The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1896-06-05

Chicago Tribune Owned in England)
form for free coinage, which is as fol-
lows:
Leaving the domestic affairs Of the
several states to those party organiza-
tons already occupied Herewith. and
believing that the senate of the United
States is quick to respond to the clearly
expressed will of the people, we confine
our present attempt to the election OF
the president, vice-president, and rep
resentatives in congress on the follow
ing demands:
First (a) That the minis of the Unit
ed States shall be reopened to equally
unrestricted coinage for gold and silver
into the unlimited legal tender money
of the United States; the gold to issue
in the present standard gold coins, and
the silver to issue in the present stand
ard silver dollars. (b) Depositors of the
lieu of coin, If they prefer, at the coin
ing value thereof, coin certificates
which shall be redeemed on demand in
gold or silver at the mint to receive in
according to the convenience of the
United States. (c) And as safeguard
against panic and money stringency the
secretary of the treasury shall be en-
powered to issue such coin certificates
additionally against deposits of in
terest-bearing bonds of the United
States, the interest accruing on the
bonds to inure to the United States
pending their re-eXchange for the coin
certificates, which coin certificates
when returned shall be cancelled; pro-
vided that such additional issues of
coin certificates shall not reduce the per
centage of coin and bullion reserved for
coin certificates and silver certificates
below sixty per cent of the aggregate
sum OF coin certificates and silver certi-
ing silver certificates, gold certificates
and treasury notes of 1890 to be retired
as they come into the treasury.
This (a) is free coinage at 16 to 1, the
convenient coin certificate (b) to take
the place Of gold certificates, silver GER
tiiicates and treasury notes of 1890. The
safeguard (c) would provide for tenn
porary increase Of $500, 000,000 of paper
money against the silver on hand in the
treasury April LIST.
Second. The threatened competition
with cur southern cotton mills of those
Of China and Japan, the increasing i'm
portations of long stapled Egyptian in
competition with our Sea Island cot
ton, and the ill effects of the abrogation
of the tariff on wooden manufactures,
combine to evidence the fact that the
time has not arrived to abandon an
adequate protective tariff system in
vain pursuit of the phantom Of free
trade.
The effect of the wool schedule of the
Wilson bill has been to enrich the
European manufacturer at the expense
Of our domestic manufacturer, and en-
large the European market for foreign
woods while lessening our home market
for our domestic woods, occasioning an
advance of two cents a pound for Port
Phillip (Australian) wool in London,
while unwashed Ohio wool has declined
IL cents a pound in Boston and New
York; and producing such a depression
of our home manufacturers as has
caused q reduction in wages of opera
tives and threatens to throw this branch
Of domestic labor out of all employ
ment.
our home markets Of seventy millions
of consumers to the foreigner on any
pretense of procuring thereby foreign
market for the productions of the Unit
cd States. But we shall exact Of our
manufacturers that they accord to lab
or liberal and more continuously GER
tain share of the protection accorded
them; and that the tariff devised shall
afford also Q protection to the farmer
and the planter, and provide sufficient
revenues for the necessary expendi-
lures Of government.
This second demand meets the re-
quirement OF the great mass of Ameri-
can labor, to whom Mckinley threatens
become the embodiment of the protec-
tive tariff. While my reports from all
sections, including the new south, are
overwhelmingly in favor of protection,
comparatively few manufacturers favor
the restoration of the Mckinley tariff.
Third.-We demand the application
Of the principle defined as the initiative
and referendum, to all national legisla-
ton which involves any radical change
in public policy.
A test of this principle, thus restrict
ed to any radical change in public
policy, seems warranted by the practice
of Switzerland. The test may commend
a broadening Of the restriction, If found
practicable. Should the great trunk
lines of railway become a possession of
the government" would seem to be
such a radical change in public policy
as might wisely be referred to the peo-
pie.
Fourth.-We condemn Clevelandism
utterly; that debauching of legislators
with patronage to achieve legislation
Opposes to the will of the people is a
vicious prostitution of executive in
fiuence, which we shall denounce as bit
terly If 1t be the practice of an executive
elected as q republican as when the
practice of one elected as democrat.
If all who have become distrustful of
old parties and tired of boss rule will