The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1896-06-19
SPECIE BASIS.
Strange to Say, Populist Advocates This
Heresy In the United States Senate.


Strange to Say, a Populist Advocates This
Heresy In the United States Senate.
Says the Missouri World: ''Of all the
thousand populist papers in the United
States we do not know of one that IA
Vors a specie basis, and yet Senator AL
ten attempts to make out that the peo-
ple's party favors paper money re-
deemable in coin. The specie basis
fraud is the mainstay of the money
power. Populists want a broader basis
for the money that is to transact the
business of this great nation than the
little dross that may or may not be
found. They want it based on the en-
tire wealth of the nation and redeem
able in taxes, Dues debts, and all prop
erty. Base the paper money on Shy
locks metal and he will preside over
the destinies OF the people. The law
makes money. This fact is certainly
before the people. The silver dollar,
irredeemable and absolute money,
made of so cents worth of silver bull
lion, is an object lesson that has
taught the people more on the money
question than Senator Allen pretends
to know. free people and specie
basis cannot exist in, the same nation"
In the foregoing editorial, the World
has in mind a speech made in the
United States senate May 90 and %, by
Senator w. V. Allen, of Nebraska.
In the course of said speech Mr..
Allen made use of the following
language as printed in the Congress
sional Record:
Mr.. Allen-The populist party wants
gold and silver, and a paper currency
redeemable as it is redeemable now.
Mr.. Gallinger-Exactly.
Mr.. Allen-In gold and silver.
Mr.. Gallinger-Precisely.
Mr.. Allen-Increasedb by healthy and
safe degrees to $50 per capita.
Mr.. Gallinger-Yes; but you must
double the present currency of the
country of all kinds before you can
have $50 per capita. How are you go
ing to do it?
Mr.. Allen-How are you going to do
it?
Mr.. Gallinger-Yes, sir.
Mr.. Allen-I have said to the senator
that we would take gold and silver
from the mines and coin them freely
Mr.. Gallenger-It will take so years
to do it.
Mr.. Allen-It will not.
Mr.. Gallenger-It will, absolutely.
Mr.. A1len-It will not
Mr.. Stewart should like to in
uuire of the senator from New Hamp-
shire whence comes this scare of infla-
ton if we can coin only $40, 600. 600 in
year.
Mr.. Gallinger-That is all you can
coin of silver.
Mr.. Allen-I wish to get along with
my argument. That is all there is to
the populist platform, and this thing
that has come in here like a ghost
occasionally, which has been brought
in by repu blicans and democrats, dis
appears when you come to read the
platform. Let us go into the earth,
into the rocks, and take the gold and
silver that are produced there an d
bring them to the minis and coin the m
freely, and coin them in sufficient
quantities. Let us issue a volume of
money, paper money, redeemable in
gold and silver, in "a quantity
that experience proves the coin
basis will safely carry. What
is wrong about that? Yet 1 re-
peat that the senior senator from Oh 10
(Mr. Sherman, the senior senator from
New York (Mr. Hill, the junior sem
ator from Kansas (Mr. Baker,, and 9TH
er senators whose names do not now
recall-I recall those particularly
have stated in this chamber and as
serted from time to time that what the
populists want is an irrede enable pa
per money. There is no excuse for
you, gentlemen, if you assert it again.
hope the time will neversagain come
when any self-respecting gentleman
will permit himself to stand in this
chamber and assert that the populist
party is in favor of an irredeemable
currency.
In the same speech, Mr.. Allen square
ly repudiated that portion Of the
Omaha platform reading thus:
ga just equitable and efficient means
of distribution direct to the people at
tax not to exceed two per cent per an
mum to be provided as set forth in the
sub-treasury plan of the Farmers Al
lance, or a better system"
Referring to this feature of the de-
mands, he said: 81 said to the senate
that that was the weak point, and the
only weak point, in the populist plat
form. Let me say to the senator from
Connecticut that I do not know of a