The herald., 1894-08-17
THE INDUSTRIAL DEPRESSION.
M0nometallism at the Root of
the Evil.
The Remedy Is the RemOnetization
of Silver.
President FIske OF the Pan-Amerioan
Bimetsilist League Issuss
Somewhat Remarkable
Manifesto.

| by the AbsOclhteu Etcsss
WASHINGTON, Aug. 16.-President A.
O. Fisk of the Pan-American Bimetallic
league, on behalf of that organization,
has sent notable statement to the
special committee OF the United States
senate investigating the industrial de-
preston and the remedy. He says:
'Oae or two more panics will find this
country in the condition of Rome and
other extinct republics, when they went
down. There was no necessity what
ever for issuing government bonds, and
every one issued, whatever the purpose
may have been, resulted in the robbing
of the people to the full extent OF the
issue. Why should we be taxed from
$50. 600, 900 to $3.50, ,O00,0 year for 80
years on bonds, in order to maintain a
banking system which was conceived in
sin, born in iniquity, nurtured in con-
epiraoy and ripened into treason? Why
should we be compelled to use de-.
monetized bank bills and demonetized
treasury notes, even when the govern
ment has the power to issue full legal
tender money? With an honest Issue OF
money, the people could not be plumb
cred billion or more dollars each year,
and there would be no occasion to pay
those who conepired to MAKE this nation
| the depository OF their surplus money
and pay them $4,000, 900 or $4,000, 900 q
year for taking care of their imaginary
| gold reserve.
"The bonding of nation and the
issue Of demonetized currency are re-
cent inventions, but many nations have
OF late years fallen prey to this new de.
vice. They must in consequence repu-
dlats them or return to barbarian.
The creditors who are confiscating
the property of the nation cry 'infla.
ton when the oppressed debtor asks
for honest money with the free coinage
OF silver and the remonetizing of paper
money. Initiation, indeed, with 25 cent
wheat. 5 cent cotton, cent beef, and 80
cents for days labor! Our money will
be STABLE when the American farmer,
planter and laborer are reduced to the
condition of the people OF India and the
serfs Of other countries under the fnan-
eial dominsr a Of England.
sit is cir ,iy to be hoped congress
is in earnest in its efforts to ascertain
the cause of the present disturbed con-
dition, and is ready and willing to apply
the proper measures for relief, and that
no further attempts will be made to de.
ceive the people by distracting their at.
tention from the real Issues, as has been
done by the discussions of the bloody
shirt, the seal question, the force bill,
the Chinese question, the Canadian rail.
ways and canals, the tariff and the
prescription against one religious de-
nomination known as the A. P. A. move
ment; but that laws shall be enacted
-. r., kan hi, - ~ 80 al ho
people instead of very few.
at would seem that congress has
already legislated in the interests OF the
creditor class far beyond the boundaries
of safety, and should take warning lest
the people, who are fast bscoming
aroused to the real cause of the diff
Guilty, may take matters into their own
hands and elect both a congress and
chief executive who will be their serv-
ant-not their master.
"With that day will come prosperity,
through the introduction into our
statutes of justice to all classes, which
may be partially and briefly sum married.
as follows: The monetization of silver
at the ratio Of 151s to l; all money be
issued by the government direct; all
demonetized money to be called in and
full tender money issued in lieu thereof;
One money for the bondholder, creditor,
debtor, oficeholder, importer and
banker; the establishment OF postal
savings banks; the adoption Of the in
itiative and referendum.
This would prove fatal to the political
evil-the lobbyist. Bribery would be an
unsafe investment, whom the people, in
stead of a corrupt legislative body, had
the decisive ballot.
"Tbe power to coin money and regu-
late the value thereof shall be taken
from congress by constitutional amend
ment. History has demonstrated that
it is unsafe to entrust legislative body
with the power to pauperizs and enslave
the people. In like manner the power
to enact tariff legislation should be taken
from congress and commission ap-
pointed, free from all influences, to draft
revenue laws, which, when finally
adopted (by the voice of the people).
could only be modified, changed or re.
pealed in given period of time, and
then only BY direct vote of the people.
thus allowing the business interests of
the country to adjust themselves to its
provisions.
.'The Nicaragua canal shall be con-
structed and paid for by government
money, not by bonds"
A number of radical measures are
suggested. President Fske says the
views submitted express the sentiment
OF 165, 900 members OF the association.