The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-11-12
NEW PARTY FORMED
ONE OF TOTAL FIATISM ANE
NON-REDEMPTiO

I'VE ~ nj IN ISW fAIND
NON-REDEMPTIO
Known National Paper Party-Pro.
pose to Do Away With All Metallic
Money-Governor Altgeld Favors the
Wild Cat Scheme.
E: F. PARSONS, Special Correspondent.
Washington, D. G. - Considerable
satisfactory comment is occasioned by
the appointment by the president OF
Mr.. John A. Kasson, as reciprocity
commissioner. The reciprocity features
of the Mckinley law were managed by
the state department. which occasioned
much delay, owing to the tedious rou-
tine Of that department and the need
is now felt for better and quicker
transaction of the work required under
these features of the Dingley law. AL
though an experiment under the Nc
Kinley law, reciprocity was proven
most satisfactory undertaking and
one of the most serious blunders of the
Democracy in 1894 was in the repeal
of all reciprocity features of the tariff
and the recinding of all special agree.
ments entered into under the Mckinley
law. The avowed policy of the Demo-
cratic administration was free, trade
and those agreements were looking to
that very end with all nations who de-
sired to enter into them, SO that from
even a Democratic standpoint they
should have been retained. 1t is un-
derstood that a number of foreign
countries are anxious to at once enter
into reciprocal agreements with this
country, and it is thought that these
features of the new law will be among
its most popular provisions.
With the gradual dying out of the
free silver issue throughout the coun-
try, considerable interest is awakened
as to what the leaders of the Democ-
racy will choose as the basis of future
principles upon which to go before the
country and the voters of the United
States. Not little curiosity is mani
tested here as to the exact status of
the new political party which is said to
be in a state of organization. and
which is denominated the National
Paper Money party and which promises
primarily to devote itself exclusively
to the currency question as the first
and greatest issue before the country.
The tariff question is to be relegated to
the rear, and all other issues which
have been the mainstay of the old
Democratic party are to be side-tracked
as side issues of only minor Importance.
1t is we'll understood by close observ-
ers and in fact by all intelligent read
ers of the newspapers that the wing of
the Democratic party which last year
adopted free silver as it's cardinal prin-
ciple has been gradually disintegrating
owing to the growing unpopularity Of
the silver cause and that which some
of it's supporters still cling to the free
coinage idea. large proportion of them
are casting about for another issue
which will be more likely to take with
the people as campaign issue in the
fight of 1900. A preliminary meeting
of the new Paper Money party was re-
Gently held in Chicago and arrange
ments were made to enter the congress
sional campaign of next year. 1t is
claimed that the new movement has
ms de some headway in the Western
states and that clubs have been organ
lied in San Francisco, Kansas City and
other Western cities. Pure fatism,
no metallic basis of currency and no
redemption is announced as the motto
of the new movement. This resolves
itself into old time greenbackism, pure
and simple and will doubtless find
many supporters from the ranks of the
silverites, who have always believed in
greenbackism and have tolerated silver
simply as a means to the end. The
new party promises to devote itself to
the single plank of greenbackism, de-
manding government paper, issued and
controlled entirely by congress, le= al
| tender for all debts and not redeema-
BILE. Congress will be called upon to
stop issuing all gold, silver and bank
paper money and to issue only national
paper money for the use of the people.
The money now in Giro ulation in the
country will be recognized for its face
value, but no more of the kind will be
issued. Ex-Governor Altgeld is said to
be in favor of the movement, but ex-
presses the doubt that the people of the
country are not ready to accept the fiat
| SCuCuc LII LOtO, LII O1'Ci WINS ehSy
are not yet educated up to it. Fre-
quent declarations were heard during
the campaign of last year that free sill
yer was but necessary stepping stone
to the true money of the country, viz: {:
paper currency. 1t was frequently as
serted during the last campaign that
Governor Altgeld was more of green
backer than a free silverite and the
following words of the governor would
seem to corroborate the claim: "Agi-
tation in the paper money direction IS
good; and it may take only spark to
cause the tide to turn, but l think it
will take long time to educate the
people to adopt the correct system 1t
is the purpose of the new party to com
mence the work of education immedi-
ately and the hope is that the dismem-
bered Democracy will be united under
the standard of true fatism and 1nfia-
| tion.
What the new movements will result
in will be interesting to watch. That
distegration is steadily going on in the
Democratic and silver parties is be-
yond question but what new phoenix
will arise from the ashes no one can at
this period tell. The followers of Bry-
an, under whatever name, still assert
that there has been no real revival of
prosperity in the country or improve
ment in business. Business men know
that this is not SO.
The calamity shriekers will have to
hurry if they expect to get In their
shrieks about farm mortgages. Dis
patches to that sterling Democratic pa
per, the New York Sun. say that farm
ers in all PARTS of the country are rap