The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-02-05

or the nation into their hands absolute
y. Such legislation, he warns the Re
publican leaders in congress. may de-
stroy party and nation" out of con
sideration for the farmer. he says that
amy party allying itself with money
power in reality or strong appearance,
insures defeat for itself"
Q g .
Furthermore. he calls attention to
the fact that hunoreds of thousands of
greenbackers and believers in intelna-
tional bimetallism voted for Mr. Nc
Kinley in 1886 because they believed in
protection and doubted the assertion
that his administration would repudiate
the best money in the world" as it
does in this bill He says again:
Now that protection has come and can
not be dislodged so long as Republicans
control the senate. the allegiance of these
western Republicans To the Republican
party sits lightly on their shoulders. They
have come 10 believe the greenback cur
rency the best money in the world
good as gold. and far more convenient.
Touch the greenback circulation and you
touch the apple Of their eye. This may
be called largely a sentiment, but IL
must be borne i'm mind THAI sentiment is
one OF the strongest political forces in The
WOFid-One of the hardest to combat. The
provision in the house lin for the with
draT2l Of the greenback circulation and
the substitution therefor of gold viii
ALLEVIATE the lifelong greenb3ckers. includ-
ing thousands of silver Republicans. and
lead them to the support OF Bryan ia 1880
The free silver and greenback Republic
cans are numerous IN Ohio, Indiana Illi-
nOiS, Wisconsin. Iowa and Kansas. whose
votes are essential to Republican success
The presidential election The
bill which has passed the house might
better he styled An act TO drive 20, COO
Republicans cut Of the party, and to IA
cIlitate the election of William j. Bryan.
So far as the welfare of the nation is
concerned-and the professor with all
his anxiety for AIcKinley's success.
deigns. to give 1t a parting glance-he
makes bold to say:
Put IL as you may, the policy of with
drawing the three hundred and fOrty-siX
millions of gTeenbacks from circulation,
and substituting gold therefor. is policy
of contraction. for the simple reason that
greenbackS circulate and gold does not.
Greenbacks float freely upon the surface
of the sea of business; gold sinks into
bank vaults and neStles in the depths of
old stockings. The banks viii tell you
that people don't want gold for daily per
S0nsu use. They greatly prefer paper. 1t
is clear that any considerable retirement
of sTeenbacks would be felt in the bust
ness community as a contraction Of the
currency and an embarrassment to bust
ness.
This isn't the worst feature of the
bill "Of all the preDOsterous financial
heresies ever sprung in congress-" he
regards the proposition to extend the
powers of the secretary of the treasury
the worst, evidently forgetful of the
fact that this is an answer to a special
request of the president contained in
his last message to congress. the
most indefensible feature of this house
BILL" says Professor WincheI, lis that
which confers authority upon the sec
rotary Of the treasury to redeem silver
and silver certificates with gold. Such
an unprecedented step is hard TO char
acterize. With a secretary of the treas
ury subject to the influence of Mr..
Bryan, it is easy TO foresee what would
be the fate of any gold which might
remain in the treasury after the i'm
pounding Of all the greenbacks."
q g .
These are not the criticisms of a free
silVerite; they are the admissions of a
goldbug Of national prominence. These
are not the predictions of a Bryan
man; they are the fears of a strong
supporter and well wisher Of McKin-
ley. These are not denunciations of the
sO-called currency reform measure;
they are the admonitions of a rock
ribbed Republican who trembles for
his party
But does Professor Winchell or any
other administration adhereat have the
leasr idea that the money power with
headquarters in London and a branch
Office in Wall street, viii cease to de-
mand its pound of flesh, no matter
how the public WinceS2