The independent. [volume] (Lincoln, Neb.) 1902-1907, 1904-08-25

| of money was a governmental func-
| ton which should never be suIren-
| dered; should never be delegated to
any class of citizens, but should al
ways be held by the government as
one OF the great attributes of SOW
ereignty. We were for free silver
upon the ground that to the extent IL
was coined it would increase the vol
ume of the currency. But any other
| equal amount of currency created by
| the government out OF any material
| whatsoever would have suited us quite
as well. We stand precisely where JEFF
| ferson and Jackson stood We are
for the money of the constitution and
for the old democratic doctrine that it
is as easy for the government to issue
as money, as it is to issue bond upon
which the banker shall base his note,
and use it as money.
IL Thomas Jefferson and Andrew
Jackson considered that one national
bank with its comparatively insight
icant circulation was of deadly dan
ger to republican institutions, why
should it be heresy for us to contend
that 5000 national banks with cir
culation of more than $400,000,000 are
likewise dangerous to the spirit of re-
publican institutions?
No class of citizens should be al
lowed to use governmental function
for private profit and reap the enor
nous gains which the bankers now
derive from that source. But this
view of the subject is almost trivial
compared to the tremendous power
| which the national banks have III ex-
panding and contracting the currency,
thus holding the markets of the re-
public at their mercy and having the
power at any time to unsettle values
from sea to sea.
This country today is in the ut
most peril from the money question.
In vain do the democrats waive it, it
can not be waived. The Cleveland
ruling, by which coin was held to
mean gold, and by which paper notes
were used to get bonds from the gov
eminent, is still in force, and the end
less chain only needs another Cleve-
land at the windiass And when we
see standing around Judge Parker the
same old Cleveland crowd-Dlney,
German, Belmont, Carlisle, Lamont
the gravity of the situation deepens
as we study the faces Of that notable
collection of patriots. The discoveries
of new methods in treating gold ores,
the opening of vast deposits of the
| precious. metal in so many different
parts of the world illustrated and vim
dictated the peoples party's contention
on the subject of the currency rather
than discredited it.
But beg to call your attention to
the fact that no man can tell when
these veins will be exhausted, and
when this vast increase IN our cur
rency will be discontinued. And
warn you now that when that day ar
rives, contraction, and the frightful
results which have always flowed from
contraction, will be upon you. The
moment the volume of currency ceases
TO increase, as population and COM
merce increase, then relative contrac-
ton is at once in action and the IN
creased need for money not being fol-
lowed by a greater supply of money,
there will be crash which will make
this republic shake from one end of
it to the other.
And in the storm that sweeps over
the land, as it surely will do, there
will again be heard the cry of the
suffering man, the suffering woman
and the suffering child. Why is Judge
Parker SO assured that the gold stand
ard is irrevocable? Nothing in human
law and custom is irrevocable-espe-
cially if it is wrong. Neither the
sanctions of the constitution of the
United States, the statute law of the
land nor the unbroken national prac-
tice of century were sufficient 70
make the double standard of gold and
silver irrevocable Why, then, should
the single gold standard, which. vio-
lates the constitution, mocks the stat
ute law and rebels against the preced-
ents of hundred years be considered
irrevoeable?
ii seems TO me that financial sys-
tenn which is based upon violation of
fundamental law which all officials are
sworn to obey rests upon foundation
which lacks a good deal OF being as