People's Pilot, Volume 3, Number 33, Rensselaer, Jasper County, 2 February 1894 — Demands the Pound of Flesh. [ARTICLE]

Demands the Pound of Flesh.

The repeal of the purchasing clause' of the Sherman act destroys silver as money of ultimate redemption and reduces that metal to credit money to float only by redemption in gold. The $1,100,000,030 of paper and silver now in circulation must rest upon less than $100,000,000 of gold in the treasury available for redemption. The only reason for demonetizing silver was to enhance the value -of gold and obligations payable in money, It is further proposed to sell bonds of the Ufiited States and buj’ gold to strengthen the reserves in the treasury. National banks will use the bonds for banking, purposes and issue their notes upon which the people must nay interest, as well as on the' bonds. The banks will continue to usurp the power of the government to issue money together with the power to expand and contract the volume of circulation to aid the speculations of gamblers in other people’s property. —Congressional Silver Committee’s Address. , .