The herald., 1896-07-09

tanned the integrity Of the dual scheme
OF government as established by the
founders of this republic of republics.
Under its guidance and teachings the
great principle of local self-government
has found its best expression in the
maintenance of the rights OF states and
its assertion of the necessity of combining
the general movement to the exercise
of the powers granted by the constitu-
ton of the United States.
THE MONEY QUESTION
Recognizing that the money question
is paramount to all others at this time,
we invite attention to the fact that the
federal constitution named silver and
gold together as the money metals OF the
United States and that the first coinage
law passed by congress under the con-
stitution made the silver dollar the mon
etary unit and admitted gold to free
coinage at ratio based upon the silver
dollar unit
We declare that the act Of 1873 demone-
tizing silver without the knowledge or
approval of the American people has re-
suited in the appreciation of gold and
a corresponding fall in the price of COM
modities produced by the people,
heavy increase in the burden of taxa
tion and of all debts, public and private,
the enrichment of the money lending
classes at home and abroad, prostration
of industry and impoverishing of the
people.
We are unalterably opposed to mono
metallism, which has locked fast the
prosperity Of an industrial people In the
paralysis of hard times. Gold Mono
metallism is British policy, and its
adoption has brought other nations into
financial servitude to London. 1t is not
only un-American but anti-American,
and 1t can be fastened on the United
States only by the sinking of that spirit
and love of liberty which proclaimed our
political independence in 1776 and won
it in the war of the revolution.
SILVER COINAGE
We demand the free and unlimited
coinage of both gold and silver at the
present ratio of 16 to without waiting
ton. We demand that the standard
silver dollar shall be full legal tender
equally with gold for al debts, pubic and
private, and we favor such legislation as
will prevent for the future the demone-
tization of any kind of legal tender
money by private contract.
We are opposed to the policy and prac-
tice of surrendering to the holders of the
obligations of the United States the op-
tion reserved by law to, the government
of redeeming such obligations in silver
or in gold coin. We are opposed to the
issuing of rest-bearing bonds of the
United States in time of peace and con-
denim the trafficking with banking syndi-
Gates. which, in exchaJ rye for bonds at an
enormous profit to themselves, supply
the federal treasury with gold to main
tain the policy of gold monometallism.
BANK NOTES
Congress alone has the power to coin
and issue money, and President Jackson
declared that this power could not be
delegated to corporations or individuals.
We therefore demand that the power to
issue notes to circulate as money be
taken from the national banks and that
all paper money shall be issued directly
by the treasury department, be redeem
able in coin and receivable for all debts,
public and private.
THE TARIFF
~ ,o,,,oa tas tnat tttbh the tariff duties should
such duties to be readjusted as to oper-
ate equally throughout the country and
not discriminate between class or Sec
tion and that taxation should be limited
by the needs of government honestly
and economically administered. We de-
nounce as disturbing to business the Re-
publican threat to restore the Mckin-
ley law. which has been twice con-
demned by the people in national cleo
tions, and which, enacted under the
false plea of protection to home industry,
proved prolific breeder of trusts and
monopolies, enriched the few at the ex :
pense of the many, restricted trade and
deprived the producers Of the great
American staples of access totheir nat
ural markets. Until the money question
is settled we are opposed to any agita-
ton for further changes in our tariff
laws except such as are necessary to
make the deficit in revenue caused by
the adverse decision of the supreme court
on the income tax.
INCOME TAX
But for this decision by the supreme
court there would be no deficit in the
revenue under the law passed by a Demo-
cratic congress, in strict pursuance of
the uniform decisions of that court for
nearly 100 years, that court having un-
der that decision sustained constitution
al objections to its enactment which had
been overruled by the ablest judges who
| have ever sat on that bench.
| We declare that it is the duty of con-
gress to use all the constitutional power
which remains after that decision, OF
which may come from its reversal by the
court, as it may hereafter be consti-
tuted SO that the burdens of taxation
may equally and impartially be di-
vided, to the end that we all may bear
it's due proportion of the expenses Of
government.
PROTECTION TO LABOR
We hold that the most efficient way OF
protecting American labor is to prevent
the importation of foreign pauper labor
to compete with it in the home market
and that the value of the home market
to our American farmers and artisans
is greatly reduced by vicious monetary
system, which depresses the prices Of
their products below the cost of produc.
ton, and thus deprives them of the
means of purchasing the products of oul
home manufactures. The absorption Of