The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1897-07-15
AN nxrnurnp rlNANuIAL POLICY

AN EXPEUTED FINASUIAL Policy
From the very moment OF his elec-
tion President Mckinley has intim-
Ated that as soon as the tariff bill
could be gotten out Of the way the
currency question would be taken up
for consideration and settlement AS
time has gone on, this assertion has
been made with Increasing confidence
aud II is now given ont that the plan
which the president has ia mini will
be divulged in all It's details At the
regular session Of congress. Speaking
of this matter, the ST. Louis Republic
comments as iollows;
".rhere is one very striking eireum-
stance in relation TO the money mat
ter and that is that whatever hints OF
the proposed policy have been given,
IT is quite evident that it tallies absc-
lutely with the line laid down for
President Cleveland. but which he
didn't have strength enough to push
through. THIS Circumstance alone
will leave no doubt in the public mind
that President Mckinley has sure
enough financial policy He has
already shown in the IL after Of the
tariff that in order to accomplish his
purposes he is willing to follow in the
footsteps Of his predecessor and use
the appointments at his disposal for
the purpose of coerclng the senate and
house into doing his bidding.
"rhe country is therefore again on
the eve Of struggle which will shake
II TO the center The last election has
made 1t apparent to the moneyed men
Of the country that they can never
again face the people in an election on
the question OF the currency. For this
reason they will a. once concentrate
all their forces TO push the matter
through congress at the opening OF the
regular session. The coming fight
will have essentially the same OBJ
jeets IN view as had the historical fight
with Jackson. The purpose OF the
money power at that time was TO Sc
cure 10 the banking interests the con.
troll OF the currency OF the country.
Their success would then have meant,
As IL would mean now, the practical
people. We observe a growing predis-
position on the part Of the capitalistie
press Ia favor Of the Canadian curI ency
syztem. Elasticity is now thei, great
dissideratum. They point cut that
uuder the system which prevails in
Canada the banks expand their eur.
rency whenever a MOVEMENT Of n {
crops requires more tnan the normal
amount OF money. The moment the
necessity for the use OF al ihordinate
quantity Of currency has departed, il
Is recalled frol -'-"ulation and nor.
NAL conditions are me, by normal
monetary supply.
theoretically this is very beautiful
indeed. but the moment such power
is transferred to The banks OF this
country, what power is to prevent
them from contracting or expanding
the currency 10 suit their own selfish
purposes9 The moment they had this
power the dullest intellect may grasT
the consequences TO the poor debtor
and those who are not financially Sc
liked as to be in great measure inde
pendent. Over sixty years ago the
people Of this country learned the val
liable lesson that the making and con
troll OF the money supply must abso-
lutely remain al exclusive govern
ment function. Every thing which has
occurred 10 the past four years has
only served TO impress upon the peo
pie this lesson originally learned a
such cost Che Canad an system
may do FOR Canada, just as the pecu
liar Bank OF England system salts the
British conditions, but in the United
States we face different exigencies ano
one OF the chiefest dangerb which con
front us Is the building up Of an unre
strained money oligarcy which will
have the masses Of the people al tbeii
mercy. The people are not going tc
tie themselves hand and foot now thai
their eyes arr open. The battle royal
will soon be on and no matter how
fierce the struggle, we have the ut
most confidence that In its ultimate
outcome The people will win.