The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1894-01-24
Mimi tlle PeonIe Gan Do.

lean people can bring a pressure 10
bear upon Congress that will in a
short time give the country finan
cial relief.
aIn every city and town bimetal-
lie leagues should be organized. and
these leagues should flood Congress
with petitions demanding the
reconciliation of silver. Our rep
resentatives yield readily to public
opinion. They yielded after the
campaign of 1878 and granted the
partial restoration of silver in
response to thousands of petitions
demanding. it. What the people
did in 1873 they can do this year,
if they will organize and make
themselves heard by their Con-
gressmen.
nThe reconciliation of silver is
absolutely necessary to restore our
former prosperity. Mr.. Gosehen
described the situation correctly at
the monetary conference of 1873
when he said: States refuse to
employ silver because of the de-
preston, and the depression con-
tinues because States refuse to en-
ploy it. We are in vicious cir
cle.' After this conference silver
was discarded by many States and
gold appreciated to such an extent
that Rothschild said at the confer
ence of 1892: 'If the conference
adjourns without arriving at any
definite conclusion, there will be a
depreciation in the value of silver
out of which a monetary panic will
ensue which it will be fearful to
contemplate. The conference
broke up without any definite result.
"Let us see what has occurred
since that time. a writer in the
Chicago Times says:
"'Sfnce then India has closed her
minis against the free coinage of
silver with view to adopting the
gold standard, and Japan is con-
templating similar action. This
country has contemptuously thrown
silver aside, and all commercial
nations are engaged in a mad strug-
gle for gold, the annual output of
which is quite or nearly absorbed
by the arts In the meantime the
purchasing power of gold is con-
tinually rising, and the price of
silver was never so low as now in
the history of that metal. The
prices of our great staples, wheat
and cotton, as their surplus is sold
in the English market, are deter
mined by their gold price in Eng
land, and there manifestly can be
no permanent rise in these prices
so long as the purchasing power of
gold increases or even remains
: stationary. And in sympathy with
them the prices of the products of
all our agricultural industries, the
main support of our trade and COM
merce, are continually falling.
Suspended industries are add
ing daily to the vast army of the
unemployed who are subsistiDg
upon charity, which can at most
afford only temporary relief
Shrinking industries are depriving
railroads of their customary earn
ings, and already over 81 900 miles
of these roads are in the hands of
receivers preparatory to their re-
adjustments and Reorganization
upon diminished capital, to be
many times repeated while we are
on our downward course to a gold
standard, which can be reached
only by contraction of our circuIa-
ting medium, and when all the com
mercial nations shall reach that
condition, as the weight of debts and
taxes grow with the appreciation of
money, the property of the world
will not be sufficient to pay the
worlds Indebtedness. 1t will then
all belong to the creditor classes
and owners of money, after they
have received many times over
their principal and interest, as COM
pared with the labor expended in
placing upon the market the pro-
ducts of industry with which these
payments are made
"Until we place silver in COMPETE
ton with gold as a money metal,
we may expect to see the golden
boa constructor tightening it's coils
and squeezing the life out of our
industries. Under the gold stand
ard the price of our cotton and
other staples will continue to be
fixed in England
"There is no hope for an admins
tration whose financial advisor is
John Sherman, but the people can
eliminate this evil genius and cause
the Democratic majority in Con-
gress to carry out the bimetallic
plank of the Chicago platform.
They can do 10 by organizing BIZ
metallic leagues in every city, town,
village and hamlet and loading the
mails with petitions to their Con-
gressmen urging them to redeem