The Southern Mercury. (Dallas, Tex.), Vol. 11, No. 40, Ed. 1 Thursday, October 6, 1892 Page: 1 of 16

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•Organ ,, ducat., co.Of,raf." } Official Journal of the Farmers State Alliance of Texas. { -ub.n,. e,Mtn,.-
Vol. XI, No. 40.
Whole No. 545.
Hon. T. L. Nugent, Peoples Party
Candidate for Governor,
Lays Bar a the Existing Political,
Social and Financial Evils
Speech Teeming With Evidence of the
Poverty, Oppression and Down-
trodden Condition of
Our People.
"Let us have peace, said Gen
Grant nearly two decades ago
^ The sentiment sent a thrill
sympathy through every southern
heart. It was fondly believed that
this language of the great u^ion
general, whose magnanimous treat
ment of our own Lee had given
him a warm place in the affections
of our people, would serve to mark
the beginning of a new era of peace
and fraternity between the divided
sections of our common country.
And, indeed, if the politicians could
have been quieted,this patriotic ex
pectation would long since have been
realized. Party success, however,
had become the end of party or-
ganization and endeavor, the public
J ' good a matter oí secondary im
portance, and with the decay of
the old time devotion to principles,
since those memorable words were
spoken, the demagogues have
continued periodically to swarm to
the front, filling the political woild
with partisan clamor and strife,
reviving and fanning into fresh
fury half forgotten annimosities of
the past and driving from the arena
of political action the really great
men who might now successfully
lead the old parties in the crisis
through which the country is pass-
A great thinker has said that "As
institutions grow large men grow
small." it is so. The "rule of the
ring" has been supreme in this
republic of ours for the past thirty
years and he who can manipulate
most skilfully the political machine
secures the prizes of public life, the
offices and spoils. Great men no
longer lead the old parties because
great men are men of soul, of hu
manity, of genius, of inspiration
They are never machine men. Fit
ted by nature to soar amid the
stars, they cannot sprawl in the
gutter or court companionship with
slime. Capable men are lib doubt
working the party machines for
the usual rewards, but the times do
mand great men to mould the ele
ments of reform into proper shape
and they will come as the inspira
tion finds them amid the ranks
the common folk. The farmer o:
today is a reading and thinking
man, rejoicing in a new found in
tellectual strength, of which but
lately lie did not dream. More
over, he has developed into an ora
tor as well, and, his rude and
touching eloquence flaming forth
lrom heart and brain burdened
with a sense ot injustice and wrong,
is stirring the hearts of plain people
as they were never stirred before.
Behold the leaders of the new cru-
sade against conditions that make
virtue impossible and against in
equalities ihat stamp labor with
the curse of all the ages!
Meanwhile leaders of democracy,
who have inherited from Jefferson
nothing but a few well worn for-
mularies of speech, and leaders of
republicanism to whom the hu
manity and unique greatness of
incoln have only value in firing
the hearts ot the faithful and im-
pelling them to renewed efforts for
party success, marshal their politi-
cal hosts on the two sides of the
sectional line, where every four
years they stand in solid arrav,
j glaring at each other with the old
time hate gleaming in their eyes.
This has been the unhappy politi
cal status for thirty years. The
south can always be trusted for her
votes by Wall street democracy,
>ut never for a place on the na-
tional ticket. Contributing the
:unds, Wall street has always
claimed the right to dictate the
candidates and the financial policy
of the country, and thus from Sey-
mour to Cleveland, so calledgsound
finances and the business interests
of the country have, in the selec-
tion of candidates, been matters of
chief concern to the party leaders.
Wall street must, at any cost, be
appeased. The big bankers and
money lenders, the stock jobbers,
the men who ball and bear the
market, must be kept in good
humor, must indeed be satisfied
that their special privileges are not.
to be taken from them, otherwise
campaign funds must dwindle and
party success be jeopodized.
Thus both parties have tacitly
