The independent. [volume] (Lincoln, Neb.) 1902-1907, 1905-01-26

is only the nrst step W
wards absolute destruction. All the
legal machinery provided for the de-
ct ruction of legal tender government
paper is preserved for use IN the de-
struction of legal tender silver, anu
the provisions of this bill are intended
to bring the silver currency under the
operation of that machinery.
The report of the committee con-
cludes by enumerating certain results |
which it is assumed will be assured.
One is left in doubt about whether
these assumed results are. the visions
of economic Ignorance that deserves
gsxis tamntsa or whether they are the
hypocritic?1 concfsssssiAz. zen VINO |
are intent upSA the accomplishment OF
a dlshonest purpose.
They say thas one result will De the
gold standard This is true very GER
tainly; but when they say that tne
commerce of the country will always
have an adequate reserve OF this stand
ard. it is a tumble of words and q
worse tumble Of "ideas. 1t may sounu
learned but means nothing. A com
mercial reserve" is a product OF ignO-
rant imagination.
Another conclusion Is ssThat the
credit of the nation will no slanaer8
be threatened, nor the people taxed to
protect it against assaults. When
has the credit Of this nation been
threatened except by the schemes OF
the financial group that are Denina
this bill? The only way the credit OF
the nation has ever been assaulted
has been by the constant effort OF the
financial group in just such schemes
as those embodied III this bill, the pur-
nose OF which is to take from the gov
eminent the management OF our finan-
cial system and rest-it in banks, and
make it subject to the exigencies OF
private interests. The people have not
been taxed to protect the nation $
credit, but LEY have been and are
now being taxed to assist the banks IN
making the assaults.
This committee asserts THAT the
credit merchants or bankers will fur
nish gold for export if it can be
: spared and will protect it if it should
u. oded at home,-and will purchase
ii If it is required to sustain crmrrer-
cial credit" Was there ever more non
sense or more wicked rretense ex-
pressed in a few words? Does any one
have so little knowledge of the expert
ence of the last forty years as to sup
pose that these "credit merchants" will
not exact, the,largest possible compen-
sation for all these supposed services
If it we're possible for them to render
them, which it is not? What will these
sscredit merchants" care about the ma
ton or it's people? What will they
care about whether gold can be spared
or not, or about whether it is needed
at home?
The man who does not know that
the actions of these credit merchants
will be controlled by their selfish inter.
ests, and by that alone, is fit inmate
for an idiotic asylum. No difference
how much we may need it, if some
other nation needs it more and thesi
fellows can make little money by it
the gold will be exported. We are tt
be put III the situation where we mus
comepete with and bid against thu
world to keep our debt-paying money
lTOm U0luS eADUlI leu do lHetdl " W
coined into the money of the natior
that will bid the most for it. We ar,
to be made the play and sport of tht
so-called credit merchants" and thu
only thing out of which we can maxi
a debt-paying money to pay them a.
creditors can be exported by them ant
increased in value by the export de
mand.
They assume other results equal,
absurd that Il would be waste of tim
to mention.
Would it not be we'll for leaders
who are so felicitous in jollying polit
ical opponents, to give little tim
to the study, Of this question and TT.
to give the people whose ears the.
have some light2 The questions .
railroad rates end who shall fix them
and tariff revision and what it shall b
are important but insignificant whe
compared with the issue of currenc
and Tho shall determine the limit @
currency and credit expansion.
When | began this discussion di
not think it would be SO extended, bu
if / have succeeded in arousing eve
I. eox,r ~ rtbo Jo puar fbof fbro nil