Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1898-02-25

55 per cent. had taken place in thu
debt, it had, AS measured in each o
these two world staples, actually beer
enlarged by SO per cent
Although more than half the
principal of this enormous debt ant
every cent of accumulated interes
had been paid by the labor of the
United States, the holders OF the
bonds still hold i claim for more O
the labor of the people than they had
before these enormous payments hao
ever been begun.
"The cruel confiscation of the lives
and liberty of the laboring millions
OF the country is the most stupendous
crime that has been committed in the
annals of civilization. Unless a gov
ernment of the 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 standard, the plan of the ad.
ministration is to retire the paper
money of the government, to issue gold
bonds and to increase the power
privileges and profits of national
banks.
"The retirement of government
paper money must reduce the volume
of circulation, and while the Secretary
admits that the contraction of the
currency would be more ruinous in
two years than interest or 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 pre-
vent this enormous suffering.
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 authority, having
the absolute control of the issue OF all
paper money! great bank trust,
pool or syndicate, with powers such
as no man has ever before had the
to suggest. This committee
has called upon commercial bodies all
over the country to indorse the report.
Thus the people are put upon full no.
tice of what is intended and of the
means of its accomplishment.
considering all this, is it any
wonder that the Spectator, one of the
great English newspapers, should say,
Us it did some months ago:
/" Being audacious beyond all old
world experience, the great capitalists
Of America are determined to capture
free opinion and to prevent criticism.
They subsidize pulpits, they buy the
press, they seat their well-paid attor-
neys in the United States Senate, and
at length they stretch their hands
over the colleges, which it is easy to
capture by examples of generosity.
Thus their design is to prevent any
effective action which shall in any
way weaken their authority Or under
mine their opinion. Their object can
not be mere matchmaking, 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 dig
archy over other lands.
"It is reserved for the free West
to dismiss from academic service tried
and competent teachers at the bid OF
who will not hear one
single criticism, or question the justice
or necessity of their doing so, OF the
character and tendency of the trusts
they have built up at the expense of
the people. The divine right of kings
is to be succeeded by the divine right
of millionaires, who are to run every.
thing, including the American Senate
and the conscience and intellect OF
University Professors. It is none OF
our duty to say how the American
people shall deal with the growth of
that money power 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 public freedom
that, unless we are mistaken, 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 children from the fetters now
being openly forged to bind them. In
recent years there have been q number
Of instances of Congressional districts,
where the advocates of gold and
were largely outnumbered
by their opponents, and, nevertheless,
by failure to unite and act together,
friends of the gold standard have been
successful. Thus, as the result of a
or partisan wrangle, the cause
of truth and justice has been over
showed, the interest Of humanity
ignored, and the greatest deed to the