The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-06-12

ing of the same dangerous class said:
''All prOpertp is at their mercy"
The fact is, the purse outrivals the
sword in levying and collecting tri-
butte on conquered people hundred
to one.
The purse has conquered the United
States. 1t has captured our public
highways, and in the language OF Mr..
Garfield in 1874:
"The modern barons, more powerful
than their medieval prototypes, levy
tribute at will on all our vast indus
tries"
Senator Window, in his official re.
port to Congress in 1874, said:
In the matter Of taxation, there
are today four men representing the
four great trunk lines between Chica-
go and New York who possess, and
who not unfrequently exercise, powers
which the Congress of the United
States would not venture to exert
They may, at any time, and for any
reason satisfactory to themselves, by
single stroke Of the pen, reduce the
value Of property in this country by
hundreds OF millions of dollars."-
Vol. l, page 158.
Through the power Of the purse, the
London money lords and their agents
and attorneys in the United States,
are now parceling out our lands and
our wealth among themselves. Nc
people have ever paid such large tri-
butte on water and other forms OF
fraud as we. None have more willing.
ly paid their millions into the Golfers
Of foreign money lords than the
American people are paying at the
present time. Neither William OF
Normandy, Pizarro of Peru, nor Cor
tez of Mexico. ever met such willing
dupes, nor ever garnered such bounti-
full harvest with so little risk and ef-
fort. Here is the Eldorado of the
bandits. And our foreign and domes-
tic taskmasters are the most
naughty, aggressive and cruel known
in history.
Both the old political parties have
fallen from their primitive purity and
are Laughing at the calamities of the
people. They are joined to theil
idols, and can not act in disobedience
to the gods they worship. The only
hope of the nation is new party OF
the people, capable Of comprehending
the modern economic questions now
demanding attention and solution.
The people must awake. To sleep is
to die! National death in America is
the death of popular liberty the world
over.
As to remedies: In the first place
we must restore silver to it's old place
as one Of the constitutional metals, and
thus donble the money Of ultimate
payment on all coin bonds and obliga-
tions. We must coin it freely at the
old ratio of 16 to l, SO that the new
coins like the old will be lawful money
for all payments. 1t will then be the
money of the contract, as expressed
in the United States statutes, and
plainly printed on the face of all
United States bonds. Any deviation
Of weight or tineness OF the new coins
will enable the creditors to repudiate
them. United States bonds are pay.
able Sin coin of the standard weight
of July IA, 1870" The free coinage OF
silver Of that weight and fineness will
double our means of payment on all
coin obligations, and be great relief
to the people. Silver coins, like gold
should be lawful money on all coin
obligations, as they were when the
obligations were incurred, though the
said obligations may be held in for.
eign countries. And they should be
the money of ultimate payments on
all currency in the United States
which by law is redeemable in coin.
For home use we should restore in
the form of greenbacks, all was ted
destroyed and retired currencies
which have been in circulation at pal
since 1878. The law of May 81, 1873
was intended to maintain the volume
of greenbacks then existing. 1t di
rects that the volume Of United
States notes shall not thereafter be
retired or reduced, but, when received
into the treasury, "they shall be re
issued and paid out again and kept il
circulation"
The spirit Of that law has not been
obeyed. BY loss, waste and wear, that
volume of greenbacks has been re
duced. 1t is mild and conservative
estimate to say that fifty millions O.
greenbacks have thus been retired
since May, 1878. It is just and Lawful
that the volume of greenbacks thus
reduced shall be restored and main
tanned by new issue of $4,000, 900
This is no imitation. It is merely al
act to prevent contraction. Neither
is it an act of imitation to replac,
with new greenbacks the bank cur
rency which has been retired since
1880. 1t will require $3.50, 900, 600 to dt
this. 1t is merely replacing the cur
rency which the banks by their act.
acknowledged to be necessary to pros
perity when the population of tht
country was much less than at pres
ent. Then, finally, it is no imitation
of the currency to increase and main
tain it's volume as the population O
the country increases, This is merel,
an act to prevent "comparative con
traction, as described and condemned
by president Grant in his message O
December. 1873.
The restoration of the currency will
require an immediate issue of 5000,
OOC,0 of new greenbacks, and it's ever
and equitable maintenance will re
quire at least $1OO,OOO,00 annually
hereafter. Such policy will restore
prices and bring prompt and lasting
relief to the people. The money now
idle in the banks now waiting till tn.
present falling prices shall reach bot
tom will seek investment and entel
into active circulation. Enforced
idleness of labor will cease. Ever
man and woman will be sought ou
and employed at good wages, and tn,
present unrest of the country viii
exist only in history. This reasonable
and just restoration of lost and re
tired currency in the form of lega
tender money is the first present re.
lief within our reach. I repeat tina
the contraction of the mony and fall
ing prices is the principal cause of GU
present distresses. All other cause
are collateral and cumulative. Relic
therefore must come through expan
sion of money and rising prices. Blu
the money must be lawful money