Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-04-04

ton Of our credit system. and saws
he has remedy which will restore
lasting prosperity to the people.
what deranged and paraly zed our
business in 1898? .asked Mr.. Coxey.
England put $1OS, 100000 OF securi-
ties on our market and converted
them into gold and commenced the
withdrawal Of the gold from our
country. Then the great daily news
papers commenced this agitation edi-
torially that the continued purchase
of silver by the government through
the purchasing clause of the Sher-
man act, which made it mandatory
on the secretary of the treasury to
purchase each and every month A.
10000 ounces of silver and to pay
therefrom in treasury notes legal
tender for debts, at the market price
OF the silver which brought into Cir
culation each month under this law
$4,000 900 of money. The gold gam
blcrs of Wall street ana national
bankers wanted the law repealed be-
cause it brought the government int o
competition with them in the money
market. The daily press commenced
the agitation that it was going to
create q panic. These newspapers.
going into the homes of the people
who had deposited their earnings
with the bankers. the people became
frightened and rushed to the banks
to get their deposits. These runs
being made upon the banks the bank
ers had no money to discount notes
with and therefore the manufacturers
being unable to get their notes dis
counted could not get money to pay
their men. closed down their works
and threw their people upon the
highways helpless and nowhere to
sell their labor. Four millions be-
came idle through this panic made
by the gamblers in Wall street. and
16. 000,000 of their immediate fami-
lies dependent upon them-making
a total of 10000. O1O of our own con-
sumers taken out of our own market.
Is it any wonder that the revenues of
our government should fail off, when
20. QUO 900 of our own people had
been stopped from consuming for
eign as we'll as domestic products?
Coxey's Remedy.
Manufacturers unable to get their
notes discounted were compelled to
throw their products upon the mar
ket 10 realize upon them to get
money to paw debts; therefore COM
petitors must either meet the prices
or else allow their goods to remain
upin their hands unsold, and in
order to meet the price they must
cheaper the cost of production. and
who does it strike now? Labor must
be reduced, then comes the strike.
the lockout, starvation, misery, des-
titution and want, only to be met
when they strike with four millions
Of idle and unemployed to take their
places at any price. only so they can
get bread to stop the cry of the little
ones at home.
"Now where is the remedy? 1t
lies in the adoption of one law, that
the commonweal army marched 400
miles to appea! to congress to pass.
and give every man an opportunity
to sell his labor in identifying and
improving our country when they
cannot find employment in produc-
ing the necessaries and comforts of
life. We see now products stored up
that people cannot buy. therefore we
do not want to produce more sur.
plus products. bat to start the idle
and unemployed to producing some
thing that cannot be put upon the
market to be sold to come into COM
petition with the surplus products
stored up. Then start them to work
IN building good roads and various
public Improvements. and while
they are doing this they will create
value. Then let the government
issue money on the value created
and pay these men for services rem
dered the same as they did the SOL
diers during the war. and in this
manner the men will have . pur.