People's voice., 1896-06-04
THE TlONEY QUESTION.
Resolutions and Address to the Peo-
pie of the United States.

l
pie of the United States.
"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, O1 the one side, and
the bimetallic standard, 20 bonds,
and government currency, on the
other.
"On this issue We declare ourselves
to be in favor of a diStinctively
American financial system. We are
unalterably opposed TO the single
gold standard, and demand the i'm
mediate return to the constitutional
standard of gold and silver, by the
restoration by this Government, inde-
pendently of any foreign power, of
the unrestricted coinage of both gold
and silver into standard money, at
the ratio Of l6 to l, and upon terms
OF exact equality. as they existed
prior to 1873; the silver coin to be a
full legal tender, equally with gold,
for all debts and dues, public and
private.
"We hold that the power to control
and regulate paper currency is in
separable from the power to coin
money; and hence that all currency
intended to circulate as money
should be issued, and its volume con.
trOlled, by the general government
only, and should be legal tender.
"We are unalterably opposed to the
issue by the United States Of interest
bearing bonds in time of peace, and
denOunce as a blunder worse than a
crime, the present treasury policy,
cOncured in by republican house, of
plunglng the country 10 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 of
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 characterization OF
silver In 1873 enormously increased
the demand for gold, enhancing its
purchasing power and lowering all
prices measured by that standard; and
WHEREAS, Since that unjust and
indefensible act, the prices Of Ameri-
can products have fallon upon an
average nearly fifty per cent, carrying
down with them propOrtionately the
money value Of all other forms Of
property, except In peculiarly favor
ed localities; and
WHEREAS, Such fall of prices has
destroyed the profits Of legitimate In.
dustry, injuring the producer for the
benefit Of the non-producer, increas.
ing the burden Of the debtor and
swelling the gains of the creditor,
paralyzing the productive energies of
the American people, RELOCATING to
idleness vast numbers Of willing
workers, sending the shadows Of des-
pair into the home Of the honest toll
er, filling the land with tramps and
paupers, and building up colossal
fortunes at the money centers; and
WHEREAS, In the effort to main.
tain the gold standard the country
has, within the last two years. in a
time of profound peace and plenty,
been loaded down with sl62, 900, 900 of
additional interest-bearing debt
under such circumstances as to allow
a syndicate Of native and foreign
bankers to realize net profit Of slO,-
100000 on single deal, and
WHEREAS, Another call Is now
pending for further gold loan Of
slOOOOO,OOO, which, but for an out.
burst OF popular indignation, would
also have been negotiated in the same
secret manner and through the same
syndicate; and
WHEREAS, 1t stands confessed
that the gold standard can only he
upheld by so depicting our paper cur
rency as to force the prices Of oul
products below the European ant
even below the Asiatic level, in order
that we may sell in the foreign mar
kets, thus aggravating the very evil.
OF which our people so bitterly com
J plalD, degrading American labor, and