The herald-advance. (Milbank, S.D.) 1890-1922, 1902-08-29
Republican Policies INDICATED.

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legislation of the republican
party. From the very inaug-
uration of the party into power
over 40 years ago. its every at
tempt at Legislation has been
opposed and denounced by the
democratic party. In almost
every instance time has justified
the republican policy and proved
that the party legislated for the
interests of the people, and that
the denunciation of it's political
! opponents have proved unwar-
ranted and their predictions of
disaster been unfultilled. These
truths are patent to any one who
can read the political history of
the country for the last forty
years. Particularly have the f.
nancial policies of the party been
condemned and it's promoters
denounced as tools of Wall street
and the money power. tits only
three or four years ago that
populists and democrats were
going into fits in their denuncla-
ton of a proposed banking law
which, Notwithstanding their
opposition was placed upon the
statute books of the country.
We copy from the Review, the
local populist paper, printed in
December, 1899, some excerpts,
showing with what frenzied
alarm the populists viewed the
new banking law. These ex-
tracts were tame in comparison
to some of the articles in the more
rabid blood aud thunder opposi-
ton papers, but they will do to
show how unfounded were the
fears expressed and how silly
they now appear:
The ''Crime of 1873" pales into in
significance when compared with the
financial measure introduced into the
opening day of Congress. The bill is
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tic City in the interest of the national
banks and the greedy monied interests
of the East. 1t out HerOds Herod in
the infamy sought to be perpetratedby
fastening upon the country q gold
purporting to put an end to the So
called s'endless chain'' it creates Q
vastly greater and worse s'endless
chain'' BY which every dollar of gold
can be drained from the treasury, and
for authorizing the secretary of the
treasury to load q still greater burden
of bonded indebtedness upon the coun-
try. It is the old story Of s'bOnds,
bonds, bonds" meaning an increase
in taxation to pay interest. = = =
The rank and file of the Republican
party, and the people at large, are not
asking or demanding q change in the
present currency system, bad as it is
in many respects. As has been stated,
it is only the Eastern monied interests.
A note of warning is sounded to the
Republican leaders in congress. Will
they head it?
If the national and the private state
banks in the smaller towns throughout
the country do not want to be frozen out
of business entirely by the big national
banks and aggregated monied interests,
with New York as the headquarters,
they will lose no time in appealing to
the United States Senate not to pass
the infamous House bill which was
fixed up at Atlantic City last summer
by q few representatives of the great
through the House under gag rule and
81 1nG o~o0 ~ ~,,1o ~ Aoonnnu M~1
fairness. The bankers in the smaller
towns are given fair warning that If
the House bill passes the Senate in it's
present form, it will only be q question
of a comparatively short time before
q great national banking institution
will be established in New York city
which will proceed to establish branch
banks in the smaller cities and towns
of the country. Immediately that these
branch banks are established, the
present small banks will be notified
that their Eastern correspondents no
longer care to keep an account with
them. This means that the country
banks will be cut of from keeping
Eastern deposits against which to draw
drafts, as the whole business will be
done through the branch national
banks established under the new law
which has just passed the House. The
Review sounds this note of warning to
the small bankers who have all along
fancied that their financial interests
were identical with the banking insti-
buttons of the East. The time is very,
very short In which to act, as the
House bill is now before the Senate and
will come up for action Immediately
after the holiday recess. : -
Again the Review urges upon every
country bank, and the whole business
community, to without q moments
delay appeal to the United States
Senate not to confirm this monstrous
and infamous financial crime and
conspiracy.
Act! Act! before another sun goes
down!
This abominable law according
to populism) was passed, and in
stead of driving the small banks
out of existence, the country
bankers are constantly taking
advantage of it's provisions, and
nr~Ooni1inu un6or thic national