The Southern Mercury. (Dallas, Tex.), Vol. 15, No. 31, Ed. 1 Thursday, July 30, 1896 Page: 4 of 16
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SOUTHERN MEBCUBY.
JULY 30, 1893.
ONE DOLLAR A YEAR.
—PUBLISHER WEEKLY BY-
SOUTHERN MERCURY PUB. CO.
MILTON/ PARK,
MANAGING EDITOVt AND GENL MGR.
TEXAS POPULIST STATE PAPEE
AND
Jfflci&l Journal Farmers' State Alliance of Texas
Entered at the Dallas, Texas, post office as
mail matter of the second class.
Jfflce, 196 Main St., Opposite Trust Building.
The Mercury will, in a few days,
get out a special edition, containing
Major Kearby's great speech at
Greenville and other reform cam-
paign literature. We will be able
to fill all orders promptly at 50 cents
per dozen* or $3.50 per 100.
Now let the procession move!
Goodbye, Tom Patterson, goodbye!
Taubeneck's philosophy wouldn't
work. __
The Buzzards' bay fisherman is si-
lent.
Texas saved the peoples party at
St. Louis.
The people can still trust the peo-
ples party.
Endorse nothing but honesty and
political truth.
Boss Hanna should stop labor riots
in'h 8 Ohio home.
The Texas delegates at St. Lous
were wide awake.
Truth is mighty, and does not ad-
mit of a compromise.
If reform ever meant anything, it
means the same now.
Texas populistst draw the line on
the democratic party.
The peoples party was the victim
of Taubeneck's philosophy.
The populists of the south do not
endorse redeemable money.
That lone, faithful star guided the
way to the savior of the people.
Better be right than president, and
better be honest than victorious.
The ' 'basis" is about gone. Sell
more bonds and buy another basis.
Delays are dangerous The peoples
party will hereafter understand this
fact.
The Texas members of the peoples
party national committee are Harry
Tracy, H. S. Bentley and S. C. Gran-
bury.
Any party that would endorse the
democratic gang of Texas, would en-
dorse falsehood before truth, and dis-
honesty in preference to honesty.
Senator Teller has declared in fa-
vor of Bryan, and joined the demo-
cratic party. Senator Teller did not
make or loose much by this trade.
What a sight of trouble would have
been avoided had the peoples party
convention been called before the old
party conventions. The mistake was
almost a fatal one. The lesson will
~ be a valuable one, and hereafter the
peoples party should head the proces-
sion. A reform party has no reason
for awaiting the action of other par-
ties.
The reformers of the country .can-
not be convinced that there' is any
good, present or prospective, in the
democratic party. Its record is so in-
famous that honest men turn from it
with loathing.
8ENAT0R ALLEN'S CRAWFISH.
During Senator Allen's speech as
permanent presiding officer of the
peoples party convention at St. Louis,
a Texas delegate called his attention
to assertions made by him in a speech
in congress, in which he declared for
a redeemable money.
Mr. Allen finally declar ?d, after a
discussion of some length, that he
favored a "limited volume of paper
currency of full legal tender, redeem-
able in nothing but the revenues of
the government."
In a speech in the United States
senate, Mr. Allen advocated the free
coinage of gold and silver into re-
deemable money. Now it is in order
for the Nebraska senator to say when
he was jokin'." Was it in the senate
or as chairman of the national con-
vention?
WANT SOME PARITY, TOO.
While the goldbugs have been talk-
ing about maintaining the parity of
gold and silver, the parity of grain
and products generally has gone wild.
If the parity of the two money
metals is a good thing for the money
grabbers, the parity of wheat, corn
and hogs with gold is also a matter
of vital interest to the farmer.
A few years ago a bushel of wheat
was on a parity with $2, but now
wheat is so badly off its parity that a
bushel is only worth one-fourth of that
amount' and slow sale at that.
Corn a few years ago was on a par-
ity with gold, and sold for $1 per
bushel. Cotton was on a parity at 20
cents per pound, but these products
have now lost their parity, and corn
sells for 15 cents per bushel and cot-
ton at 5 cents per pound.
The farmers and producers are
waking up to the lack of parity that
is now existing between money and
their products. They propose to doc-
tor up this diseased condition of par
ity a little, and thereby receive what
is due them. If there is such a press-
ing need for a parity between the
metallic money, there is also a cry
ing demand for a commercial parity.
In fact, less money parity and more
parity of products with the money of
the country would prove a greater
blessing to humanity than can come
from the preservation of a money
parity at the expense of a ru ined in-
dustrial condition.
AN OBJECT LESSON.
treasury, then a bond sale is neces-
sary, but if they please to assist the
treasury over the gulf, then the bond
issue can be deferred for a time.
Thus the treasury is at the mercy of
these gold gamblers. They have re-
cently drawn out the gold in order to
demonstrate to the government its
dependence upon them. They want
to force the recognition of the fact
that they not only have the power to
destroy the financial credit of the
government, but that they have the
power to restore. Thus, Wall street
is on top and the gevernment under
the Cleveland gold standard policy,
is at the mercy of the money
gang.
The gold shipments have increased
recently, and the gold reserve is be-
low $90,000,000. This is called the
danger point, and a bond issue has
heretofore been the only remedy for
it. Now, however, there is an elec
tion pending, and the bankers and
money grabbers fear the influence of
a bond sale at this time. These bank
ers have combined and offered the
government sufficient gold to tide
the treasury over the campaign pe
riod.
