The San Francisco call., 1904-07-21
THE POPULIST PARTY.

~ our memorial remarks on the passing OF the Pop
ulist party He denurs to the statement that the
Farmers Alliance obligated by Mr.. Polk to be ex-
elusive reading and IN the speeches which it
gave AS not member we can only sub
nit the testimony OF the press, especially OF the
Southern press, current at the time.
The organization abnormal outgrowth of hard
times and OF low prices for farm products In the al
fairs OF this world streas of lean and treaks
OF fat and when we all strike unusually thick lean
streak we not only think some has meddled with our
but apt go hunting for quick and ready
remedy which IS usually the wrong remedy, and while
trying apply Il wondering why 1t doesn't
work things right themselves, everybody buying
and selling and we forget all about the trouble. This
be the why the Popust party has gone
sleep with its fathers-the Greenbackers and the
Farmers Alliance
What dispute about what it taught in economics
and hnancel Il seems have secuted the idea OF in
trinsic value in q medium OF exchange The gentleman
who chides says that Popuis even professed be-
eve that all the value OF the precious metals and
above that created by their in the arts and sciences
pure hat-a value created by the nations which had
adopted them convenient material for for pur-
poses OF money"
No government fat value except be-
itself and lis own people who do business with it.
The government may agree take chips and
whangs. and they Immediately have value arising in
that exclusive function. It may make them legal
tender between individuals for the discharge Of
between debtor and creditor did greenbacks
but there its power OF fat stops for the world does bust
in a medium OF exchange that derives its value
from human desire and from necessity imposed by
statute law OF all the metals and minerals most
desires gold. All the world savage and civilized
man. Christian and Pagan, gentle and simple all desire
sold more than anything else. This universal desire
makes universal medium OF exchange. 1t is so by
natural selection. II IS by universal desire made form
OF property that is exchangeable for all other forms OF
property. The governments did make and they
unnake it The nations have simply followed
the line OF natural selection making gold already the
universal medium OF exchange. the official standard OF
value also.
The Populists alone singular in putting
undeserved stress 4 legal tender currency. Mr.
Bryan speaking to them in Nebraska in an attack or
the national banks said A bank issues its of hand
and draws interest on it while it is outstanding You
farmers issue your OF hand and have to pay in
terest them while they outstanding The law dis
eliminates between the corporation and the What
is needed IS law that will enable you draw interes
your note OF hand while it IS outstanding" II that
proposition TO make currency OF un-
secured personal notes what it: Mr. Bryan the
nominee OF the Populist party for the Presidency anC
spoke by authority
1t be understood that we impeach the re
speced shadow OF Populism or intend to speak III o.
the dead 1t is the experience of all philosophers anC
OF ali DeneIactOTS OF tnelr knQ rejected Dy the
ton of which they part be selected and honore
by generations following, that the difficult OF al
things is TO get to think deeply and soberly abou
anything The great issues OF life require thought anc
seldom get il II is therefore the conclusion OF tn,
philosophers that it is better that should thnl
wrongly than at all When the process OF ratiocina
ton begins the integrity of the mind leads though
Alright. To the Farmers Alliance and the Popuist
be given credit for starting several millions peo
pie to thinking In this they far exceed the two o
parties. After all there was more American manhoot
in Populist standing and giving reasons for th
faith in him than in David B. Hill saying Il am Dem
ocrat," without knowing why giving any definition
the faith
Populism has passed suddenly away because Popu
lists began think and forward to right thnkin
that led them Of vagary into the substance things
They enslaved themselves the idea that artice b.
legislation do what natural law does better Lik
many others they led far asray by the legal ten
der laws Such laws necessary though they ma
provide convenient measure Men deal in values b.
contract and when borrows of they may mutuall
agree that legal tender for the debt shall be bushels
wheat dollars OF gold weighing much each The
establish their legal tender in their contract
We may never look upon the like of the Populist
again but let be said of them their ideas were
! they had the courage of their convictions
Certain persons, interested in the well-being an
prosperity OF saloons have asked the Supervisors