The state herald., 1900-02-23

l
the United States Senate made q Gem.
plets surrender to the bond holder,
nsy-lsnding, gold-standard cement
which dominates financial circlss IN the
Rsat. In large degree also it surrsn-
dsrsd to the national banks and took .
long step toward plAcing the tiuanoss Of
the eoun try under the control af few
wealthy and influential bankers.
The bill il q substitute for tho one
passed by the House Of Representatives.
The two measures will bs ssnt to q con.
ference committee and 1t remains to be
seen whether the House Or the Senate
will prevail in the construction Of tho
bill which will, soonsr or later, be passed
by both houses. But the bill which
will be agreed TO II conference will not
differ very materially from the one
passed yesterday, for the Senate bill
does not depart in important particulars
very widely from the one which received
the approval Of the House OF Represent
ativss.
In some respects the worst features Of
this Legislation is the step it involves to-
ward placing the finances Of the nation
In the hands OF the bapks. The Amsri-
can people should submit to nothing OF
that character. They should be too in.
dependent, too sslf.rsspecting, to sur.
render in any respect SO important q
function Of government to an element in
the population which is always
prompted by selfish motives. Expert
encs the world over touches that bank
srs in matters Of this kind are rarely
prompted by motives Of patriotism. All
their views are distorted by their own
selfish Interests. The more they are
entrusted with the control Of financial
and monetary matters OF 3 public nature,
the more will the policy Of the govern
nent be shaped 10 the interest Of the
creditor class and in coufiict With the
interest and welfare OF the producing
class.
10 a speech delivered in the Senate
on the financial bill last month Senator
Teller u.ed the following language:
"Mr. President, this bill ia here dictated
by influences not legislative; and when 1
stand hsre to protest against it, no man
knows better than do that the great
political party in power and dominating
this senate and the country has surrend.
cred Its Judgment and It's conscience to
that outside iutlusuce; and yet that it
will recsive the almost auitsd support Of
that political organization"
II is the existence Of this outside IN.
fuencs upon financial legislation which
is especially to be deplorsd. II leRislA.
ton were determined exclusively by the
dominance Of one party or smother in q
particular session Of Congress-, there
would remain hope thar bad law could
st some later session b. repealed. But
this hops has been disappointed thus fur
in the history Of financial Legislation,
because Of the dominating influence Of
the money power in New York aud other
lsrga citles OF the East. II is this intiu-
sncs which gave form and character to
the bill which pssssd the Senate ysstsr.
day.
Thus IL Is made clear why the bill vss
framed 30 distinctly in the interest Of
the banks. A power which can shape
legislation in its own interest NAV bs
able to maintain It's Ascsndency for
years. 10 this there is menace to th,
rights OF the common people and the
maintenance Of free institutions. It is
sf ali, the mos. gloomy phsss OF the STU.
stios.-Dsnvsr Republican.