The advocate., 1890-01-09
The Farmers Alliance and In.
dustrial Union.


REPORT OF THE COMMITTEE ON THEMoNE-
TARY SYSTEM AT THE ST. LOUIS MEET
ING. ............. ......
The financial policy Of the general Gov
ernment seems to-day TO be peculiarly
adapted TO further the interests Of the
specializing class, at the expense and to
the manifest detEiment Of the productive
class, and while there are many forms of
relief offered, there has up to the present
time been no true remedy presented
which has secured support universal
enough TO render its adoption probable.
Neitherof the political parties offer rem
edy adequate to our necessities, and the
two parties that have been In power since
the war have pursued practically the
same financial policy. The situation Is
this, The most desirable and necessary
reform is one that will adjust the financial
system Of the general Government 50 that
its provisions cannot be utilized by class
which thereby becomes privileged and Is
in consequence contrary to the genius OF
our Government, and which is to-day the
principal cause Of The depressed condl.
ton Of agriculture, Regardless of all
this the political parties utterly ignore
these great evils and refuse TO remove
their cause, and the lmReFtunitles Of the
privileged class hayeno doubt often led
the executive and Legislative branches
of the Government to believe that the
masses were passive and reconciled to the
existenc Of this system whereby priH-
legged class can, by means Of the power OF
money to oppress, exact from labor all
thut 1t produces except bare subsissance,
Since then 1t Is themost necessary ofall
reforms, and receives no attention from
any OF the prominent political parties, II
is highly appropriate and important that
our efforts be concentrated to secure the
needed reform in this direction, provided
all can agree upon such measures. Such
action will in no wise connect this move
ment TO any PARTISAN effort, as it can be
applied to the party TO which each mem-
Der belongs,
In seeking true and practical remedy
for the evils that now flow from the inn
perfeCtions in our financial system let us
first consider what is the greatest evil
the one that outatrips all others 30 far
that it is instantly recognized as the chief
and known with certainty 10 be more op,
pessive to the productive interests Of the
country than any other influence, is that
which delegates toa certain class the
power to fix the price Of all kinds Of pro.
duce and Of all commodities, This
power is not delegated directly, but It is
delegated indirectly by allowing such
class to issue large percent of themoney
used as the circulating medium of the
country, and havingthe balance Of such
circulating medium, which is issued by
the Government, fixed quantity that i
not augmentedto to correspond with the
necessities of the times, In consequence
ofthis the money issued by the privileged
class, which they are 1T liberty 70 With
draw at pleasure, can be, and is, 50 ma.
hipulated asto control the volume Of cir
gulatIng medinm'in the edunAEy aufitlr
eptly toproduee iluctVatpps ip general
prices at their pleasure. II may be. liken-
ca UAt6 a simple llItiBtiHtlOhl IN 9phil0so'
phyaE EheinaeyIhle yqlq@AQf ItAe Sew