The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-10-10

70 one of gold and for the 20 years since
1873. it has not exceeded 16 to l.
Eieventh-That the free coinage of sill
yer does not mean any sudden imitation and
sudden disturbance of values. This is so,
because 1t is an utter impossibility to pro-
ouce the precious metals faster than they
can be absorbed for money purposes. The
increase in populat ton of the world during
the last % years has been 200, 600 900.
Twelfth-That
THIS GOLD STANDARD
was imposed and continues to be imposed
upon the people of the United States by
England. In speaking of this, Senator
Cameron, of Pennsylvania, said: yet the
bankers of London have said that We must
submit, and we have submitted"
Thirteenth-That there never has in the
world been such thing as interna tional
money ana In all probability never will be-
Fourteenth-That there is not single OBJ
legation of the United States government
other than gold certificates that is not by
the explicit terms of the contract, payable
IN either gold or silver and we demand of
the servants of the people that they adj
minister the laws according to the terms of
that contract. Who can say this is not
right?
Fifteenth-That gold alone does not afford
sufficient basis upon which our paper
currency can safely rest.
SiXteenth-The advocates of the single
gold standard claim that only gold can
make an honest dollar. According to them
then, as we have shown that gold has con-
tinually appreciated in value for 20 years,
a dollar is only honest when it is increa g
ing in purchasing power.
Seventeenth-Again. the gold advocates
say that one dollar must BE- as good as an
othef, but they do not define what good
ness means. Is not a just dollar a good
ooiiar! Is not dollar of unchanging value
good dollar? Has the gold dollar been I'M
changing in value? In 1873 before silver
was demon etized. this same gold dollar was
worth ) per cent less that the silver dol
lar; that same silver dollar will purchase
Just as much of every other commodity now
as 1t would prior to 1873.
Eighteenth-Free coinage is not an ax
pertinent, but so far as the single gold
standard has gone it has been a most dis
aStrouS one.
Nineteenth-With a dollar approaching in
value as it is now doing thereby causing \
decrease in the price of all products
TAXPAYERS ARE COMPELLED
to give more labor or the products of more
labor to obtain these dollars, the only thing
with which they can discharge all state.
county and municipal taxes, all of which are
hxed charges. Therefore, to decrease the
price of products is to increase taxes
Twentieth-Continued falling markets
must annihilate profits, without which all
industry must be paralyZed; causes money
to accumulate in money centers, where it
is principally used by those who gamble in
securities. instead of bsing used in produc-
tive enterprises. 1.-The gold supply of the
world has been substantially cornered. See
Baron Rothschild's spescf. at the late mon
etary conference at Brussels
Twenty-frst-H bushes men could only
be assured that prices had once touched
bottom, and that even as low as they are
now, they would remain steady and stable
in the future. then 1t might be possible for
them to conduct their business upon. a sta
BILE footing for after a general readiust-
ment matters would go on as usual This.
though, can only be done upon condition
that prices have reached their lowest level
and can be counted upon to remain steady
in the future. If the conditions though
remain as they are, not only ask yourselves
when the decline will stop, but now, if mon
ey keeps thus approaching in value, is it
possible for it to stop?
If this policy is not changed. We do not
for one moment hesitate to absolutely af-
firm that no matter whether we have high
tariff or low tariff or no tariff, there can
be no permanent revival in business affairs
Stocks of all kinds are now so low that we
may expect some commercial Improvement,
but that it can last for any length of time,
If the present monetary conditions are
maintained is an absolute impossibility