Democratic Sentinel, Volume 22, Number 43, Rensselaer, Jasper County, 5 November 1898 — REPUBLICAN CURRENCY REFORM. [ARTICLE]

REPUBLICAN CURRENCY REFORM.

luAfcr last two letters I have tried to Wefly but correctly explain the working and effect of house bill No. 10,289, which the honee commiite on banking and currency favor, and which will doubtless become a law if the party in power have a majority in the next congress. The bill is so repulsive to the common people, providing, as it does, for Che demonetization of our present stiver dollars and the surrender to the banks of the currency of the country, that the Republican leaders naturally try to shirk responsibility for it. But the evidence which connects them with thia measure and identifies it with their 1 proposed “comprehensive monetary legislation” is so complete and clear that the same evidence in a criminal court would convict a man of murder.

The very phrase used in their state platform was coined by the Indianapolis monetary convention which inaugurated this currency reform scheme. That convention was composed of men who had supported McKinley in 1890, and its work received his especial commendation in his message to the last congress; the leading factor in the Indianapolis monetary convention, Hugh H. Hanna, is a prominent candidate for the senate should the Republicans control our legislature; the convention’s bill was introduced in the house by Overstreet of Indiana, who is once more their candidate for congress and whose renomlnation was urged at the time by the Republican management on the ground that he stood for this currency legislation; the bill slightly amended has been favorably reported by the house committee who recommend its passage; this reported bill is known as H. R. No. 10,289, and the action of the house committee in reporting it for passage estops the party from disclaiming it now; their action was manifestly the result of a caucus and almost every Republican member signed a petition asking for its report. Besides, Mr. Hanna declares in a public letter that a careful poll of the house shows that tne friends of “sound money” will support the measure. . *

This currency reform was conceived by a convention of “business men,” it remains now for the common people to pass judgment on it. It will not do to stand idly by and await the action of the next congress. If that congress is Republican we know what currency reform they will give us. It means that our silver dollars shall cease to be standard money, but, by being made redeemable in gold, shall sink to the level of mere token coin. It means that the volume of our standard money shall be contracted, making gold the sole money of redemption. It means making our public debt, now payable in coin, a debt payable in gold alone. It means the destruction of our government currency and the substitution of a national bank currency to take its place—a currency whose volume can be absolutely controlled, that can be expanded or contracted at will, leading to speculation or panic, inflation or bankruptcy of the masses at the pleasure and profit of the few. A Republican congress means the passage of this legislation, and then in any attempt to change it or repeal it, we will be met with the old argument of “vested rights,” with which the money power has defended all of its usurpations. The time to speak out is now; and upon the issue impending in this election, we may confidently appeal to men of all parties. You may be a “middle of the road” Populist and disinclined to accept bimetallism as the best solution or the end of the financial question. In this campaign we are both fighting for our lives, fighting to the end that, in 1900, we may be able to renew our struggles for our respective ideas. The final triumph of gold redemption, the demonetization of the coined silver that is left us, and the establishment of national bank currency which will be achieved in their proposed “currency reform,” will make both our efforts childish and vain. Let us stand together. Let us not lose a vote. Let us not waste a shot in defending ourselves against the further encroachments of the banking power. Are you a Republican? Well, you may not be prepared to accept bimetallism, and perhaps the free coinage of silver could not be restored under this administration even though we carried the coming elections. But you surely do not want our volume of standard money contracted still more: you surely do not want to see the money function taken away from the silver dollars already coined by making them a mere subsidiary coin, redeemable in gold; you surely do not want to see our national debt, most of which was created on a greenback basis ?,nd all of which is now on a coin basi ; and payable in either our coined silver or gold, made payable in gold alone; you surely do not want to see our government retire its paper money simply that the national banks may issue their currency to take its place. Upon these issues we may certainly agree, and these are the living issues of this campaign. These and not matters of party pride or colonial expansion or the glorious reminiscences of a war, go to determine the success of your life and the prosperity of your business. The present mission of the Democratic party, the object to be attained by Democratic success in the coming polls, is. above all things, to prevent a further contraction of our standard money. To preserve the contractual option of paying our coined bonds in either gold or silver; to maintain the sovereign and constitutional right of the government to issue all money; and to prevent the grant to national banks of the power to issue and control the volume of our currency.

The eulmination of a gigantic struggle is at hand, and above all questions rise* the interrogatory “who shall rule in this republic, humanity or wealth? Who shall issue and control' our money, the national banks or the people speaking through their congress M the constitution provides?” What will your answer be? Hbnsy Warrum. BEAUTIFUL SEA SHELLS. Everyone admire? them. Si» ce coming south 1 have receive numerous inquiries from northern peopb’ for sea shells, and now 1 am pre ateii to answ r ves, I can eend yon ghel's for 1 ha e made quire a '•ollection of lovely ? el".?, both from our o- n coast, and the c ral reefs, and some beautiful n 's from the West Ind a islands. I will mail a dozen or more differs Lit kiiius. no two alike, to any one v. ho jgends a stamp for postage. Yours, Mbs.!?. A '• arnek, Jacksonville, Fla.

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