The advocate., 1894-02-14

reason for the issue Of bonds, for the alleged
danger point was passed when the reserve fell
below SlO0OO0OOO. 10 Is not to obtain money
to defrsy current expenses, because in the
treasury vaults Is large amount of silver
bullion on which the seigniorage alone, If
coined, would amount to more than the $5O,.
O0O,O0O II is simply case OF more bonds
more interest bearing debt Amy new issue OF
bonds will be gold bonds. This will pave the
way for declaration that all bonds now out
standing will be paid in gold, and then the
chain Of conspiracies will be almost complete.
The next In order will be to gather in the
wealth Of the people, as 1t win be impossible
to pay interest and principle In gold. A per-
petual bonded gold debt is the object sought.
Industrial bondage, infinitely worse than chat
tel slavery, must be the inevitable result.
I thought it my duty to encourage Grand
Master Workman Sovereign, of the Knights of
Labor, in his efforts to prevent eny further is
sue, and hope the supreme council win indorse
that action. have no hope that any protest
Of ours will avail to avert the issue OF more
bonds, for there never was more determined,
obstinate, merciless autocrat on a despot's
throne than he who now rules with an iron
hand at Washington; and there never was q
more plant, servile body Of alleged represent
atiVes OF the people than those now assembled
to do his will. We can and should enter our
solemn protest against the crime to he com.
mitted. We should emblazon on our banners
mo more bonds .tOreUer," and wage an unceasing
warfare on every man who will record his vote
for more bonds, and bury under an avalanche
OF votes any political party favoring such a
proposition.
THAT ONE PLANK IDEA.
We have had much advice of late looking TO-
wards reducing the number Of our demands tc
one. l am utterly opposed to the elimination
of single demand. To make contest on the
one plank OF "free coinage Of silver" would be
entirely too narrow for a progressive organ
ization. Our blmetalllc friends are very per
sistent In their claim that free coinage Of sill
YER Is the paramount issue. They think oul
other demands are lmpractlcable or ofvery lit
tie consequence. II that be true, then the i'm
practicable ones viii fall of their own weight
and those Of littl5 consequence can do but lit
tie harm. venture the assertion that few o
bh0Lu OF0A FubPN AOA u pOAlOAChA parry WuOS'
platform did not contain one or more plankl
which they thought "impracticable or Of little
consequence" II they are not willing to be al
considerate with us who are earnestly fghtinE
for what they deem the paramount issue al
they have been with those who have beer
fighting against 1t, then we have come to "tht
parting Of the ways" that is,we win keep right
on; they must do the parting.
We can accomplish our objects in Other
ways. We look upon free coinage as but one
step In advance. The first fort to capture, as Il
were. They think 1t Is strongly intrenched
In front 1t IS, but we believe that In our sub
treasury plan we cleared the way for fanl
movement that will enable us to capture tht
citadel without that outpost
We cannot afford to risk all on silver. tt
stop there, so far as we are concerned, woulC
result in a continuing contraction Of currency
AT present the secretary Of the treasury claim
per capita circulation OF about S25 OF cours
we know this showing is badly padded, but le
that pass. Limit our money to gold and silve
and 1t Is only question of time when tn
worlds competition for 1t will compel
worlds division Of 1t.
The population OF the nations using Pold an,
silver now being about 1,250,OOO,OOO, and tn
worlds gold and silver being about $7,O0O,OOO
900, the per capita volume would be less thai
S., or less than one-fourth OF our present pc
capita.
We favor free coinage Of silver for three rea
sons: First, for the purpose of increasing tn
volume Of money in circulation; this can b
accomplished with legal tender money quit
as well. Second, to increase the price of silve
bullion for coinage purposes in those silve
standard countries which compete with us II
the markets Of the world; the same purpos
can be accomplished by increasing the vOlum
Of money here (based on land and the non
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