Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-07-23
THE NEW PEOPLES PARTY.
Address Issued to the Country by the n
tional Executive Committee

Address Issued to the Country by the Na-
tional Executive Committee.
The address Of the national executive COM
mittee Of the peoples party has been sent out
by Secretary Schilling.
1t starts out with the information that times
which try mems souls are here once more The
descendants Of British tories OF l776 and other
European and American capitalists have bound
the country in chains. The Declaration of In
dependence from British arrogance needs to
be supplemented by declaration of independ-
ence from the powers Of concentrated wealth;
the political independence gained by the revo-
luton is but shallow sham unless our coun-
try can secure industrial independence. The
address enlarges on the subtle power of money
to oppress the poor, and then declares the
railroads of the country are capitalized at
$1,000 COO 600 and the great majority of their
stock is held by people in England and other
foreign countries who have more interest
| in the United States than the vampire in its
| victim. At a reasonable estimate. foreign
capitalists have invested $40, 900 600 OCO 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 shipload, and mined here, not in
Europe. To secure this valuable property
| these foreigners have merely loaned us their
| credit, in bank checks. drafts and notes, and
| they are paving these with the dividend they
! draw from our people. Comparing the foreign
| capital invested here with the total wealth of
the country the address declares that reckoned
| at compound interest the former will reach the
| amount represented by the latter in less than
twelve years.
The statement is made that the Western
Union Telegraph Company is capitalized at
$50, DOC. 600 and makes 5 per cent. but that its
plant could be duplicated with SIS. 900 600
oh npin hat tha onfn ia Of inr.r
per cent. and that the same applies to numerous
other corporations. thus making q source Of
great national danger.
The policy Of the government in paying high
premiums for so many years to take up bonds
not due so as to dispose Of the accumulations
of the treasury is denounced as idiotic and
reference is made to the protested inability Of
| the Treasury Department to redeem the ESQ.,
0O0. 900 Of per cents about to fall due. The
| address makes the remarkable statement that
the treasury contains $50. 000. 900 Of money
but that the bankers who control the depart
ment fear that the release Of $50, 900. 600 of
ready money would break down the money
market and ease the grip that unproductive
capital has upon the people Of the country.
The burden OF debt resting upon the people
as shown by farm mortgage statistics, is dis
cussed and the following remedy proposed:
eff the billion dollars of banking corpora-
| ton paper, mortgages and other paper evil
! dences Of debt issued by individuals are good
enough for the extortiOners and the usurers.
paper notes issued by all the people jointly, in
| the form Of government notes, are better"
| The address then goes into details over the
debts Of the country, and refutes the charge
| that it would be improper for the government
to loan money to individuals. 1t calls for the
control of telegraph lines by the people. the
same rs the postal system, and says that the
people party does not propose to stop at the
reform proposed and its platform, as it is q
progressive organization and cannot stand still.
An earnest appeal to the people to join the
| organization closes the address.