The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-16

nrnhed from the earth surely the prcsen
Dolby avowed scheme. not Only 10 con
,lnue, put 10 increase these evils win not 1,
permitted In addition to this purpose q
moro thoroughly establishing the vol
standard the plan Of the administrator
10 retire the paper money OF the govern
n,ent. TO issue gold bonds and e incrsas
lhe power, privileges and profits of tn
National banks.
The retirement of the government pape
money must reduce. the volume of circua
non and while the secretary admits TIM
the contraction of the currency wntld u,
more rrinous IN. two years than intere,
on the like amount OF bonds for forls
years would be. he calmly Informs II.
that the National banks Will probably issn,
sufficient amount OF money to prevent
this enormous suffering
me National banks are not to be re-
CURED to redeem their notes In gold, but II
Is arranged that the United States govern
ment shall do so orr-~s,nand after having
done so. the government must be content
TO nave the National banks reimburse IL In
any Kind of legal tender money at the OPP
tion of the banks.
We are frankly told that lawful money
! VIII be made relatively scarcer Than it /;
now and that it is ATTENDED that under
| the operation of the bill 1t twill be easier
L
| Practically all of the money in the hands
| OF the people now, as the secretary dts
inctly admits. is silver, chiefly in the form
| of silver certificates. The avowed purpose
| OF the bill is to make it hereafter more
difficult to get these than gold. the mon
etary commission. selected by the executive
committee of sef-constituted Indianap-
oils convention which assembled inr the
express purpose of establishing he gold
standard, have also made report and pro-
mulgated a bill. the provisions Of which
are so strikingly like the propositions OF
the secretary of the treasury. in all ma
tefal particulars, as to suggest that they
were compared AMI hnrinonized before
either was given TO the public. This report
ard bill are somewhat more boil in the
assertions OF the PURPOSES entertained than
IL even the proposition of Mr.. Gage. These
distinctly propose that silver dollars shall
not hereafter be coined. That standard
silver dollars shall be redeemed in gold;
that the silver bullion on hand at present
shall be sold. and suggests that silver dol
lars may also be melted down and sold as
bullion. We are assured that the notes OF
the banks can not fail to be safe because
being based on ell the resources of all the
banks issuing them they are based upon the
whole business of the country
Certainly no bank will become liable for
the notes issued by another bank over which
il has no control or supervision hence this
scheme must contemplate the establishment
of some central bank authority having the
absolute control of the issue of all paper
money--a great 1auk trust, POOL or syndt-
cate, with powers which no man has ever
had the audacity to suggest. The commit
tee has called upon commercial bodies all
over the country to assemble and lndorse
their report. Thus tho people are nut ipon
full notice of what is intended aud of the
means of its accomplishment.
CONSOLIDATING al this IL any wonder that
the Spectator. one of the great Engiish
newspapers. should say. as it did come
months since:
Being audacicus beyond any old world
experience, the great capitalists OF America
are determined 10 capture free option and
pits; they buv the press: they Use at their
will paid attorneys in the United States
senate and at length they stretch their
hands over the colleges. which it is easy
To capture nv examples of generosity.
THUS their design is to prevent any eff
fective action which shall in any way
weaken their authority or undermine their
position. Their object can not be mere
wealth making, for they already enjoy
wealth beyond the dreams OF avarlcc. APP
parently their intention is sirst. to convert
the United States into a powerful oliglrehy
and then to extend the sway OF that on
garchy oyer other lands
1t is reserved for the free" West to |
dismiss from academic service tried and |
competent teachers at the bidding OF rings
of mllionaires who will not hear one single |
criticism or questioning of the justice or
necessity of their doings or of the char
acter and tendency of the trusts they have |
built with the aid and with the expense |
of the public. The divine right OF kings is
to be succeeded by the divine right OF |
millionaires who are 10 run everything, |
including the American senate and the !
conscience and intellect of university pro-
fessors.
1t is none of our duty to say how the |
American people shall deal with the por-
tentous growth OF that money power which
overshadows the institution of the repub-
lie. but we think that The rich men oil
America are revealing such a deadly plot
against all genuine public freedom that
unless we are mistaken the opening years
of the new century will witness an cut
burst in the West which will amaze the
civilized world
In view of the great principles involved
and OF the danger SO close at hand we urge
people everywhere to arouse themselves /
and at once take steps TO siye themselves
and their children from the letters now
being openly forged TO bind them In re.
cent years there have been number oil
instances of congressional districts where |
the advocates of gold and monopoly were /
largely outnumbered by their opponents
and where nevertheless by failure 10 !
unite and act together friends of the gold
standard have been successful. Thus. as
the result of personal or partisan
the cause OF truth and justice
has been overshadowed. the interest CT
ignored and the greatest good
to the government subordinated to an ig-
noble strife. We appeal 10 You 10 let
this NOT be the case again. Our only danger
Is in division. If we are In earnest we
must have harmony among ourselves. II
there should be those who would divide
is. let them be summarlly and emphatic
MY rebuked by the people who have none
out high and patriotic motives, After inc
bold declaration of the administration 10
javor Of the gold standard no sincere BIZ
ne,ai.ist can ever again, b. his vote or
influence, give aid or announcement 70 Tue
-epubl.can party.
The issue Is Joined. we can not avoid "
I we would Either the friends Of bimei-
,llism or the advocates OF the gold stand
.rd trusts and monopoliss must succeed. /
Who Is not for us is against US. We are /
skiing no man TO abandon his party or I
IL M ,