Daily capital journal. (Salem, Or.) 1896-1899, 1897-04-13
EDgToz1AL

fkzt t5s fsr1i1E s-aies l2fe -
nsooey esoexh. ttzt sa.aH brsnct
kanks oozbt ~ y esfst&ist,s5 is
srerT little t0so, asd the srzs13sIi
sssus u - that y ths nstlo1sl
bank f. . zood tbisz - ouzat -
have ra0rs oflt.
Aeoompasgloz taes @ersuia5s
asa,st the szrcitg q a.ooeT. sd tn
faz5sq1seg q tls prs.ent lanxinz
sys,su.lsz oeuss5 fDF ~zooeliatloo-of
re pse-ent co5o trezs1ry notes, re
reslrenen; y the grssatsek aoo
tsklsx % tbs silver csT1l1e1tes u ~
snrssat q 6gn.1rs5s u mililoas- TIE
slmple prorseitios j. - oo1trsct .tle
noa-intersss tearing cuTency. Toe
zszuaent f5g rstlrsz8ent y the grssr5-
baex sn6 ifezssfy notes is made urn,1
tbs gr,,0Dc that tflese sDseies q ootes
are rally rss5estna5is in cd colo and
en- h,- 8ses n 6rsH the god az q
tie trszsg-y Nth. That j. n 6o11S
tree ~ tDnz a. the zDTerDDeot az
tefes D. tbs siozIs sDl5 standard
psiry. II gol6 sloae IL n be may
ofrnzl rsssersptlOn. ard that is shat
fgs osgple pOse5 for 10 elseilng Nc
Rfsiey. the gFssnDsek and silver eef-
seafs and tFszsgry mites are a
d dsozsrO0s EsavDn 10 tiie hands u the
gold specglz,OFs % make run On the
gold.
Last rear u create distTBst and de-
strvy consdencs they drew out several
hunsred millions u gDld and Presi-
dent Cleveland had 10 borrow sz62,-
600 gOld u meet the drain. At
present the gold syndicate kindly al
lows $1,000. 90 % rep,se 10 the treas
urJ 81 simulate an appearance u con-.
hdebee and not discredit an sdminis-
tratlOn which IL the creature u the
gold syndicate.
81 long a. ne have the gold stand
srd, and the government policy Is 10
dlscredit paper money and silver
mOOey, and limits lis sovereign pre-
rOgatiye over the coinage function tOI
the usc of gold a. money Of redemp-
tioo. ~ long will our country be 10
danger of speculative contraction Of
ia circulating medium ia the interest
Of money gamblers. In the mean
time the cry goes up, that money is
WCefuily scarce 10 the south and west
and that brsncii national banks must
be established 20 relieve tbe suierings
Of the farmers, etc. What rot Do
not these same people tell us that
what the country needs is good money,
not more money. They tell Us that
We need blg crops, more products
~ put money iuto circulation. aud at
the same time propose 70 cancel aud
withdraw more than all their branch
banks will have 70 loan out. And
what good will Il do 10 offer 70 loan
people national bank money on crops
raised at loss, on farms that will
not pay operating expenses, on town
property that can't be reuted
But II II useless 10 tell these facts
to a gold standard advocate. IL Is
useless 20 tell him that unless the rel.
atige volume of primary money is re-
stored 10 the blmetalllc basis, Instead
OF the m0nOmetallic, there can be 40
permanent relief for the producing |
aud debtor class. Prices cannot rise
against the depressing influence ex-
erted by constantly contracting
money standard. A monopoly OF the
money Ia the hands Of the gold hold
Ing syndicate, under sanction OF law
and With az immediate grasp upon
national treasury, Is too much Of
millslone about the neck OF any eoun-
try, no matter what its resources, A
little more bank currency, let out at
high rates Of inteFestzsArough branch
banks, Is only a mockery Instead OF
headway towards a higher
The flooding of the ooun-
iry newspaper offices with literature.
ND plates and editorials in the inter.
st ofcxtendIng the powers of the na. /
ional banks will as inevitably preclp- {
late an anti-bank war now as II did
Jaekson's day, and the people viii
~ alaAin -