Daily capital journal. (Salem, Or.) 1896-1899, 1897-10-30
A POpul,s. on cOrbe.t.

h Hon. Thos. Buchanan, writes frot
e Marshfield, Or:
II have read the Hon. w. NJ. Cot
J. belts letter in THE JOURNAL of tn
22nd, and must say from the stand
point of a banker, in considering tn
banking business for the benefit o
bankers, he has done remarkable well
IL there were no other enterprise
to be considered in the affairs of on
nation and banking and bankers wer'
all the government might take an!
concern about the course plotted out
by the would-be senator, no doubt
would be classed as very sound. The
first statement, viz: "Silver dollar;
and silver certificates should be re-
deemed and paid off in gold by the
government" And what is to be
done with the silver dollars is not
said, further than that he says there
is "too small an amount of halves,
quarters and dimes"
You would not have space to follow
him as L would like to, therefore L
can only draw a few general conclu-
sions:
First, he has gold redemption as
though gold was an ever rea dy
something to do duty and such a
thing as a scarcity could not occur.
But from our standpoint of observa-
sion, knowing that stringencies in
gold do now occur and from past
experiences we must conclude that
all other business must come and 90
more ahead, OF stop entirely as the
condition of the gold market indi-
Gates for the time.
Second, il must be only a national
conclusion that those who control the
gold can and will control all other
business.
Third. it is only rational to con-
clude that a class Of people wOdld not
want such a powerful leverage on all
other kinds of business without eX-
pecting to use it. 1t was very plainly
demonstrated by the panic OF 1898,
that money could made to earn more
by being locked up and kept outof cir
culation thereby causing all other
property to depreclate in value than
it would in legitimate business and
the gold redemption plan as proposed
by Mr.. Corbett would place all other
property .under the press to be
squeezed just whenever it might be
considered profitable, or las often as
the people void bear it.. Mr.. Corbett
is greatly interested as to our stand
ing with other nations, and very con-
scientious that all our dealings must
be scrupulously of the very best; but
amongst ourselves;well that's another
thing. It's such a delight, you know,
for the common people to pay interest
on bonds and wait on all kinds of en-
terprise until somebody gets their con-
idence restored. Free silver would
leave one door open through which
the people could 90 ahead with their
own affairs somewhat, even though
some gold man was to get into the
notion that he lacked confidence and
to the extent we could be able to go
ahead without them, and in spite of
all their pressure we would be indie
pendent, something'they greatly &C.
plore and intend to prevent If they
can by blocking every averue of
escape we might have. The final
security Of this government must rest
on our W prosperity, and the pros
perity Of the C ommon people and by
the fact that all have ways and means
to live in comfort, and u good
standing with other nations will take
cart of itself when we rightly take
care of ourselves. Our experience in
the last four years already show that
when a few men control the finances |
of the nation the prosperity of the
masses is but a playthlng In their
hands and the deprivation and desti-
tuition that has been suffered by the
millions shows very clearly what
they will do whenever they see some
thing to their W advantage by
doing it.