The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-07-22

Total world product was. there


This does not look as il the United States
for silver. does It? y When LOO, ooo. 900 Of
money. and England alone has bought 80,
0O0. 5000 ounces annually from us. and up to
to May q. 1896. we had already shipped $780,
bonds in coin as provided in the contract.
We never promised to pay the bonds in
When single firm of Rothschilds & Co.,
London hold two-fifths Of all the gold and
about two-f1fths more are cornered in the
hands OF other banking syndicates: When
it is all cornered, how will we get the $780,
900 gold annually to pay our interest on
why, by selling more bonds of course,
under present conditions, and so go on pill
Ing up 1o the debt? Ho! no! and SO make the
BY our proposed method we shall stop
selling bonds, we shall pay up the bonds is
sued. stop the interest. Choke off the Shy
work and pay and the farmer prices for his
produce. He will then pay his mortgages
and have some N no on to spend Is 1t pos
are to be enslaved by that little dead lump,
% feet cubic of yellow metal? seven PAGES
wide, long and high? Bah! Suppose 1t We're
dropped into the sea nine miles deep? What
then? Why; the silver, Of course: And 5, ST. :
be cornered by the banks. Then what?
Then let the government Issue treasury
notes. of course. Why not the banks? Be-
cause they would corner anything that the
itself , did not c tnans There
crease in the circulating medium from 81
as at present, to at least $50 per capita, and
Second that this be issued by the general
government only, and instead of loaning 1t
| to national bankers at per cent per annum
| as the government now does, 1t loan at
per cent on real estate or land, If at all,
| that cannot fail.
Third, that government establish postal
| savings banks that cannot fail. Had this
been the case in 1893. over seven hundred
| and fifty millions Of dollars of the people s
| money would have been saved, $75O.0O 1900, In
Fourth. free coinage Of silver and gold at
| 16 to /, as it was before 1873. and as gold is
: now
United States produces 237 times as much
silver, and all America produces 4S7 times as
producing factor she England) is positively
insignificant; producing less than one one
sixhundredth part Of the worlds silver, she
demonetize it. etc. etc. In short she die
tates our monetary system. No more sick
ening spectacle. could be presented to free
and enlightened people than the telegram
John Eull flashed across to our Republican
committee at ST. Louis congratulat1ng them
on the recommended adoption of the gold
If America with but 100 millions Of souls
produce so per cent Of all the wool IN the
world and the worlds population IS 1Soo
producers to let the rest Of the world have
the wool at its own price? Especially when
the L. 400 millions must buy the wool. Any
man of sense would say not. Especially
| would II be foolish to let q nation producing
but ii 900 part OF the worlds product of
wool set the price for the producers of the
other 9a9-1 600
Now, let us suppose that the only currency
in the world were wool and hair That both
were about equally divided In value. That
1c pounds Of wool were worth cHe pound Of
hair and that tfe Rothschlds and other
bknlfng syndicates had pretty thoroughly
cornered the hair while the wool was scat
tered widely among the debtor class. Sup
posing further that America. producing
four-ffths Of the wool and norma. amount
of the hair were. during the war and at its
Great Britain In the sum, say either 5000
million pounds Of wool at zoe pound or
one-sixteenth as many pounds OF hair at $500
PAYMENT OF debts Of all kinds Now, sup
| posing in 1873 Great Britain, our creditor,
| or other factors, brought pressure to bear on