The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-04-20
The cuRREhcY BILL.


CONE VERY INTERESTING state
, ments are made in the report OF the !
touse. committee on banking and cur
-encv onythe pending bill to revise the
financial system az the United States
Ia recommending favorable action on
the bin the committee LAYS down o..
anmber Of propositions. which it says
viii meet with the approval Of the ma
.uo-. One object of. the measure is said
tn be 80 lower and cqusiize the rates
~ interest in all parts of the United
States. so th2t the farmer and the
manufacture IL ouc smaller cities and
remote sections may be placed upon
ssual terms with the borrowers in our
great commercial centers
THAT seands very pretty. but it is as
great q piel ST buncomoe as even a
Republican CONGRESSMAN was ever
guilty of. There is absolutely not q
syllable. word or sentence il the bill
which win promote y such condition
as that SO temptingiy described. On
Tho contrary. the promoters Of Me Leg
islation, by placing the circulation Of
bankers. win make it possible for them
20 charge any rate of interest they de-
sire The farmer and the small manu-
factnrer win be worse off than they
have ever been II the bin becomes a
aw
Another object is ito wipe the last
stain az hatisn from the eseutcheon of
our nations nonor. aud remove the last
DOUBT hanging over our national credit
as providing fer the redemption ia gold
coin of an the legal tender money of
The government, including the silver
dollar. as wei as the United States ana
treasury notes and the subsidiary
roins.r beautiful words. these, but
they have Z false ring since when has
a doubt hung over the national credit?
Since when has the stain Of tiatism
sinirched the esoIdeheOn of tie nation
AS result Of four years Of President
Mckinley the Republican Orators went
from one end Of the land 10 the other
tpyoclaiming that the gold standard had
been irrevocsbly fixed; that the United
states had become q eEeeitor netioni
that il was The wealthiest eeuntry un-
der the sun: th1e its honor was unim-
paired and its credit higher than the
highest Whence arises this patriotic
desire 70 save the republic? Are th'
Republicans ia congress afraid thai
thev themselves viii wreck the EatiOna
honor? in their desire to entrus- thai
honor 20 the hands OF the bankers ii
would seem that this fear is gainin.
ascendaucy over them.
a little further down IN the remark
able brief Of the committee on bank
ing and currency is found evidence o
fhe esteem in which the bankers ar
held. when we recall the humiliatinI
spectacle in later years it says, so
ne United States government hirinl
for a stipulated sum a syndicate o
bankers to come TO its rescue end saw
its credit from utter and everlasting
dishoHor. we are compelled TO admi
that our system is wrong. But Grove
cleveland wes a Patriot and did hi
duty. and that act alone should max
his name Immortal" All, where no'
are the Republicans who went froI
stump to stump and FROM state TO stat
denoHnIng Cleveland for this very act
who was it that shielded this cOun
try IN its splendid and unparallele
sweep Of prosperity from a finRncis
cataclysm when William Mckinley wa
struck down and the soul that was Ii
inspiration Of our most glorious az
was called away" asks the committe
"It was the great credit merchants
New York, known as bankers, undo
The leadership of Frederick D. Tai
pan Yes. the credit merchants
and. by the way. what 6 nice, soft ter
that is. the credit merchants d
shield the country at so much p
shield, aad they are entitled to no mo-
glory on that account than a man WI
sells gt5ceries for spot cash to q hui
gry. community.
And 50 these patriots. If the Repub'
cans have their way, are to be Civ
absolute control Of national finanoe
They WIN have the power. under Z
new bin. 20 regulate and control q
issuance Of money. and. instead Of {
credit 81 the government being behh
its circulation. the national banks a.
bankers VIII be behind it with nomiH
government regulation. The passa
OF the bin VIII be an acknowledge
10 the nations Of the world that {
United States is not financially sour
1t VIII be in the nature Of an assig
ment for the .asneft Of her creditor
and when the "Vredit merchants, know
as bankers" sat through with tbs
inquest there won't be enough OF {
corpse left 20 tempt a buzzard.