The midland journal. (Rising Sun, Md.) 1885-1947, 1895-01-04
LIVE ISSUES.
THE ONE GREAT ISSUE.

The Following Declaration and Reso-
luton Were Adopted at the Con-
ference of the American BIZ
metallic League, Held at
ST. Louis, no., Nov.
d and 2S, 1894.
1t is an indisputable fact that the
monetary revolution inaugurated
in 1873, by changing the money
standard from gold and silver to
gold alone, has resulted, in twenty
years, in doubling the value of
money and reducing the general
level of prices so per cent, or to
one half the former scale. 1t is also
fact that cannot be denied that
the repeal of the so-called Sherman
law, following the closing of the
mints of India to silver, instead of
restoring prosperity to the country,
as was promised when it's repeal
was demanded, has resulted in an
average fall of prices in the United
States, of 15 per cent in a single
yea1-a fall unprecedented in the
annals of trade. This change in
the relation of money to commod-
tiles, debts and taxes, is fast de-
stroying the independence of Amer
lean farmers and other industrial
classes, and reducing to a condition
of dependence and serfdom the en-
tire producing and laboring popula-
ton of the country, and will, if not
arrested, undermine the foundations
of civil liberty.
When, therefore, the far-reaching
and immeasurable consequences to
the civilized world of this change
in the money standard are consid-
ered-a change clandestinely begun
in conspiracy of the -produc-
ing, banking and bondholding
classes, under the hypocritical pre-
tence of honest money, to plunder
the world by doubling it's vast
debts, just then enormously in
creased by unfortunate wars, and
to enable the conspirators, their
aiders and abettors, to command
the products of life and labor at a
lower rate than open acts or even
handed justice would permit-when
these facts and their effect upon
mankind are considered, and the
records of the last quarter of the
10th century are made up, this
change in the money standard must
stand as among the most monstrous
of public crimes in the history of
the human race.
Nor is the end yet. The appre;
ciation of gold and the fall of prices,
under existing conditions, must 60
on indefinitely as population in
creases and the gold standard is
extended to still other countries.
There is no remedy for the evils
attending this condition of things
but to remove the cause. The
proposition, therefore, to cure ex-
listing evils that are worldwide.
and restore prosperity by changing
tariff-schedules, is so puerile as to
merit only contempt.
Nor can the gold standard be
maintained by issuing bonds and
borrowing gold; and we denounce
the issue of bonds in time of peace
and for the purpose for which they
are being issued, as not only with
out authority Of law but utterly
indefensible as a public policy; and
we call upon Congress to i'm
mediately put a stop to this unlaw-
full and reckless use of the public
credit. What is needed now is
more standard money to carry on
business and pay debts and taxes
with, and not more promises to pay
gold.
We denounce also the proposed
policy of delegating to banking in
stitutions, organized for private
gain, the power to issue and regu-
late the paper currency of the
country, a sovereign power which
the general government alone
should exercise. The policy of
permitting the issue and regulation
of currency by banks, or corpora
tions of any kind, has been discard
ed by every enlightened nation on
the earth, and it would be a dis