People's Pilot, Volume 4, Number 11, Rensselaer, Jasper County, 31 August 1894 — What Is Needed. [ARTICLE]

What Is Needed.

In his Fourth of July speech at New York Senator Walsh, of Georgia, said: The south “favors the remonetization of silver. Business'needs a larger volume of currency. With the immense growth of the country, it is believed that this government has the power to establish a financial system independent of Europe, and the ability to maintain the free coinage of silver and gold and preserve both at a parity. The contraction of the currency by the demonetization of silver appreciates the purchasing power of gold, depreciates the value of agricultural products and reduces the wages of labor. The gold standard places the debtor at the mercy of the creditor, and paralyzes, to a certain extent, the business of the country. As the United States are independent politically of European nations, so should they be financially. The south believes that the federal government should restore the free silver and gold coinage of the constitution, which it maintained until 1873 <*t a ratio first of 15, then of 16 to 1, and that it should do this with or without international agreement.”