Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1896-09-18

tional banking business, with the
bonds as basis, and issued paper cur
rency as our banks do. How about
a $40 bank note, which some one would
hold now? 1t wouldn't be worth as
much as So cent silver dollars, would
1t? Yet we are told that paper bank
currency is sound money. Again, sup
pose man had held $40 worth Of gold
without the Roman stamp on it. 1t
would have been just the same as II he
had held $40 worth Of diamonds, iron,
copper, silver, lead, brass, or any other
commodity that could be preserved that
long. Anthony's illustration proves
nothing except that when government
goes down, it's obligations, whether
bonds, or redeemable or irredeemable
paper money, are worthless.
Mr.. Sherman is considered one Of the
greatest leaders in the Republican par
ty. He is the party's authority on the
money question. From him the Repub-
licans draw their inspiration for hon
est (D money. He has held Office in
the party constantly for forty years.
Yet while he served as secretary Of the
treasury 1t has been shown by an Of
fetal investigating committee, that he
private transactions. The report of the
committee shows that 1902 of public
money was paid to defray the expenses
of headquarters to boom him for presi-
dent. This item was charged in the
vouchers to "file holders" Another
item was three dozen Colgate's violet
water, at $40 per dozen, $50. The
voucher for this called for friction
Matches" Many other items for pri-
vate use were likewise paid for out Of
the public funds under fraudulent
vouchers.
We are constantly reminded by the
plutocratic class, that government can
not legislate value into anything, yet |
the same class keep horde of paid
lobbyists in and around the capitol all |
the time for the purpose of securing |
legislation that will increase the value |
of their holdings. Take the United |
States bonds, for instance. They were
originally bought for so to 60 cents on
the dollar, as measured in gold value.
The so-called credit strengthening act
Of 1869 made them worth 100 cents on
the dollar, and subsequent legislation
has put them at premium. There has
been paid to the bond holders since
1865 premiums amounting to $119,S36,-
1868. That is to say, the people of the
United States have legislated value into
the bonds, first putting them at par,
and afterwards at premium, and then
bought the bonds in, paying
the premium. Senator Oliver P. Nor
ton had a fair conception of the sell
fish designs of the bond holders while
hey were engaged in securing legisla-
ton to increase their value. Pending
he passage of the credit strengthening
act of 1869, in speech in the United
States Senate, he said:
"And now I PROFOUND the question:
Il is either intended by this bill to
make a new contract or 1t Is not. II 1t
s understood to make new contract
protest against it. We should do
'oul injustice to the government and
people of the United States, after we ,
lave sold these bonds on an average OF
lot more than sixty cents on the dol.
ar, now to make a new contract fol
he benefit of the bond holders. II
lives to those laws a construction do
lot believe in and that have shown
8 contradicted by at least four acts
# Congress.
"Sir, it is understood, believe, that
he passage of bill of this kind would c
ave the effect in Europe where ou' 9
nancial questions are not we'll under.
TODD, to increase the demand, and that I
ill enable the great operators to sell
he bonds they have on hand at prof }
/. It is in the nature Of brokers 9
peration. It 10 a bull movement to
ut up the price Of bonds for the in
crest Of parties dealing in them. This u u
reat interest Is laundering at the l
oors of Congress and has been many II
lonths, and by every means attempt. d
lg to drive us into legislation for the II
lrpose of making money for the great :
This is what it means and G.
othing else" 8
W. S. MORGAN.