The herald., 1897-04-22

who have deceived us in the past, and
/ why favor the very things that caused
our hard times under Cleveland's past
administration? Have not the people
been betrayed enough already, or are
they going to allow themselves to be
hoodwinked once more?
There Is only one course open to de-
feat the plans proposed, and that is for
each and every citizen Of our country to
make 1t his duty to write personally to
President Mckinley and the senators and
congressman from his district, protest.
ing against any such reforms" and
| pointing out its evils. The money con-
clave has already brought all it's great
influence to bear and has concentrated
its forces and efforts to accomplish its
ends, and the only thing for the people
to do Is to unite in opposition to the
| same.
| Our champion. Hon. William J. Bryan,
In his great book just published, "The
First Battle" says in the printed copy
Of his letter OF acceptance Of the Dem
ocratic nomination, on page All:
"The present attempt of the national
banks to force the retirement of United
States notes and treasury notes, in or
der to secure basis for a larger issue
of their own notes, illustrates the danger
which arises from permitting them to
issue their paper as circulating medium.
The national bank note, being redeem
able In lawful money. has never been
better than the United States note
| which stands behind it, and yet the
banks persistently demand that these
United States notes, which draw no in
terest, shall give place to interest bear
ft,r~ hAc L. To-. or11 kLak H.
collect the interest that the people now
save. To empower national banks to
issue circulating notes is to grant a val
liable privilege to favored class sur
render to private corporations the con-
troll of the volume Of paper money, and
| build up a class which will claim
vested interest in the nations financial
policy. Our United States notes, COM
monty known as greenbacks, being re-
deemable in either gold or silver at the
| option of the government, and not at the
option of the holder, are safer and cheap
er for the people than national bank
notes based on interest bearing bonds"
have several times heard otherwise
sensible men say that they thought the
bankers knew more about the money
question than they did, and that they
were willing to let the bankers settle it,
but If this is the program the bankers
will settle it to their own interests and
| against the interest of the people or the
government, and in a short time, If they
are allowed to accomplish their ends,
the people will be bankrupt, for 1t is
largely to the bankers interest to make
| money scarce and interest high, while
the reverse is to the advantage of the
| workmen and business men of the coun-
| try.
To show that this Is no idle fear I
| need only quote portions of what the
present secretary of the treasury, Ly-
man T. Gage, said in an interview given
| to a reporter of the New York World
January 81 last. 1t should be remem-
bered that previous to accepting his
present position. he was head of the
largest national bank in the city of Chi
| cago and president of the American
Bankers association. His words were
as follows:
I'm my opinion, the greenback should
be permanently retired. The silver pur-
chased under the Sherman act should be
gradually sold and the treasury notes re-
deemed and Cancelled. Some we'll
guarded system Of bank note circulation
l-broader and more elastic than the ma
tional bank act provides-should be in
| augurated. Such bank notes should be
redeemable at central place and be
redeemable in gold only"
| What does this mean? Simply that
| he favors giving the control of the money
into the hands of the banks alone, the
issuing of more bonds, on which the
| government shall pay interest, to the
bankers, on which they then can issue
| more bank notes and receive back from
the government, in bank notes, practi-
cally the entire amount of the bonds
deposited. so the government would be
virtually paying per cent interest
yearly on an investment by the banks of
a few hundred dollars. and, last, a single
gold standard entirely in the United
States.
The Republican platform said that It
stood for bimetallism under internatio..-
al agreement; the Democratic and Peo-
ple's party platforms declared for free
coinage at 16 to l, and the gold Demo-
Gratis declared for a single gold stan
dard. The Republican party triumphed
and stands pledged to bring about an
international agreement, while the gold
Democratic candidates received the
smallest of al; votes cast; but If Presi-
uent MchIiley anu MS ADVISERS attempt
to adopt the principles of the latter par.
ty, they will find themselves and their
party swept out of existence at the next
election, and their lack of faith will be
repudiated, and they will be condemned
as was Grover Cleveland.
The people are studying now even
more carefully than before the last elec-
tion, and the proof that the silver ques-
tion is not dead by any manner of means
Is shown by the results Of the recent
elections throughout the east and the
selection of almost all the silver candi-
dates for office. AS Abraham Lincoln
said: You can fool all Of the people
some of the time. and you can fool some
of the people all the time, but you CAM
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