The representative., 1900-10-11

house u Representatives:
8uoA q aoancthe recent bvund asuc9
stands IN strong contrast With The bonds
issued IN -SS s94 xnd Us, when the coun
try was at peace with The world. The
first issue was made by private con.
tract. giving a we'll Rnown synAicate a
profit 0f 3Si100, 600. 1t does seem 60
me that if president elected On Demo-
cratic platform is allowed to issue three
hundred millions OF dollars in bonds in
time of peace, president elected On
a Republican platform might. with per-
feet propriety, be allowed to issue three
hundred millions IN time of war;"
But the Democrats are splendid vot-
ers' when cut OF power, and nothing
can be accomplished Ay it-they are
great reformers when away from the
public crib. So recently they voted
against bonds and for Ereenbacks Even
Senator jones is new posing As tia
great friend Of greenbacks, when In
January, 1895, in the United States SEN
ate. page l248 of the Congressional
Record, he made use of the following
language: -~~'
Now. Mr.. President. the proposition
to retire greenbacks is enc that a good
many persons seem to have some hes
itaacy about. The reason given Is that
the greenbacks are a money of the
people; that is a popular currency
Twenty years ago that was a fact; It
was 10 years ago, but 1t Is not so now. u
THIS was q speech in his bill to sell
bonds for coin with which to retire
greenbacks.
Now let us suppose that instead ot
$4e0.o00.eOo Of bonds as the bill waa
passed. congress had voted to issue
o0,0Oo,00e In greenbacks, the kind oi
greenbacks the Democrats want, coin
redemption greenbacks. 1his money
would have gone into circulation and
made times good for while. Prices
would rise and enterprises be stimu-
lated, as was the case In the war bs-
tween the states, Men would contract
debts rs they do when business is good
and everybody would be feeling fine.
But gradually these greenbacks would
be collected by the money sharks. every
dollar OF them would call for its face
value In coin, according to the Demo-
cratic and Republican idea. when the
money sharks had succeeded In gath
ering most OF them up they would pre-
sent them and demand the coin. But
the government would not have the coin.
Then the men who hold the greenbacks,
and who also hold the coin. would say
to the government "We must have these
notes redeemed to save the nation .
credit" Then the world would pass
down the line and the squirrel tailed
politicians and the sleek tongued law
yers and two-by-four editors would
echo back:
"The Nations Credit" .s
Then the government would issue
bonds, the patriotic tax dodgers and
sound money usurers would bring out
their gold to exchange for bonds, and
the glib metropolitan journals would her
aid to the world In loud and vigorous
headlines about the patriotic RESPONSE
tC the popular loan and another burden
would be added to the unborn genera
tions. This is the endless chain that
Mr.. Cleveland talked about and that
is what coin redemption paper money
means. As much as I desire a raise In
prices, II we are to be blown up in order
t. be busted l. prefer to remain on
bedrock. If 1t is to issue greenbacks
now In order to be followed by contrac-
ton Of the currency in order to return 70
specie payment when the war is over;
II it Is to be repetition OF our expert
cnce In the war between the states, with
all its horrible results, prefer not to
be inflated. But II 1t is to Issue $780,
100000 OF such paper money as the Pop
ulists want, a money whose redeemer is
in the hands Of the people and millions
of dollars of it being produced every
day and billions every year; redeemer
that cannot be cornered by all the wealth
of Wall and Lombard streets, a money
based upon all the gold and silver In the
banks and all the metals in the mines,
on the waving seas of grain and the cat
tie ON a thousand hills: then, 1 say, let
us have such an issue, and, like the
waters of Meribah. it will go out over the
land to put new life in the hearts OF
the people. .--....
Now, let me say to the Populists here
and the Democrats who really care more
for prosperity than they do for their
party, let Democrats 'and Republicans
cling to their idol Of redemption. paper
money, and you come with us under the
Populist banner, a banner that repre-
sents money for the pople and not for
the greedy sharks of Wall street.
Coin redemption 10 the greatest fraud of
the age. and would not be sustained an
hour were it not fer the influence Of the
bankers and brokers and bpliionists-
the class OF men that Christ drove from
the temple-since the days Of Ahfaham.
l have spoken at length ON the position
which the Democratic party occupies
on this position because l consider it
a greater impedimeat to the attainment
of necessary reform measures than the
Republican party. Between tie Repnbli-
can party and the PEOPLES Dartv every