The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1884-05-29
Washington Correspondence.

WASHINGTON, d. c., May "a, 1884.
EDITOR PLAIN DEALER:
One Of the stalwart sheets OF the
republican party-the Chicago Inter
Ocean-prints the following in its
issue Of May 10th:
CALAMITY wELLER's MISCHIEF.
There has been q bill before the
house for some time to appropriate
fund 100000 for their entertain
ment (meanins the Siamese embas-
sy), but under the rules one obiec-
ton Is sufficient to prevent its con-
sideration, and Calamity" Weller,
OF Iowa, has taken it. upon himself
to make that objection.
mo appeals, no inducements. will
persuade him to let the bill go
through"
Good for Weller! Then again:
He is called Calamity Weller, be-
cause In his speeches he invariably
predicts that n great calamity will
overtake the country IL his theories
OF government are not followed"
The same day the news flashed
over the wires that Senator Sabin,
OF Minnesota the present chairman
Of the national republican commit
tee had failed with liabilities
amounting to $1,75O,OOO. This fail
ure Of the head Of the republican
party, had been preceded by the
breaking OF one OF their pet institu-
tion-the Marine National Bank OF
n. Y. City-and the failure OF the
"would like to be president for life
U. s. Grant"-who lost nearly q mil
lion dollars in specializing with 9TH
er peoples money.
Immediately after these failures
had occurred, the cry went up from
the dens OF Wall street-"Stop the
panic! Prevent contraction OF the
currency! Pass the Mcpherson and
the Dingley bill! Help the banksw
Both in the senate and the house,
the agents Of that monster known
rs the National Banking System,
argued that to prevent q con-
traction OF the currency, and Il gen.
eral panic, congress must allow the
national banks to initiate their credit.
The same arguments that have
been made by currency reformers
during the past ten years, are now
taken up by the advocates OF the
banks on the floor OF congress,
namely:
IA contraction OF the volume OF
money will lower prices and produce
q panic. A proper imitation OF the
currency, In proportion to the in.
crease OF population and business,
will prevent fall in prices and con-
sequently prevent panic"
The difference between cur
rency reformers and national bank
advocates, has come down to this
"The former demand that the gen.
eral government shall use its consti.
tutional power to issue all money
aud make the same legal tender
for all debts, public and private
and regulate the volume OF money
for the general welfare Of the whole
people" The latter demand: THAT
the government shall have power to
make gold and silver-some say only
gold-legal tender for the paymen,
OF debts, and allow the national
banks to issue all the paper curren.
cy Of the county-and say how much
or how little the people OF the United
States shall have to transact the
business OF the country"
All political parties now agree
shat q contraction Of the volume oil
money always produces q panic.'
Congressman Weller. and all who
know anything Of financial economy
| SAID SO years ago.
There will be . panic il no pro.
vision is made to prevent 4 relative
contraction OF the volume oil
money" says Dingley, of Maine, in
the house, and Mcpherson, of New
Jersey. in the senate. "That's true
says Congressman Weller, and every
other currency reformer.
ALLOW the national banks $4O,-
OOO, 900 more on their bords; increase
their credit-so they may aid? the
paralyzed business interests OF the
country????" says the advocate OF
the national banks.
PAY the bonded debt, issue treas.
uIy notes in place of bank notes,
save the interest on the bonds, issue
sufficient money Oreasury notes.
to supply the demands OF the coun-
try, make every kind of money equal
before the law, legal tender for
all debts, public and private, issued
directly by the government, as pro-
vided by the constitution OF the
U. ST." says Congressman Weller,
and every other anti-monopolist, and
lover OF liberty, in, and outside OF
congress.
And, because the noble represen-
tative from the 4th Iowa district,
stands by, labors for-nay fights for
the interest OF what these high
toned gentlemen term 1.-The Common
Peopler because he objects to every
steal and class Legislation in the in
terest Of rich monopolists and soul.
less corporations, because he is the
true servant Of the People, every
hireling OF the confederate monopo.
lies. is striving to belittle misranre