Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1902-12-04
ASSET CURRENCY
A WALL STREET SCHEME FOR
CURRENCY "REFORM."
Bankers win Not Let the Money Question
Rest. Agitation Begins. - Usual. After
Election. A Commission Wanted 10 A..
range . Currency Scheme.

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Election. A Commission Wanted 10 A..
range q Currency Scheme.
Hearst's New York American, in 70.
cent issue, contains financial item Of
interest to the readers of the HERALD.
1t says: Zone Of the important moves
in financial circles which has developed
since the election is the effort to bring
about a change in the fiscal system Of
the government. There is significance
in its further remark that "before the
election this matter was not serious.
ly discussed, because the bankers did
not wish to have it brought in for cam
paign discussion, preferring to have the
matter taken up by congress without
any previous expression of opinion by
the constituents of the various legisla-
TORS"
The paragraphs abose quoted disclose
the methods employed by the financiers.
All # their important moves" are made
just after an election. Trey ALWAYS pre-.
fer "to have the matter taken up by
congress without any previous express
sions of opinion by the constituents O.
the various legislators" Why is this?
The answer is so plain that it is strange
that any can be deceived. 1t is because
the financiers are not willing to take the
people into their confidence or let them
know what is intended in financial mat
tiers. They studiously conceal from the
nublic knowledge of their plans. They
set up conventions, and, then after se-
curing the election of men seeretely
pledged to them they come out and use
the instrumentalities of government to
advance the pecuniary ends.
That the rank and file of the republic
can party should submit quitely to such
impositions is more than amazing, and
yet for more than twenty years repub.
lican leaders have acted in coalition with
the money changers and carried out tn
plans formulated in the council s6dai1s
bers of the great banking houses.
The American proceeds to cay:
"The first gun in this campaign was
the speech Of Jacob Schiff, Of the bank
ing firm of Kuhn, Loeb & Co., before the
New York chamber of commerce. This
declaration of principles was decided up.
on at informal conferences between
some Of the most important banking in
terests of the country. In order that
the discussion may not be too personal
in character, it is proposed to have the
various trade organizations throughout
the country adopt resolutions asking for
currency reform. 1t is likely that q
commission will be appointed consisting
of various representatives of the trade
organizations, to formulate a plan which
will be presented to congress at the
coming session. In the furtherance of
this plan Frank K. Sturgis, of the firm
of strong, Sturgis & Co., of the stock ex-
change, has gone in Chicago to interest
the trade organizations of that city in
the general movement"
The plans are first decided upon by a
conference between "the important
interests" and then in order to conceal
the character of the movement-to pre-
vent its being "too personal"-the vari
GUS trade interests are to be coerced into
the adoption of resolutions asking for
ours ency reform. To still further de.
ceive the people it is proposed to appoint
commission to consist of representa-
tives of various trade organizations. The
ostensible purpose of such commission
will be to formulate plan to be presen-
ted to congress, but the actual purpose
will be to act as a cloak for the plans al
ready made.
The principal aim OF the bankers is to
secure some kind of asset currency
which they call flexible. but the trouble
with this elastic currency is that the
bankers want to hold both ends of the
elastic and be able at any time to expand
or contract it. This may be all right for
the bankers. but it is not safe for the
people because the value of their pro.
perty is effected by an increase or de.
crease in the volume of money, and the
fnanciers cannot be trusted with such
almost omnipotent power.
Having insisted that the money ques.
ton should not be considered during the
campaign, the recognizing element Of
the democratic party 10 now in position
10 take an active part in forcing through
the scheme of the fnanciers. The cor.
poration democrats who were 90 IN.
xious to confne the campaign to the
tariff issue knew perfectly we'll that
financial legislation WAS desired and In.
tended by the banking interests and yet
they willingly Joined In the effort to do.
ceive the voters. On the money ques.
ton they are with the republican both
in principle and in method and they