Daily press. [volume] (Newport News, Va.) 1896-current, 1898-02-16
SILVER FORCES UNITE
Three Parties Combine on the
Financial Issue.
ADDRESS TO DEMOCRATS
Chairman Jones Denounces the Policy of
Secretary Gage ITO Commit the
Country More Thoroughly TO
the Gold Standard.
(BN Telegraph.l

!
leaders of these parties at the capitol
| Tor the past few weeks, were issued to-
| day They seek to unite the mem bers
of the three parties in future elections
| upon the financial issue as the question
Iof paramount Importance, and are sep
arate appeals to each of the parties to
consolidate all along the lines for this
| purpose. The address to Democrats is
| signed by Senator James X. Jones, of
| Arkansas. chairman of the Democratic
National COMMITTEES, and is endorsed by
| the Democratic Congressional commit i
tee: that to the Populists by Senator
Marion F. Butler chairman of the Pop
| ulist National Committee. and twenty
| five other PopuliSt members of the SEN
ate and House. and that to the silver
! Republicans by Chairman Towne. and
| the silver Republicans in the Senate
and House. and also by ex-senator Du-
bos.
The Democratic address is as follows:
ITO the people: The surrender of the
Republican party to the advocates Of
the gold standard and monopoly is at
last complete. The present administra-
ton, called to power upon the solemn
pledge of the Republican national con-
vention, at St. Louis, to promote hi
metallism, has formulated and sent 20
Congress a bill, the leading purpose of
which, the honorable secretary of the
treasury avowS. is Ito commit the
country more thoroughly to the gold
Standard
The country has already, for "a years,
been so thoroughly committed to this
Standard partly by law and partly by
| tlS 'lsuEtations of the executive branch
or the SoNefnnn&rtt, that its effects are
seen and felt on every hand: wages are
rsE1uced. work is harder To get: the
| weight of debt is doubled: the varua o,r
| land and other property is reduced one
half or more Until the lives of the peo-
Pile are 'unade bitter with hard bond
age"
1t is certainly not in the interest of
humanity to have this condition of
things NOR thoroughly established
The continued rise in the value of
gold or. which is the same thing. the
continued tall of prices. must inevita-
bly, transfer tbs property of al those en-
gagged in active business, the actual ere
q tors of wealth. whether by hand, brain
or capital to those Who, avoiding the
risk and efforts or active business, only
draw interest
The increase of lao per cent. in the
| value OF money. caused by its increasing
| scarcity, from 1909 to 1919, as adm! tied
! by Leading advocates of the gold stand
| ard, found expression at that tim. ir
extremely low prices and conditions
of unpara :leled depression. The t.kscov-
| cry ct goE and silver in eXtraoriinary
Quantities. and the great increase in the
volume tf metallic money resulting
| JEerefrom, relieved this distress and
drought in its stead wonderful prosper
ity. Prices rose, business iouris he'd,
producers prCSpered. al We're happy
Su'Hs tantially this condition would have
continuei-. if both the precious metals
had been allowed to remain in use as
money. because they were being found
| IN nS,lrly sufficient quantities to in
crease the Volume OF money in proper
| ton To- the develop ;nent Of business A
| wicket cons piracy. however. deprived
| one of them of the money function.
| This Was done with the deliberate pur-
| pos o. ra sing the value OF the other Ivy
| rendering The supply of metallic money
| relatively Scarcer Us compared with the
| demand From the hour cf tn consum
| nation or this crime mankind has suf-
| Tered commercial disaster anil social d s.
| tfess IN almost constantly increasing
measure Just in proportion to tbs
| growth OF arts and civilization and tn
| expansion of commerce. business and
industry, tie inasequacy eff the yo,ure
| or gold is felt. its scarcity is emphc :
sized its value increased.
| me repression Of life and happiness,
| Whlch Is lnSeparable from 4 long course
! or declining prices. has now checked de-
vefopments and. if continuei,l will u.ti-
mately stItls civilization. As On emf
| nent American, President Andrews, of
Brown University, some years ago.
said:
Our Our national dybt en- September /,
| 1900, was two and three-quarter billions
| It cculd then have been paid off with
| eighteen million bales or cotton, or
| Twenty-Five anillioE tons of bar iron
Whsn it had heen reduced to a billion
and quarter. thirty million bales OF
:Gtton. or tnirty-two million tons OF
| ron would have been required to paw
1t. In other words, while nominal
| shrlnkage eff about 50 per cent has
| taken p acG in the debt. it had, as meas
| ured ine.th%r Of these two world staples
| actuafly BEEN enlarged by some so per
| cent"
| Although more than half the principle
| or this enormous debt and every cent OF
accumulated interest had been paid by
| ths. labor of the United States, the hold
| ers OF the bonds still! hold a clam FOR
| more OF the labo-' of the people tn,r
they held before these enormous ply.
Tents had beer even begun. This cru.a
| cHniiSca'ion or the lives ami liberty of
| me laoorlng millions of this country is
| the most stupendous crime tina. sas
been committed in the annals of civil
| eaton. u:tess a government "of n.
peopi5. by the people and for gne people
| mas lerish@d from the earth surely tn,
present boldly avowed scheme. rot only
| to continue. but to Increase these evils
WIFI not he permitted. In ediitiol II this
| purpose OF more thoroughly establish
| ing the god standard the plan of the
| ADMINISTRATION is to retire thu pap r
| money of the government. to issue gold
| bonds, and to increase the powe-, priv
| legs ani-i profits of national banks
Inc retirement of the government; pa
I per money must reduce the Noiun= OF
circu!a ;fc'l' Ind while the se,':tacy ad
| mlts that the contraction of the currer-
| ~ would be more runous in 'Wo years
| than interest on like amount OF bonds
! Tor forty years wcu!d be, he calmly in
forms us that the national hanks wiz
| probably issue a sufficient amount ri
money to prevent this enormous suffer
ing.
The national banks are not to he 1e-
quf:ei to redeem their notes in gold. but
1t is arranged that the United States
government shall do so on demand, anG
after having done so the government
must be content TO hive the nationa
banks reimburse 1t In amy kini> OF laga
tender money, at the option of tn,
banks"
We are frankly told that the Lawful