The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-02-01
A VALUABLE COMMUNICATE
me EVIL Effects Of the Single Gold
standard on the Farmer and the
Manufacturer

Standard on the Farmer and the
Manufacturer.
SALTWATER, Mimi. JAM 2e.-Editor of
the Representative, Minneapolis, MINI.
Dear s1r:-I find by talking with unbiased
men that there seems to be almost uni
versal demand for a change In existing
conditions. Neither the manufacturer the
merchant the farmer or the laborer can
see any difference between McKinley's pros
pJerity and Cleveland's depression, They
cannot see as 1t makes any particular diff
ference TO them whether the tariff is a few
cents lower or a few cents higher; the prof
its OF Industry are eaten up by trusts and
corporations. leaving many of our farmers
and laborers with insufficient food and
tattered clothing to SILVER over an almost
fireless crate.
1hey can see now. As they never saw be-
fore, that legislation is not in the interest of
the masses, but for the classes and that
1t makes no difference whether the Repub-
llcans or the Democrats hold the Offices
the same power rules That being true,
does it not occur to you that a change is
absolutely necessary to relieve the pro-
ducers and consumers of the unjust burdens
that have been forced upon them by vicious
legislation during the past 30 odd years?
High tariff and low tariff having utterly
failed of their purpose, is it not time that
the American people tried tie only true rem
system?
We have been told that we are a govern
ment Of for and by the people, If that is
so, then l believe. II there is anything to be
made out of the issuing of money it should
be enjoyed by all the people, and not by
few national banking corporations
A national bank note costs the people Of
this republic at least 10 per cent per annum
to keep it in circulation. All the people
pay four per cent on the bonds deposited
in the United States treasury to secure their
notes which circulate as money. The man.
ufacturer, the jobber and the merchant
that borrows the bank note over the bank
counter pays from SIX to eight per cent
for 80 dayS-a system that compounds the
interest four times per anrum, which equals
almost nine per cent per auunm which
added to the four per cent on the bonds
makes 13 per cent per annum to keep the
notes into circulation; and then the note is
only borrowed, and must be returned TO the
bank by some one.
And this is tn. banking system the Re-
publican party gave to us 80 years ago.
The money power has howled itself hoarse
eulogizing it the best banking system
in the world, a system that has forced nine
out of 10 Of our business men into bank
ruptcy and has brought universal distress
upon the wealth producers Of our coun-
try.
It has taken $40. 900 900, 900 of wealth from
those that created it and concentrated it
into the Hands and possession of less than
100000 men who are non-producers.
In addition to this, according to Mr..
Walker. member Of congress from Mas
sachusetts, it has placed a mortgage and
bonded debt upon our people Of s31 900, J0o, 00O
the interest alone absorbs the profits of
every industry in this union.
And still they are not satisfied.
They passed the contraction act that de-
stroyed our compound interest notes. our
seven Dos, five Dos, and helped to de-
monetize our silver and now they want to
destroy the few United States treasury
notes and greenbacks that are still in cir
culation. so that they may issue, own and
control every dollar that is to do the vast
exchange business of this republic and thus
compel every individual directly or indi-
rectly to pay tribute to them greater than
the profit of any industry, thus concentrat-
ing the wealth of this great nation into
few hands who will it to corrupt leg
isiators and buy the public press that
monlds public opinion and thus make it i'm
possible to change existing conditions
My dear sir, are you going to allow them
to do 1t without a protest? Or are YOU
going to align yourself with the brave