Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1886-06-01
OF LABOR.

ACTION BY THE GENERAL
ASSEMBLY IN SESSION AT CLEVELAND.
Cleveland, Ohio June 1.-The knights
OF labor convention opened at eight
o'clock this morning, the first business
being the adoption of the amended re-
port OF the committee on strikes and
boycotts. The executive board must APP
prove all future strikes and, except in
certain grevlous cases, where immediate
action is necessary, a strikej or boycott
ia not to be allowed without their APP
proval.
An address to the Women's Christian
Temperance union was adopted, aftor
which the committee of legislation pre-.
scented a report recommending that a
petition DO sent TO congress asking it to
fix a measure of rslne ard regulate the
value of money. Adopted.
The petition says:
Your petitioners are mostly citizens
of the United States and members of
the lAboring class of society.
That while human labor produces all
wealth, those who perform no honest
labor have amassed most of the wealth,
and those who have performed labor
have the least to enjoy.
That we feel this state of things to be
largely due to visionary legislation and
lack OF proper Regulation by congress.
That the money of the United States
is of value differing widely in
different parts of the country;
whereas being a measure OF
commercial value, it should be fixed and
u~nvariable in value. For example, at
this time, in n part of the country,
money is worth only two per cent
interest per annum In another twelve
per e In another twenty per cent.
1t ranges from two to twenty per cent.
throughout the country.
That differences in the value of money
cause distrust and uncertainty in all
transactions.
That capital is timid and labor unena-
ployad and depression occurs in all BUSH
ness. the consequences of which to the
industrial classes are financial ruin and
laborers are thrown out OF employment
and Undesirable want and suffering
come upon the masses of the people,
and unjust gains are acquired by those
who manipulate the money market.
That the supply of a large portion of
the money of the county is in the control
of private corporations called national
bank associations, creatures of con-
gressional legislation, with whom private
gain is the only motive for supplying
money to the people. That it ie
through the manipufationB OF said
corporations, and the money lenders, that
tbs people suffer many misfortunes
and. grievance hereinbefore mentioned
and others not mentioned. The right
to issue or coin money is q high SOY ereign
prerogative which ought not to be
exercised by any but the highest power
in the nation, and we view with alarm
the enjoyment of such prerogative by
private persons or corporations,
and As a remedy for the evils
OF which we complain and for the re-
dress Of the grievances we suffer, as
herein set forth, We pray that your hon.
orsbls body will fulfill the duty imposed
on you by the constitution, section eight
of article one Of which provides that
congress shall have the power to coin
money and regulate the value thereof,
and of foreign coin to fix the standard of
weight and measure
That you fix the measure of value by
establishing q Just and uniform and
unvariable rate of interest for money
loaned.
That in order to maintain such rate OF
interest at the normal rate ysu repeal
all laws authorizing private persons or
corporations to issue money, and in their
stead establish public loan Offices
throughout the country, wherever
needed, at least one in every county,
With proper officers to perform the
duties of ssid Offices.
That the national government lend
money to the people at said
offices on good and sui
icient security and at said fixed
rate of interest on demand, and that the
profits arising from the business of lend
ing money 5s covered into the public
treasury for public uses, and said loan
Offices be also made repositories for the
savings of the people.
Representative Law, of Pennsylvania,
then introduced a bill for recommends
ton to congress. emitting ian act fixing
the value of money" The bill provides
for the corrections of the abuses set
forth il, the document and provides for
the ioapipR Of money by the government
at three per cent per anpupl. The bill
contains sixteen long sections.
After the adoption of the above report !
fha cf,m n,ittea I'm fha atafa M tho order