The herald., 1898-02-16

people. by the people and for the people,
has perished from the earth, surely the
present boldly avowed scheme, not only to
continue. but to increase these evils. Will
not be permitted. In addition to this pur-
pose of more thoroughly establishing the
gold stanard the plan of the administration
is to retire the paper money of the gov
ernment to issue gold bonds, and to in
crease the power, privileges and prohts
of national banks. The retirement of the
government paper money must reduce the
volume of circulation, and while the sec
retary admits that the contraction of the
currency would be more ruinous in two
years than interest on a like amount of
bonds for forty years would be. he calmly
informs us that the national banks will
probably issue a sufficient amount Of
money to prevent this suffering. The
national banks are not to be required to
redeem their notes in gold, but 1t is ar
ranged 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"
We are frankly told that lawful money
will be made relatively scarcer than it is
now" and that 1t is intended that under
the operation of the bill it will be easier
10 get gold than lawful money. Practically
all the money in the hands of the people
now, as the secretary distinctly admits. is
in silver, chiefly in the form of silver cer-
titicates, so the avowed purpose of the bill
is to make 1t hereafter more difficult to
get these than gold.
MONETARY REFORM
The monetary commissions, selected by
the executive committee of a self-consti-
tuted Indianapolis convention which as
sembled for the express purpose of es-
tablishing the gold standard. have also
made a report and promulgated bill. the
provisions of which are so strikingly like
the proposition of the secretary of the
treasury in all material particulars as to
suggest that they were compared and har-
monized before either was given to the
public. This report and bill are somewhat
bolder in the assertion of the purpose en-
tertained than is even the proposition of
Mr.. Gage. These distinctly propose that
silver dollars shall not hereafter be coined;
that standard silver dollars shall be re-
deemed in gold: that the silver 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 because. being based upon
the resources of 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 it has no control or supervision;
hence this scheme must contemplate the
establishment of some central bank au-
thority, having the absolute control of
the issue of all paper money-a great bank
trust. pool or syndicate, with powers such
as no man has ever before had the au-
dacity to suggest.
FULL NOTICE GIVEN
This committee has called upon CONNER
to1 oil tbo 10 it,1a
their report Thus the people are put
upon full notice of what is intended, and
one of the means of its accomplishment.
Considering all this, is it any wonder that
the Spectator, one 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
subsidige pulpits, they buy the press, they |
seat their well paid attorneys in the United |
States senate, and at length they stretch |
their hands over the colonies, which it is |
easy to capture by examples of generos- |
ity. Thus their design is to prevent any |
effective action which shall in any way
weaken their authority or undermine their
position. Their object cannot be mere
matchmaking, for they already enjoy
wealth beyond the dreams of avarice. APP
parently their intention is first to convert
the United States into powerful oligarchy
and then extend the sway of that oligarchy
over other lands.
THE RULE OF RINGS
at is reserved for the free west to dis
miss from academic services tried and
competent teachers at the bidding of rings
of millionaires who will not hear one sin
gle criticism or questioning of the justice
or necessity of their doinss, or of the
character and tendency of the trusts they
have built up with the aid and at the ex-
pense of the public. The divine right of
kings is to be succeeded by the divine
right of milionaires, who are to run every
thing, 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 dead
ly plot against all genuine public freedom
that, unless We are mistaken, the opening |
years of the new century will witness an |
outburst in the west which will amafie |
the civilized world.
1.-THE TIME TO ACT
In view of the great priciples involved
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 children from
the fetters now being openly forged to |
bind them.
In recent years there has been a number
of instances of congressional districts
where the advocates of gold and MONOPOLY
were largely outnumbered by their oppo-
nents, and, nevertheless, by a failure to
unite and act together, friends of the gold
standard have been successful. Thus as
the result of a personal or partisan
wrangle the cause of truth and justice has
been overshadowed, the interest of hu-
manity ignored and the greatest good to
the government subordinated to ignoble
strife. We appeal TO you let this not be
the case again. Our only danger is in di-
vision. If we are in earnest we must have
harmony amongst ourselves. If this should
be the case those who divide them would
be summarily and emphatically rebuked
by the people, who have none but high and
patriotic motives. After the bold declara-
tion of the administration in favor of the
gold standard no sincere bimeallist can
ever again. by his vose or influence give
aid or encouragement to the Republican
party.
THE ISSUE JOINED
The issue is joined so we cannot avoid
IT if we would. Either the friends of bimet
allism are the advocates of the gold stand
ard trusts and monopolies must succeed
Who is not for us is against u.s. We are
asking no man to abandon his party or
change his politics; we ask no one to Weld
any principle; but in this great contest we
90 appeal to all good men to stand solidly
together for liberty and humanity and