The Louisiana populist., 1897-07-30
BANKERS ALARMED.
THE INTERNATIONAL AGREE
MENT PEOPLE STAMPEDE.
PENDING Their Further Movements the
Great Political Revolution Is Gaining
Ground With the People and Radical
Reform Ideas Are Taking Root.


Reform Ideas Are Taking Root.
The results of the last election gave
clear indication that the American
sovereigns were getting tired Of the per-
petual domination of the money pow
er. The adoption Of bimetallism, it is
admitted, would have given that pow
er tremendous slap in the face. Six
and half millions voted, unreservedly,
to administer this punishment, while
the remaining seven millions sought to
render it still more emphatic by Sc
curing the adoption of an international
agreement. How small hold the gold
bug policy had on the affection of the
nation was proved by the attenuated
following secured by Palmer and Buck
ner. the gold bug candidates.
Now the genuine advocates Of the
international agreement arrangement
evidently overestimated the immediate
effect on the European circle Of fnan-
ciers OF an expression of sentiment in
favor of international bimetallism by
the American people.
When Hamlet, prince Of Denmark,
remarked that the cloud above him re-
sembled weasel, the courtiers with
ready compliance hastened to corrobo-
rate his judgment; when he declared
the same cloud to be like whale, they,
too, observing the threatening aspect
OF the prince, found immediate rea-
SONS to alter their former conclusions.
But the American Hamlet Of public
opinion failed, entirely, to convert the
money magnates Of the Eastern hemis
phere from the weasel theory Of gold
monometallism to the whale theory of
bimetallism. These astute financiers
discounted his threat Of the possible
bankruptcy of the United States gov
ernment and the debt paying failure
OF the nation generally, in the event
OF bimetallism not being universally
adopted. They held themselves fully
prepared to run the risk of getting all
their American securities unloaded
onto the home market to which they
belong before such calamity could
take place.
Rothschild and his clique, although
perfectly willing to parley with the in
fluential bimetallists. continue to push
forward their plans with unabated Wig
or, plans which consist OF nothing
short Of driving the whole world to
adopt the gold standard and securing
in their own power the gold mines of
the world so as to control the out
put.
So 1t has occurred that Senator VOL
colt and his friends, representatives Of
the principle OF international bimetal-
lism, after being wined and dined and
treated with the utmost politeness by
the kings of finance, returned from Eu-
rope having accomplished nothing, abb
solntely nothing.
Such being the situation before us.
what are we going to do about 1t? A
monster petition presented to congress
signed by the six and half million
supporters Of Bryan, supplemented by
a large proportion Of the other voters,
might have some considerable effect in
the minds of Mr.. Mckinley, the con-
gress and the senate. But here comes
a difficulty. The constitution Of the
United States, as administered by the
supreme court, Is quite an ironclad af-
fair; 1t does not provide for any change
of national policy, excepting once in
four years: however much circum-
-tances may have changed In the In
rim, the decision on change Of pol
| ymust be determined by the execu-
t. e mot by the people. Before such
q petition could be got together, con-
stl tutional objections might be raised,
\ m{ he constitutional objections might
! bexarged against its presentation, and
J finally, IL presented, 1t might be
shelved on account OF still further con-
sideration of q constitutional character,
which the supreme court would be at
no loss to discover. Lastly, the re-
formers themselves are no longer in
the mood to be satisfied with bimetal-
ism alone; they require the national
Ization OF all the land and all the pub
lie utilities, the establishment OF pos
lal banks, and the re-transfer to mu-
nicipalities Of all the franchises held
by individuals and private corpora
tions: these demands will be supple
mented by that Of the initiative and
referendum which will place the deci-
sion Of national issues in the hands of
the people.
JOHN W. MARGETTs.