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does not have a hand off, or fingers off, or a foot off, or is not maimed in some way, and we have had produced here proof of the startling number killed. Now, I ask, Mr. Speaker, does it not appeal to us, who are members of the only body which can give this relief, because the States are powerless-does it not appeal to us and to our humanity to pass such laws as will give protection to the lives and limbs of these people?”—Page 1981, vol. 24, part 3, Cong. Rec., Fifty-second Congress, Second Session. Feb. 21, 1893.
LABORS' MEMORIAL FOR FREE SILVER.
To the Members of Organized Labor and all other Producers and Toilers
throughout the United States: In view of the general distress now prevailing throughout our country, which has existed for so many years, and which will continue until remedial legislation is enacted—and all this occurring, too, at a time when our granaries are full to repletion, and when, in the natural order of things, our producers and toilers should be enjoying to the full the fruits of their hard and conscientious labors-it seems to us that the time has come for united action on the part of those who create the wealth of the country.
The respective demands and platforms of principles of our several organizations set forth our opinions as to the causes that have brought about this condition of things. Inasmuch as the leading representatives and friends of all our organizations have placed one of the causes of the tribulations of our beloved Republic to the departure of our Government from the wise bimetallic financial policy of Washington, Jefferson, and Hamilton, and the substitution therefor of the present monometallic policy recommended by European money owners, and advocated by their American allies, we, the undersigned officers of industrial, agricultural, and commercial organizations have thought it best, at this particular time, to submit for your careful consideration a synopsis of the legislation, respecting the precious metals, enacted in this country since the foundation of this Government that you may judge for yourselves as to what portion of such legislation was enacted in the interest of the producing and what in the interest of non-producing classes, and as to whether or not the shrewd manipulators of our finances foresaw that the result of their work would be to largely help in the subjugation of the people. Whatever the object, certain it is that before the demonetization of silver and the enactment of other financial legislation which our organizations condemn, 3,500 bushels of wheat or 35,000 pounds of cotton was the annual pay for our Congressmen and Senators, while to-day 10,000 bushels of wheat or 100,000 pounds of cotton barely suffice. Before demonetization 35,000 bushels of wheat or 350,000 pounds of cotton per year would have paid the salary of the President; to-day he receives the equivalent of 100,000 bushels of wheat or 1,000,000 pounds of cotton. And in like proportion it is with all other fixed salaries and incomes.
Was such legislation just? Was it honest? Does it not necessarily follow that the demoralization of the food-producing sections of the country, through failure to procure reasonable prices for their products, causes the manufacturing sections to accumulate excessive stocks, and that, in consequence of a poor market, hundreds of thousands of operatives are thrown out of employment, thus robbing them of the power, even at the low prices, to purchase the necessaries of life?
Again, is it not obvious to every one that the striking down of one-half the world's volume of money makes the remaining half a comparatively easy matter for capitalists to control and inanipulate, and that toilers, to obtain money for the purchase of their food supplies, are placed entirely at the mercy of the foreign and American money-sharks, who, by contracting the currency, can force a panic or famine in money at their supreme will?
Would they be guilty of such a crime? We only say in reply, look at our present helpless condition. Does it not seem to you, in the light of the facts here given, that, where in the midst of plenty there is wide-spread suffering and unhappiness, there is considerable meat in the refrain from Wall street; “Dig on, ye toilers, dig; the legislative button that we press will do the rest!"
Precious-Metai Legislation. The first coinage law enacted under the Constitution, as recommended by Hamilton, concurred in by Jefferson, and approved by Washington, provided for the free and unlimited coinage of both gold and silver, the silver dollar containing 37114 grains of pure metal.
In 1837 the mint laws were revised, and the standard for both gold and silver was made nine-tenths fine; that is, nine-tenths pure metal and one part alloy, the number of pure silver grains to the dollar remaining unaltered, viz, 37114 grains.
This law established cur present ratio of 16 to 1.
In August, 1865, the public debt, which grew out of the war, reached its highest point, the debt, less cash in the Treasury, being $2,756,431,000. This debt was not payable in gold. No bonds or other governmental obligations were ever made specifically payable in gold. The interest on the bonds was made payable in coin, the greater portion of the principal of the original bonds in lawful money, and the refunding bonds in coin-not gold coin, but coin of either gold or silyer.
In 1869 the principal of the bonded debt was also made payable in coin.
In 1870 the standard of coin was by the refunding act nominated in the bond; that is to say, all the obligations of the United States were then declared payable in either gold or silver, of the present ratio, at the option, not of the bondbolders, but of the people of the United States.
All the acts passed since the close of the civil war, it will be observed, were in the interest of the biondholders and against that of the producers and toilers.
But it remained for the year 1973 to witness the crowning blow of all. u that year an innocent-appearing bill, entitled "An act revising the laws relative to the mint, assay offices, and coinage of the United States," was successfully smuggled through Congress.
