The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-07-22

our congess. demonetizing the wool and taxi
ing away its legal tender value. IL 1t not APP
parent that the demand for wool as = me-
come merely thing Of barter? Now. sup
pose further, that following the action OF
America, Germany. France. Italy and the
etize wool. IS 1t not apperent that it would
be the wise thing for them to do, since they
, must buy wool. as currency. and 1t thereby
cause no fixed value is given 1t by the fiat or
edict Of government. Let us suppose that
later in 1898 India, using many millions Of
pounds OF wool annually, should be closed
against it as money. is 1t not evident that a
further decline in price would be inevitable?
Is It not rather apparent that at every step
taken In the decreased demand for wool as
currency. a consequent increased demand
for hair must as currency result? The
struggle to secure it would become intense
volume not increasing with the increased
demand. it would become scarce and DEAR
about this time the cry is raised by for
est pounds. no dishonest 50 per cent wool.
only hair; hair; hair: sound hair; hair that
Is good in Europe. Bah! And to think that
wool should join the shouting Shylocks and
Shrek for hair, sound hair, honest hair
when the poor devils who have no hair to
sell must labor three 60 days for pound Of
(6) pounds Of it for a weeks work
If at the same time this depreciation in
IAC pIACS ol WOOl were gong On, ODSeTVe the
price Of wheat, corn, rye, oats. potatoes.
beef, pork, mutton, hay, land, labor, ETC.,
etc. were apparently gong down in price and
the fixed price Of S. 20 per pound, while wool
fell first to 1Sc, then l5c, 13c, 12c and finally
after the action Of India and the New York
would it not be fair to presume that the
little bundle of baled and cornered hair hon.
est hair sound hair, if you please, was hav-
that raised the wool, wheat. potatoes and
beef and that held the land. furnished the
labor and owed the debts?
common people are being blinded with hair?
In other words with gold? Hair is by no
means as useful as wool. nor is gold 80 use
and the arts, but none of these should be
allowed to occupy the place of god or an
idol: Any one of these when monetized, or
the minds of men and becomes a fetish, an
idol. 1t is verify So Whereas they are
merely symbols Of the diviner. thing. the
namely, labor. and get their value from the
fiat or edict of government.
Now. a word about gold, and will close.
We, OF the United States, One-tWentieth of
the worlds population, produce $35, 955, 900
annually of gold, out Of the worlds product
Of $15O, 600, 600. about one-fourth. We are at
the close of 80 years of unparalleled peace,
with a mighty nation of great energy and
apparent increase Of wealth, and yet the
common people are becoming pauperized.
TENS. which, for quarter Of a century it
was claimed was making us the wealthiest
nation on the face Of the earth. 1 say in
spite of this we have become the great debt
or nation of the world, and. from the last
census we see that of every hundred fam
lilies in the United States. 66 are already
manning 16 are free Of debt The 16 Of course
hold the mortgages upon the Is and own the
homes occupied by the 6e, so that virtually
"a per cent OF our people are already rent
ers. See the able article In American Mag
azine of Civics." for January. 1895, by J. A.
900, 900 to Europe from the United States
of silver
The director Of the mint shows that the
1898, while we must pay $3.50, 900 900 Of interest
in gold on over 5000 millions of bonds held
against az "a n:n us in Europe How are we to pay
gold? About one-seventh enough, and if
silver were full standard money, 1t, together
with gold would yield but five-elevenths
enough yearly or less than one-half. Then
what. We would have to buy our coin
abroad. not $2l5. 200 as now. yearly. but
Then what? II would ease up the situa-
ton wonderfully. of course. but the Peo-
pies Parry propose to take the constitu-
tion at its word The constitution provides
money" and Lincoln did this during the
war, paper treasury certificates. Banks
now control the volume Of money, because
We propose that the government retain the
exclusive right to .'make and issue money!
to take away the bank issues and charters
as Andrew Jackson did. To remonetize the
While these conditions are so, the his
torian, John Clark Ridpath. in Arena"
says. 1--WE are the great debtor nation Of the
earth. owing more thatn forty-five millions
of dollars 045, ,0eo)." We are bonded for
over twenty thousand million dollars ($2O,-
600 000, 000). Who holds these bonds? One
fourth OF them are held abroad and three
fourths at home, mostly in the East. Our
assessed valuation only slightly exceeds
twenty-four thousand millions and our total
actual wealth, given by the United States
statisticians and, as stated, by the eloquent
and florid Chauncey NJ. Depew. is seventy
thousand million dollars; while Senator Till
man, in his speech on the floor of the United
States senate last winter, showed that LOCO
men in the United States own an average Of
So. 600 each, total exceeding twenty-four
thousand millions, or more than the assessed
valuation OF the whole country.
the Democratic party just now in conven-
ton at Chicago, Is struggling nightly with
the moneyed power. They have clear two