The herald., 1896-09-09
9

trade are fought.
There is but one way known among
men to regulate the value of money and
that is to regulate its volume. He who
can regulate the money volume of ma
ton has within his power the nation
itself, as well as every individual there
| of, because he can increase or decrease
prices in general to suit his pleasure He
can enrich the few and impoverish the
many; he can eXalt those who create
wealth or he can enslave them at his
will.
For thousands of years those who
| have understood the science and func-
tion of money have so manipulated the
| volume of it, by legislation or otherwise,
as to destroy every civilization that has
| preceded the present one and those
persons who now control by law or 9TH
erwise the value of money in circulation
in the world will. if not restrained by
healthful and proper laws, ruin the pres
ent civilization. Such persons have no
regard whatever for those who protect
them in the hour of. need. Their sole
purpose is to accumulate as much
wealth as possible and thereby exalt
themselves at the expense of the pro-
ducing millions.
1t is they who secured the legisla ton
m this country relating to money and
bonds that has produced the condition
of the people at the present time.
1t is because people generally have no
accurate conception of the science and
| function of money that enabled those
| who understood the question to secure
legislation in this country which enorm-
ously decreased the money in circula-
tion and produced a corresponding fall
in prices in general
1t was they who secured the passage
of the law of February ~, 1873, which
destroyed the use of silver for money
in this country. By that law one of the
sources of money supply was cut off
and as a result the value-the purchas-
ing power-of the money that has como
from the other source of money supply,
the gold mines, has doubled and prices
have fallen accordingly.
Those who secured the passage of that
law were they who were large owners
of money and national bonds. BY that
act the value of money was doubled and
the value of their bonds was greatly in
creased.
| The acts of congress that have been
passed since 1866 relating to money and
bonds, with two eXceptions-the act of
1873 and the act of 1S90-are among the
most Infamous acts of legislation that
have been enacted by any government
in modern times.
Since the passage of those laws the
| shrinkage in the quantity of money in
circulation, with respect to population.
| has gone on without let or hindrance,
| and as a result there has been a contin-
uous fall in prices in general, which has
bankrupted and pauperized untold
numbers of our people and has par
alyzed and to large degree has de-
stroyed the farming and other indus
tries of the country.
The financial storm came. By those
acts it has continued with ever increas-,
ing fury for the past twentyth
| years, and the sea of commerce and
trade in this country has been strewn
with innumerable financial wrecks Of
every character and kind.
The country during those years has
| been, and is now, afflicted with financial
| paralysis, and unless relief is furnished
soon there is no telling what the conse-
quences may be.
These conditions of things are the
| result and the result only of the adop-
! ton by this country Of 1.-The British gold
standard The adoption of that
standard means European conditions
and prices.
! 1t means more than European condi-
tions and prices; it means ultimately
Egyptian conditions and prices. The
Republican party proposes to maintain
the present gold standard" and there
fore it is in favor of present conditions,
and it will not consent to change until
in making change.
| When other nations consent to help
us in that behalf there will be no need
| of help, because we will cease to ex-
ist as a nation, unless we assert our
independence, as it is now proposed to
do.
1t Is in favor of constant shrinkage
in the quantity Of money in circulation,
and therefore it is in favor of lower
prices, and it proposes. if it succeeds
to power, to further press prices down,
unless they can be raised by increasing
| taxes.
| 1t proposes to manufacture no more
money for the public except such as
may be made out of gold.
| How is it possible for a nation or an
individual to become prosperous by con-
tinually increasing the amount of taxes,
that are to be paid, is a matter that is
beyond the comprehension of the ordi-
nary mind, and yet this is the very
thing that the Republican party proposes
to do if placed in power again.
Therefore taxes can be paid, money
must first be manufactured and deliv-
cred to the people, Money does not
grow it is manufactured and the con.
gress alone in this country has power
| to make it.
1t is affirmed by those who are in
favor of the gold standard" that all
| that is necessary to be done to make
| the people prosperous is to open the
mills and set idle men to work. 1t may
as well be understood first as last, that
the mills of this country will never be
opened more than they are at the pres
| ent until the mills of this country, owned
| by the government in which money is
manufactured. are first opened to the
| free coinage of units of money out of
| gold and silver at the rate established
| by the law of 1887, and until they are