The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1908-06-18

,.uid nol he sasllata andH sep Fra
-eat u seFsing tbe pubIic interest
liul On that same Mach DAP tle
Wisconsin, senator warned the e0un-
H. that the vicious Proposal had
been dropped only temporarily aud
would be revived lie Mas right.
Aldricl aud his clique even then
were preparing TO prove themselves
tricksters and faith breakers.
The anger OF the people was lulled
to sleep. The public watched with |
contemptuous indifference the SEN
ate's passage OF the emasculated Aid
rich bill and the acceptance by the
house Of the spiDeless Vreelanu
measure, the latter at least having
the merit of recognizing in a small
way the only true basis of emergency
currency paper.
AMI now, at the eleventh hour, the
conspI rators deliver their stab at the
commerce of the country. They rush
forward bill well described as "half
senate infamy and half house in
fanny" embodying every rotten Wall
street device that lay in the earlier
bills and discarding every amend
ment for the protection of honest
banking and legitimate business.
| Commercial paper is mentioned and
railroad bonds are not. Oh, the wis
dom of these pirates, thinking they
can mask their purpose with such
word twisting Just as if the bust.
ness men of this country would net
understand the meaning of "otheI
bonds" and ''any securities, includ.
ing commercial paper"
State, county and municipal bonds
to be accepted at 80 per cent Of theil
market value. 'Other bonds anl
commercial paper to be taken at Il
per cent only after arranging compli
Gated and elaborate associations feas
ible only for the New York banks.
And even should such machiner,
be formed and the entire assets of tn,
banks pledged, they could issue onl
80 per cent of the unimpaiied capita
and surplus on the security of com
mercial paper, while on "othe
bonds" the only limitation placed i
that the issue, together with the cir
culation based on United State
bonds, must not exceed the aggre
gate capital and surplus of the issu
ing bank.
This law means the turning owe
OF the treasury of the United State
y to the gamblers of the New Yor
stock exchange for a period of 81
Years
1t will mean the making of goo
times" and "bad times, Of 'bull
markets and "bear" markets, az
cordin to the pleasure of Rogers an
: Rockefeller i'm the National Cit
bank and j, p. Morgan in the Nj
= tional Bank Of Commerce.
1t will mean not the slow and ce
tain movements OF contraction an
imitation by the natural laws of con
merce, but sharp changes forced 1
will by the master gamblers.
u 1t will mean the gift to The Chi
enemies of the nation of the power
Il issue or retire half million Of dc
lars, exciting speculation or compe
u ling disaster according to whichev,
best suits their betting book.
y What the effect will be upon Il
u coming elections we do not know
. We do not know what measure
y punishment long-sufering peop
! will inilict upon their betrayers.
- 1t is not the time to think Of pc
tics or partisanship. A thing Is b
ing done which will affect every en-
ployer and every employe In Americ
every banker, merchant, manulaC
urer, clerk and mechanic.
III We wish merely To warn oned
all. The country will be in the CO
dition OF convalescent to who
drugs that are powerful stimulan,
but poisonous, would be administers
There will be a boom-a feyeri
but false activity. The issue OF hi
billion Of fiat greenbacks or Vi L
silver would have the same ege'
And then, after the North Americ
and the few like US have been mock
at as false prophets and pessimis
payday will come. And the pr
will be bitter one. -Philadelpl
North American.