The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1893-04-08

| tAioSh u iAE iuCOtH y. A1sotJ Ah6uCioi a. :
thority again united In predicting dis
astsr. Instead of disaster it brought
prosperity.
Then came the adoption Of the pres
ent treasury and sub-treasury plan.
| Upon the wisdom of this there was con-
siderable difference Of opinion. The
strongest objection to IL was that it
was that it placed too great power in
the hands Of the Administration. 1t was
said that q Secretary Of the Treasury,
who might be inclined to use power ac-
companying the control of vast sums of
money, could easily act in conjunction
with the speculators of Wall street to
advance or dsprsss interest rates and
prices, and that he and his friends
could not only grow enormously rich,
but influence legislation, political con-
ventions and elections by corrupt use
of the power given him. On the other
hand it was urged that this power in
the hands of Secretary of Treasury,
Justly used for the interest of the whole
people. could defeat the projects of
gam blers who sought by artificial means
to disturb commercial interests. How
well both positions were taken can be
inferred from the history of the United
States treasury since 1866. Under one
secretary it broke the gold corner en-
gineered by Fisk and Jay Gould, and
prscipitated Black Friday. Certainly
other secretaries have lett the office
rich, and all of them for years have
openly taken advice from and acted in
accordance with the dictation of Wall
street gamblers, who, by artificial means
are constantly disturbing commercial
interests How this department of the
Government influences conventions,
elections and legislation upon financial
topics is too well known to need refer
ence. The advocates of free silver coin
age have always had occasion to COM
plain about the Influence. of the United
States Treasurer in defeating their pur
poses.
We all know how officeholders under
the United States treasury, revenue col
lectors, etc., nominated Mr.. Harrisony
and bow ex-officeh holders nominoted Mr..
Cleveland. and how for twenty-eight
years this treasury force and influence
has "runp every national political con-
vention Of one party or the other.
Il -, !, mi
the issuance of grsenbacks and bonds.
The hnanciers aud bankers of Wall
street demanded that the interest be
mad payable in coin. Congress plead
against them that this would give few
men an opportunity to corner gold. be-
cause those who pay duty wonld be-
obliged to have it. The chairman of the
Committee on Ways and Means plead
for the honor of the nation for it not to
disgrace its own paper by declaring that
it would not receive it for ALL dues. He
said that to make the interest on the
bonds payable in coin only, would send
gold to premiem and double the cost
of carrying on the war. But the finan-
cisrs and bankers, assisted by the infiu-
ence of the treasurer, carried their
point. Every one knows that gold did
go to premium, and that the cost of
conducting the war was largely in
creased or that account.
When the war was ended, every in
dustry in the country was prosperous
There was an abundance of work and
good wages for every one, and plenty
of currency in circulation to do the
business of the country on cash basis.
But the fnsnciers and bankers said this
was not pros oerity; "the country was
feverish and trade was in an unhealthy
condition. and the patient must be
blsd. To do this we must get to q spe-
Gle basis, and ''resume payments" and
the only way to do that was to contract
the currency. 1t was in vain that Hor-
ace Greeley, and large party in Con-
gress and out of 1t, in sympathy with
this movement, declared that the way
to resume was to make greenbacks re-
ceivabie for custom dues, and thus
break the corner on gold. The fnan-
ciers and bankers, assisted by the treas
urer, succeeded in carrying their point,
and the currency was contracted. This
contraction precipitated the financial
crash OTIS, and brought ruin upon the
country.
The same men secured the demone-
tization of silver by stealth, and have
constantly and persistently, by every
possible means, from that day to this,
fought its full reconciliation. They
predict every possible evil if that should
be done. ~