Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-12-10
is A GREAT SCHEME.
SECRETARY CAGES FINANCIAL
JUGCERNAUT.
The Administrations Plan Leaves Moth
Ing to BE Desired by the Most Re-
Inorseless Usurer-Plan to Enslave the
American People.

Secretary Gage has pulled off the
mask from the face of the Mckinley
administration. Senator Wolcott had
no sooner walked the gang plank of a
returning European steamer than the
monOmetallic scheme which prevailed
in the last presidential election is
given to the public as proposition by
Secretary Gage, which was by him laid
before the cabinet meeting on Friday
1t leaves nothing to be desired by the
most remOrseless usurer, and nothing
to be hoped for by those who are in
debt. 1t proposes the destruction of sill
yer as a money of redemption, and de-
clares that Immediately, and without
legislation, the entire volume of the
silver dollars in this country is con-
vertible into gold coin at the demand
Of the holder. All silver certificates are
instantly convertible into silver dol
lars, and Secretary Gage offers to give
gold in exchange for the whole of
them. He favors the refunding of all
the bonded indebtedness of the gov
eminent He would exchange the pres
ent bonds for new ones expressly pay:
able in gold instead of in coin, with in
terest at IN per cent. He would give
the present bondholders enough addi-
tional bonds to make up for this reduc-
tion in interest. He would increase the
gold reserve to one hundred and TWEEN
ty-five millions of dollars, and make it
permanent. To that he would add all
Of the silver dollars and silver bullion,
and still to these he would add two
hundred millions of the greenbacks.
and never let them 60 out, unless some
body wanted to give gold for them. He
would establish a new national bank
ing system. He would have the gov
eminent furnish to private banks $3.50
worth of bank notes for every 500 of
bonds deposited as security. He would
have the government guarantee the
entire national bank issue. Two-thirds
of the issue would be secured by
bonds, and the remaining third by the
assets of the banks and 2 per cent
tax on the unsecured circulation. The
assets of the banks would include the
tables, chairs, pens, pencils, inkstands,
paper weights and stationery of every
description, and the safes and the keys
to the same.
1t is a great scheme. 1t snatches
grace beyond the reach Of Clevelands
art, and puts the plant Carlisle to
school.
Mr.. Gage bases his demand for this
scheme upon the present weakness of
the nations credit. He says that COM
merce and industry, so sensitive to all
financial events, and watchful with
anxiety against dangers as yet unseen,
need for their full rehabilitation from
past reverses and depression, a renew
ed confidence that the government
finances are to be firmly placed on
stronger and more enduring founda-
lions than now exist" Secondng Mr..
Cages motion, President Mckinley
said, in his banquet speech at Cincin-
natl on Saturday evening: Remember
ing our recent panic and financial ex-
perience, we should strengthen the
weak places in our financial system and
remove it further from ambiguity and
doubt"
We suggest that simpler plan to re-
move all anxiety and doubt would be
by an amendment to the Constitution
to place in the hands of Pierpont Nor
gan and his associates, and their sue
cessors forever, the entire legislative
power of the United States in matters
connected with finance and the cur
rency. In other words, that the United
States government make an assign
ment to Secretary Cages powerful New
York supporters.