agreed to ignore the silver issue
and leave the single gold standard
intact. What does Wall street care
for the tariff' question so long as
she controls the finances? With
even free trade, control of the
money of the country would give
her control of the prices, control
of wages, of usury, of the property
and the labor of the country. W hat
more could she have under protec-
tion? Bat parties must have issues,
and the tariff and bloody shirt
issues are, of all issues, least hurt-
ful to Wall street. Hence it is
that the old quarrel over the tariff
and the force bill is to be renewed,
while the money kings rub their
hands gleefully and watch with
delight the "sham battle" whose
"clamor" drowns the cry of dis-
tress Ihat comes from the farm, the
workshop and the factory. Labor
is in chains, while the politicians
are skurrying over the country,
repeating political platitudes, hold
ing up tariff schedules in one hand
and the "bloody shirt" in the other,
vainly erdeavoring to head eft' the
moving column ot reform as it ad-
vances to victory. It will not win.
Kansas, where the preliminary bat-
tles of the great civil war were fought
recently gave a lesson of reconcili-
ation and peace in the nomination
of an ex member of Lee's staff for
congressman at large—a nomina-
tion made by acclamation in a
peoples party convention, and sec
onded by 172 ex-union veterans.
The second gr< at lesson was given
at Omaha, when, in the greatest
convention of this convention year,
the gallant maimed ex confederate,
! ?ield, was named¡for second place
on the peoples party national
ticket. The third great lesson will
come next November, when the
noble magnanimous people of the
north and south, thrilled by the
examples of Kant as and Omaha
into forgetfulness of the war and
its animosities, shall rise to the
height of the great occasion and
call Weaver and Field to preside
over the destinies of this great re-
But why, let me ask, is Wall
street so deeply interested in any
political action touching financial
questions? The answer does not
lie very far off. At the termination
of our unfortunate civil war, there
was in actual circulation among
the people of the United States,
$1,868,409,216 of paper money in
various forms, interest bearing and
non interest bearing. Among this
currency were included the green-
backs—something over $400,000,-
000—which bore no interest and,
soon after the war, rapidly appre-
ciated in value from 46 to 71 per
cent as measured by gold value.
At this time the people of the
United States, except in the south,
where the desolations of civil war
had carried poverty into every
home, were enjoying almost unex-
ampled prosperity. The spirit of
enterprise and speculation pervad-
ed all ranks of society; money
sought investment in useful indus-
tries; labor was employed and
tramps were unknown. Secretary
McCullough, an apostle of the
"single gold standard," said; in his
report of December, 1865: "We
have about $2,000,000,000, nearly
all in circulation among tthe peo-
ple;" and again, in the same re-
port, says: ' Business is nearly all
done on a cash basis, the people
are generally out ot debt, those
who want work can get it at good
wagee, all t raLches of business are
flourishing, and the people are
prosperous and happy." The sec-
retary here describes almost an
ideal social and industrial condi-
tion, and, strange to say, refers to
that condition as affording a favor-
able opportunity to retire our
paper circulation and prepare for
the resumption of specie payments.
On December 18, 1865, the house
of representatives passed this reso-
lution in response to McCullough's
"Resolved, that this house cor-
dially fcconours in the views of the
secretar y of the treasury in relation
to the necessity of a contractionjjof
the currency, etc:" and, afterward,
on April 12, 1866, passed the act,
which, together with the act of
March S, 1865, made provision for
the withdrawal and destruction of
the paper circulation and the fund-
ing of it in interest bearing boi.ds.
Under these two acts $1,363,40#,-

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Park, Milton. The Southern Mercury. (Dallas, Tex.), Vol. 11, No. 40, Ed. 1 Thursday, October 6, 1892, newspaper, October 6, 1892; Dallas, Texas. ( accessed August 12, 2020), University of North Texas Libraries, The Portal to Texas History,; .

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