The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-12-07
ABLY DEFENDED.
Senator Baker Takes Up the
Cause Of the GreenbackS
Against the Statements in the
Presidents Message.
WE ARE A NATION.
The Governments Right to
Issue and Coin Money.
Important Interview With the
Journals Correspondent.

From the State Journals Special Correspondent
WASHINGTON, Dec 7.-Senator Lucien
Baker doesn't believe that it is an over
dose of greanbacks which is ailing this
country as was suggested by the presi-
dent in his message the other day. He
declares that while the president is no
doubt sincere in his views on the money
question and certainly states his opinions
in no unmistakable language he is clearly
pettifogging when it comes to the mat
ters of revenue and the gold reserve.
Mr.. Baker believes the whole trouble
grows out of lack of revenue and that
this shortage is due directly to the Will
son bill "And yet" said Mr. Baker,
with all the assurance which ignorance
generally possesses the president has
declared that the retirement of the
greenbacks and treasury notes will re-
store prosperity and business confidence.
To my mind, the striking down of $780,
OO0,000 of the currency of the country at
one blow would be an act of stupendous
folly. Such marked contraction of the
national currency could not help but
precipitate a terrible panic.
'sThe truth of the matter is Mr.. Cleve-
land probably doesn't like the thought
of greenbacks. They helped to whip
too many of his party during the war.
Under the specious plea of protectin g
the gold reserve the administration seeks
to cover up the deficit made by the Will
son bill in which it was sought to en-
body the Democratic doctrine of free
trade. Why is the gold reserve depleted?
Is it because the people simply want
gold for their greenbacks as a matter OF
choice? 1t is because under Demo
cratic tariff we have been buying more
of foreign countries than we have Eeen
selling to them. The balance of trade
is against US and those who have obliga-
tions to meet take their green backs to
the treasury or sub-treasuries and get
gold for them with which to do so. If it
was simply a matter of choice, why
during Republican administrations when
there was such a large treasury surplus
that the Democratic party kept crying
that it was a menace to free government
and danger to liberty, did not the peo-
pie go then and draw out the gold.
"In those times the Democrats used to
delight to sit down and figure out on a
piece of paper how much the surplus
would give to each man, woman and
child in the country if it were distribu-
ted.
at is distributed now," said Senator
Baker with sarcastic smile.
:'Why is it if the greenbacks are the
cause of all this trouble that gold during
the years of Republican administrations
went abroad at the rate of about three
millions a year, and under Democratic
tariff has been sent out 100 millions a
year?
THE policy of the administration has
been to throw down the bars, and let the
workingmen of this country scuff1s with
81 of
"The substitution of interest bearing
bonds for notes bearing no interest,
would simply plunge this country deep
er and deeper into debt. We are selling
our property to make up a deficiency in
revenue. If the government hasn't the
coin to pay out for its obligations it has
the greenback. When an ordinary deb
or has an obligation to meet and no mon
ey, he gives his note with interest. When
the government is in the same position it
can offer the greenback without interest" !"
Mr.. Cleveland said in his message that
this was ''redeeming without REDEEM ption
and paying without acquittance" But"
Senator Baker said: sit is paying, for
greenbacks are money. The supreme
court has so decided in two cases
at declared that congress had the right
to say what WAS money. 1t is true the
note promises to pay in gold. but doesn't
say when, and until that time it is mon
ey."
Referring 10 a speech of Hoke Smith
in which he favored the gold standard
and national banks, Senator Baker said:
''N Q are a nation. absolutely a nation,
and our money should be absolutely ma
tional money. 1t is the right of the gov
ernment to issue and coin money. The
government should never relinq uish this
right M. F. d.