The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-04-15
Stockholm, Wright Co., MINI.
BASIS OF UNION.

Editor Representatives:
1t seems to me that an effort should be
made to have the national committee of
the Peoples Party and the Free Silver
Party meet at ST. Louis in conference two
or three days previous to the holding of
their national conventions, and try and
frame and adopt compromise platform
upon which both parties could unite, and
make one great party. I am true blue
POpullst, but not one Of those that expect
to jump from the mire to the top of the
mountain at one bound. I am for union
Of all reformers 1 want to meet on COM
mon grounds and join hands for a common
good and march to victry in November,
SO. Let our platform be simple and to
the point. Four or five planks are enough
to remedy all the evils that aff1ict the pro-
ducers of this republc-just enough for
all true patriots of this nation to stand on.
First, free and unlimited coinage Of sill
yer and gold at its present legal ratio, 16
to I. This is plank upon which all true
reformerS stand.
It is absolutely necessary in order that
we may regain our commerce which we
have lost by being obliged to pay an I'm
just export bounty on nearly 100 per cent
in order to compete with free silver coun-
tries. At present hundreds OF our enter
prising citizens are doing business in free
silver countries with our gold coin or
treasury notes. They buy silver bullion,
which they take to Mexico, a free silver
country; there they get it coined into the
Standard coins of that country, which
little more than doubles it's value. With
the coins they buy dried fruits, lemons,
oranges, etc, which are brought to this
country and sold in competition with our
western and southern fruit growers, who
are being bankrupted. They also buy cot
ton which is sold in Great Britain in COM
v,,itt MI Vofn 70
same thing is being done in the Argentine
Republic. British and American specula-
tors, also agents Of banking corporations
go to that country with silver bullion,
which they get coined into the standard
coins of that country which doubles it's
value. With the coins they buy wheat,
which is shipped to Great Britain, gold
standard, country, where it is sold for gold.
With the gold they buy more silver bull
lion, and the same process is repeated,
each time getting $1.29 per bushel for their
wheat. While the American farmer liv-
ing in gold standard country where sill
yer is denied the right of coinage must
deliver his wheat in Great Britain at IS
to 70 cents per bushel, or about half what
the Argentine famer gets for his.
There is another reason, and great one
why all citizens of this republic, except
those engaged in banking or loaning
money, should stand for free coinage of
silver, and that is the difference in cost of
silver coin and national bank notes. II
miner has 1000 worth Of silver bullion
under free coinage he can have it coined
or exchange 1t for standard dollars. The
dollars he receives belong to him-if he
gives 100 of them to a farmer for horse
they belong to the farmer. Thus they pass
from hand to hand and complete hundreds
of transactions. each time buying some
thing the holder wants or liquidating a
debt, with no other cost to the people than
the miners exertion; while national
bank note cannot exist a medium of
exchange until someone borrows it and
pays discount, all the people pay per
cent on the bonds deposited in the United
States treasury to secure the banks circu-
lation. The individual who borrows it
pays per cent discount for 80 days, the
longest time the bank loans for. Ninety
days is about one-fourth of year. so that
portion of their circulation that is loaned
for 80 days is compounded four times a
year, and, that portion loaned for 80 days
is compounded II times a year, or about
10 per cent per annum, rate of interest
that will bankrupt any legitimate BUSH
ness. g. w. Powell.
Saltwater Mimi, Feb. 49, 1896.
CONTINUED next week.