Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1897-11-11
DRIFT IS TO FIATISM.
SILVER WING OF DEMOCRACY
RAPIDLY DiSiNTEGRATlNG.
The Leaders Are Looking Around for
New Issue Which Can Be Made
Popular with the People-Many Be-
1ieve in Greenbackisn.
Paper Money Party.

Tree SILVER issue throughout the country,
considerable interest is awakened as
| to what the leaders of the Democracy
will choose as the basis of future prin-
ciples 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 state of organization, and
which is denominated the National Pa
per 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 the other issues which
have been the mainstay of the old
Democratic party are to be side-track-
ed as side issues of only minor import
ance.
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 appropriately Of the silver
cause, and that while some of it's sup
porters still cling to the free coinage
| idea a 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 recently
l hnJ IN nd re-
| were made to enter the Congressional
| campaign of next year. 1t is claimed
| that the new movement has made some
Roadway in the Western States, and
| that clubs have been organ ed in San
| Francisco, Kansas City and other
| Western cities. Pure fiatism, 10 metal
| lie basis of currency, and no redemp-
| ton 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 sill
verites, who have always believed in
| greenbackism and have tolerated silver
| simply as means to the end. The new
party promises to devote itself to the
| Ing Government paper, issued and con-
trolled entirely by Congress, legal ten
| der for all debts and not redeemable.
| 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 circulation in the coun-
| try will be recognized for it's face val
] he, but no more Of the kind will be is
sued. 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 scheme in toto; in other words,
| they are not educated up to it. Ere
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
| hacker than free silverite, and the
following words of the Governor would
seem to corroborate the claim: "Agl-
| tation in the paper money direction is
| good; and it may take only spark to
cause the tide to turn; but | think it
will take a long time to educate the
people to adopt the correct system 1t
| is the purpose of the new party to
commence the work of education i'm
mediately, and the hope is that the dis
membered Democracy will be united
under the standard of true iatism and
| imitation.
What the new movements will result
| in will be interesting to watch. That
disintegration 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
| Bryan, Under whatever name, still as
| sert 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, but there are a great
many people who have no such person
| al experience to guide them. A million
| or more laborers, whose wages have
been increased, or who have found en-
| ployment after long idleness, know
that this is not so, but there may be
millions more who have not had any
such experience. The volume of bust
ness actually transacted, as shown by
the bank clearances and business state
| ments, shows to the business man that
a general and great Improvement is at
hand.
Considerable satisfactory comment is
occasioned by the appointment by the
President of Mr.. John A. Kasson, as
Reciprocity Commissioner. The recip-
rocity features Of the Mckinley law
were managed by the State Depart
ment. which occasioned much delay,
owing to the tedious routine of that de-
partment, and the need is now felt for