The representative., 1899-03-15
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to become the butt of the nation.
mttee, headed by Milton Park. either
make move to relieve the tension of the
situation, or let them resign. The situation
requires men of nerve and courage. We
can stand honorable defeat, but we cannot
is just what it is rapidly coming to under
simply binding our own candidates hand
a chance to beat out their brains. Justice
to Messrs. Barker and Donnelly requires
that they be informed at once what Is to
thrown over for a Butler-Bryan dummy
they should know it now when they can
preserve their self-respect by retiring Of
L. c. Bateman
Auburn. Me.
AN INTERESTING LETTER.
The Fall in Prices. Causes and Conse-
Quences.
l would like space In the Representative
structive article on silver and greenbacks,
In the issue of Jan. 1S. Those who do not
understand how niue the questions of
financial question of the country can get
a good insight on this point by studying
closely Mr. Wsite's article: Populists who
will feel grateful to Mr.. Waite for his
convincing arguments in favor of a gov
ernment paper currency.
When I returned from the war in 1865.
and for some years thereafter, l was ig
norant on the question of finance and cur
rency, like the ma jOrity of the people who
left all the hard questions for the pOlitici
ans to fix up to suit themselves and their
advisers, while we We're contented to do
the yelling and voting. But for some years
past | have been trying to answer for my
self questions like the following
1st.-Why was it necessary in 1866 to 1870
for the government to destroy nearly two
billion dollars of greenback currency,
which the people needed and were then
amount in interest bonds which the people
did not want and could not use. Did the
people demand any such action? Who did
demand and secure the legislation for the
act? The bankers and money loaners.
2nd.-How could the credit of the gov
greenbacks, and be improved by the issue
of bonds, when the obligation OF the gov
ernment was increased two or threefold
the bonds To-wit: Had the two billion
dollars in greenbacks in circulation in 1866
remained in circulation to the present
people but the original amount of two
billion dollars, but by the issue Of the same
amount in bonds bearing interest at per
have paid over three billion dollars in in
terest the bonds and still owed the
THIS Hho'e debt f'sa Of over ef five billion d Collars Of
bonds and interest be a less burden, less
strain on the credit of the government
than debt of two billion dollars of green
ernment strengthened by substituting a
bonded debt Of five billion dollars in place
of greenback or currency debt of two
billion dollars? Does not the credit OF an
individual become more impaired as he be-
comes more deeply involved in debt, and
does not this theory hold good with the
government. or is it reversed when it re-
lates to government obligations?
3rd.-Had the whole amount of govern
ment paper money issued during the war
amounting to about two billion eight hum
dred million dollars, been continued in cir
culation to the present time, and not a
dollar of bonded debt created. would not
the people who have since then been taxed
to pay the interest on bonds, amounting to
about three billion dollars, be that much
better off financially than they now are?
And if these same people could have had
the use Of all this ne1d npa
use have prevented the necessity of their
borrowing about double this amount from
interest paid on this borrowed capital?
4th.-As it at least seems to be fact
that productive industry has been taxed
to the amount of five or six billion dollars
to pay interest to bondholders. and other
money loaners as a direct result of the
destruction of the government currency,
includes all productive labor. now be this
much better off financially all this un-
hands? And. further still, if the producers
of wealth could have had the use of all
this money for the past twenty-five years,
would not the gain in profit from its use
wealth. and thus added immeasurably to
the general prosperity of the masses and
have been much greater benefit to the
nation, than has been the established
policy in practice of taxing the masses OF
/ the people to add billions Of the increased
/ gain in wealth to the fortunes of few
I favored rich, who constitute about two
per cent of the total population
| 5th.-Can there be any true wisdom or
sound craftsmanship in supporting and
continuing a bond issuing policy by this
government which robs all the productive
energy of the country of its prosperity for
the especial benefit of a very small. IA
vored class of money loaning capitalists:
Is the prosperity of this two per cent OF
than the prosperity of the balance of the
people, that they must be favored with
special class laws to enable them to tax
the masses down to the lowest levels OF
poverty? This has been the aim and re-
| suit of all the bond-issuing schemes Of the
past and is the aim Of the scheming of the
| present congress and administration In the
ures enacted into law before the people
can get another chance to vote on the
question. They want to force through 6
measure. that will again tax the masses
loaning class. To force one hundred la
boring wealth producers to deliver ovel
all the wealth they can produce, to IN
crease the fortunes OF two interest grab
in congress or outside Of that body supper
such measures? Will not such support b.
treason to the people?
ton will answer the above questions fully
and honestly, 1 will be under lasting obli
cations to them. II. 3.
Deal with Representative advertisers
They are reliable as far as we know ano
will treat you WE'LL