Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-04-17


People OF the United states by th'
Conference Held at Warrington
Jan. 22d.
I In tersuanee ef resolution OF thu
Executive Committee of the Ameri
can Bimetallic League adopted Nov
20, 1895, a conference was held at the
National Capital to take measures fol
q restoration OF the constitutions
standard Of gold and silver by the free
coinage OF both metals at the existing
ratio. Every State in the Unior
was represented.
Gen. A. ]. Warner called the con
| ference to order and was selected it:
chairman.
The following resolutions were read
and adopted with great enthusiasm:
"The paramount issue at this time
in the United States is indisputably
the money question. 1t is between
the gold standard, gold bonds and
bank currency, on the one side, and
the bimetall;c standard, no bonds
and government currency on the
other.
| "On this issue we declare ourselves
to be in favor of distinctively Amer
ican financial system. We are un-
alterably opposed to q single gold
standard, and demand the immediate
return to the constitutional standard
OF gold and silver. by the restoration
by this Government, independently OF
any foreign power, of the unrestricted
coinage of both gold and silver into
standard money, at the ratio OF 16 to
!, and upon terms of exact equality,
as they existed prior to 1873; the sill
yer coin to be a full legal tender.
equally with gold, for all debts and
dues, public and private.
1--WE hold that the power to con.
troll and regulate 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 controlled,
by the general government only, and
should be legal tender.
1--WE are unalterably opposed to the
issue by the United States of interest
bearing bonds in time of peace, and
we denounce as blupder worse than
q crime, the present treasury policy
concurred in by Republican House
of plunging the countryin debt by
hundreds OF millions in the vain at
tempt to maintain the gold standard
by borrowing gold; and we demand
the payment of all coin obligations o
the United States, as provided by ex
isting laws, in either gold or silver
coin, at the option Of the government
and not at the option of the creditor.
WHEREAS, the demonetization o
silver in 1878 enormously increased
the demand for gold, enhancing il
purchasing power and lowering al
prices measured by that standard; ant
WHEREAS, Since that unjust and in
defensible act, the prices Of American
products have fallen upon an average
nearly fifty per cent, carrying dowr
with them proportionately the money
value of all other forms of property
except in peculiarly favored localities
and
WHEREAS, Such fall of prices ha
destroyed the profits of legitimate in
dustry, injuring the producer for th'
benefit OF the non-producer, increas
ing the burden OF the debtor ant
swelling the gains OF the creditor
parslyzing the productive energies o
the American people, RELOCATING Il
idleness vast numbers Of willing
workers, sending the shadows of de
spair into the home of the homes
toiler, filling the land with tramp
and psupers, and building up collossa
fortunes at the money centers; and
WHEREAS, In the effort to main
tain the gold standard the countr.
has, within the last two years, in I
time of profound peace and plenty
been loaded down with $l62, ,OOO, 600 o
additional interest-bearing debt unde
such circumstances as to allow syn
dicate of native and foreign bankers u
realize a net profit of $4,000 900 on
single deal; and
WHEREAS, Another call is nov
pending for a further gold loan o
$IO0OOOOOO, which. but for an out
burst of popular indignation, woul'
also have been negotiated in the sam
secret manner and through the sam
syndicate; and
| WHEREAS, 1t stands confessed tha
the gold standard can only be uphel'
by so depicting our paper currency
as to force the prices OF our product
below the European and even belo'
the Asiatic level, in order that we ma.
sell in foreign markets, thus aggrs
waiting the very evils of which ou
people 90 bitterly complain, degrading
American labor, and striking At tn
. foundations OF our civilization itself
and
WHEREAS, The advocates OF tn
gold standard persistently claim tha