Middlebury register. (Middlebury, Vt.) 1886-1937, 1896-01-31
A GREAT NEW PARTY IN PROCESS
OF FORMATION,
rContinued from first page

DltdNdul COuultIldlCt, anu III Nlt NOul ~
of his remarks stated that he was born
in Kentucky. but that both his parents
came from New England.
The following are the resolutions
adopted. They were introduced and
read by senator Jones of Nevada:
The paramount issue ut this tune IN the
United states is indisputaDly the money
question. 1t il betw. en- the gold standard,
gold bonds and bank currency on the one
side and the bimctallic standard, no bonds,
aud government curl ency on the other
ON this issue declare ourselves to be in
favor OF Il distinctive American financial sNs
TEN. We are unallerlbly opposed to the sin
gle gold standard, and demand the immedi
ate return t., the constitutional standard of
gold ana silver, by the restoration by this
govcrunel independently OF any foreign
power. OF the unrestricted coinage OF both
gold and silver into standard money, ut the
ratio OF G to J, and upon terms OF exact equal
ity rs they existed prior 10 1873, the silver
coin to be "a iull legal tender, equally with
gold, tor all debts and dues, public and pri
vate.
We hold that the power to control aud reg
ulate paper currency is inseparable from
the power to coin money; and, hence
that all currency intended to circulate as
money should be issued and its volume con
trOled by the general government only and
should be lclal tender.
We are unalteraDlv opposed to the issue by
The United states OF lntrres bearing bonds in
time OF peace, and we dcnOunce rs II bunder
worse than Il or me the present treasury pol
icy. cOncurred in by II Republican house of
plunging the country in debt by hundreds of
millions i'm the vain attempt to maintain the
gold standard by borrowing golJ; ana we
demand the payment OF all coin obligations
OF tn United states as provided by existing
laws, in either gold or silver coin, at the OPP
ton of the government, and not ut the option
of the creditor
Whereas the decentralization of silver in
1873 enormously increased the demand tor
gold, enhancing its purchasing power and
lowering all prices measured by that stand
ard; and
whereas since that unjust and indetensible
uof fhn nf hax.
fallen u0On an average nearly 80 per cent,
carrying down with them proportiunatelv
the money value OF all other forms of proper
AMI
Whereas snch fall OF prices has destroyed
the profits OF legitimate industry, lnjuring
the pro lucer tor the benefit of the non pro
Queer il creasing the burden OF the debtor.
aud swelling the gains of the creditor, par.
alyzlng the productive energies OF the Amer.
lean people, RELOCATING to ideness vast num-
Ders Ot willing workers. sending the shadows
of despair into the homes of the honest toiler,
filling the land with tramps and paupers and
building up colossal fortunes at the money
ceuters; and
Whereas in the effort to maintain the gold
standard the country has, within the last
eighteen months i'm a time o. profound peace
and plenty, been loaded down with SlG2 OOO,-
COO of additional interest bearing debt. under
such circumstances as to allow II syndicate OF
native ana foreign bankers to realize Il net
profit of 100000 900 on IL single deal: and
Whereas another call is now pending for
further gold loan Ot 800 100000, which, but
tor an outburst at popular Indignation, would
also have been NEGOTIATED in the same secret
manner ANA through the same syndicatcs;
and
Whereas it stands confessed that the gold
standard can only be uphelG by so depicting
our paper currency rs to force the prices Ot
our products below the European and even
below the Asiatic level, in order that we may
sell in foreign markets. thus aggravatng the
very evils ct which our people so bitterly
complain, degrading American labor, and
striking ut the very foundations of our civil
cation itself; ami
Whereas the advocates of the gold standard
persistontly claim that the real cause of onr
distress = oVerprOductlOn-that we have pro
duced 40 much that il has made us poor
which implies thar the true remedy is to close
the factory, abandon the farm, and throw
multitude OF reople out nt employment-a
doctrine that leaves absolutely without
hope tor the future ana
whereas the difference of exchange be
tween silver standard countries and gold
standard countries Is equivalent toa bounty
d equal tO the difference between the value OF
gold and silver. in favor OF the products OF
silver standard countries exported in gold
standard countries, and n corresponding
tariff ngainst the products OF gold stan' ard
countries exported to silVeruslng countries;
ana
whereas the cost of production otherwise
in the old word, and particularly IN emma
ANA Japan, is lar less than the cost at which
similar products can be produced or manu-
tactureu in TINS country by American labor
without reducing our farmers miners, me
chanics, manuiactul ers ana Other INDUSTRIAL
workers to the .eNel OF Chinese coolies;
Therefore, he it resolved, that over and
above all other questions OF policy, we are in
litN or or restoring to the people OF the United
States the time huEor-d money OF the Con
stitutlOn-gOld and silver, not one, Dut Dotn-
lhe money of Washington ANA Hamilton ana
| Jefferson and Monroe and Jackson and LIN
coin, TO the emf that the American people
may receive honest pay 1or an hone4t
product; tle American debtor pay MS JUST
obligations in an honest standard ana NOT IN
standard that is appreciated 100 per cent
above AN the great staples OF our country ,
u1 IN he am tII'th he
! COUNT les III ~ be deprived OF the unnatural
advantages they now enjoy IN the difference
in exchange between gOld ana ellNcr-lh ad-
vantage which tariff legislation alone cannot
! overcome.
We therefore confidently appeal to the PEG
pie OF the 'nitcd states that lie wing IN hOeN
unCe tor the moment all other Questons,hOW
ever important, even mOincntous, they may
appear, and sundernp, il need be, all former
party ties and affiliations that they unite IN
one supreme effort to trec themselves ana
/ their children from the domination or me
money powcr-a power more destructive
than any which has ever been fastened upon
the civilized men OF any race on in any age
And upon the contamination OF their desires
and efforts we invoke the gracious thNor OF
Divine Providence.
The reading of the report was inter
rupted with Outbursts of applause at ev-
cry sentence, and at the conclusion eV-
cry man in the hall rose to his feet.
Hats and umbrellas were waved IN the
air and there were three loud cheers.
Senator JCnes was called upon Tor Il
speech. lie said "N GU will either be
redeemed and Disseminated and the TWEEN
tieth century will either be opened with
Il wave of prosperity, or we will go
gradually down to slavery. 1t Is ques-
ton whether the poorhouses shall be
turned into factories or the factories
turned into poorhouses.
NOT A DISSENTING VOTE.
Upon the motion of Mr.. Hatch. a rls
ing vote of thanks was rendered to Sen
ator Jones and committee, and the re-
port was adopted unanimously Mr..
Dienderfer of Philadelphia declared
that he had been a political hereto with
out "A creed, but he believed the men who
framed those resolutions did right in the
sight of God and man.
The secretary then read the report of