The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-02-11
The Fowler Bill a E. s..s,s an. And sss
fsY il. P. LAsoN, DeFuNIAk.)

| tain, and it is bettea to share it with
the banks, who will get all thse
plumber, anyway?
He says: If upon this occasion
shall show you that we have been
going wrong in our finances ever
since the civil war, and that the fun
damental evils then Incorporated into
our financial and currency practices
are now leading directly, unerrlngly
inevitably, and swiftly, TO condi dons
that will certainly out parallel the
difficulties, disasters and disgrace that
may have ever visited any civilized
country, what will be your duty?'
That is a confession Of Republican
financial folly; but we will take no
advantage of that. We will not say
the Populists and Democrats have
been telling you, so, because there is
no argument in that, even II 1t be
true and we come to:
What Will be your duty"
A change is necessary. Congress
must not look to the banks for help,
and Congress. must stop helping the
banks.
There is nothing in the United
States constitution which says banks
shall have power to coin money, nor
that Congress shall have power to
coin money for the banks.
You are fabordng to do what can
not be done, either by the govern
ment or by banks; because you adj
here to the doctrine that gold is the
only material that lawful honest
money can be stamped upon:
So you struggle to pay 1876 millions
with $50 millions.
Why do you adhere to gold only,
with all your opportunity to see the
misfortune and misery that must in
evitably result from foolishly promiS-
ing to do what you know cannot be
done?
Are you sure gold is the only ma
-terial on which honest lawful money
can be stamped?
Are you sure that it is necessary to
compel debtors to borrow inflated
bank currency and promise to pay
back gold?z
Don't you think Congress ought to
consider the rights of debtors as we'll
as creditors? OF taxpayers as well
as Wall street gamblers?
Are you sure that buying all kinds
of property, and agreeing to pay in
gold-one kind of property, and that
kind already cornered, is wise COM
pulSOTy legislation!
A dollar that does not initiate Or in
crease real dollars-if put into cfrcu-
lation, is a trap-dollar, and Congress
ought to be advised if they can not
discover any other kind of real dol
lars except gold, that they are weigh
ed in the balance and found want
ing.
Remembers this, not 1852, when
Lincoln proposed lawful irredeemable
legal tender paper dollars; but it is
1908.
In 1862, the banks said: Such fiat
it insanity and when it comes before
the supreme court you will find that
you have merely Jumped out of the
frying pan into the fire.
That bank prophesy failed, but
Congress, does not act as if 1t had
ever heard that it failed.
The greenbackS, so far as they were
fiat, did excellent service; - 1t is where
and left AN indelible stain upon Con
gress-
Congress reminds one Of a crippled
eagle in barnyard, where the banks
and gaInbl erS, just the common
fowls, kick and cuff it around.
Oh, Congress! awake from your
The wheels of industry
are motionless, and you can start
them if you, will
You have the power, and you only,
to create a lawful paper money-law-
full to loan, and lawful to pay the
debt If there dS any contract which
seems to deny this power which is
a constitutional power, it is void
contract.
Make such money, and do not I'M
make it, nor cripple it: after it is
made Use your wings to get out of
the stencil.
We appeal to you because the pow
er is in your hands-the responsible
ty is upon your shoulders.
Observe the line of your power.
Do not agree to do what cannot be
done.
Do not redeem one lawful dollar
in some other lawful dollar-break
the endless chain.
Do not fly into the face of the
natural law of supply and demand by
an overissue on the one hand or an
ON the other hand.
Do not violate the quantitive theory
Of money, but make every dollar that
is permitted to circulate as money a
lawful dollar-lawful to loan and
lawful to pay the debt.