There is a valuable object lesson in
this action. It illustrates as forcible
as could be desired the control and
influence the money combines have
over the money of the country. If
this money combine should refuse to
come to the relief of the national
THE BATTLE WITH THE MONEY POWER.
There is no doubt but that the
present uprising against the cormo-
rants who have been for years gradu-
ally absorbing the substance of the
people and seizing the reins of gov-
ernment in order to fasten their
clutches on the industries of the
country, is mainly a result of the
campaign of education prosecuted by
the peoples party.
Some are disposed to call it an up-
rising, spontaneous in its nature, but
such is not the fact. There has been
a thinking going on for years, and
the present revolt is the result of
deep-seated convictions. The masses
have been very slow to act. The raid
of the gold oligarchy should have
been met by the people of the United
States at the very threshold. It
should have been challenged before
it succeeded in getting the hold upon
the country it now has. It will re-
quire a fight of no mean proportions
to now loosen the grip of the money
power. The masses should be warned
of this, and be ready to ward off the
blows of their piratical adversary.
Such a death-like grip has the mon-
ey power now on this country that it
can and will engulf the country in a
panic and financial disaster before it
will surrender. The people should be
prepared for a financial crash, as the
money power can bring on a panic in
twenty-four hours if it sees the neces-
sity of doing so to secure an advant-
age. Financial distress will be brought
on and the cause will be attributed to
the free silver uprising. It will be
called lack of confidence, when it will
be overt robbery and piracy by the
money power.
It is well for the people to be on
their guard. Fore-warned is fore-
assured. As sure as the money power
sees it is to be foiled in its purpose, a
financial panic will result. Notice
should be served on these gold grab-
bers that summary vengeance awaits
them if an attempt is made to panic
the country. If a few of the money
pirates were hung on a sour apple
tree there would be no panic and no
lack of public confidence or decline
in our national credit. All these dis-
turbances are made to order. They
do not come up out of conditions half
as often as they are made by the com-
bined money influence.- The masses
can deter this money gang if plain
words are used and a determined
stand taken. They money gamblers
are cowards, and are the easiest men
in the world to scare if the right
methods are used. There is a fight of
no mean magnitude ahead of the peo
pie of this country, and they must
prepare themselves to wage a deter
mined and aggressive war againt the
I money power,
WELL DONE, GOOD AID FAITHFUL SER-
VATO!
The Texas delegation to the St.
Louis convention deserve the wel-
come of well done, good and faithful
servants. Never did a state delega-
tion to a national convention stand
truer to the people who sent them
than did the Texas delegates to the
national convention.
From the first day of the conven-
tion to the close did the 103 Texans
stand up for the principles of popu-
lism and nobly defend the honor of
the party. Not for a moment did
Texas waver or halt between two
opinions. They only had one opinion
and that was to carry out the will of
the people who sent them, and like a
wall of fire they swept back every as-
sault upon the Texas line.
Texas populists should be proud of
this delegation of noblemen. An hon-
est man is said to be the noblest work
of God, and a politician who can be
trusted to faithfully and honorably
carry out the will of his people is a
noble work of creation indeed. To
the Texas delegation can be attribut-
ed whatever determined battle that
was made in that convention for
principle, To the Texas delegation
falls the honor of placing Hon. Thos.
E. Watson on the ticket. Had the
Texas delegation not been in that
convention the whole democratic
ticket, with the national banker,
railroad magnate and general pluto-
crat, Sewall, together with Mr. Bry-
an, would have been endorsed. The
Texas delegation to St. Louis was an
honor to the state. The Lone Star
delegates covered themselves with
glory. Well done, good and faithful
servants.
WERE THEY REDEEMABLE 7
____ #
The following inquiry comes ask-
ing an answer:
'Mt. Pleasant, Tex., July 20.—I
take the position that the first $50,-
000,000 issued by Lincoln's congress
was not redeemable in coin until
after it was made so by statutory
law. My democratio friends say it
was at its issue. Am I right? Give
me your opinion and the evidence if
you can, that I may use in the cam-
paign. B. F. Holcomb."
At the extra session of congress
which began July 4, 1861, a bill was
passed authorizing the secretary of
the treasury to issue treasury notes
to the amount of $57,000,000, payable
on demand, bearing no interest, and
to issue treasury notes as he might
deem advisable to bear interest at
the rate of 7 3-10 per cent, payable
three years after date. These notes
appear to be the first notes provided
for by congress after the election of
Mr. Lincoln. What these notes were
payable in is not stated in the records
referred to, being "national loans of
the United States," but it is natural
to suppose that they redeemable in
coin.
The first legal tender notes were
issued under an act presented in the
house Jan. 22, 1862. These notes had
printed on their back the following:
The within note is a legal tender in
payment of all debts, public and pri-
vate, and is exchangeable for bonds
of the United States, bearing 6 per
cent interest." These first legal ten-
der notes were not redeemable, but
were exchangeable for government
bonds. This is as near an answer to
Mr. Holcomb's question as the data
at hand wW enable us to give,
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Park, Milton. The Southern Mercury. (Dallas, Tex.), Vol. 15, No. 31, Ed. 1 Thursday, July 30, 1896, newspaper, July 30, 1896; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth185670/m1/4/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .