The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1891-07-23
SCHILLING'S APPEAL
His Statements on Behalf Of the
Peoples Party.
THE INRoADs OF FOREIGN CAPITAL

The Secretary Asserts That the Sum
Invested by Aliens Will Reach an
Amount Equal to the Total Wealth
of the Country In Less Than O
Dozen Years.
MILWAUKEE, July 23.-The address Of
the national executive committee of the
Peoples party has been sent out by
Secretary Schllling. 1t starts out with
the information that times which bry
mems souls are here once more. The
descendants of British Tories of I'VE
and other European and American cap.
italists have bound the country in
chains. The declaration Of independence
from British arrogance needs to be sup.
plemented by a declaration of inhe.
pendence from the powers of concen.
trated wealth. the political indenpeNd.
enfe gained by the revolution is but
shallow sham unless our country can
secure industrial Independence. The
address enlarges on the subtle power OF
money to oppress the poor and then de-
clares that the railroads of the country
are capitalized at 50, ,0O0, ,000,0 900 and the
great majority Of their stock is held by
people in England and other foreign
countries, who have no more interest in
the United States than the vampire has
in its victim.
Foreign Capital Invested.
AT reasonable estimate foreign cap
italists have invested $4,000, ,000, 900 in
our country. What value have they
given us in return? They did not give
us gold or silver, because these metals
have been carried abroad by the ship
load and are mined here, not in Europe
To secure this valuable property these
foreigners have merely loaned us their
credit i'll bank checks, drafts and notes,
and they are paying these with the divi-
dends they draw from our people. Com
pairing the foreign capital invested hdre
with the total wealth of the country
the address declares that rechoned at
compound interest the former will
reach the amount represented by the
latter in less than twelve years.
The statement is made that the West
ern Union Telegraph company is oapi-
talized at soc, ,000, 600, and makes Ier
cent, but that its plant could be duli
Gated with $i5,000,000, showing that
LILO dItudi Adto oA iluci iCSe 10 Nv pel CGlAt'i
and that the same applies to numerous
other corporations, thus making a source
Of great national danger.
Tho Burdened People.
The address makes the remarkable
statement that the treasury contains
$750,oo0,O00 of money, but that the
bankers who control the department
fear that the release of $50, 900, 900 OF
ready money would break down the
money market and lose the grip that
unproductiye capital has upon the peo-
pie of the country. The burden of debt
resting upon the people, as shown by
farm mortgage statistics, is discussed
and the following remedy proposed: II
the billions of dollars of bank and cbr.
poration paper, mortgages and otlAer
paper evidences of debt issued by n
dividuals are good enough for the ex-
tortioners and the usurers, paper notes
issued by all the people jointly, i'll the
form of government notes, are better"
The address then goes into details
over the debts of the country and re-
flutes the charge that it would be i'm.
proper for the government to lend
money to individuals. 1t calls for the
control of telegraph lines by the people,
the same AS the postal system, and says
that the Peoples party does not propose
to stop at the reforms proposed, as tits
o progressive organization and cannot
stand still. An earnest appeal to the
people to join the organization closes
the address.