The people's journal. (Pickens, S.C.) 1891-1903, 1895-06-20
commend it but twonty-two years of
depression and disaster to the people,

| commend it but twonty-two years c
: depression and disaster to the people
and extraordinary accumulation o
wealth in the hands Of u few. Their
are some facts bearing upon this ques
tion, recognized and admitted by al
candid men, whether advocates o
bi-metallism or of the single gol,
standard. Among these is tho fac
that the very year that marked th'
change from the bi-metallic to tn,
single gold standard is the very yea
that marked the change from q condi
tion of rising prices, large profits
general cOntentment and great pros
perity, to u condition of falling prices
diminishing profits, insecurity Of inves
mont, unemployed labor, and heavy
depression in all branches of trade ant
industry. 1t Is not q matter of dispute
even among the honest advocates o
the gold standard, that general
destruction Of the bi-metallic system
and that hard times, falling prices,
idle Worklngmen and widespread
| depression came in with the gold
standard, and prevails today wherever
the gold standard has been adopted
Every international monetary con.
ference that has been called, every
demand in this country and in Europe
for an international agreement to
re-establish the bi-metallic standard,
is q confession that the demonetiza-
tlon OF the system was q blunder, if
not a crime, that it's consequences
nave been disastr GUS and that the
conditions it has wrought are full of
menace and of peril The logic of facts
establishes beyond intelligent question
that the destruction of silver as
primary money, by conspiracy of
| selfish interests, is the cause for tho
widespread depression AMI suffering
that began with the gold standard.
There can DO no restoration of pros
perlty, no permanent relief from pre-
vailing conditions until the great
cause has been removed by complete
restoration Of silver to its proper
place as money metal, equal with
gold. We believe in a money of stable
value; we believe the least of all in an
appreciating standard; it is only
through the practical operation Of
bi-metallism that Il stable standard of
value Gun be secured. A standard
constituted Of money constantly in
creasing in value is not, u sound, q
single nor a stable standard, but u
constar tly changing standard.
The effect of gold monometallism is
to establish one standard for the credi-
tor and another foru the debtor; and
There can be no more dishonest
monetary system than that which
gives short measure to the borrower
and long measure to the lender. Under
the policy prevailing prior to 1873
there can be no violent change in the
relative value Of the two metals, for q
| rise In value OF one metal is counter
hIF do.
tell In value by an increased demand
| Under the operation of this bcneiicent
law stable relation was maintained
between them in spite of the most ex
| treme changes in relative productions
From the first period of our history III
to 1873 the right of the debtor TO choose
whether he should pay his debts in
silver or gold coin was always re.
cognized. The subsequent policy has
boon to transfer this right to the
creditor, thus tending to constantly
increase the value of the dearer metal
ana destroy the parity between them.
Believing that it is absolutely neces-
sary to reverse this iniquitous and
ruinous policy, we therefore resolve
that we favor the Immediate restora-
tion of silver to its former place as q
full legal tender, standard money,
equal with gold, and the free and
unlimited coinage of both silver and
gold at the ratio Of III to | and upon
terms of exact equality.
That while we should welcome the
cooperation OF other nations, we be-
lleve that the United States should
not wait upon the pleasure of fOrci gn
governments or the constcnt OF foreign
creditors, but should themselves pro.
ceed to overthrow the grinding pro-
cess that is destroying the prosperity
! OF the people and should lead, by their
example, the nations of the earth
That the rights of the American
people, the interests of American
labor and the prosperity OF American
industry have a higher claim to the
consideration of the peoples law
makers than the greed of foreign
creditors, or the avaricous demands
made by "idle holders of idle capital. y
The right to regulate its own none
tary system in the interests OF its own
people is right which no free govern.
ment can barter, sell or surrender
This reserved right is a part OF
every bond Of every contract and o
every obligation. No creditor OF
claimant can set up right that car
take precedence over u nations obi
cations to promote the welfare OF tho
| i"oSCS VI lI9 own people. HIS is Illt
debt higher and more binding thar
oil other debts and one which is not
only dishonest bit reasonable t.
Ignore. Under the financial polio,
That now prevails we see the lane
hlled with idle and discontc ntct
workingmen and an ever-growin,
army of tramps, mon whom lack O
work and opportunity have made out
casts and beggars. At the other en-
we find that o few thousand familie
own one-half of the wealth of tn
country.
The Capitalization of wealth ha
gone hand in hand with the spread c
poverty. The pauper and the pluto
crat are twin children of tho sam
vicious and nnhoty system. The situa
tion Is full of monaco to the libertie
OF the people and the life of the re
public. The issue is enfranchise
ment OF hopeless servitude. Whateve
the power Of money can do by debar
cherry and corruption to maintain it
grasp on the lawmaking power wi
be done. We, therefore, appeal t
tho plain people of the land wit
perfect confidence in their PATRIOTS,
and ipfnl1irpnnn en- nron,o