The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-02-16
IS GETTING LIGHT
A BIG WISCONSIN GOLD BUGS EYES
OPENING.
BEGINS TO SEE THE RAT IN THE
MEAL TUB.
begins to Recognize That 1T Is Not q
Fight as to the Material of Mon
ey, But to Who Is to
Control 1T.
Milwaukee Advance.

son, Wis, Democrat, was one of the
presidential campaign. But 1T seems
that the brazen effrontery of the banks
in demanding the murder of the green
backs, that saved the life of the nation
and the substitution Of bank notes that
are not to be redeemable in gold or even
in silver, has helped to open his eyes.
In letter to the Milwaukee Sentinel
he says:
AS one of those bourbons who, while
decorated with blue uniform, voted
first for Gen. George B. Mcclellan and
for Democratic candidates for president
from that time to 1896, and then for
William Mckinley solely on the cur
rency question; it seems to be in order
for me to enter most vigorous kick
against what The Sentinel and many
other Republican newspapers call re-
forming the currency to maintain the
gold standard. There appears to be a
determined purpose, backed by unlimited
cash, to force upon the Republican party
and country the monetary reform
scheme reported and advocated by the
indianapolis commission. Under this
plan there is no limit upon the number
of banks of issue. Every national and
state and private bank in the country
and twice as many more may organize
under the law and issue notes up to the
full amount of the capital stock After
the brief period shall expire in which
of United States bonds, and the bonds
are withdrawn, the notes will be abso-
lutely without other security than the
assets of the bank In a dozen years there
would probably be in the country from
10000 to $4,000 banks of issue, with from
$1,000 100000 to $4,000, 0oO, 900 of circulate
Ing notes, and only bank assets for Sc
curity
few days ago ex-secretary of the
treasury Fairchild, a member of the
monetary commission, appeared before
currency in advocacy of the commits
sion plan. In answer to q question he
admitted that under the provision of the
commission plan any bank could redeem
notes, when called upon to do so, in sill
yer. Thereupon Congressman Cox, of the
committee, asked, IF bank should in
sist on redeeming it's notes in silver,
and the note-holder wanted gold, would
there be any way to compel the bank to
pay gold?" The ex-secretary said, mo,
but the holder of the note could take
United States treasury and demand gold
for it." What sort of an endless chain
do you call that? How much gold do
you suppose the government would be
required to keep on hand to take care
of such paper currency? What relief
would the government obtain from it's
present burden of maintaining a gold
standard, by such a currency reform?
Does the Sentinel believe the Republican
party can hold the gold standard Demo-
Gratis, or all the Republican voters,
when the party becomes responsible for
this scheme of currency reform, or any
thing like it? Is not this reform so
much worse than the free silver coinage
plan that the latter becomes the very
essence Of honesty in a comparison?
Notwithstanding the eminent fnan-
ciers who conceived and brought forth
this reform scheme, it is justice and
truth to call 1t the most Infamous and
damnable scheme to debauch the cur
rency and ultimately rob the people that
has ever been seriously presented to this
country OF course there is not the
least danger Of such measure passing
this congress, but there are enough in
fluential Republicans and Republican
newspapers supporting the scheme to
cause innumerable gold standard men
to ask themselves if it is not far better
to turn to the free silver coinage cur
rency scheme to escape an infinitely
worse currency. There is not any doubt
but that the silver dollar. or silver GER
tificate, will at all times be worth the
silver bullion in the dollar. No man
can say that this would be true for any
great length of time with the proposed
bank currency. The country knows too
well the inefficiency of both national and
state bank supervision and examinations
Now. Mr.. Editor, it appears that the
Republican party in the next campaign
will stand for some such currency
measure as that of the commission, or
that of Secretary Gage, while the Demo-
cratic party will stand for the free coin
age Of silver. In such a conflict there
cannot by any doubt as to which party
ought to win and certainly no reason
Why Democrats should no longer vote
with the Republican party, on the
ground that it stands for sound cur
rency; for 1T is not true. In that con-
test the Democratic party will favor
an honest currency on a silver basis,
and the Republican party dishonest
currency on a bank fiat. Then no Demo-
tato to tai ,oyty