The Louisiana populist., 1895-04-19
THE GOLD STANDARD.
CLASS LAWS PLACE CAPITAL
SUPERIOR TO LABOR.
All DETERMINATIONS are Against the Pro-
ducsr-Legislation All in Favor of the
Creditor Class-Some of the Demands :
of tite Peopi-'s Party.

tional, municipal, corporate and 9th
er like bonds of the world-no in
Guiding private indebtedness-at not
less than $40, 100000. The an
nual interest on this sum at per
cent is, on an average. $1,000, 900. 900
which nust be paid from the products
OF labor. The payment OF this vast
sum becomes more oppressive from
the fact that the most of these obli-
cations are held in countries where
gold is either the only legal tender or
the obligations are made payable in
gold. The effect OF this is to create
great demand for gold. which has
resulted in making it's market value
20 per cent above the average value
of labor's products, which is meas
ured by silver, which is the money
of the world. Therefore, to pay
this annual interest of $1,000, 900. 900.
under a gold standard OF payment.
as advocated by Mr.. Cleveland, the
farmer must sell % per cent more Of
his products and the wage worker
must give % per cent more days OF
labor to make up this extra premium,
which is S4OO, 900, 900, making the an
nual interest $1,000, 100000. And,
further, when the principal-s40, ,OOO,-
900, ,000-is paid, the 20 per cent must
be added, making it $50, 900, 900, OOO
But still worse feature is that this
25 per cent premium on gold must be
added to all private indebtedness. re-
quiring the same additional labor or
labor's products to pay them
on account of this premium. If
we must have either gold or
silver as q standard OF payment,
let us have silver. Prosperity follows
the payment OF debts in the money
most used the world over. Cheap and
easy payment OF debts makes high
prices for labor and its productions.
Out of the worlds total population of
1850. 100000 only 90,0O0,000, or
about one-twelfth, live in countries
where gold alone is legal tender; 1885,
900, 900. or q little more than one
fifth, live where gold and silver are
both legal tender; while $4,000. 900.
or about two-thirds, use silver alone.
Thus, silver being the money OF
the world, the products OF labor
are sold the world over, on
a silver basis. Hence it follows that
while the debtor classes of the world
must sell their products on silver
basis-the price of silver and all
other products being the same-the
creditor or bond-holding classes have
succeeded, in the large b0ud-holding
governments, in making debts paya-
ble only on gold standard of pay
ment. which is twenty-five per cent
above the price of silver and the
products of labor. They have done
this by abolishing the free and un-
limited coinage OF silver and declar-
ing it not a legal tender, thereby
placing capital above labor.
l affirm it as my conviction that
class laws, placing capital above
labor. are more dangerous to the
Republic at this hour tnan was chat
tie slavery in the days OF its highest
supremacy. Labor is the superior of
capital, and deserves much the high
er consideration. on.-A. Lincoln.
Had the debtor classes the benefit
Of free and unlimited coinage of
silver as legal tender for all debts,
then they could pay their debts on q
par with the market price of their
products, instead of being forced to
pay 25 per cent more on account Of
the premium on gold. caused by the
stoppage OF free coinage and the de-
monetization of silver. The words of
the great comm0ner are applicable,
here:
have never indicated breaches of
the law in any shape, bat must say
that there are many cases in which
the lawmakers are moro responsible
than the law-breakers. Gladstone on
Ireland.
On account of this unholy interna-
tional compact OF the money kings,
the worlds producers are on q strike,
and rotten ripe for q restoration of
the time honored quality between
gold and silver. And yet Mr.. Cleve-
land, who continues to lead the Demo-
cratic party on this gold standard of
payment and opposition to the free
and unlimited coinage Of silver. says:
ut Is q strange thing to me that
there should be an independent move
ment."
Should he get away from the cold
and selfish shadows of Wall Street and
drink in the generous hospitality OF
the balmy. South. or the ozone Of
goodwill to men on the boundless
prairies Of the West. he might get
more in consonance with these i'm
mortal words ia his message:
Combinations OF combined wealth
and capital, the outgrowth of over
weening cupidity and seldshness,
which insidiously undermine the JUS
tice and integrity Of free institutions.
are not less dangerous than the COM
munism Of oppressed poverty"
The situation is plain: There Is
now one money uait for the rich