The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-16
SILVERITES URGED TO RISE
AND STRIKE DOWN "THIs CONsPfR-
ACY or GOLD AND MONOPOLY"
Rehash of Bryan Campaign Heresies
of 1896. aud Appeal for Union of All
Who Favor White Metal.

1
progress among the leaders of these parties
at the capital for the past few weeks, were
issued to-day. They seek to unite the mem
bers of the three parties in future elections
on the financial issue as the question of par
amount Importance and are separate appeals
to each of the parties to consolidate all
/ along the lines for this purpose The ad-
dress to Democrats is signed by Senator
James X. Jones, of Arkansas, chairman OF
the Democratic national committee, and Is
indorsed by the Democratic congressional
committee; that to the Populsts by Senator
Marion Butler, chairman OF the Populist
national committee and the twenty-five
other Populist members of the Senate and
House, and that Of the silver Republicans
/ by Chairman Charles A. Towne and the sill
Yer Republicans in the Senate and House.
and also by ex-senator Dubois. The Demo-
cratic address is as follows:
TO the People--The surrender of the Re-
| publican party to the advocates of the gold
standard and monopoly is at last complete.
| The present administration, called to power
(, on the solemn pledge of the Republican ma
/ tonal convention at st. Louis TO promote
| himetallism, has formulated and sent to
! Congress a bill the leading purpose OF
! which. the honorable secretary OF the treas
/ ury avows, is to commit the country more
:, thoroughly to the gold standard The coun-
! try has already for twenty-four years been
/ thoroughly committed to ghis standard,
! partly by law and partly by the usurpations
! OF the executive branch of the government,
/ that it's effects are seen and felt on every
! hand-wages are reduced work Is harder
| to get the weight of debt is doubled. the
| value of land and otker property is reduced
! one-half or more-until the lives of the pe0-
| pie are bitter with hard bondage 1t Is
certainly not in the interest of humanity
| to have this condition of things more thor
| oughly established.
The continued rise in the value of gold,
or which is the same thing. the continued
! fall of prices must inevitably transfer the
/ property of all those engaged in active
! business, the actual creators of wealth,
whether by hand brain or capital. to those
who, avoiding the risk and effort OF active
business, only draw interest. The increase
| of 145 per cent. in the value of money,
caused by its increasing scarcity, from lS0e
to 1S49, as admitted by leading advocates Of
! the gold standard, found expression at that
| time in extremely low prices and conditions
! of unparalleled distress The discovery Of
| gold and silver in extraordinary quantities
| and the great increase in the volume of
metallic money resulting therefrom relieved
| this distress and brought in its stead won-
derful prosperity. Prices rose, business
fourished, producers prospered, all were
| happy.
THE CRIME OF 49,
substantially this condition would have
continued if both the precious metals had
been allowed to remain in use as money,
because they were being found in nearly
| sufficient quantities to increase the volume
| afa
of business. A wicked conspiracy, how
| ever. deprived one of them OF the money
function. This was done with the deliberate
purpose of raising the value of the other
by rendering the supply of metallic money
relatively scarcer as compared with the de-
| mand From the hour of the consumma-
/ tion of this crime mankind has suffered
! commercial disaster and social distress in
almost constantly increasing measure, Just
in proportion to the growth Of arts and
civilization and the expansion of commerce,
business and industry, the inadequacy or
| the volume of gold is felt, it's scarcity -
emphasized. it's value increased.
.',The repression of life and happiness
which is inseparable from long course of
declining prices, has now checked develop
ment, and, If continued. will ultimately
stihe civilization. An eminent American,
President Andrews, of Brown University,
some years ago, said: Our national debt on
Sept l. 1866. was two and three-quarter bill
/ lions 1t could then have been paid Of with
eighteen million bales Of cotton or twenty
/ five million tons of bar iron. When 1t bad
been reduced to a billion and quarter,
! thirty million bales OF cotton, or thIrty-two
million tons of iron would have been re-
qured to pay 1t. In other words, while
/ loIp of ah F4ar bud
| taken place in the debt, it had as measured
in either of these two world staples ac-
1 tually been enlarged by some 50 per cent.
although more than half the principal OK
/ this enormous debt and every cent of ac-
curnulated interest had been paid by tho
labor of the United States, the holders cf
the bonds still held a claim for more OF tf.o
| labor of the people than they held before
| these enormous payments had been even
/ begun. This cruel confscaton Of the lives
| and liberty of the laboring millions OF this
country Is the most stupendous crime that
| has been committed in the annals Of civil
| ization. Unless a government of the peo-
pie, by the people. and for the people has
! pershed from the earth, surely the present
| boldly avowed scheme, not only to con-
| tinue, but TO increase these evils win not
| be permitted In addition to this purpose
/ OF more lhofouSufy establishing the gold
standard. the plan of the administration is
to retire the paper money of the govern
ment, TO issue gold bonds and 10 increase
the power, privileges and profits o. national
! banks.
CAGES NATIONAL BANK SCHEME.
THE retirement Of the government paper
money must reduce the volume Of circuga-
| tion, and, while the secretary admits that
the contraction Of the. currency would be
| more ruinoas in two years than interest on
like amount Of bonds for forty years
would be. he calmly informs us that the
national banks will probably issue a suf-
ficient amount of money to prevent this
enormous suffering. The national banks
are not to be required 20 redeem their notes
in gold. but II Is arranged that the United
| States government shall do 81 on demand:
and, after having done SO, the government
must be content to have the national baska
reimburse it in any kind OF legal~tendey