The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1893-12-07
A GREAT CONSPIRACY.
SHALL THE oLlaARcHY RULEq
The Populists In Congress Issue an Ad-
dress to the People of the United
states, Putting the Para
mount Question Clearly
Before Them.

The address is signed by Senators PETER,
Jones Of Nevada, Stewart, Kyle and Allen,
and by Representatives Davis, Baker, Been,
Bell of Colorado, Harris, Hudson KEN, Nc
Keighan, Pence and Simpson. The following
is the text of the address,
To the People Of the United States.
The conflict OF the money powers, battling
for gold oligarchy, and the masses, strug-
ling for constitutional liberty, is momentous
| and irrepressible War and enterprise antici-
pated future production for the preservation
of our government and the development of
our resources.
The worlds accumulations of gold and sill
yer formed the basis of the money volume
available to pay time contracts. The aggre-
gate debts of the world exceed $780, 900 DOC, 900.
Less than $500, 000, 900 of gold and silver con-
stituted the ultimate payment OF debts.
These enormous obligations might have been
discharged without the destruction OF indus
tries If the available coin for the final pay
ment, with its annual increase from the
mines, had remained undimnished
! The arts require an amount of gold nearly
II not quite equal to the entire present output
of the mines, and, with silver demonetized,
there can be no appreciable increase In the
worlds stock of coin, while business and pop
ulation constantly require more money.
| large part of the gold coin In the world
Is now boarded In anticipation Of war and the
rest is controlled by the banks In the money
centers Of Europe and America. General
| prices are fixed by the amount of money In
| circulation. The decrease In the volume In
| approximating these gold standards during
| the last twenty years has reduced the prices
| of property and the products of labor fully
so per cent. The control of gold by the
| banks enables them to regulate the volume of
| money based on gold and expand or contract
~ a. ala x-ttN xf Oh 1orl
| money to gold alone means the continuous
contraction of the volume of money. The
struggle for gold Is shaking the foundation
OF every financial system In the world. The
increased demand for gold since silver was
demonetized has alreany enhanced the value
of gold from l to SO per cent.
| The increase of population and business
will continue to augment the demand, but the
| supply must remain stationary or decline.
Rude nature mas never yielded an excessive
supply Of either gold or silver when both are
| used. There was never too much for use as
money. The repeal of the purchasing clause
| OF the Sherman act destroys silver MS money
of ultimate redemption and reduces that
metal to credit money to float only by redemp-
ton in gold The sl,1OOOO0,0OO of paper
and silver now In circulation must rest upon
| less than 500, 100000 in gold In the treasury
| available for redemption. The only reason
for demonetizing silver was to enhance the
value of gold and obligations payable In
money. 1t is further proposed to sell bonds
OF the United States and buy gold to strength
en- the reserve In the treasury.
National banks will use the bonds for bank
Ing purposes and issue their notes upon which
| the people must pay interest as well as on the
bonds. The banks Will continue to usurp the
| power OF the government to Issue money, to-
gether with the power to expand and con-
tract the volume of circulation to aid the
| 81
property.
The mint laws were codifed in 1878, and
the silver dollar omitted In that codihcation
without attracting the attention Of either
house of Congress, and without the knowl-
edge of the people, When the people learned
two years later that silver had been demone-
tized, they demanded its restoration. In 1878,
| a free coinage bill passed the House of Rep
| resentatives by more than a two-thlrds major
| ity. 1t was amended In the Senate by max
| ing 1t tine duty of the secretary OF the treas
ury to purchase no less than $4,000, 600 to
"a, 200, 900 worth of bullion every month to be
coined into standard dollars. The bill was
vetoed, but 1t became law, notwithstanding
the veto, by two-thirds majority In both
| houses Of Congress.
| The people continued to demand the coin
| age of silver upon the same terms and condi-
| tions which apply to the coinage Of gold. In
| 1880 comprainise was extorted from q hos
| tile executive providing for the purchase at
the market price, Of 900, 900 ounces of silver
bullion per month, to be paid for with legal
| tender treasury notes redeemable In coin
The law requires the secretary TO coin as
much Of the bullion SO purchased las may be
necessary to provide for the redemption Of
| the treasury notes herein provided for.n The
secretary construed the word 'coln' to mean
gold coin. He surrendered the option to pay
in silver to the exporters of gold without con-
sderation and then proclaimed that the
Sherman act was driving gold out Of the
country. The governments OF France and
Germany had the same option and refused to
pay out gold for export, but required the ex-
porters OF gold to accept silver Both France
and Germany exercised the option for the
benefit of their governments. Their credit
was maintained by obeying the laws. Our
credit was embarrassed by violating the law.
For twenty years all political parties have
condemned the great wrong Of 1873, which
demonetized silver and promised when in
power to restore bimetallism. In 1892 the
Democratic party came into power on the
solemn pledge to use and coin both gold and
silver without discrimination against either
metal.
On every vote taken In either house of Con
gress, and they were frequently taken,
majority Of the Democratic members In botf
houses have voted for free and unlimited
coinage OF silver. On the LIST Of July, 1892
after the presidential candidates were nomi
mated and their platforms promulgated, tn,
Senate passed u free coinage bill by an almas
: unanimous vote of the Democratic members
The platform and this vote In connection
with all their previous votes, committed tn
Democratic party, before the election, to tn
, free and unlimited coinage of silver and con
/ tributed greatly to the success Of the party II
, the election.
The sherman act had furnished the countr
about Sl50, 900 Of legal tender money an
r contributed largely TO general prosperity, Blu
: 1t interfered with the full establishment O
;. the gold standard and the appreciation o
gold coin. 1t was the only law that obstruci
ed the final consummation OF the origina
: conspiracy TO get rid OF one-half Of th
: worlds metallic money
The spectators and the London and Ne'
: York bankers knew from experience ths
a nothing short OF financial panic woul
D stampede Congress. The bankers refuse
the business community ordinary accommods
. tions; the secretary of the treasury cut o
the supply of new money furnished by tn
: Sherman act by refusing to purchase silver Q
that act required. Gladstones administr,
ton, expecting that our government woul
:, stop buying silver, law or no law, suspende
" the coinage of silver In India and the PAM
became general.
d The President issued call for an exit
| session Of Congress, in which he attribute
!. the panic which he himself had aided |
create to the Sherman act. When Congress
l. met the House OF Representatives was stan
peded like flock of sheep. The power I
money and patronage converted an allepc