Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1886-06-09

erent parts of the country at all times
and in every part at various times;
whereas, being the measure of COM
mercial value, it should be fixed and
unvariable in value. For example:
At this time in one part of the coun-
try money is worth only two per
cent interest per annum in another
twelve per cent, and in another TWEEN
ty per cent, and ranges from two to
twenty per cent. throughout the coun
try That the uncertainty in the
value of money causes distrust and
uncertainty in all commercial trans
actions, inasmuch that capital is tim
id and labor unemployed and period
ical panics occur in all business, in
consequence of which the industrial
classes are financially ruined and the
laborers thrown out of employment
and want and suffering brought upon
the masses of the people and unjust
gains are acquired by those who
manipulate the money. That a sup
ply of portion of the money
of the country is in the con-
troll of private corporations called
National Banking Associations, crea-
lures Of Congressional legislation,
with whom private gain is the only
motive for supplying money to the
people. That it is through the man
ipulations of said corporations and
other money lenders't that the people
suffer many of the misfortunes and
grievances hereinbefore mentioned
and many others not mentioned. That
the right to issue or coin money is a
high sovereign prerogatlve which
ought not to be exercised by any but
the highest power in a nation, and
we view with alarm the exercise of
such prerogative by private persons
or corporations, and as q remedy for
the evils of which we complain and
for redress of the grievances we suff
er as herein set forth.
We pray that your honorable body
will fulfil the duty imposed upon you
by the Constitution in sections s of
article l, which provides: "Shall have
the power to issue money and regu-
late the value thereof, and of foreign
coin, and fix the standard of weights
and measurs; that you fix the meas
ure of value by establishing just,
uniform and unvariable rate for mon
ey loaned: that in order to maintain
such rate of interest as the normal
rate you repeal all laws authorizing
private persons or corporations to
issue money, and in their stead es-
tablish public loan offices throughout
the tcountry wherever needed, at
least one in every county, with prop
er officers to perform the duties of
said offices. That the National Gov
ernment lend money to the people
at said offices on good and sufficient
security and at said fixed rate of in
terest, on demand, and that the prof
its arising from the business of lend
ing said money be carried into the
public treasury for public uses, and
that said loan offices be also made
repositories for the savings OF the
people, and your petitioners will ev-
er pray.
Resolred, That the General Master
Workman shall certify duplicate cop
les OF the foregoing petition to Con-
gress, and that he is requested to Sc
lect the most suitable member of
Congress and United States Senator
available and request that they pre-
sent the said petition to their respec-
tive branches of Congress.
Representative Low, of Pennsylva-
mia, then introduced bill for recon
mendation to Congress, entitled ::
IAN act fixing the measure of value
and further regulating the value of
money" The bill provided for the
corrections of the abuses set forth in
document No. II and provided for
the loaning of money by the Govern
ment at three per cent per annum.
The bill contained sixteen long sec
tions. After the adoption of the
above report the Committee on the
State of the Order read its report
and the General Assembly took re-
cess for dinner