Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1891-07-23
THE PEOPLES PARTY
First Address from the Ma
tional Committee.
THE COUNTRY BOUND IN CHAINS
British Capitalists Sucking the Blood
of the Poor.

Blow at the Western Union Telegraph
Company-RamarkabIe Story About the
United States Trsasury-DetaiIs About
the Country's Debts-An Appeal to the
People to Join the Party.
MILWAUKEE,, Wis, July 23.-The ad-
dress of the National Executive Commit
tee 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 1776 and other European and American
capitalists have bound the country in
chains. The declaration Of indeQendence
from British arrogance needs to be sup
plemerted by declaration of independ-
ence from the powers of concentrated
wealth; the political independence 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 Cypress the poor, and
then declares the railroads of the country
are capitalized at SO, 900, 000,O 900 and the
great majority of their stock is held by
people in England and other forei gn
countries,s who have no more interest in
| in its victim.
The statement is made that the West
ern Union Telegraph Company is cap
italized at 800, 600, 900, and makes 5 per
cent; but that it's plant could be dupli-
Gated with $15, 200, 900, showing that the
actual rate of interest is 80 per cent,
and that the same applies to numerous
other corporations, thus making a
source of great national danger.
| Tho policv of tho in y
ing high premiumB for SO many years to
| take up bonds not due so as to dispose
| of the accumulation of the treasury is
| denounced as idiotic, and reference Is
made to the professed inability of the
Treasury Department to redeem the $50,
100000 Of per cents about to fall due.
$3.50. ZOO. 900 in the Treasury.
| The address makes the remarka BILE
statement that the Treasury contains
$3.50, 600, 900 Of money, but that the
bankers who control the department fear
that the release of $50,000,000 of ready
money would break down the money
market and ease the grip that unpro-
ductive capital has upon the people of
the country. The burden of debt restin 6
on the people, as shown by farm mort
gage statistics, is discussed, and the fol
lowing remedy proposed: eff the bill
lions of dollars Of bank and corporation
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 govern
ment notes, are better"
Debts of the Country.
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 as the postal sys
tenn, and says that the Peoples Party
does not propose to stop at the reform
proposed in it's platform, as it is a pro
gressive organization and cannot stand
still.
An earnest appeal to the people to joir
the organization closes the address.