The Leon reporter. (Leon, Iowa) 1887-1930, 1903-09-17

stable and sound currency. It Is as
It Is to trust in the products of labor.
OF what value would your land be il
1t were not for the medium of ex-
change? Prices will be enhanced,
business will be developed, progress
made in all lines if the medium OF ex-
change keeps pace with the growth
and development of industry and
trade. This has ever been the policy
of the Democratic party, and ever will
be.
The platform enunciated at Des
Moines said that, 1--WE, the general rep
In delegate convention assembled,
hereby declare anew our faith in the
fundamental principles of the Demo
cratic party and renew our allegiance
thereto"
1t is the fundamental principle of
the Democratic party that the money
of our country should be under the
control of the general government,
and quantity sufficient for all prac-
tical purposes. Today we have
larger per capita circulation than ever
before. We have over a thousand
million dollars of gold as money and
yet it is an admitted fact that scarce
~ one half that vast sum is in actual
circulation. Over S300,000,000 is tied
up in the treasury Of the United
States, nearly $3O0.O0O,O00 is tied up
by banks and lost or destroyed.
We depend entirely upon the paper
circulation of our country. Now. as
the increasing demands of trade de-
mand additional money, from what
source is it to come? Since 1896 the
national banks of the United States
have been increasing their circulation
to a wonderful extent. Will you per-
NIT banks to control the measure OF
ereign power, and the sovereign, not
the creature, should regulate the vol
ume.
We have permitted ourselves to be
turned away from the cardinal prin-
ciples of money and allowed the money
brokers of the east to give to us new
measure of value. Money that meas
ures the value Of every home and farm
and product of labor the same as the
yard stick measures every piece of
cloth that passes over the counter.
One should be as true and stable as
the other.
Asset Wild Cat Currency.
Our friends. the enemy, are unwil-
ling that the people should control the
money but wish corporations and
copy of the Aldrich bill, introduced at
the second session of the last con-
gress. Many of our friends have OBJ
jected to the clause in the Democratic
state platform with reference to THIS
bill. l maintain and insist the enact
ment into law of the provisions of the
Aldrich bill would be ruinous to the
prosperity of our country and would
place additional powers in the hands
OF the national banks for the purpose
of controlling the money of our coun-
trty You wish to see the money of
our country carefully safeguarded. Not
a single dollar to be worth less than
hundred cents. Our worthy COVER
nor himself family endorses the Fow-
Ter measure. bill that means wild
cat currency of the widest sort.
Do you fully appreciate that system
OF craftsmanship which wishes to en-
graft on the law of our country, a
cfo f,,t0 =,
be based upon the assets of some de.
funct bank and is unwilling to have
the ten dollar bill based upon the sill
yer bullion of our country? Which
asset would you prefer? That of the
bank in the hands of receiver. or,
silver bullion in the vaults Of the
United States?
Such is the intention of the Fowler
BIZ. The Aldrich bill is along the
same line but step in advance. By
Its terms it permits any bank that will
deposit with the treasurer OF the
United States first mortgage bonds OF
any railroad, not including street rail.
ways, which has paid dividends OF not
less than four per cent per annu Il
regularly and continuously on its en-.
4 tire capital stock for period not less
than ten years previous to the deposit
OF the bonds, to become depository
of the United States if the secretary
of the treasury will select the bank.
A careful study of this bill will ex-
pose the cloven foot 1t simply means
further power being placed in the
hands of the national bank. and an
additional market for railroad bonds
There is no reason why the govern.
Toent of the United States is not as
safe to control the money of the coun.
try as a national bank. and it is not
advocating fanaticism to so believe.
Personally, and Independent OF par
ty. | am an old-fashioned democrat
believing in the use of gold and silver
as the money Of our country. and So
believing cannot bring to my mind