The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1903-01-14
mobiles of the old world to fatten on

the servile peasantry, and they have
elected, apparently, to submit to
to political wrongs rather than main
tain the fight and continue the
demand. They are as inefficient to
maintain their right by the ballot as
was the Saxon. the Pole and the
Italian by arms at various periods
of history.
They are not yet content, and, hav-
ing had a demonstration of their
complete ability to handle the people,
they are going to far greater lengths,
which will place the money function
entirely in the hands of the banks
and enable them at last to reach that
condition where every industry and
product can be made to hand over
all surplus profits in interest tribute
to wealth for the privilege of using
controlled medium of exchange.
Every metropolitan paper is full of
such articles as the following:
What further steps should be taken at
this time for the betterment of our none
lary system? Hugh H. Hanna was ask d
today.
Mr.. Hanna was chairman of the exc.
cutive committee of Is created by the
national monetary conference held at In
danapolis in 1897 and ever since he has
been active in pressing the demands of
financial reformers.
First" he replied, ''our gold standard
law Of 1900 should be strengthened by
machinery for maintaining parity be-
tween gold and silver. The public mind
is prepared for as perfect gold stand
ard as can be established. A law pro-
viding for the payment of gold for silver
at the treasury on demand is the one re-
naming step necessary to secure abso-
Lutte parity of all our moneys. Both the
Overstreet bill and the Hill bill, intor-
duced in the last session, make full and
wise provision
Second, an element of elasticity in our
national bank currency should be pro-
vided. A small step, equal in amount to
say 10 per cent of the capital of the bank,
is sufficient for demonstration of efficiency
and safety. If its desrability is proved
gradual increase within term of years
to say so Fer cent of the amount of the
capital with full and unquestoned pro-
vision for the redemption of notes of in
fQ G q IN, he T
and other bills, is the other step immedi-
ately necessary.
1.-The general subject appears complex
and our people are, therefore, disinclined
to study it. The principles are simple.
The humbest citizen is interested in the
perfection of money laws
only the absolute assurance of parity
will make a New York bill of exchange
as acceptable in the commerce of the
world as a bill of exchange on London.
Assured parity OF the metallic curren-
cles and scientific provision for elastic
bank currency without risk of redemp-
ton Will not only strengthen the fiber of.
our domestic commercial interests. but
will do more to make possible the sale of
products of American labor than anv
other one act of legislation.
THAT the president, secretary of the
treasury and the comptroller of the
currency should all so courageously at
this time advocate such legislation indi
Gates the growth of pnblic opinion favor
able to laws in the interest of all our
people, without preference, the import
ance of which should arouse the business
men OF the country to the determined
timely support of the effort being made
to to secure international action
Note how "the pnblic mind is
PREPARED for as perfect a gold |
standard as can be established "
The "perfect" gold standard simply
means perfect In the opinion of the
interest gatheres in plying his trade
Of harvesting from the producer
IAN element of elasticity" polite
way OF expressing bank controlled
circulation which those IN their glld-
cd offices can expand or contract AZ
necessary, to oblige all commerce to
borrow from the fountain head at
'very turn to carry on transactions
Currency without risk of redemp.
ion" can be had, as a matter of
course, if the American people are
Wiling to accept a medium CONSISTING
" bank paper based on what the
people owe the banks. When thew
'eeo money to move crops thew
Will get paper backed by their own
to produce-and paw
oyalty for its use.