The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-08-20
THREAT AGAINST THE REPUBLIC

n bohCQ tAC CullOt LIZ
Independent the other day to explain
to it's readers in what way the great
fortunes of few millicnaires
threaten the existence of the republic
He said very many thousands of vot-
ers had no idea of the awful power
these men could exercise.
Suppose that Rockefeller should
convert any great portion of his
wealth into money and lock it up.
What would happen? There would be
just such season of distress follow as
we experienced in the years of the
Cleveland soup houses. In fact that
was what was done at that time, not
by one man, but by a clique OF men in
Wall street. That thing has been done
r,ore than once. Late In the SOS jim
Fisk and Jay Gould brought on tenn
porary panic in that way. They drew
Upon their credit at certain banks one
Torning, asked to be paid in United
States notes, put the notes up as col
literal for further loans also made in
United States notes, borrowed more
on that collateral, and SO on until they
had enough money locked up to
oNuCCZG tlC lldl hCJ d1iu plCClPItulC -
cash of prices which they then took
advantage Of to cover their short con-
t, acts and extend their railroad con-
troll. That performance caused the
Iassage of an act of congress, approved
i'll February, 1862 prohibiting national
banks from receiving United States
notes or their own notes as collateral
security for any loan of money, or
withholding the same from use for a
consideration.
That law does not prohibit Rookie
feller from doing the very same thing
today, and he is accused of doing it to
cause the recent fall in stocks in Wall
street, for he possesses enough money
and stocks, that are marketable, in
his own right, to do that thing any
Gay. Here then we see one man who
has it in his power to wreck the for
tunes of the whole people of the Unit
ed States. Such power is threat
against the stability of the republic.
Not only is it menace to this re-
public, but it is also menace TO the
whole civilized world. All great
statesmen have recognized the danger
TO the public welfare of these immense
fortunes. Years ago Gladstone called
attention to it and recommended the
most drastic measures. In speaking OF
Vanderbilt, Gladstone said: ''The
government ought to seize his proper
ty and take it away from him, as it is
too dangerous a power for any one
nan to have; supposing he should
convert his property into money and
1cck it up, it would make a panic in
America which would extend tn this
country and every other part of the
World"
Those who control the transpOrta
ten facilities Of the country can ex-
e1cise just as great power. They
down. They can wreck one mans for
tune and make that of another. They
rot only can, but they have done
those things. No government can
t.uthfully be said to be stable gov
eminent that does not own it's means
OF transportation and absolutely con-
troll the volume of money. If it does
not, it puts in the hands of Others the
power to wreck it. There is Tot a
civilized government today in the
whole world that does not absolutely
control it's transportation and money
except the United States. Here our
fortunes. our government. even an OPP
Icrtunity to live is in the hands of
such men as Rockefeller, Morgan, the
Goulds and the Vanderbilts. 1t is in
deed time for populist revival. With
a government based on populist prin-
ciples, the government and the people
would be safe. If Rockefeller under
took to hoard up the money, the gov
eminent would simply issue more
money TO take it's place and the knowl-
edge that the government would do
that thing would prevent his trying
any such game. With the railroads
owned by the government all men
would be equal in business and none
would have airy special privileges.
There would be no secret rebates I'm
der such conditions we would move
onward.
SSsSS>$SS
SIXTEEN TO ONE
While the populists supported the
demand for the free coinage of silver
at the ratio of 16 to !, they always de- |