The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-01-26

Ou6O VI AO6IC, Uul IuC uldu Iudl WOuIU
hew out new and safe pathway neels
not only to be wise, but to be patient
and pay no heed to trust fed editors
who tell him in cold English, If he ven
lures to belong to minority party, that
he is the superfluous man.
One word more: Third parties must
grow, change or die. Minorities mat
stay too long minorities, vanish Let
the law OF succession be brought into
play and let some party that has had q
| prominence that it has abused, be re-
duced to the lower rank. 1t can be done
with the two great WIS utilized We
need WISDOM to plan and WORK to
execute,-Advg. Elk, ST. Louis, Mo.
NATIONAL BANK CONSPIRACY.
The national banks are just now en-
gagged in playing another trick on the
American people. They are seeking
more privileges and more power with
less responsibility and more complete
exemption from all burdens imposed by
the government.
They are seeking to avoid the one
per cent tax which the government
charges them for their circulation and
are also wanting the privilege of issu-
ing notes to the full speculative value
of the bonds which are deposited to Sc
cure circulation.
These bonds are the security which
the government holds guaranteeing the
payment of the bank notes, and if notes
could be issued on the basis of quota
lions in the market, there is no telling
what might be the result.
The wild cat speculations OF former
years would pale into nothingness be-
side it.
To produce an effect on the minds 0f
congressman, and the business public,
the banks are just now retiring from
circulation a few of their notes.
The amount actually being Withdrawn
is proportionally very light, but the
whole strength of the treasury depart
ment and subsidized press of the coun-
try will for the next few months be
utilized to magnify it into great i'm
portance.
The comptroller of the currency, Mr..
Coffin, this week called attention to the
fact that the retirement OF national
bank notes during the first twenty days
of
100000. This is said to be the first time
that the retirement has reached this
amount in any one month; except in
cases of suspensions which the depart
ment terms involuntary retirement.
Under the national bank act the
United States treasurer is not allowed to
receive for the retirement of circula-
ton more than 100000 in any one
month, and hence all deposits 10 retire
notes during the last ten days Of Decem-
Der must be refused
Mr.. Coffin volunteers the information
that 1t is caused by superb bu"dance
of money and leaves the impression that
this action of the banks is a natural
business transaction, while the facts are
that it is simply forced condition. the
result of a conspiracy by which the
combined power of the banks will be
employed in securing such legislation as
they ask.
Mr.. Coffin expresses the opinion that
the national bank law must he revised
That's the meat in this cocDanut;
that's all there is in it.
Watch out for few months and see
how anxious the banks pretend to be to
retire their notes and just listen to the
howl that will be made by the polite
ians and the old party press, that some
thing must be done to keep their ro:es
in circulation
But not one of them will propose the
true remedy.
Why not let them retire every no.e
they have issued?
For every note they retire issue fill
legal tender greenback
If this policy was adopted this rhase
of the national bank conspiracy would
be ended in three days time
They have no real desire to quit the
business of issuing notes. but they want
to make pretenses and thus secure laws
to their own notion.
IT congress was honest enough to
treat the question right they would be
invited to liquidate and green5acks
would take the place Of every bank note
The national bankers have The most
powerful organization in the world, but
a thorough expose Of this conspiracy
will do much to enlighten the PEOPLE and
lead to public condemnation Of their
ascalities.-Chicago Express