The advocate., 1891-07-29

debt increased to retire greenbacks and
furnish bonds to enable the national banks
to supply bank notes to take the place of
greenbacks!
The people think that the national banks
had special privileges when they could in
vest money in bonds, draw interest from
the government on the entire investment,
and receive in addition to such interest so
per cent. of the money 80 invested, to loan to
the people at high rates of interest. If an
increase of national circulation is your
method of furnishing more money, you
may as well abandon the idea. The people
will not submit to it.
The assertion that this country cannot
coin silver and use it as money without the
consent of Europe implies that the power
conferred by the constitution to coin money
has been surrendered to foreigners. There
is no fear of getting too much metallic
money. No country ever had too much of
either gold or silver coin.
You are opposed, as understand you, to
issuing legal tender fat money. You are
also opposed to making silver standard
money. You cannot increase the national
bank circulation. If you have no other
plan, the farmers of Ohio ought not to be
blamed for attempting to devise some
means of increasing the volume of ciroula-
tiOn and supplying themselves with the
money necessary to save themselves from
ruin and bankruptcy. It is certainly COM
mendable, Mr.. Sherman, for you to frankly
and firmly state your views to your
constituents. I should not have taken
the liberty of addressing you if you had ex-
ercised less freedom in your reflections
upon the people whom in part represent.
The people of the mining regions are un-
selfish enough to consider the good of the
entire country. They do not manufacture,
but they are large consumers of imports
from foreign countries. Yet they willingly
submit to the imposition of high tariff du-
ties upon such imports in the belief that it
will in the end inure to the general good.
You know that the Senators from Nevada
have never failed to stand by the industries
of the east and vote for high protective
tariffs. Why should the benefciaries of the
tariff, after having impoverished the min
ing region by ruinOus legislation, demone-
tizing silver, hold the people of that section
as greedy and unscrupulous dependents
upon the nations bounty, clamoring for
special and unreasonable bounties and
privileges?
No, Mr.. Sherman, there is no difference
in the interests of the producing classes of
this country wherever located, east, west,
north or south. There is but one class Of
men living in the United States whose in
terests are adverse to the producer. They
are the persons who are loaning and col
lecting money largely on foreign account.
They live in the commercial centres. They
WELD more influence than thousand times
their number engaged in other employ
ments. Their interest and ambition prompt
them to do all in their power to enhance
the profits of their patrons and employers
on the other side of the Atlantic. Those
patrons and employers desire money of the
greatest possible purchasing power. The
money is theirs. They desire to enhance it's
value. Their representatives in the United
States voice their sentiment and insist upon
the gold standard and contraction.
Your letter is well calculated to give aid
and comfort to the rich, whose wealth has
been enormously augmented by the en-
HANGED value of money. Your influence in
shaping the legislation of Congress on the
money question surpasses all others. If