The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-24


party more openly espoused gold moro
metallism
'.In 1896 the reform forces charged the
Republican party with intending TO retire
the greeEbacts. This charge, denied at
that time has been confessed By the inan-
cial bill. which converts greeneacks, when
once redeemed. into gold certificates, and
extends new privileges to banks of ISSUE
II a Populist opposed the Republican party
when its hostility to greenbaeks was only
suspected, that opposition should he
greater now, since no one can Longer doubt
she purpose of the Republican party to
substitute bank notes for gresnbacks.
1T is true that the Populists bslisve in
an irredeemable greenback, while the
Democrats believe in a greenhack redeem
able in coin; but the vital issue at this
time, SC far as paper money is concerned,
is whether government or banks shall
issue it. There viii be time enough to
discuss the redeemability OF the gr5 enhack
when the greerbsck itself is saved from
the annihilation which now threatens it.
The Republican party is now committed
to currency system which necessitates
perpetual debt, while a Popuiist finds him
self in agreement with the Democrats. who
believe in paying off the national debt as
rapidly as possible.
IF belief in an income tax justified a
Populist in acting with the Democratic
party in 1896. what excuse can he find for
aiding the Republican party now, when
even the exigencies of war have not been
sufficient to bring that party to the sup
port of the income tax principle?
Reasons for Cooperation.
''Populists believe in arbitration now
a. they did in 1896, and are as much OPP
posed to government by Injunction and
the blacklist as they were then, and upon
these subjects they have as much reason
for cooperation with the Democratic par
ty today as they had four years ago.
Democrats and Populists alike favor
the principle of direct legislation. If any
differences exist as to the extent to which
the principle should be applied, these diff
fereRces can be reeonciled by experiment
Democrats and Populists agree that
Chinese and other Oriental labor should
be excluded from the United States.
Democrats ard P9pulists desire to SO
enlarge the scope Of the Interstate Com
meree act as to enable the commission to
protect both persons and places from dis
criminations. and the public at large from
excessive railroad rates.
The Populists approve the demands set
form in the Democratic platform for
labor bureau, with a Cabinet officer at its
head Such an official would keep the
Administration in close touch with the
wage earning portion of the population
and go far toward securing such remedial
Legislation as the toilers need.
'In 1896 the Populists united with the
Democrats in opposing the trusts, although
the question at that time appeared like
cloud scarcely larger than mans hand.
Today that cloud well nigh everspreads
the industrial sky. The farmer does not
participate in the profits Of any trust, but
he eorely feels the burden Of them all.
He is dependent upon the secson for his
income. When he plants his crop he knows
not whether It VIII be blessed with rain
or blighted with drought; he knows not
whether wind viii blow it down OF hail
destroy it. or insects devour it, and the
price Of his crop is as uncertain as the
quantity. If a private monopoly can sus-
pend production and fix the price of raw
material as well as the price OF the finish
ed product the farmer, poweriess to pro-
teet himself when he sells, is plundered
when be purchases. Can any farmer hesi-
tate to throw the influence Of his ballot
upon the side of those who desire to pro-
tect the public at large from monopoly?
The fact that the trusts support the
Republican party ought to be sufficient
proof that they expect protection from it.
Hand and Glove With Trusts
''The Republican party cannot be relied
upon to extinguish the trusts so long as
it draws its campaign contributions from
their overlooking vaults.
The prosperity argument which the Re-
publiears bring forward to answer all con-
plants against the Admin istration will rot
deceive the farmer. Ee knows that txo
factors enter into his income. First. the
size of the crop. and second, the price which
he receives for the same. He does not
return thanks to the party IN power for
favorable weather and a hountiful har-
vest, and he kgows that the Republican
party has NJ policy which ensures a Pc
manent inersase in agricultural p-fces
Since he sells his surplus in a foreign
market, he is not a beneficiary OF the
tariff; and since he produces merchandise
and Hot money, he Goes ret profit b. the
appreciation Of the dollar. He knows that
the much yauated prosperity Of which he
has never had his share Is on the wans, in
spite Of tie unusual and unnatural stimu-
lation which it has received during the last
three years. He knows that each month
of 1900 shows a larger number OF failures
than the corresponding month OF 1888, and
that there is already a marked tendency
toward decrease in tie output of the
factories.
He knows. also. that the discoveries of
continents have not been able TO raise tie
price Of farm products as rapidly as trusts
and combinations have raised the prce
OF the things which the farmer buys. Our
opponents have tried to make It appe ar
that We are inconsistent when we desire
a general rise in prices, and yet oppose IN
arbitrary rise in protected manufactures
or trust-made goods. There is no conflict
whatever between these two propositious
Z a in N.oa
of a permanent increase in the volume CT
money. all things adjust themselves to tee
new level, and II the volume of money
then increases in proportion 10 the d.
mand fog money the price level remairs
the same and business can be done with
fairness TO all.
The Prosperity Dilemma.
"H however. the rise is arbitrary. and
affects only a part Of the products of
labor. those whose products do not par
tieipate in the rise suffer because the
purchasing power OF their income is de-
creased. If a bad monetary system drags
down the price Of the farmers products
while monoDolies raise the prices Of what
he buys, he burns the candle at both
ends and must expect to suffer in COM
parison with those who belong 10 the
classes more favored by legislation.
1T is sometimes urged by partisan
Populists that four years more OF RepUb-
lican misrule would so aggravate eco
nomic conditions as to make reforms
easier. No one can afford to aid in max
ing matters worse in the hope of being
able TO make them better afterYard
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