Daily independent. [volume] (Elko, Nev.) 188?-1915, 1909-09-04
ANOTHER PROSPERITY" LAW

AS another step in the process of oil.
acting prosperity by statute. the r.
publican party will next undertake ii
revision of the currency system This
revision will be i'll charge of the same
eminent leaders of the party who con-
trolled the revision of the tariff. to wit,
Senator Aldrich and Speaker Cannon.
The nature Of the revision to be ex-
pected is shown by the action of Speak
er Cannon in deposing Congressman
"owler of New Jersey as chairman of
the banking and currency committee
and naming as his successor Congress-
man Vreeland of New York. Fowler is
perhaps the greatest authority on the
currency question now in public life.
Vreeland, as the indianapolis News
truthfully describes him, is man "who
is quite unable to see anything west of
Wall street." Together with Aldrich
he was the author of the present make
shift "emergency" currency law, which
has been wholly inopeI ative. and whose
sole object was to furnish a few million
dollars more of bond-secured currency
for the uses of the Wall street gamblers.
New England, New York and Can
non made Il new tariff law, the pur-
pose of which is to promote prosperity"
by enabling the trusts to charge higher
prices for their output, and so earn
larger dividends on their watered stock.
New England. New York and Can
non will next make II new currency law,
the purpose of which will also be to
promote prosperity. by providing for
a. bond-secured currency The bon DIS
to be used as basis for the legal tender
money of the country are to be the
securities of the railroads and the great
industrial trusts This, of course, is
expected to help spectators, specula-
tive banks, eXplOiters, stock thimblerig
gers, by creating IL market for new
securities and comforting added value
on those already afioat.
In sense; all this will make for
prosperity" But it is Dead Sea
prosperity, the fruit of which will
quickly turn to ashes in the mouths of
the people. High prices and big profits
FOR the trusts means IL prosperity for
plutocracy, i'll which, for time, and
to very limited extent, the labor that
plutocracy employs will share A bond
secured currency, inflated and debated
ut the will of the stock gamblers, adj
ding fictitious value to water-logged
securities. will promote speculation,
make more mad and maddening the
gambling saturnalia, aud result in "a
Kind Of fevcred ''prosperity' drunken
ness such US brought on the last
collapse.
Through itall, in fair weather and in
storm the same, the cold-blooded. clear
headed, calculating md mercilcs pirates
of high finance will be adding, day by
day, to their riches. Tariff laws,
will conspire TO favor thcm-to make
their work easier, their rewards even
larger than before. Into their hopper
at last. will come large share of the
wealth production of the country.
Through the tariff laws they will wiring
added eNtOrtiOn from the consumer.
Through their control Of the currency,
and thcir CurrrnCy-inhntcd stocks,
they will rake in greater winnings from
investors, spectators and small bust
ness mon.
But poverty will persist It will
grow deeper and brnaIr Just as
those ut the top grow fattcr and fattcr
will those at the bottom grow thinner.
And they who are in the middle. Oh.
pressed by the growing weight above