The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-09-08
OPPOSED TO STATE BANKS.
Reply to Mr.. Beardsley's Letter.
Brule, Wis, Aug. "a, 1897.


Brule, Wis.,, Aug. "a, 1897.
Editor Representative:
Occasionally one meets with genuine
surprises, even among Populists, and
while we cannot reasonably expect that
Populists will all think alike, especial
ly in matters of minor consequence, it
Is little difficult for the average mind
to perceive how an Intelligent member
relative to finance as that furnished us
through The Representative in a recent
ISSUE 1t was a fOregone conclusion
with me that all true Populists planted
themselves squarely on the Omaha plat
form anent this fundamental principle Of
economics. Moreover l fail to see how
man can be Populist unless he is in
full sympathy with it's fundamental
principles as adopted in national conven-
ton and published to the world Hence
the article alluded to from the able pen
Of Mr.. Beardsley set me to thinking
and led me to inquire as to what Popu-
lism really is; and with the utmost def
erence, l was driven to the conclusion
that l am way Off, no Populist whatever,
provided his article is sound doctrine.
Now, Mr.. Editor it sounds strange in
deed to one born in the thirties to hear
| q man descant on the bene6cence of state
banks, state control of the currency OF
such a government as ours, composed as
| 1t is of As states. and no one Of these
bound to respect the opinions or stat
| utes of the other. The gentleman must
be young man or his memory Is short
when he reverts to the last state bank
| panic we had in 1857, and recalls the
! widespread financial misery caused by
banks of issue; immigration was pour
| ing in at a rapid rate from the various
| states, bringing the currency issued by
and under the system proposed by
| friend Beardsley, as 50 convenient, and
| you, Mr.. Editor, know better than l can
tell, the result. They went up" IN
rapid succession, leaving us without a
dollar of currency, although our terri
tory was literally flooded with the de-
bris of broken state banks Now if any
man can show that what Is sought to be
reached by state banks cannot be ac-
complished by government issue direct
to the people, will cheerfully yield the
floor. It seems to me that the plan
proposed, or the principle involved, if
extended. would abandon the cars for
the old time coach. would replace the
reaper, binder and mower with the
hand sickle Of primitive days, and the
scythe. One might as justly reason
that the right to collect duties, declare
war, coin money, ETC., should be dele
! gated to the states. No; these are the
rightful prerogatives of sovereignty
without which we could not be nation.
| should be recreant to my political
creed-the Omaha platform to say one
! word in favor of our national banking
| system, but much as l detest it as fur
would continue 1t indefinitely rather
than to substitute therefore what my
! friend Beardsley proposes for the gov
eminent is behind it all. and on every
inch covered by the flag 1t is good. Let
! us look at this great fundamental ques-
ton calmly, and in the light of science
and human progress. Safety, absolute
| security from contingencies is what a
people should have, and what they have
a right to demand at the hand of their
government; and all experience shows
us that this can be reached only when
all money is issued by the government
Then, will it be the same from Maine to
California. If the Populists fail, none
! tary reform cannot obtain in our repub-
lie; for the accumulated wealth of about
5000 men controls our congress and exc
cutive today absolutely.
/ E. w. B. HARVEY.