The record-union., 1898-02-16

S]OTI1OuS SuHeTlDS. lie udtioHe1i
banks are not to be required to redeem
their notes in gold, but it is arranged
that the National Government shall do
SO On demand, and after doing so. the
Government must be content to have
the national banks reimburse it in any
kind of legal tender money at the option
of the banks
I'VE are frankly told that lawful
money will be made relatively scarcer
than it is now, and that it is intended
that under the operation of the bill it
will be easier to get gold than lawful
money.
Practically all the money in the
hands of people now, as the Secretary
distinctly admits, is in silver chiefly in
the form of silver certificates, so the
avowed purpose OF the bill is to make
it hereafter more difficult to get these
than gold.
The monetary commission selected
by the Executive Committee of self
constituted Indianapolis. convention.
which assembled for the express pur-
pose of the establishing of the gold
standard, have also made report and
promulgated a bill. the provisions OF
which are SO strikingly like the proposi-
tons of the Secretary of the Treasury in
all material particulars as to suggest
that they were compared and harmon
lied before either was given to the pub
lie This report and bill are somewhat
holder in the assertion of the purposes
entertained than is even the proposition
of Mr. Gage. These distinctly propose
that the silver dollars shall not hereafter
be coined that standard silver dollars
Shall be redeemed in gold: that the sill
Yer bullion on hand at present shall be
sold, and suggest that silver dollars
may also be melted down and sold as
bullion. We are assured that the notes
of the banks cannot fail to be safe be-
cause. being based upon all the resources
OF all the banks issuing them they are
based upon the whole business of the
country.
Certainly no bank will become la
bic for the notes issued by another
bank over which it has no control or
supervision: hence this scheme must
contemplate the establishment of some
central bank authority, having the alb
solute control of the issue of all paper
money-a great bank trust, pool or syn
dictate, with powers such as no man
has ever before had the audacity to
suggest.
This committee has called upon
commercial bodies all over the coun-
| try to indOrse their report. Thus the
people are put upon full notice of what
is intended, and of the means of its ac-
cOmplishment. Considering all this, is
it any wonder that the Spectator enc
of the great English newspapers. should
say, as it did some months since:
-" Being audacious beyond Old World
experience, the great capitalists of
America are determined to capture free
opinion and to prevent criticism. They
substitute puipits. they buy the press,
they seal their well-paid attorneys in
the United States Senate and at length,
they stretch their hands over the COL
leges which it is easy to capture by
examples of generosity. Thus their
design is to prevent any effective ac-
ton which shall in any way weaken
their authority or undermine their po-
sition. Their object cannot be mere
wealth. making. for they already enjoy
wealth beyond the dreams of avarice.
apparently their intention is first
to convert the United States into a
powerful oligarchy, and then to extend
the sway of that oligrachy over other
lands
1T is reserved for the free" West
to dismiss from academic services tried
and competent teachers at the bidding
of rings of millionaireS, who Will not
hear one single criticism or question
ing of the justice or necessity of their
doings or Of the character and ten
dency OF the trusts they have built up
with the aid and a the expense of the
public The divine right of kings is
to be succeeded by the divine right Of
millionaires. who are to run everything,
including the American Senate and the
conscience and intellect Of University
Professors.
= 1t is none of our duty to say how
the American people shall deal with the
portentous growth of that money pow
er, which overshadows the institutions
of the republic. But we think that the
rich men Of America are revealing such
a deadly plot against all genuine pub
lie freedom that, unless we are mis-
taken, the opening years of the new
century will witness an outburst in the
West which will amaze the civilized
world
In view of the great principles in
volved and OF the danger so close at
hand we urge the people everywhere to
arouse themselves, and at once to take
steps to save themselves and their chill
dren from the letters now being open
~ forged to bind them. In recent
years there have been a number of in
Stances of Congressional districts where
the advocates of gold and monopoly
were largely outnumbered by their op-
ponen'ts. and nevertheless, by fall
ure 10 unite and act together, friends
of the gold standard have been success
full. Thus as the result of a personal
or partisan wrangle, the cause of truth
and Justice has been oyershadowed, the
interest Of humanity ignored and the
greatest good to the Government sub
ordinated 10 an ignoble strife. We APP
peal 10 you, let this not be the case
again Our only danger is in division.
If we are in earnest. we must have
harmony amongst ourselves. If there
should be those who would divide us,
let them be summary and emphatical-
IL rebuked by the people who have
meme but high and patriotic motives.
AFTER the bold declaration of the
administration in favor of the gold
standard. no sincere bimetallist can
eyer again. by his vote or influence
give aid or encouragement to the Re
publican party The issue is joined;
we cannot avoid it If We would. Either
the friends of bimetallism or the advo
Gates Of the gold standard trusts and
monopolists must succeed. Who is not
for us is against US. We are asking
no man to abandon his party or change
his politics: We ask no one to yield any
principle: but in this great contest we