The Louisiana populist., 1898-02-25


of the volume of gold is felt, it
scarcity is emphasized, its valu
increased.
The repression of life and hap
piuess, which is inseparabIe from
a long course Of declining prices
has now checked its development
and if continued will ultimatel,
stlhe civilization. An eminen
American, President Andrews O.
Brown University, some years ag<
said: "Our national debt on Sep
tember I, 1865, was two and three
quarter billions, it could then have
been paid off with eight miiIior
bales OF cotton, or 25,000;O00 tons
Of bar iron. When it had beer
reduced to a billion and a quarter
thirty million bales of cotton OF
100000 tons Of iron would have
been required to pay it. In other
words, while a nominal shrinkage
of about 55 per cent had taken
place in the debt, it had, as meas.
ured in either of these two world
staples, actually been enlarged by
some 80 per cent.
Although more than half the
principal of this enormous debt
and every cent of accumulated in
terest had been paid by the labor
of the United States, the holders
of the bonds still hold Il claim for
more of the labor of the people
than they held before these enor-
nous payments had even begun.
This cruel confscation of the lives
and liberties of the laboring mil
lions of this country is the most
stupendous crime that has been
committed in the annals of civili-
zation. Unless a government of
the people, by the people, and for
the people," has perished from the
earth, surely the present boldly
avowed scheme, not only to CON
tinue, bat to increase these evils,
will not be permitted. In addi-
ton to this purpose of moro thor
oughIy establishing the gold stand
ard, the plan of the administration
IS to retire the paper money of
the government to issue gold bonds
and to increase the power, privi-
leges and profits of national banks.
The retirement Of the govern
nent paper money must reduce
the volume of circulation and while
he secretary admits that the con-
traction of the currency would be
more ruinous in two years than in
crest on the like amount of bonds
sor forty years would be, be calm
y informs us, that the national
banks will probably issue suf-
icient amount of money to pre-
'ent this enormous suffering.
The national banks are not to be
'equired to redeem their notes in
gold, but it is arranged that the
United States government shall do
70 on demand; and after having
lone so, the government must be
content to have the national banks
o reimburse it in ''any kind of le-
.al tender money at the option of
he banks" We are frankly told
hat lawful money will be made
relatively scarcer than it is now,"
nd that it is intended that under
he operation Of the bill it will be
easier to get gold than lawful
Practically all Of the
money IN the hands OF the people,
low as the secretary distinctly ad-
nits, is silver, chiefly in the form
t silver certificates. The avow-
d purpose of the bill is to make
J hereafter more difficult to get
hese than gold.
After the bold declaration of the
in favor of the gold
tandard, no sincere bimetallist
an ever again, by his vote or by |
is influence, give aid or encur-
cement to the republican party. |
The issue is joined so we cannot |
void it if we would. Either the |
'iends Of bimetallism or the ad-
coates of the gold standard, trusts |
nd monopolies must succeed. !
no is not for us is against us. |
le are asking no man to abandon
is party Or change his politics;
9 ask no one to yield any princi-
leg; but in this contest we do ap-
BAL to all good men to stand solid
; together for liberty and hu-
anity and strike down forever
MS conspiracy of gold and monp-
y.
(SigneH JAS. X. JONES,
hartman Democratic National
Committee.