The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1873-04-30
Too Much Power for One Man

Ealle! FIR tl.ssl,sol"te power s.sssan
EantM& al annnIiation lfsi .YhoS
Epeu4sF ass1tilllsd to day It'll ssIun'
Efry: Dne.p aaF,tipg in liuston
|js sRtlowsE win larger powers than
kaa:lker kisr dHft III .;st lksteo,n.
drX Vince M6ysrld lSs sA.l.
Ithekty to tlssstrdnstfia1, commelciSl
agricultural. mechanical, banklnp-r
short, all the interests al tue copxrv
that have any relations witffK0ney o.
currency. On his breath hang, in
| greater or less degree, the welfare and
prosperity of forty millions Of people.
The power to make iu0Dey sch,ye o,
/, plentiful tn expand ar CONTRACT Tia
currency of the country TO increase
tie value Of the miseralle1ag tllasan.
.lertakcs to represent a dollar-ir, ha
pocket 1.-the. eitizsn. 81. dilute il to a
smaller measure still, rests all in Iis
caprice. sSpee,patTM rides famIps6l0S
the chances II liis tickle ~iil. sYslsss
rise and fall. Men are rich to day and
poor to-mnrrow as he may ,lictate.-
! The country liesat his feet. CMild,ilo
people sit down for one single though.
fml moment in front h the great sham,
Of this situation aud consider t 10 ANA,
ing possih,la,es Of power I'M the hand
of this ,ha,', with them own utter he'll
lessness. before him. there would sur.
~ bs a revolutions. No snelt power
over ali rhe monetary interests ofso
many millions was ever in. any age h.
trusted t" a single individual. lis
not III the possibilities nf human ,ls.
dom to administer such trnst wisly.
No man who ever lived could admins.
ter it honestly. There is not vitue
enough, ~ human nature to withsand
all tile i,inumenhle snh'lrtirs Of timp.
tatiun that must ass;il the hoitr If
such enormous power. The p,iIege
III tlthasiNg the rsiH wi,iclfs sas gn,e.
times been exercised by sovere,gsan and :
parliamrnfs was always guarht, with
the greatest jealousy. anu tie instances
in which it has been done a,e rekoned
landmarks Of national folly ali,lsrt up
as the warnings of history. Bit here
in this nineteenth ceytury, in tie midst
of what we boast us the hlghrt civil.
zatin,, wa cl"tle one man, OF rather
allow him to. clot1ies himself, with a
power.to det,asp the Currency r apple.
ciatr it at hiseWn sweet will ;and we
j hardly SO much an put una protest
f against i, while trade and-pmmerce
!, aud about everything except the actn.
al drawing of "nr breath are at his
:. mercy. Talk about the ts.,nnies and
/ despotish,s of the Old Wohl of the
suppression IF free thought aud free
speech, Of the absolute clilmlexer.
cised by tlesIMts over the salstHl and
Liberties of their subjects They ire
, hardly to be compared Nth the ire.
mendnns power of the Filanre Minis.
ter who holds between hs thumb and
finger the business interests Of a whole
continent. :.
f. 1t wax urged az an affection 70 the
, old United States Bank that il could
make money. cheap or dear at will, by
contraction or expansion st pitrer mon.
: ey. and this. it WAS SAID, gave it au i'm.
mrnSe political power e'at was dan.
, gerous III the extreme, 1t this power
was dangerous then, Wien tile r"nntry
. was small. population sparsr, aud bus
iness Iimilrd, what shall lie said of the
5 present CONDITION, when one man, in.
+ STEAD 'of"a corporation, controls nofe
absolutely the vastly extended business
!, interests of the com ry, and commerce
and trade depend entirely upon, the fiat
, Vt his viii '-ssC"npar;a witt. the pres.
t ent Secretary III tie Treasury aud his
9 power, the influence Of the old uulted
States Bank was as that 6fa pulling ID.
FAINT to a iull-grnwu person. :
I Is any demonstration needed Ut the
| terrible dangers to which we are mn.
mentaiiiy exposed by this, wild be:
, .st"wal "fantllorit.? W'tness Tie RI.
feet of this mans aetinD during the
: Presidential canvass, when, with no
| authority except what he himself az
I sumed-and, for that matter, niayut
any time assume again, diluted the
currency by expansion to the extentof
3 millions for political and partisan par.
t poses, and by that means contributed
largely !" the Representation in powerof
the Administrator. of which he was
part. Witness, 90, the fluctuations 10
!, our mnoey market for weeks psst, Che
Z uncertainty of all Legitimate trade and
, commerce, and HE consequent damage
TO the industr'aland business Interests
= Of the c"untry,. wilhtbe u,spwse Of f..
i ytrish and, Iihlieafthy specslatisa, all
r tending tts degrade honest Aagfsald
4 destroy public. ssliif 4ence. 4 The mis-
- 4, 1. s,sfii, k.A.asA al my de.