The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1892-10-28


market whenever they please and one
which enables them to "bull" the
market whenever they please. They
can contrachthe currency when they
see fit; apd in this way they can con-
thOl. tfie9yalus, ofever3qay's labor and
of aevepg Aproduct in this county.
IApplause.1 say il is the climax OF
fniquity in legislation that great
government like ours, of 47,OOO,OOO
peCpIe-soon to have 100000, OOO-
should say that for all time we Will
never issue another dollar OF legal
tender paper nor remonetize silver;
that the national banks for all time to
come shall have absolute control OF
the volume of the currency OF this
country, and hence over the destiny OF
our people. | call on the people
everywhere to arise and in their might
and strength shake of this incubus.
[Appllause. -,
IThe law has been slightly modified
since this speech was delivered. They
can retire only $3,OO0,O00 Of their cir
culation per month, of $36, 100000 per
year. But the right to 20 into liquid
alton and thus retire their whole cir
culation, i. g.. the whole circulation
of any bank, or all banks, still exists.
Ed
Suppose that this were national
convention assembled to frame II con-
stitution; that all the articles had been
framed, and it only remained to pro-
vide who should issue the currency OF
the country and control its volume.
And suppose my friend from Michigan
should rise and say: "We have now
our constitution all framed except
that which shall determine who is to
issue the money. Now there are q
few hundred men who let us have
money when we are in trouble; we
love them; | move that we give it into
the hands OF our creditors and their
successors, world without end, amen,
to say how much money there shall
be in this country and when it shall
be issued to the people" Now l
would move on an amendment, that
the power to say what shall be the
price of all property in this country
shall not be conferred npon corpor-
atoms, the creditors of the country,
but that it shall be left to the people
represented in congress, to say through
their representatives how much money
we shall have and what shall be the
money of the country. Applause.
venture to say that even in this
house, with so many friends Of the
syndicate as we have here to vote,
there would not be one man who
would dare to vote "no" on my
amendment, the proposition is SO
plain.
But sir, it is commended that the
national bank system furnishes an
elastic currency. My friend, Thomas
M. Nichols, the secretary of the Hon
est Money league, that represents to
day the hard money element of both
old parties, and whose circulars are
sent all over the country by members
Of congress, says that the national
bank system furnishes an elastic sys-
tenn of currency; that If the wants Of
trade require more money the banks
can get it by deposting bonds, and if
the currency becomes redundant they
can surrender it. They will regulate
it solely for our good Of course. Thus
it is claimed that under the national
bank system the amount Of currency
can be adjusted at the will Of the
banks in accordance with the demands
of trade. But. sir, l maintain that the
elasticity which we get at the option
of the banks constitutes one of the
greatest objections to the system.
Such elasticity reminds me of the first
piece Of India rubber l ever saw. A
great big fellow came to school, when
was little boy about 10 years old,
holding in his hand piece of IDdia
rubber which he was stretching. He
said to me, "Jim. did you ever see
anything like thisP" replied: Il
never had what is itP' why" said
he. they call it India rubber. Take
one end of it between your teeth " |
did so. Now" said he, pull" |
l pulled and he pulled. When it was
stretching out, while it was expanding
it did not hurt me bit; but when he
let loose the other end that was con-
traction, and you may depend it was
not pleasant. [Great laughter Now,
the proposition is to put the rubber to
the lips of the American people and
let the national banks draw it out
whenever they please. [Laughter]
| say that is one of the monster
evils Of the age, and in defiance of all
correct systems of finance that we
allow by law q set of men who are not
elected by the people, who are not
responsible to them for the manage
ment of theil banking institutions, to
regulate at will the volUme of the cur
rency, Such II system of finance is no
better than u system of robbery, and
10 has had that effect practically, as a
million ruined homes can testify.
Mr.. Wilber-I would like to ask the
gentleman whether the specula tors
who are interested in the passage Of
! the silver bullion bill are under oathF
Are they not in this respect in the
same situation as the national banksF
Mr.. Weaver--My dear sir, / would