Daily Yellowstone journal., 1891-07-25
THE PEOPLES PARTY
National Executive Committee
ofthe Peoples Party Appeals
to the Nation.
Political Questions of the Day
Discussed-Some Remarkable
Statements.
People. Party Platform.

AeoNAe hlAN
MILWAUKEE, Wis, July 23.-The
address Of the national executive COM
mittee of the peoples party haa been
sent out by Secretary SchilliDg. IL
ataris out With the information that |
the tines which try mems souls are
here once more. The defendants Of
British Tories Of I776 and other Euro
pea n and American capitalists have |
bound the country in cha.ns. The
Declaration Of Independence from
British arrogance needs to be supple
mented by q declaration of iLdepen-
dence from the powers Of concentrated
wealth; the political independence
gained by the Revolution is but
sham unless our country can secure
Industrial Independence. The address
enlaTges on the subject Of the power Of
money to oppress the people, and then
declares that the railroads of the couu-
try are capitalized at 50, ,OOO, 900 900, 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 HIS VICTIM.
At res sOnable estimate foreign cap
italists have invested SIC, 200, 900, 900 in
our country. What value have they
given US In return? They did not gi se
gold OF silver, because these metals
have been csrritd abroad by the ship
load. and are mined here, not in
Europe. To secure the vast properties
these foreigners merely loaned US their
credit In bank checks, drafts and
notes, and they are paying these with
the dividends they draw from Orr
people.
Comparing the fJrelgn capital iu-
vested here with the total wealth Of
the country, the address declares that
reckOned at compound interest the
former will reach the smount repre-
senied by the latter In less than twelve
years. The statement Is made that the
Western Union Telegraph Company
Is capitalized at 800, ,OOO. 900 and makes
per cent, but that its plant could be
duplicated for SIS, ,COO,OO, showing that
the annual rate Of
INTEREST Is 80 PER CENT,
And that the same applI,s to other
corporations, thus making q source OF
great national dsnger. The policy OF
the government In paying high pre-
miums for years to take up bonds not
due 80 a. to dispose Of the accumula-
tions In the treasury Is denounced ~
idiotic, and reference made to the pro
fessed inability Of the treasury depart
! ment TO redeem the $50. .OOO, 900 Of 4 pei
. cents about 70 fall due.
The address makes the remarkable
statement that the treasury rstAini
/ over $3.50. .OO0. 900 OF money, but thai
the bankers who control the depart
ment fear that the release Of $50, ,O00. 90
Of ready money would break down th'
money market. and esse the grip tina
unproductive capital has upon tn
people Of the country. The burden o
cebt resting on the people, as shoel
by fArm mortgage statistics, is dis
cussed, and the following remedy pro
posed:
eft the billions Of dollars Of banl
and corporation paper, mortgages an
othef evidence Of debt issued by indi
viduals are good enough for the extOE
tioneTs and asureFs, paper notes issue
by all the people Jointly in the form {
government notes, are better"
The address then goes into detail
concerning the debts Of the countr
and refutes the charge that is would b
improper for the government 20 loa
money 10 individuals. It calls for th
control q telegraph linel by the pei
pie the same as the postal system. an
says that the peoples party does {;
propose to stop Al the reforms propose
In its platform, a. it i a progressiS
orgaization and cannot stand still.
An earnest appeal 70 the people
join the organization closes the az