Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1892-04-07
The Money Question.
Editors HERALp:

impudent enough to call again at
some future time. 1 have before me
tonight pamphlet of forty-six pages
the title of which is ''Cheap Money"
1t Is is being spread broadcast all
over the country AS a campaign docu-
ment by the grand old republican par
ty, as evidence against the sub-treas-
ury plan and the proposed monetary
system of the third or Peoples Party.
While I do not apprehend its doing
any amount of mischief, it will be
we'll for all parties who may favor the
principals of the Peoples Party to
thoroughly examine this work. 1t
will be peddled all over the country,
and especially the state of Kansas IN
the vain hope of deluding some and
thinking. that they can succeed in
raising the dear old party back to its
original eigty-tWo thousand, Friends
of the good cause the Devil Is the
prince of evil works and the king of
the internal regions, and there is but
one successful way to fight him-you
must fight him with fire which IS his
own mode of warefare. Therefore,
YOU ought to be able to answer the
thoughts set forth ia ''Cheap Money"
While the work is before US IS the
time to kill it's effect if it has any.
1t sets out to show the direful effects
of cheap money, as Is the way with
all of the wouldbe overwhelming eff
| forts of the G. o. p, it most hopeless
| ly falls short of the mark. The fol-
| lowing extract is from the first chap
| ter which must be considered as bril-
liant beyond all else If we wish life
offices or a crown, which would be on
" an extension OF the desires of the
| hazard circular:
There ought to be a more general
recognition of the fact that the econ
omic administration of a nation the
regulation of its currency and fnan-
ces, calls for expert ability of a rare
kind. In every generation there are
comparatively few men who have the
requisite intellectual equipment for
/ this task, and in almost every other
civilized country except ours they are
sought out and put in exclusive charge
of it. Few intelligent people venture
upon the experiment of being their
own doctors or lawyers. recognizing
the superior fitness of expert ability
to perform those functions. Why
shall we as a nation be less wise?
We must sooner or later realize the
! folly of our course, and must devise
some plan, not inconsistent with the
principles of popular government, by
which the control of our finance shall
be put into the hands of a few tried
| and trained tinanciers, who shall be
removed absolutely beyond the infu-
ence of the popular clamOr. We
shall then have far less trouble than
we have now. The people at large
would be benefited in every way, and
in none more so than through the re-
strictions which such administration
of our finances would put upon the &C
| tivities of certain conscienceless man
lpulators in wall street, who find now
| their best opportunities for mischief
in the uncertainty which constant
meddling with the standard of value
inevitably produces"
A little more contraction, q little
more oppression of labor and the
above extract would be made posi-
ble. A few more Carnagees, Goulds,
Vanderhilts and Rockefelters manu-
featured by unjust legislation then it
would be possible for the plutocrats
and aristocrats to have full sway, and
who would give us a king in whom
all power would be vested. These
are possible facts which have been
seen in the future by foreseeing men.
Abraham Lincoln IN his message to
congress IN 1857, made use of the fol-
lowing language: monarchy itself
IS sometimes limited at as a possible
refuge from the power of the people.
In my present position L should
scarcely be justified were l to omit
raising a warning voice against the
approach of returning despotism.
There IS one point to which I ask
brief attention It is to place capital
on an equal footing with. if not above
labor, IN the structure of government.
Let them beware of surrendering Il
political power which they already
have, and which, If surrendered, will
be used TO close the door OF advance
ment against such as they, and to fix
new disabilities and burdens upon
them, till all of liberty shall be lost"
Friends this warning has become a
prophecy, and the above mentioned
book is only one mere step against
liberty and justice. The author of
Cheap Money" does not once touch
upon the main point of cheap money
proper. He launches out and tells us
of all the wildcat banks, coloneal
money, state bank money and every
! thing of that sort, and such miserable
slush. Fools are afraid of their shad-
ow so likewise he is afaId of full le-
gal tender money such as the $780,
000.OO0 issue of legal tender green
backs Of July IL, 1861, and February
| Il, 1862 This money did not contain
the direptable exception clause and
and was a full legal tender bearing
no interest, and payable for all debts
both public and private. They were
demand notes and for that reason
were at par with gold. They paid
duties on imports, the bondhOlder
took them as interest; even during the
rebellion with the legal tender de-
mand notes ahoat our commerce re-
rived to a prosperous condition, every
time debt was paid with them they
"Cheap Money" goes on to tell us
about the financial crash Of agricul-
ture I would ask what king Of cheap
money was it? Was it not national
bank currency? OF course 1t was
That is not the kind of money the
Peoples Party is IN favor Of Give
us full legal tender. 1 do not know
as it is necessary to go over any more
of the Cheap Money" book, its OWL
folly is its own condemnation, Bnd It's
author only shows downright mean
ness. or q Vytorse amount of unaduiter.