The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-06-08
CURRENCY "REFORM"
As She Is Practiced by Financial
Thugs-Republican Tinkering WITH
the Money. a
(Schilling's Advance.)

(Schilling's Advance)
'HOw much population has England?"
was asked, and Carlisle replied, tartly
and cynically, Thirty millions mostly
fools.''
We could not change that answer
concerning our own country, unless wa
increased the number.
We are moved to these remarks, as
the preacher would say, by reading the
report of the Washington correspond
ent of the Milwaukee Sentinel on the
action of the Republican caucus com-
mittee on currency reform.
The Republicans in congress met in
caucus and appointed a committee from
the senate and the house, who were to
meet at Atlantic City, highly fashions
able watering place, and draft bill on
currency reform God save the nlark!)
This committee has completed it's work,
and the Sentinel correspondent pumped
Joey" Babcock as to it's action. And
joey delivered himself in this dignified
and bombastic manner:
"All that I can say respecting the
work performed is that the work, when
made public, will be satisfactory to the
sound-money men Of all political faiths
in this country. The conclusions Of
the committee will be gratifying to the
people of Wisconsin, and especially to
those in the state who are directly inter-
ested in the money question, such as the
bankers and financiers. Beyond this
am not at liberty at present to speak.
We have concluded our labors, but be-
fore the results of our conferences are
made public they must first be presented
to the Republican members of the SEM
ate finance committee. 1 am personally
pleased with the work, and believe the
sound-money men of the country will
be gratiied when they see the re.
port
But notwithstanding Babcock's secre-
tiveness, the correspondent must have
obtained from him what the scribe
wanted, as further on he says:
"It may be said that the plan, as it
now stands, will expressly indorse the
gold standard, but in what terms cans
not, of course, be learned. Provision
will be made for increasing the issue
of greenback notes, for which there has
been SO much demand of late, by limit
ing the issues of silver certificates to
small denominations of S. or less, in
stead of in the large denominations in
which the certificates are now issued.
While no discrimination will be made
in any forms of the nations money, and
the distinctive feature of the bill will
be to preserve the parity of all kinds
of money, the plan will in some way
provide for caring for the legal-tender
obligations of the government so as to
prevent their use in drawing gold from
the treasury, locking them up to be paid
out for gold only when they are once
redeemed in gold. The provision so
often favorably reported in both houses
of congress for increasing national bank
notes up to the par value of bonds de-
posted with reduction in the tax
upon such note issues, will be provided
for, and banks of issue, with capital
stock aggregating $4,000, will be au-
thorized, to meet the demands of the
rural districts"
There you have the whole beautiful
reform!
Destruction of legal-tender notes by
providing for their practical withdrawal
~
the treasury vaults, and bankers to get
full pay for their bonds. instead of only
80 per cent as now, with the privilege Of
keeping the bonds, drawing interest on
the full amount, after they have their
face value in bank notes, and no taxes
to pay "to state or local authorities.''
bankers and financiers can be devised,
let us know what it is.
Seventy millions-mostly FOOLS"