The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-01-08
OLD SUBTERFUGE SHERMAN.
A BREAK IN THE RANKS.

John would seem on the surface to
have broken with the National Banks.
1t may be that having achieved vast
fortune by betraying the people, he
desires not to die and make Judas
Iscariot :nd Benedict Arnold respect
able by his memory. But even there
the old trickster is true to his deeper
Instincts. He said, in the United
States Senate, on last Friday:
But the president is not satisfied.
He demanded the retirement and can
collation. of all the United States and
treasury notes by the sale of bonds Of
the United States bearing interest
If this policy is adopted to compel the
pc pie CT the United States to Surrender
TIE best paper currency they haze erer en-
joWd il will fail. If revenue is want
ed to meet current expenditure it will
be furnished either by taxation or by
borrowing or by both, but to create
deficiencies in order to compel the
cancellation of United States notes, by
the issue Of bonds. will not, in the
language OF the president, meet with
legislative approval.
''He that would sup with the devil
hath need OF a long spoon" The presi-
dent thought it was great point
gained to have Sherman support him
in stopping the free coinage of silver;
and now he deserts MIN, and leaves
him sitting in the dirt, wondering
how it all happened. The unfortun-
ate Democracy, persistently led astray
by the platitudincus old lunk-head
they have made their oracle, finds it,
self forced into position of opposi-
tiOn to the green backs, and into sup
port of the national bank money; and
on that disloyal issue the party will
disappear from the pages of history.
But Sherman, while he bows to the
force of public opinion, is no more
honest than Cleveland. He intends
that the green backs, "the best paper
currency the people have ever enjoy
3D." shall not be increased, Gas good
thing should be) but shall be sup
planted by national bank notes. He
says In the same speech:
"a careful study of the system of
banking, currency and coinage adopt
ed by the principal nations OF burope
convinces me that our system, when
cured Of few defects, developed by
time, founded upon the binaetalHc coinage
IT gold and Siluer, ma. 7,tdaned at par acith
each other, acith free national banks estob-
ished IN ere,y city and toun of importance
IN the United States issuing their notes.
secured beyond doubt by United States
bonds or some equivalent security, re-
deemable on demand in the United
States notes, and the issue of an
amount Of United States notes, and
treasury notes equal to the amount
outstanding, with this provision for
rateable Increase with the increase OF
population, always redee ma BILE in
coin, supported by an ample reserve of
coin In the treasury, not to be invaded
by deficiencies of revenue and separ-
ated by the sub-treasury system from
all connection with the receipts and
expenditures of the government
such system would make our money
current in commercial circles in every
land ana cline, better than the best
that now exists in Europe; better
than that of Great Britain. which
now holds the purse strings of the
world"
Any simple-minded, honest man,
reading this, would suppose it meant
what it says,-''the bi-metallic coin
age of gold and silver, maintained at
par with each other" Gust what the
Populists ask;) but this ancient Me-
phisto means gold and silver coinage,
maintained at par with each other,
by denying silver access to the minis
and making gold the sole standard of
values. And he is in favor of green
backs. but he would have the national
banks Gin every city and town Of i'm
portance in the United States" to is
sue bank notes, "redeemab BILE in green
backs" If the bank notes are only good
because they are redeemable in green
backs, why not use the greenbacks
without the bank notes? Why throw
away "the best paper currency the
people ever enjoyed" to use an in
ferior currency, which has, after all,
to be redeemed in ''the best currency;"
especially when the use of the inferior
currency, (the non-legal-tender bank
notes. will cost the people $50. 900. 900
Of interest paid annually to the bankers2
By what right, human or divine, do a
few thousand bankers collect fifty
millions per annum. Of interest, from
the American people, and in doing 50
displace 1.-THE best currency" in the
world? You or l, friend, could not
collect fifty cents from our fellow citi-
zens, without giving them an equiva-
lent for 1T, or going to Jail. Are the
bankers made Of different clay, that
all OF us mus pay them vast tributes
yearly? The fool Pcruvians used to
believe that their Inca rulers were
''childern of sum-" and not made of
the same stuff as their subjects. Are
the bankers "children of the sum-" or
are they pack OF greedy, souless,
adulterous wretches, without breadth
of learning or elevation of soul?
Sherman is wise enough to make
some concessions to the truth, but he
'winks the other eye" at the bankers
and says: Hold on boys; keep quiet;
the beast is getting awake and COM
mencing to roar; we must throw him
chunk of gree backs: but we will
have bank in every town; and there
shall not be q dollar IN circulation, in all
this vast continental, imperial domin-
ion, among all these 10000, 00D Of toll
ers, that is not borrowed dollar; and
that does not, from gears end to gears
end. pay tribute to prirate parties. Thus
shall we have the great Republic tied
neck and heels to the chariot wheels