Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1903-09-16

such, base the medium. of exchange
for the people of the United States. I
believe the very statement of the prop
osition is enough to refute it. When
we take the bond of the average rail-
road Of the United States upon which
to base our money and the credit of
the United States, then I tell you the
silver fanatic is star Of the first
magnitude compared with the men
who advocate such doctrine.
Aidrich's Banking Scheme.
The Aldrich bill has reference to
the deposit of public funds with banks.
No bank can be selected unless it is
a national bank and then it must pc
designated by the secretary of the
treasury. He can select any bank he
wishes and when it suits him. If he
wishes he may place all the funds in
few banks, and he in order to remove
the stringency would probably select
Wall street institutions. This money
is loaned to the banks; the govern
ment is in fact, not lepositor. The
banks are to pay one and one-half per
cent per annum. Is that a profitable
transaction for the government? These
funds SO loaned come principally from
custom duties. II the prime object IS
to get the money into circulation and
out of the vaults of the treasury, why
not reduce the tariff, permit little
competition in the iron, salt and lum-
Der industry and thereby reduce the
surplus?
The democracy is. and at all times
will be, opposed to such a doctrine as
this. The money of our country must
be safeguarded by every possible right
and men who are unwilling to pur-
chase the bonds of the United States
al ruling prices should not be permit
ted to use the credit Of the United
States in the form of money or become
custodians of public funds. This ques-
ton will never be settled, my friends,
until 1t has been settled in the manner
and form urged by Andrew Jackson
who insisted that the medium Of ex-
change of our land should be directly
under the control of cur government,
and then there will be no necessity of
the advancement of interest upon bonds
months in advance of the time it be-
comes due.
The western farmer is interested In
the volume of the currency as much as
the stock broker of New York, but he
is never thought of when strlngency
strikes him.
He can take the ten dollar bill
issued on the bonds of some defuncr
railroad because the monied interest
of the east believes it advisable, but
when furry is caused among farmers
by reason of short crops, you do not
see the secretary of the treasury rush.
ing westward in a special car to offer
aid and assistance.
Elect Senators by the People.
My friends, shall this great govern
ment of ours be by the people and for
the people, or will it be by the corpo-
rations for the trusts? You do not
find the "stand patter' advocating the
election of the United States senators
by the people.
If the people Of the United States
elected their senators as they do their
representatives, would you have as
many men in the United States senate
SO antagonistic to tariff reform, as you
have today?
What interest have these men in
the Iowa farmer Is it to your interest
to have the high executive officer of a
great railroad or the chief executive of
the trust as your lawmaker? Secre-
tary Shaw said in an interview in 1902
that 1t would be impossible to pass a
measure revising the tariff through
the senate of the United States. I'M
less it met the approval of Senator
Aldrich.
These men are not instructed by
their state legislatures. They do not
appeal to the people. They are away
beyond you and me and when they
speak in the United States senate,
they never refer to district or the
people Of district, they refer to my
state" They must be consulted on
all appointments, and take more UNI
bragg at the failure to appoint a post
master recommended by themselves
than they do about being absent when
important questions are being voted
upon.
We are not legislating for today but
for generations yet unborn. If your
children and children's children will
sing your praises in generations yet
to come as we do that of our forefath-
ers today, it will be for the reason that
we are as true to the ideas of justice
and right as our fathers were. When
we place men in Office, we do so not
for ornament or in order that they
may represent individual interests
but to represent the people of great
state. They will represent the people
If they are given to understand the
body polite will GUST them from pow
ere as soon as they prove untrue to
the trust imposed.
When you find men willing to vote
an increase in your taxation. unwil-
ling to revise the tariff. unwilling to
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