People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-08-25


of any single article has to FIX the
price for which its goods shall be sold.
just as the body of a tree is stronger
than all its branches, so the money
trust is more powerful than all other
trusts combined. Every other trust,
however potent it may be, is simply
the offspring, and at the mercy of this
parent monster called the money
power"
A few months ago an antitrust con-
Tention was held in Chicago to find
ways and means to crush these mon
sters. Suppose they should succeed in
crushing all but the money trust.
What would they accomplish? Moth
ing. Because the money power could
rebuild them as fast as they could he
torn down. Had that convention
''hoisted the black flag" and declared
eternal war" on the money trust;
had they attacked the parent in the
place Of few offsprings, their labor
would have been crowned with better
results
Suppose they should undertake to
buy up all the coal fields and nation
aiize this industry. To do this will
require money, and in order to get the
money they must face the money
trust. They must 60 to the parent for
weapons to crush his offspring. The
same obstacle will meet us whenever
we undertake to nationalize any other
industry. On every turn we are met
by this parent monster and compelled
to pay tribute as he dictates.
Again, suppose that all our natural
monopolies and resources were ma
tlonalized and the power of money be
left in the hands of trust, as it now
is. What would be the result? Why,
this money trust would still have the
same power to absorb wealth and dc
tate terms to these nationalized indus.
tries just as effectively as they now do
to the people and all other trusts.
1t is just as impossible to kill this
parent monster by destroying few of
its offspring as it is tree by cutting
off few leaves or twigs.
Don't misunderstood me. am not
for one moment opposed to natlraliz-
ing all our natural monopolies and re-
sources. What l mean is this: Let
us first destroy the money trust Let
us cut the body of this tree to the
heart on both sides, then when it falls
we can rest assured that it is only a
question of time until every infant,
every branch, leaf or twig of this
parent trust will fall with it
The next question is, how can we
destroy this money trust? Will free
coinage of silver do so? No. First,
because there is neither a sufficient
amont of gold and silver on hand for
monetary use, nor can the mines supply
them. Second, it will still leave the
power to issue money in the hands of
Observation-Disclosures who control the
products of these mines-and our
money volume at the mercy of the ebb
and flow of coin, which will produce
an imitation every time it comes to our
shores and leave a panic whenever it
departs. To-day our money volume
ispractically controlled by gold trust.
If we add free coinage OF silver and
let the banks issue the necessary paper
money we will then have a gold and
silver trust. The money power will
control our volume of money Just as
effectively as they now do, with only
this difference: That both metals are
more difficult to control than one.
If free coinage of silver will not de-
stroy the money trust, what then can
I've do that will? Suppose anyone
should undertake to destroy the coal
trust what would be the first step he
would have to take? Why, he would
simply take from it the power to con.
troll the output OF coal, Its ability to
restrict production and say how much
coal shou be mined. Unless he could
do that it would be impossible to de-
stroy the trust So it is with the
money trust. The only legitimate
remedy to destroy its power is to take
from it the right and authority to issue
money. This authority to issue money
also carries with it the abilitysto con-
troll its volume and fix the price for
which all products aud property shall
be sold. Just as it is impossible to
corner an article when its supply is
unlimited, so it is equally impossible
to control the money volume when the
right to issue it is in the hands of The
people, aud the material out of which
1t is to be made exists in unlimited
quantities
Suppose we leave the money trust in