The representative., 1900-10-11

hero worshipers and take their opinion
like they do their clothes, ready made.
And this brings us back to the original
proposition that every man should b.
able to give a reason for the faith that
is in him.
1t is the special request of our Ma
tional Chairman, Hon. 10. A. Parker
that in this speech I explain the po-
sition of the Peoples party on the
money question. This is a pleasant
duty with me. had the. pleasure Of
writing the money plank in our ma
tional platform. If there is any princi-
pie in political economy that ought
to understand it is the money ques-
tion. have studied it for Is years.
l have examined it from every stand
point from which it has been treated
and knowing that more than 95 per
cent of the business transactions in
this country are made with simply a
representation in value, paper money
and bank checks, fail to see one single
reason why the remaining transactions
can not be made in the same way, a
scientific paper money Representative
Of value) instituted, and commodity
money dispensed with entirely.
First, let me read to you what the
Peoples party platform says on the
money question::
"A scientific and absolute power
money, based upon the entire wealth
and population Of the nation, not re-
deemable in any specific commodity,
but made full legal tender for all
debts and receivable for all taxes and
public duties, and issued by the gov
ernment only, without the Intervention
of banks, and in sufficient quantity to
meet the demands of commerce, is the
best currency that can be devised; but,
until such financial system is secured,
which we shall press for adoption, we
favor the free and unlimited coinage
of both silver and gold at the ratio
of 16 to L.
No party ever made more specific
declaration on any proposition than
that. Every sentence carries with it a
grand idea.
An absolute paper money based upon
the entire wealth of the nation; not
redeemable in any specific commodity
A full legal tender for all debts and
receivable for all taxes and public dues
Issued by the government only.
Without the Intervention of banks.
In sufficient quantities to meet the de-
mands of commerce.
Gold and. silver only until we can
secure such money.
My friends, did you ever know of any
thing. being stated more explicitly?
On that plank man who has stud
led the money question can stand
against the world. On that PROPOSE
ton 1 made a canvass of the state Of
Arkansas, as the candidate of the Peo-
ple's party for governor, and in the 80
joint discussions neither the Republican
AOA 4<01AVV1 0I&C C0AOA00SCo SOOA A0Su0
with me.
All the genuine Populists contend that
the most important part of the money
question is the right, power and duty Of
the government to issue fat, absolute pa
per money. On this proposition the
Populists stand alone and the Demo-
Gratis stand with the Republicans op-
posed to it. both favoring coin re-
demption money. Now, what is that
money? Gold money is fiat, and so Is
silver money. In fact, all money Is
fiat, and if any man will bring me a
dollar of money that is not fiat, Ill
eat it and pay him Ave dollars be-
sides. But what they object to is what
they call an irredeemable paper money,
and the Chicago platform calls for the
redemption OF all paper money in coin.
Now why they want 1t redeemed Gin
coin" they never can tell-or, to say the
least, they never will tell. Why not
redeem 1t in wheat or cotton, or both?
We produce more wheat and cotton
than we do Of gold and silver, and a
money based upon those two commod-
tiles would have . safer and surer
foundation than when based upon sill
yer or gold. But why should we spe-
cifically base it on any one or two
thipgs! The Republicans want to make
paper money redeemable In gold only
or. at least, give the holder the optton