The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-02-21

the north and west, a symbol of pros.
pcrity.' or. 143.)
"~Th"uEhtful public men saw. new
~ertheless, that the business interests
n a specie payments should he re-
suined by the government. tho re-
dundant currency of the country con-
trartcd, and money transactions put
once more upon foundations that
would hold fast Up. 144.)
Favored Specie Payments.
He then speaks approvinglN of our
demonstration of the silver dollar
in 1878, and the act of 1875 for the
resumption of specie payment and
says: The real functions of money.
the real laws of its value, the real
standards of its s~erviccability. thr
real relations to trade and to industry,
have always been hidden from til.
minds of men whose thought in such
matters has not been trained in the
actual experiences of the open mar
kets of the world. i'll actual exchange,
or in the actual direction of the tinan-
cial operations of government" CP.
1i5.)
IF the south i'm 1890. he says: Err
rors of opinion began to prevail there
as in the new regions of the west n
hopes that the credit of the
government itself might in some
manner be placed at the disposal of
the farmers in handling and market
cheap currency. of paper or of sill
yer. which should he easier to get
and easier to pay debts with than
the gold which lay here in the vaults
OF the banks and of the federal treas
ury. The communities from which
such demands came lay remote from
centers of trade. where men could
see in the transactions or everyday
what real laws of credit. of value
whether Legislation would have them
so or not" Up. 2O3.)
Condemns tho Sherman Act.
MIR. Wilson questions tho decision
validating tho le"al lender notes and
says that the immense issues Of war
times legislators got a novel and
misleading sense of power in the crc-
alton of values" lie condemns tho
Sherman ilct because ''thc law of sup
ply and demand governs the value of
metal as of all other things bought
or sold and the statutes of no single
government could set the efficiency
of the law aside"
MIR. Sherman and his colleagues
were playing to the galleries." IT.
205-2OS.)
OF tho financial situation in 1882:
Under tn" Sherman act so soon as
IN" government ceased paying in gold
tn" artificial parity between gold and
silver which the laws sought to main
tain would be dcstroycd-evcry piece
of property in tho country, tangible
and intangible. would lose half it's
value and credit would collapse" or.
222.)
The real force OF sentiment came
from the uneasy economic conditions
of the country--prices had fallen;
money was no. easy to get. as it had
happened to be when abundant is
sues OF paper came pouring every
month o the governments treas
ury."
Reason Could Not Check II.
"lf the bankers set themselves
against every proposition to provide
an i~rredeemablc paper currency again
or eve II fresh coinage of silver, there
was II more reason to believe that
paper or silver was the only real 'po-
pies money. The sentiment grow
Reason has not established ii and
reason could not check or dislodre
IL. u. Ilb.)
end the quotations with ono which
dIscloses MIR. Wilson'S fundamental
conception of money. Study this If
you study no other; it is fearful and
wonderful.
The coincidence of high prices
and eager markets with floods of pa
per. coupled with the indisputable
fact that the return to Stacker de-
mand. lower prices n a greater
scarcity of money had been accom-
panied by a considerable contraction
of the redundant currency. and nv
laws which were soon to bring about
q return to specie payments, a turn
ing back from cheap money to dear
confused the thinking of some men
who had long been in contact with
public affairs; and those who could
not go quite the leneth of the green
backs turned to silver for relief"
Crude and Ignorant Minds.
] venture in behalf Of the crude and
ignorant minds to give a. paraphrase
or this sentence. even though my at
tempt may seem to jump with the
humor OF hundreds of thousands of
w~orkingmen n farmers the country
over. 1t is as follows: THE conf
dence of heavy rains and high rivers
as we'll as the indisputable fact that,
in time of drouth. the rivers were low.
led experienced men to the confused
notion that the supply of rain had
something to do with the height of
streams"
] venture to say hat a few mill
mons OF Democrats who live remote
from the seats Of trade. and know
nothing of it's laws have a right to
ask whether Mr.. Wilson, as their
president. would apply such concep-
tlon OF finance to Senator Aldricl's
currency measure. which is becoming
a political issue If a half million dol
lar campaign fund can make 1t an is
sue. I have repeatedly defended tho
sincerity of Mr.. Wilson in recent
change Of his Views.
do not doubt it at all. But it Is
that he has a profound CONTEMPT
for the Farmers Alliance. the Ponn-
lists. Greenbackers, bimetallists.
trade unions. small Office seekers.
Italians. Poles. H~ungarians. pension
ers. strikers, armies of unemployed.
To him these classes represented no
economic wrongs: Cleveland has been
his w~orshipped idol as a president: he
has regarded tho cast and the bankers
as the sole custodians of financial wis.,
dom. The vital question is, Has a
year destroyed all these Impressions
and put mercy. charity. lOvc and ma.
tiOnality into a hardened heart?
am eager to believe it, but I rely
on faith for justification. Two E
ments are against him. Jefferson
taught us that the great menace to
the republic was the courts. but Mr..
vVtIann nhfnnto IN ~ 49, "a 1885,