The bill purposely omitted from the list of coins to be minted the silver dollar.
By that clandestine act, of which the people and the people's representatives were ignorant, and by the subsequent act of 1874, adopting the Revised Statutes, silver was demonetized and the world's volume of ultimate redemption money was reduced from about seven billions to three and onehalf billions.
In 1878, after the discovery of the crime of 1873, Congress passed what is known as the “Bland bill.” This bill was vetoed by President Hayes (John Sherman being Secretary of the Treasury), and Congress passed the bill over the veto. The act of 1878 added to our volume of money over 370,000,000 standard silver dollars.
In 1890 what is known as the “Sherman act” was passed as a substitute for the “Bland act” of 1878. This law further increased our volume of money over $150,000,000.
Under the Bland and Sherman laws over $500,000,000, or about $9 per capita, were added to our volume of money. As all reflecting men are agreed that the present distress is due to a scarcity of money, we must leave it to the imagination as to what would now be our condition if the gold-standard men had had their way and our present insufficient volume of money were half a billion dollars less.
The Sherman bill was adding over fifty millions a year to the money of the country when, in 1893, its repeal was imperiously demanded by European financiers through their American allies; and, although the people's representatives made one of the grandest efforts ever witnessed in behalf of the producers and toilers of our country, yet the power of the financial institutions of Europe was so great that our people were compelled to submit to temporary defeat.
Now, the question is: What do the tens of millions of victims in this country to the diabolical gold-standard policy of Lombard and Wall streets propose doing about it? Submit to subjugation, or demand in no uncertain tones the immediate restoration of silver as standard money? No! they will no longer submit to such injustice! And therefore we earnestly recommend the adoption of the following resolution:
"We demand of the present Congress the immediate return to the money of the Constitution as established by our fathers, by restoring the free and unlimited coinage of both gold and silver at the present ratio of 16 to 1, the coins of both metals to be equally full legal tender for all debts, public and private, as before the fraudulent demonetization of silver in 1873.
"We also condemn the increase of the national debt in time of peace and the use of interest-bearing bonds at any time.” Signed:
J. R. SOVEREIGN,
JOHN W. HAYES,
H. H. TRENOR,
P. J. McGUIRE,
P. M. ARTHUR,
C. A. ROBINSON,
FRANK P. SARGENT,
F. W. ARNOLD,
The Republicans propose a business men's campaign.
DEFINITION OF BUSINESS MEN. We say to you that you have made the definition of a business man too limited in its application. The man who is employed for wages is as much a business man as his employer; the attorney in a country town is as much a business man as the corporation counsel in a great metropolis; the merchant at the cross-roads store is as much a business man as the merchant of New York; the farmer who goes forth in the morning and toils all day—who begins in the spring and toils all summer-and who, by the application of brain and muscle to the natural resources of the country creates wealth, is as much a business man as the man who goes upon the board of trade and bets on the price of grain ; the miners who go down a thousand feet into the earth, or climb two thousand feet upon the cliffs and bring forth from their hiding places the precious metals to be poured into the channels of trade, are as much business men as the few financial magnates who, in a back room, corner the money of the world.”
(From Chicago speech of WM. J. BRYAN.) STATISTICS OF OCCUPATIONS. Total in all gainful occupations..
22,735,661 In Agriculture, Fisheries, and Mining.....
9,013,201 or 39.64 per cent. Iu Manufactures and Mehanical Industries
5,091,669 “ 22.40 In Domestic and Personal Service...
4,360,506 “ 19.18 In Trade and Transportation.
3,325,962 " 14.63 In Professional Service......
A few subdivisions of the above:
portation, Trust, and other companies....
8,449,948 or 37.38
611,417 " 2.67
0.34 60,150 0.26
0.17 0.13 0.13
A glance at the above figures is sufficient to show how radically different are the principles of the two political parties.
VIEWED FROM THE REPUBLICAN STANDPOINT, the few bankers and brokers, the few wholesale merchants, the few officials of trust, trade, transportation, and other corporations are the only genuine business men, and the millions engaged in agriculture and labor are of no account except as subjects for abusive cartoons.
VIEWED FROM THE DEMOCRATIC STANDPOINT, the members of the National, State, and local granges are as much business men as the members of the National and local boards of trade, and their votes count just as much. The mem. bers of the National and local labor organizations are as much business men as the members of the National and local bankers associations, and their votes count just as much. The locomotive engineer who, at the risk of his own life, saves the train from wreck is a far more useful business man than the stock gambler of Wall street, who accumulatés millions by wrecking the finances of railroads. And his vote counts ust as much.
In brief, the millions of farmers, producers, and laborers of all classes are as much business men as the few who live, thrive, and grow rich by trading in the product of labor.