Daily capital journal. (Salem, Or.) 1896-1899, 1898-02-07
THE GOLD MONOPOLY.
Union Of Forces Is Demanded by the
People IN Oregon

People IN oregon
EDITOR JOURNAL.-Politicia and
Partisaus sometimes obscure and SUBJ
vert real issues for time but circum-
stances and conditions will Invariably
force them TO the front. Facts, Incl
dents, and conditions has forced the
considerations of these most potent
and vial propositions for the Ameri.
can people TO pass upon.
IL is this: Shall we maintain the
GCld Standard or shall we displace it
by bimetallism? The lines are per-
fectly plain, no one need go astray.
That the sooner this question is set
tied the better it will be for all, is
self-eYident. That 1t should be set
tied right no one will deny, and the
only way it ever will be settled is for
those who favor the Gold Standard, to
line up on one side and oppose blme-
tallism and those who favor bimetall
ism to line up against them and op-
pose the Gold Standard.
% Then after this question shall haYe
been settled and passed upon, other
matters of reform will. need the at
tention of the voters, but until this,
all absorbing topic is finally disposed
OF the attention OF the great mass of
the American people will constantly
and certainly be centered in the so
luton Of this the greatest proble IN
that ever civilization has been con
frontedwlth. For my part l am op-
posed TO the Gold Standard and am
in favor of Bfmetallism and / briefly
cite few reasons therefore. The
Gold Standard is a policy that will
produce lower prices, higher taxes,
less money and more bonds, each of
these things are detrimental to my
welfare. Bimetallism will promote
BETTER prices, more money. lower
taxes, aud no boLds. Each of these
Will be beneficial TO my welfare for
consequently / favor them. The gold
standard takes by fiat Of law value
and debts. This is injury to me
and l oppose it. Bimetallism will stop
the transfer of values from the hands
of the producers TO the pockets OF
plutOcracy and this Is good enough
for me.
The gold standard recognizes Just
one vocation, the art of loaning money.
Bimetallism recognizes that not only
have people right TO loan money but
that they also have right TO coin a
little too, consequently l am a bimet-
allist.
The gold standard nullifes the
Declaration OF Independence and sup.
ercedes the constitution, for IL assumes
that we cannOt have free coinage OF
silver without the consent OF EurOpe:
that we cannot use paper money with
out the consent OF corporations. Bimet-
allsm teaches that congress shall have
power to coin money and also to reg
ulate its value, aud that congress has
also the power TO issue paper
money and To do these things for
the country in the interest of its sup
pOrters and defenders, and also to do
10 independent of the protest OF for
elgn prince, ,poteutate, or sovereign of
Europe, or their Tory adherents, who
seek 10 do their bidding here. This
doctrine Is good enough for me, so |
am a blmetallist.
To prove the assertion | haye made |
| submit the following: Secretary
Gage is the financial head Of the Nc |
kinley ADMINISTRATION, he spoke for the |
n aud is authorized so 10 |
do. lie said before the banking and |
currency committee when laying be |
fore them his plan for currency re
form, as following: First, | desire to |
more permanently commit the cOun-
try To the gold standard, and his plan |
Is AS follows: To destroy S346, 600.
300 of greenbacks and substitute in
lereSt bearing gold bonds In their
place, to destroy 10000, 900 OF treasury |
notes and substitute interest being |
gold bonds In their place. To redeem |
100000, 900 silver dollars with gold. and |
issue gold interest bearing bonds TO
buy the gold.
This takes from the people the /
right To use nearly a 81, ,OOO, 200, 900 and /
forces them 10 pay interest on the |
same. At the rate OF 3 per cent il
would amount 10 per capita tax OF
more than 81 per year upon every man,
y oman aud child, in this land, and /
Jhis Is the gold standard.
Therefore say the gold standard
means lower prices, less money. more
bonds higher taxes. Now let US
see what the effect OF this Is. lst., it
Increases the value OF money, there
fore itenriches those whose wealth
consists principally OF money, there
fore the money owners favor II. 2nd. l