The advocate., 1890-06-04
TOPEKA, KANSAS, WEDNESDAY, JUNE 4, 1890.

claim " the government, IN the hands Oi con.
gresg, lS direct and specific on the banks VI the
United states, including the gold ana silver In
their vaults on commerce. on oil Kinds NJ pro-
ductl0n and business on railroads, steamboats,
ana their passengers, on gAa COmpanleBi on
manufacturing companies OF all kinds In short
all rcnl and personal estate Of every kind In held
subject tO tile payment Of the treasury notes and
bonds issued by the government.
Congress is clothed with thls mighty power 20
sustain the nation nj this time, AT governments
fix the value Of gold and silver, and without the
government stamp gold would DO "A simple COM
modify, like MI other things having Intrinsic
value Some governments ilx the value Of coin
higher and some lower, Just M each for Itself
Nh0uld he stamped, and ts pdllW regulated bB all
the governments NJ the WOrld, WOuld pdSs equally
lCcH IN dH commercial transactions, With gOld
and WlrCr, although not tui'tn8tcdliU az valuable
EXChGQuer bills or treasury notes, iDhOs6 value
IN hred bB gOpcrumfW dnd Stamped dA m0neB
WOtId pass an mOncB IN the payment NJ debts
Wtbm NE itrsdiCtiW NJ me g0pciHmom Grtlg
such rdltC,
Congress may decide whether II win authorize
the secretary Of the treasury 90 issue demand
treasury notes. and make them legal tender In
the payment Ol debts, on whether II will put or
per cent bonds on the market NJ TjllnOus rates
Of discount, and raise the money NJ any NlerlhCe
the money lender may require, 10 ltledt the brnss-
the government will be able ~ pay its debts no
fair rates Of Interest I'm the other u must go Into
the streets shlnnlng for the means, like an lndl-
yidual In falling circumstances, and sure Of being
used up In the end by the ayarce OF those who
may exact unreasonable terms, But, sir, know
Ing the power Of money and the disposition
among men 10 use II for acquisition NJ greater
gain, am unwilling that this government, with
MI It's immense power Aud resources, should Do
left In the hands Of any class Of men, bankers or
money lenders, however respectable and patrl-
OtC they may be. The government ls much
stronger than any of them. lts capital il much
greater. * has control Of nl the bankers money
and all the brokers, money and oil the property
OF all the thirty millions Of people under ts jur.
isdICtiOn Why then, should Il 20 into Wall
street. State street, Chestnut street. or any other
street, begging for money! Their money IN not
M secure rs government money ALLTliE GOLD
THEY POSSESS COULD NOT GARRY ON THE
GOVERNMENT NINETY DAYS. They Issue only
promises to pay, which n congress does lts duty,
are not half ns secure as treasury notes based
upon adequate taxation upon all the property Of
the country.
Why, then, go into the streets at all 10 borrow
money! am opposed, In our present extremity,
10 all shifts Of this kind I prefer 10 assert the
power and dignity Of the government, by the
Issue OF ltS own notes, pedging the faith, the
honor and property OF the whole loyal people Of
the country 10 maintain their circulation and
provide for their redemption. The demand notes
genCles Of the government In the discharge Of
KS existing liabilities tO the army navy and con-
tractors, and for supplies, materials and munl-
tOns Of war. These notes would ilnd their way
into all channels OF trade among the people.
These circulating notes In the hands VI the
people would enable them 10 pay the taxes I'M
posed, and would facilitate NIL business opera
tl0ns between farmers, mechanics, commercial
business men and banks, and be equally aa good
as and, and I'm many eases, better than the pres
ent irrGdeemablo circulation by the banks. The
British government and the Bank Of England re-
malned under suspension from 1897 10 ls2i-2-a
period Of twenty-five years. During this time
England successfully resisted the Imperial power
Ot the Emperor Napoleon, and preserved her
own lmperiled existence. During an this time
the people Of Great Britain advanced In wealth,
population and resources GOld II not az pdl
udbiC az Lle productions NJ the farmer and me-
ChdniC, for u il not az indspensible-ds fond and
TdimcHL
We have quoted the above extract from
the speech Of Mr.. Spaulding for two
reasons:
First Because II contains lot Of good
alliance doctrine; and,
Second-To show the position Of the
republican party at that time on ques-