The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-12-30
SECRETARY CAGES PLAN.


The monetary plan proposed by Sec
retary Gage contemplates quite a revo.
luton in our currency matters. His bill
provides for the surrender by the gov
ernment, of the sovereign powers over
the currency, to the banks, and also for
re-arranging the government bonds now
existing, and those to be issued in order
to retire the greenbacks and other
government paper, into gold bonds.
1t is not likely that even this Reed
congress will comply with banker
Cages wishes and hand the American
people over to the untender mercies oil
such men as Mr.. Gage. He will likely
surrender his present place long before
such a scheme as his is fastened upon
the people. The tctters he proposes are
gold fetters desired by the speculative
monetary cliques.
Mr.. Gage is banker. His business
has been to deal in money, borrowing
and loaning. Does this qualify him to
prepare an honest monetary system for
the American people? A banker is not
devoid of self interest and it is very eVi-
dent that in his bill Mr.. Cages chief
aim is to take care of the banks and
bondholders rather than the people.
Business men and producers and toilers
have an interest in a good, safe and
sound money system and they and not
bankers are the basis of prosperity.
They too have AZ much interest therein
as bankers, and these drudges in the
lines referred to, have had a large ex-
perience in the vicious results of the
tampering and scheming of bondholders
and bankers and their agents who have
been running our government.
1t seems impossible for these money
dealers to realize where we are at and
what has brought Us there.
One of the eminent men in the inter
national conference held at Brussels in
1893, said that he did not regard it a
wise policy on the part OF creditors to
drive their debtors into bankruptcy.
He was referring to the gold standard
position of the British delegates, for he
was a bimetalist. But this is just what
the money power has been doing, andit
is seen in the decline of prices and val
ues and hence the greater purchasing
power of the dollar. Mr.. Gage & Co.,
it seems, wants to have the power given
to do it more.
We have read of an old woman who
had a goose that laid golden egg every
day. At last not satisfying her avarice,
she killed the goose thinking she would
get a big haul at once, but OF course was
disappointed. One may apply this case
at times. The failure last week of two
large banking establishments at Phila-
delphia may be case in point. The
leaders of these institutions were gold
standard advocates and they ought to
see that these hard times gets around
and around and few escape entirely.
Our unit is tine dollar, but when that dol
lar turns up in value so that it takes
more and more Of other things to get the
dollar, some may gain, but more lose
and suffer But, as we say, it goes
round and reaches even bankers; Mr..
Gage, coming from Chicago as he does,
ought TO know this But ayarice Of all
things, is a most binding quality, and
dealing in money affects judgment as to
estimating men in other occupations.
In his statement before the committee
on banking and currency, Mr.. Gage said
his aim was "to commit the country
more thoroughly to the gold standard,
remove as far as possible doubts and