The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1895-06-20
,umllation Of wealth in the hands Of

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this question recognized and admitted
Dy ~ candid men, whether advocates
OF plmetalllsm or Of the single gold
standard Among these is the fact
that every year that marked the
change from the bimetallic to the sim
gle gold standard is the very year that
marked the change from a condition of
rlslns prices, large profits, general con-
tenIment and great prosperity, to
condltlon as follows: calling prices,
diminishing profits, insecurity Of in
vesllments, unemployed labor, and
heaVy depression in all branches Of
the trade and industry" 1t is not
matter Of dispute, even among the
honest advocates Of the gold Standard
that general prosperity came to an end
WIN the destruction cf the bimetallic
system, and that lard es, falling
prices: idle workingmen and wide
slreAd depression came in with the
golq standard and prevails to-day
Wherever the gold standard has been
ADOPTED. Every inter- ational none
tary conference that has been called,
every demand in this country and Eu-
rope Tor an international agreement to
re-establish the bimetallic standard is
confession that the demonstration
OF silver was blunder if not a crime:
that Its consequences have been disas-
trous, and that the conditions that 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 a conspiracy Of selfish interests is
the cause Of the widespread depres-
sion and suffering that began with the
Solu standard. There can be no resto.
ratlon of prosperity, no permanent re-
nel from prevailing conditions until
the great cause has been removed by
complete restoration of silver to it's
proper place as money metal, equal
with gold.
we believe in money of stable
value; we believe least of all in an an
preclatlng standard; it is only through
the practical operation of bimetallism
mat stable standard Of value can be
oDtalned. A standard constituted of
money constantly increasing the value
IS not sound, single or a stble stand
ard' put a constantly changing stand.
ara: Ihe effect of gold recommendation
IS TO establish one standard for the
creator and another for the debtor.
ana there can be no more dishonest
monetary system than that which
gives short measure to the borrower
and long measure to the lender. IN
DER the measure prevailing prior to
1873 there can be no violent change in
the relative value of the two metals.
for rise in value of one metal is
counteracted by a decreased demand
and fall in value by an increas ed de-
1nand: Under the operation of this
oenencent law a stable relation was
maintained between them in spite of
the most extreme changes in relative
productions. From the earliest period
OF our history up to 1873, the right of
the aeotor to choose whether he should
pay his debt in silver or gold coin was
always recognized. The SUBSEQUENT
pollcy has been to transfer this right
TO the creditor, thus tending to con-
stantly increase the value of the dear
er' metal and destroy the parity be-
tween them.
Believing that it is absolutely neces-
sary, to reverse the iniQuitious and
rulnous policy, we therefore resolve:,
- That we favor the immediate resto
ration Of silver to it's former place as
a full legal tender standard money
equal with gold, and the free and un-
limited coinage Of both silver and gold
at the ratio of 16 to 1 and upon terms
of ex act equality.
That While we should welcome the
cooperation Of other nations, we be-
lieve the United States should not
wait upon the cooperation of other
governments or the pleasure of cred
ltors, but should themselves proceed
to reverse the grinding process that
is destroying the prosperity of the peo-
PIE and should lead by their example
the nations of the earth.
mat the rights of the American Deo
pie, that the interests of American la
Dor ana the prosperity of American in
dllstry have higher claim to the con-
slderatiun OF the peoples lawmakers
than the greed Of foreign creditors or
the ayericious demands by idle hold
ers of idle capital"
The right to regulate it's own none
tary system in the interests of its own
people is'a right to which no free GOV
crnmcnt can barter, sell or exchange.
This reserved right is q part of every
pond, OF every contract, and of every
oN~>@>~NAOA'
can set up right that can take prece-
dcnce over a nations obligations to
promote the welfare of the masses of
it's own people. This is debt higher
and more binding than all other debts.
ana one which is not only dishonest
but reasonable tn ignore.
Urder the financial policy that now
prevails we see the land filled with
idle and disconnected workingmen and
an ever-groWing army of tramps; men
whom the lack Of work and opportuni-
ty have made them beggars. At the
other end we find Il few thousand fam
lies who own One-half Of the wealth
OF the country. The cent :alization Of
wealth has gone hand in hand with
the spread of poverty. The pauper
and the plutocrat are twin Children of
the same vicious and unholy system
The situation is full of menace to the
liberties Of the people and the life of
the republic. The issue is enfranchise-
lnent or hopeless servitude. Whate YER
the power Of money can do py de-
bauchery and corruption to maintain
us grasp On the lawmaking power will
be done. We therefore appeal to the
plain people of the country with per
feet confidence in their patriotism and