you know. “While not professing to understand the question fully in all Its bearings, I have always been In favor of the free coinage of silver. lam In favor of it now. I believe the fears of our friends who oppose It are largely imaginary, and I believe the enactment of such a law would afford great relief to the people of the country. “With our great struggle for tariff reform you are familiar. Thirty years of class legislation has built up In this country large trusts, large monopolies and largo combinations of capital. All these interestswere arrayed against us. Under these conditions our progress was slow. The IJouse framed and passed a tariff bill. This went to the Senate. After a long and tedious struggle the Senate passed this bill, with amendments. Finally the question vras presented In such a fashion that we must either accept the Senate amendments or have no bill, thus permitting the odious McKinley law to remain upon the statute booka When we were convinced such was the true situation we did not hesitate a moment; we accepted the Senate amendments, and so the bill became a law. This bill Is not all we hoped for. It contains provisions we deplore, provisions which the House by separate bill immediately repealed, and yet, taken as a whole, it goes further in the direction of relief to a tax-ridden people than any bill that has been considered in any Congress since the war.”

Secretary Smith’s Address. Secretary Smilh in opening his remarks reviewed the financial troubles of the past eighteen months, and congratulated the South, as well as Georgia, upon the excellent showing made. The attention of the commercial world had been attracted, and he predicted for that sect.ion a period of development and marked prosperity such as never before experienced. The cotton States and International Exposition would prove of great assistance in this work. But tho attention of capital once secured, Its confidence must also be won, and It was therefore of the utmost importance to the future welfare of the

state that in the coming election the people of Georgia should show the world that the wild theories of the Populists had no foothold among them. Calling attention to the recent experience of the great 'states of Kansas and Colorado under I’opuiistlc rule, the Secretary asked who would wish to see Georgia follow

the leadership of a Leweliing or a AVaite. Bad as was the record of the third party in the West, the crazy theories of their leaders in Congress were enough to stagger comprehension and shock thoughtful men. They sought disbursements amounting in the aggregate to over $25,000,000.000. The people of Georgia could not afford to indorso such a party. Tho Stale would to disorganized locally and discredited before the world If it appeared to have ever listened to their Impracticable theories. Fow, of thdir beliofs were worthy of discussion, but there was one which seemed to have appeared attractive, although when carefully investigated It must be classified with their other theories as almost equally wild and impracticable. He reforred to the free and unlimited coinage of silver at the ratio of 10 to 1 by the United States alone, and declared it to be a plan utterly at variance with sound business principles and fraught with lbcalcuable ovlL He did net wish his position misunderstood. He was a thorough bimetallist, strong In his faith, and no one could

be more unalterably opposed to the adoption of a single gold standard. Bucb a course would bring about a contraction of the currency calculated to cripple the industries and lessen the demand for sunplies. The injury Inflicted by a single-standard currency bad been recently demonstrated abroad, and the evil effects had been felt here upon products of this country raised for foreign consumption. 3e believed these evil effects wonld be lessened by preserving the present per capita of currency here; but where three-fourths of our great cotton product goes abroad, three-fourths of the Injury could not be reached except by tbe success of bimetallism In the places of consumption. Currency In the United States has not been contracted, but, on the contrary, the per capita to-day was $24 19 as against an average of $14.85 from 1850 to 1860. The Secretary then described the eight different kinds of money now used in this country and maintained that the Instant any one of these went to a premium It would become a commodity for private sale and contraction would follow, hut by preserving them upon an equality and by an Increase equal to the growth of business and population contraction would be prevented. This could be accomplished, first, by changing the bullion la a silver dollar so as to require 100 cents’ worth of silver In every dollar; second, by International agreement, which. If secured, would prevent the necessity of changing the ratio, or, third, by calling in all money of small denominations, say $lO and less, not consisting of silver, and giving silver the right qf way. He especially urged tbe repeal of the 10 per cent, tax on State banks as a remedy within control of the United States. Mr. Smith closed hts speech with an appeal to the voters of the State to remain true to the Dsmocratlc principle of sound money inaugurated by Jefferson, supported by Jackson, and preserved by Cleveland.

SPEAKER CRISP.

SECRETARY SMITH.