The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-08-09

OF the business of the country, al
evidenced by what he said in the
senate in 1869, to-wit: "The contrac
tlon OF the currency is far more dis
tressing operation than senators sup
pose. Our own and other nations
have gone through that operation
before. 1t is not possible to take
that voyage without sorest distress
10 every person, except capitalist
out OF debt, a salaried officer, or an
nuitant, it is period of loss, danger
lassltude of trade, fall of wages, sus-
pension of enterprise, bankruptcy
and disaster. 1t means the ruin OF
all dealers whose debts are twice
their business capital, though one
third less than their actual property
1t means the fall of all agricultural
productions without any great reduc.
tion of taxes. What prudent man
would dare to build a house, rail
road, a factory or a barn with this
certain fact before him?"
NO COMPROMISE.
Therefore, in view of these facts,
we declare:
First-That there must be no
compromise of this question. All
legislation demonetizing silver and
restricting the coinage thereof must
be Immediately and completely re-
pealed by an act restoring the coin
age of the country to the conditions
established by the founders of the
nation, and which continued for over
eighty years without complaint from
any part of our people. Every hours
delay in undoing the corrupt work OF
! ! Ernest Seyd and our foreign enemies
is an insult to the dignity of the
American people, crushing burden
on their prosperity, and an attempt
to place us again under the yoke
from which George Washington and
his compatriots rescued us. We pro-
test against the financial policy of
the United States being made de-
pendent upon the opinions and poll
cies of any foreign government, and
assert the power of this nation to
stand on it's own feet and legislate
for itself upon all subjects.
Second-We assert that the only
remedy for our metallic financial
troubles is to open the mints Of the
nation to gold and silver on equal
terms, at the old ratio of sixteen of
silver to one of gold. Whenever sill
yer bullion can be exchanged at the
mints of the United States for legal
tender silver dollars worth 100 cents
each, that moment 4123 grains of
standard silver will be worth 100
cents; and, as commerce equalizes
the prices of all commodities
throughout the world, whenever 412}
grains of standard silver will be
worth 100 cents in the United States
they will be worth that sum every
where else, and cannot be bought for
less. While it will be urged that
such things should enhance the price
of silver bullion, it is sufficient for
us to know that similar increase
would be Immediately made in the
price of every form of property ex-
cept gold and credits in the civilized
world. It would be shallow selfish
ness that would deny the mining in
a share in the prosperity of the peo-
pie. The legislation to demonetize
silver has given an unjust increase
to the value of gold at the cost OF
the prosperity of mankind; wheat
and all other agricultural products
have fallen side by side with silver
Third-While the fisherman act''
of July IA, 1890, was a device of the
enemy to prevent the restoration OF
free coinage, and is greatly objec-
tionable because it continues the
practical exclusion Of silver from
the mints, and reduces it from a
money metal to commercial COM
modify, nevertheless, as it's repeal
without the restoration of free coin
age, would stop the expansion of our
currency required by our growth in
population and business, widen still
further the distance between two
precious metals, thus making the
return to bimetallism more difficult;
greatly increase the purchasing pow
er Of gold, still further break down
the price of the products of the
farmer and the laborer, the mechan-
ic aid the tradesman, and still fur
ther depress commerce, business,
etc., into such depths of wretched-
ness as to endanger peace, order, the
preservation of free Institutions and
the very maintenance of civilization:
we therefore, in the name Of the re-
public and of humanity, protest
against the repeal of the said act OF
July "A, 1890, except by an act restor-