The herald., 1896-07-25

people, and plutocracy has thereby been
enthroned upon the ruins of the democ-
racy. To restore the government in
tended by the fathers, and for the well
fare and prosperity of this and future
generations, we demand the establish
ment of an economic and financial sys-
tenn which shall make us masters of our
own affairs and Independent of Euro
pean control, by the adoption of the fol-
lowing declaration of principles:
FINANCE.
First-We demand a national money
safe and sound, issued by the general
government only, without the interven-
ton of banks of issue, to be full legal
tender for all debts, private and public;
a just, equitable and efficient means of
distribution direct to the people and
through the lawful disbursements of the
government.
Second-We demand the free and un-
restricted coinage of silver and gold at
the present legal ratio of 16 to 1, and
| without waiting for the consent of for
J eign nations.
Third-We demand the volume of cir
culating medium be speedily increased
to an amount sufficient to meet the de-
mands of the business and the popula-
ton of this country, and to restore the
just level of prices and labor and pro-
duction.
Fourth-We denounce the sale of
bonds and the increase of the public in
terest-bearing debt made by the pres
mt administration as unnecessary and
without authority of law, and we de-
nand that no more bonds be issued ex-
| cept by specific act of congress.
tifth-We demaad-stleh legislation as
VIII prevent the demonetization of law
iul money of the United States by pri-
vate contract
SiXth-We demand that the govern
nent in payment of its obligations shall
Use its option as to the kind of lawful
money in which they are to be paid. and
we denounce the present and preceding
administrations for surrandering this
option to the holders Of government OBJ
ISation on securities.
ON INCOME TAX
Seventh-We demand a graduated in
come tax, to the end that aggregated
wealth shall bear its just proportion of
taxation, and we regard the recent de-
clslon OF the supreme court relative to
the income tax law as misintepreta-
sion of the constitution and an invasion
of the rightful powers of congress over
the subject of taxa tion.
Eighth-We demand that postal saw
ings banks be established by the gov
eminent for the safe deposit of the saw
ings of the people and to facilitate ex-
change.
TRANSPORTATION.
First-Transporta being a means
of exchange and public necessity, the
government should own and operate the
railroads in the interest of the people on
non-partisan basis; to the end that all
may be accorded the same treatment in
transportation and that the tyranny and
political power now exercised by the
great railroad corporations, which re-
suit in the Impairment if not the de-
struction of the political rights and per-
sonal liberties of the citizen, may be de-
stroyed. Such ownership is to be ac-
NCiiPiiSICu III d manner con-
sistent with sound public policy.
Second-The interest of the United
States in the public highways built with
public moneys and the proceeds of ex-
tensive grants of land to the Pacific rail-
roads should never have been alienated.
mortgaged or sold but guarded and pro-
tected for the general welfare as pro-
vided by the laws organizing such rail-
roads
The foreclosure of existing liens of the
United States on these roads should at
once follow default in the payment
thereof by the debtor companies, and at
the foreclosure sales of said roads the
shall purchase the same if
1T becomes necessary to protect its in
terests or if they can be purchased at
reasonable price, and the government
shall operate said railroads as public !
highways for the benefit of the whole
people and not in the interest of the few,
under suitable provisions for protection
of life and property, giving to all the |
transportation interests equal privileges |
and equal rates for fares and freights.
Third-We denounce the present in |
famous schemes for refunding the said |
debts and demand that the laws now ap-
plicable thereto be executed and admin
istered according to their true intent and !
spirit
Fourth-The telegraph, like the post
office system, being a necessity for the
transmission of news, should be owned
and operated by the government in the
interest Of the people.
LAND
First-That true policy demands that