The record-union., 1895-11-23

not even hazard the remote probability
of contradiction at the hands Of any.
WHO CONTROLS THE FINANCIAL
POLICY OF THE UNITED STATESs
If there was any doubt heretofore
that foreign financiers were debating
the fiscal policy of the Government Of
the United States, the last remaining
vestige of it was swept away by the re-
cent statements of Secretary Carlisle
The honorable Secretary declared in
his speech before the New York Cham
Der of Commerce banquet that the
Treasury notes of the United States
constituted the vice of our monetary
system; that a currency redeemable in
gold and reasonable after redemption
was a vicious currency; that as soon as
there was the slightest diminution N
the gold reserves uneasiness was felt;
and that the country would never see a
restoration of prosperity while this
condition of things existed.
The logic of Mr.. Carlisle's speech was
tC the general effect that the Treas
ury issue of the United States now
serving the country as the medium of
exchange should be redeemed, and in
terest bearing bonds issued in lieu
thereof. This would eliminate from the
volume of circulating medium about
100000. 600.
Mr.. Carlisle's anxiety for the great
investors of the world is one of the no.
ticeable features of his speech. He
says these investors understand our
condition thoroughly well, and they
viii have no confidence as long as we
have a circulating medium which is re-
deemable in gold, but is at the same
time reasonable. The money kings of
this earth have determined that there
shall be one kind of money; that is,
gold coinage. A little later these same
money kings will demand that the
value of gold shall be raised. The leg
islation Of the past twenty-five years in
the United States has placed a pre-
MUM on gold, and that premium is the
source of all our woe.
The banks of the country will not re-
ceive silver on deposit. The stories that
have heretofore been told by the advo-
20 +ac Of tho SiDgIa c+a,5ord 49, 49,.
is a greater volume of silver in circula-
ton now than ever before is refuted by
this simple statement. The banking in
terest of the country refuse to take
silver except in small quantities. In
short, silver was demonetized in 1873,
and the banks are now repudiating it
wholly as a money. 1t is not a money
of redemption; not a money in its own
right; it is simply token money, and
its value depends solely on the willing
ness of the Government to redeem it
L is, therefore, a promise to pay
stamped upon silver, and Mr.. Carlisle
believes that it should no longer be
countenanced as money.
He is equally hostile to the Treasury
notes Of the United States. What he de-
sires is to have but single standard,
and that coinage coined from a single
n.etal-that metal to be gold. The con-
traction to result from Mr.. Carlisle's
theory when it is put into practice will
further depress the value of all results
of labor 1t will squeeze the valuation
cut of all landed properties Of all kinds,
but at the same time it will augment
correspondingly the value of all mort
cages and the value of all forms of
credit MIR. Carlisle and his compatri-
OTIS have delivered the debtor class into
the hands of their creditors, bound
hand and foot.
If the Republican Congress now about
to assemble refuses to enact a free
coinage measure, refuses to arrest the
bond issue of the present administra-
tion-in short, declines to afford the
country TeileI from the constantly aug
menting premium on gold. it should
pass under the condemnation of being
controlled by the banking interests OF
the world and by the creditor classes.
and should fall under the oondemna-
ton of having betrayed it's trust 70 the
people.
! In the meantime, it is to be noted that
| a storm is rising in this country over
the financial condition. The masses Of
the people will not quietly submit to the
enslavement which is being forced upon
them by the creditor classes and,
whether peaceful or forcible, revolu-
| ton is impending.
The shouting and roaring of lot of
professional reformers in San Fran
cisco whenever an exceptional crime is
announced Is apt to disgust thinking