The Bessemer indicator., 1893-08-05

nation OF such scheme would ultimately cn-
tall more misery upon tho human race than
all the wArs, pestileRces and famines that
ever occurred Ia the history Of the wefid.
Ths absolute and instantaneous dsstr'tction
world, including hUuscs, shipa, railroads arf
all other appliances for carrying on cUri-
mercc while Il would he felt mbtc sensiblt
1t the moment, would hot produce anything
like the prolonged distress and dlsorgahiza-
tion Of society that must inevitably result
from the permanent annihilation Of one half
Of the metallic monex Of the world;" and
Whereas, Senator John Sherman, Of Ohio,
who, more than any othet mau Is responsible
fot the demonstration of silver, cleaily un-
derstood the evil consequences of shrnkage
vi currency below the legitimate demands OF
the business OF the country, us evidenced bv
what he said In the senate In 1869, to-wit:
.sThe contraction of the currency Is q far
more distressing operation than senators sup
pose. Our own and other nations have gone
through tba, operation before. It is, not pos
eible TO take that voyage without the sorcst
dlstress To every person except capitalist
out OF debt, OF salared officer, or nnnultaIt
1t Is d period ~ loss, danget, lassitudt cf
trade, fall OF wages, suspension of enterprise
bankruptcy and disaster. II means the rtiln
of all dealers whose debts are twice thcir
business capital, though onc-third less thrn
their scttai property. 1t means the fall Of
all agriculture al productions Without any
great reduction OF taxes. What prudent man
would dare to build house, railroad.
factory or a barn with this certain fact be.
fore him,n
Therefore, in view of all these facts, we
declare,
/. That there must be no compromise cf
this question; all legislation demoneiizing
silver and restricting tho coinage thereof
must be Immediately and completely repealed
by an act restoring the coinage OF the conn-
try TO the conditions established by the found
efs OF the nation. and which ccntlnricd for
over 81 years without complaint ftom any
part OF our people. Every hours delay In
uhdoirg the corrupt work Of Ernest Seyd and
BUR foreign enemies "a mt insult 10 the dignity
OF the American people. crushing burden
10 their property, and an attempt to place us
again under the yoke from which George
Washington and his compatriots rescued us.
We protest against the financial policy of the
United States being made dependent upon
the opflbns or policies OF any foreign gov
ernmcnt, and assert the power of this nation
10 stand on It's own feet and legislatc for IT.
self upon all subjects.
.. We assert that the only remedy for our
metallic financial troubles Is to open the
mlnts OF the nation to gold and silver on equal
terms, at the old ratio of l6 ounces of silver
TO one of gold Whenever silver bullion can
be exchanged at the mints of the United
States for legal tender silver dollars worth
lNu cents ttcU, that .iDOHrnt 4lZ'a Rrn1tls Oh
statd:.rl sisor Will lie wo.th 100 cents, and
as commerce cquailzes the prices of nil com
moditles throughout the world whenever 4l2i
grains of standard silver are worth 100 cents
in the United States they will be worth that
sum everywhere else and cannot be bought
for less. While It will be urged that such
result would enhance the price OF silver bull
lion II is sufficient for us TO know that sim
liar Increase would be Immediately made ia
the piee q every form OF property except
gold aid credits in the civilized world. 1t
would be shallow sclishncss that would
deny that 10 the mining industries at the cost
OF bankruptcy to the whole people. Tho
legislation To demonetizc silver has given
unjust increase TO the value of gold to the
cost and prosperity Of mankind. Wheat and
all other agricultural ptcduota have fallen
side by side with silver.
3. That while the SHERMAN act OF July
II, 1890, was device of the enemy 10 pre-
vent the restoration of free coinage, and Is
grcntly Objectionable because 1t continues
the practical exclusion of silver from the
mints and reduces IT from money metal To
a commercial commodity, nevertheless as its
repeal, without the restoration Of free coin
age would stop the expansion of our currency
required by growth In population and bust
ness and widen farther the difference between
the two precious metals, thus making the re-
turn to hl.mctalllsm more difficult; greatly
lntteaso the purchasing power Of gold, still
further break down the price of the products
Of the farmer and the lnborer, the mechanic
and the tradesman, and plunge still
further all commerce. business and industry
iuto such depths of wretchedncss as to en-
danger peace, order, the preservation Of free
institutions, and the very maintenance of civil
lization, we, therefore, In the name Of the re-
public prd Of humanity, protest against the
repeal of the said act uf July a. 1880. except
by an act restoring free hi-metallic coinage,
as it existed prior TO 1873. We suggest that
the maintenance of bi-metallism by the
United States at the ratio of 10 to will In
crease our commerce with NIL the silver-using
countries of the world. containing two-thirds
Of the world, without decreasing our com
mcrcs with those nations which buy our raw
materlnls md Will compel the adoption OF bi-
metallism by the nations of Europe than any
other means.
I. We assert that the unparalleled calami-
Tics which now aiflic' the American people
are not due to the so-calicd Sherman net of
1880, and in proof thereof we call attention
to the fact that the same evil conditions now
prevail over all the gold standard world. We
arc convinced that bad IL the state OF affairs
Is in this country, II would have been still
worse but for the Sherman act, by which the
nation has obtained to some extent an expand
ing circulation to meet the demands OF n con-
ilnent in process OF colonization, and the
busiilcss e>igepcIcs OF the most energetic and
Industrious race that has ever dwclt on the
earth, and We insist upon the execution OF the
law without evasion long as II is upon the
statute books, and upon the purchase of the
full amount of silver each month that 1t pro-
vides for. to the end that the monthly addi-
tiou to the circulating medium the law Sc
cures shall be maintained.
g. That We would call the attention OF the
people to the fact that in the midst OF all the
troubles of the time the value of national
bonds and National legal tender money
whether made OF gold, silver or paper has not
fallen n particle. The distrust is not in the
government or its money. but of the banks.
which we believe preclpitated the present
panic on the country In an ill-advised effort
to control the action Of Congress on the silver
question and to Issue bonds
We invite the bankers TO attend to their
Legitimate business and permit the rest of the
people to have their full share In the control
much sooner restore that confidence which ia
SO necessary to the prosperity of the people.
Il must not be forgotten that while boards of
trade, chambers Of commerce, bankers and
money dealers are worthy and valuable men in
their places, the republic can more safely re-
pose upon the great mass Of ia peaceful toll
crs and producers; and that tliis ''business
mans age" Is rapidly extermnating the busi-
ness men OF this country. The time has come
when the politics of the nation should revert
as far MS possible To the simple and pure con-
ditons out Of which the republic arose. We
suggest for the consideration of our fellow
citizens that the refusal OF the opponents of
bimeiallism 10 propose any substitute for the
present law or to elaborate any plan for the
future indicates either an Ignorance OF orr
financial needs or an unwillingncss to take
the public into their confidence, and we de-
nouncc the attempt 10 uncondltlonally repeal
tho Sherman law AS an attempt to secure gold
monometalism In fragrant violation OF tho
last national platform of oil the political