The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1889-12-12
The Presidents Message.


This lengthy document appears in
full in the PLAIN DEALER this week,
rather late. but the fact is it was too
weak to get around sooner.
We have carefully read it through
and are compelled to say that it does
not contain single recommendation
which Is not in the interest Of capital
and against labor
In the interest Of capital and Wall
Street the president accepts and rec
omends the scheme Of the Secretary
OF the treasury, to practically de-
monetize silver by eliminating it from
the coinage as was done by trick in
1873, in emitting it from the coinage
and substituting the trade dollar.
To make the bullion in the silver
dollar worth a dollar but one thing Is
needed that its coinage into standard
silver dollars be absolutely free. Now
the product is about twice the am
cunt of the coinage, the surplus con-
trolling and fixing the price Of the
entire product, just as the surplus
wheat Of the country fixes the price
upon the crop offered for the market.
To prevent its accumulation in the
treasury it is only necessary to ex-
change coin for bullion suitable for
coinage. dollar for dollar, and instead
of its numbering the vaults of the
treasury it would be employing and
paying labor in creating and adding
to the wealth Of the country, and also
adding to the use and consumption
OF the products of labor by giving the
laborers the means to purchase and
use the products of their own creation.
The president and his secretary Of
the treasury virtually ask to give
the money lenders of Wall Street
power to determine the amount Of
money which may be put in circula-
ton and use among the people. This
they adjust, always in the interest of
change alley knowing. that prices Of
labor and upon all its products is
absolutely fixed by the money in use,
the trusts and combinations formed
by capital entirely ignoring the fac
tors of supply and demand.
Wall Street has dominated the
financial policy OF every administra-
tion since the election OF president
Grant, and it is still Wall Street
against the public welfare that presi-
dent Harrison commends to congress.
A law passed during the administra-
ton of president Lincoln, authoriz-
ing the deposit Of public money in
national banks for the legitimate
business Of the government, has been
and is perverted in the interest OF
Wall Street, until now the entire sur
plus is given to the national banks
free to use, and their income from
this source during the administration
of Mr.. Hair ison has exceeded $12,.
100000. This twelve million dollars
has been burden put upon the in.
dustry of the country to obtain the
use of money drawn from them by
unjust tax-burdens, to pay to Wall
Street the interest upon bonds which
the government should use the sur.
plus to pay of at their face, as it has
the lawful right to do, instead of pay.
ing premium on them.
One Of the functions of government
and the most important one, is the
creation of money. This sovereign
power confided exclusively to the
government, should be used exclus
ivly by it and solely in the interest OF
the people, instead Us now, farmed
out to the national banks and b,
them used as u means to plumber tn,
public.
Unless this policy is changed tn,
laboring men of America may res
assured that the rich heritage be
queathed them by the fathers of tn,
republic will pass into the hands o
corporate combinations of capital
transforming the republic into al
oligarchy.