People's Pilot, Volume 3, Number 19, Rensselaer, Jasper County, 27 October 1893 — Washinglon Letter. [ARTICLE]

Washinglon Letter.

The Democratic party lias a 1 esident on its hands. A bank note may be redeemed in silver. Then wherein is it . iiy better than silver, though i. is based on a U. S. bond. Notwithstanding the great drought we have just passed t'.rough, wheat in this county is '■citing the best start this fall it has had for years. national bankers are fond o' calling in silver sixty cent dollars, but if you take one of 1 heir notes to the bank for redemption they take it in with silver at par all the same. The only two things that have risen in price in the United States for years, says a writer, are gold and bonds. Farmers, who are the ones benefited by the rise in price in these two things? A BANKER deals in money and like any other dealer he wants a demand for his wares; wants a good price for his “stuff;" hence 1 his great effort of the bankers Io limit the output of that kind of goods we call money. It is not right for a majority of a legislative body to rule unless that body represents a niaI -city of the people. The macity in the U. S. senate repres -nts less than one tenth of the ].:• >o:e of this country Therefore. should not. be allowed to rule. '(■MWBMnMBMNHINMaa A drive through the country shows us that there is more corn fodder in shock this year than ever before. There is no better feed than good shock fodder, besides it is a great saving. Thousands of dollars worth of feed is yearly lost in this county by pasturing stocks.

The world produces two bushels less per capita of wheat than it did twenty years ago, but the gold-bug papers are still trying to delude their readers into the belief that it is over production and not financial legislation that has caused wheat to depreciate over sixty pea cent, in that time. In anticipation of the repeal of the Sherman law. the loan companies recently advanced their rates of interest on farm loan.-.. They now announce that they will call in a'l their loans on western and southern farms. That “object lesson" is to be repeated cm a larger scale, than the bankers' panic, it seems. The Plutocrats want to issue more money but do not want to put any more in circulation than already exists. Their plan is for the government to issue hl 50,000,000 in bonds to buy gold to piie up in the treasury as a reserve. The banks then will use the bond as a basis for their notes which they loan at twelve per cent, while they draw interest on the bonds. We are asked to adopt the gold standard that we may stand with the most intelligent and prosperous i ations of the earth. Well, yes; England has lords and dukes, a hereditary monarchy, an established church, free trade end a gold standard. E-t’'- have the same here and we k - I

will be intelligent., first class and prosperous. Germany is a first class nation, a large standing army, a pauperized peasantry, a crowned Emperor. a high protective tariff, and a gold standard make her so; let’s have all these things here and be a first class nation too. Let’s confer titles of nobility and in this way make “America fit for gentlemen and ladies to live in."

We are told by the few mono- ■ metalists we meet on the street, that if half our money is demon etized. the other half will just as well fill the place. They sax’ a dollar per day will now buy no more than a half dollar will buy when half the present amount of money is in circulation, or double the present amount of money and it will require two dollars to buy what one dollar now buys. Increasing the amount of money increases the price of everything else, they say, and a proportional increase all round leaves everything relatively just as it was before, consequently no one is benefitted by the change. This proposition looks very plain, but why’ the effort, the great effort to reduce the amount of money if increasing it has the same effect as decreasing it? If this rule of increase and decrease in our circulating medium, like all other good rules, works both ways, why are not our bankers and boards of trade just as willing to increase as to decrease. Just as willing to let things remain as they are as to change them? No, everybody knows that the money power always works for the decrease of money. An increase of circulation benefits the debtor class, a decrease of circulation benefits the creditor class, but a policy that increases and decreases our circulating medium in proportion to the increase and decrease of our population, commerce and industry gives special advantages and privileges to no one. This is the policy that should be persued, but it is the very policy the money power has successfully opposed for the last twen-ty-five years.

From our regular co-respondent. No speech made since the opening of the extra session has been as much talked about as the one made this week by Senator Sherman. It was in some respects one of the most radical ever delivered in the senate. For instance, when he said, “If Mr. Carlisle does his duty he will at once stop the expenditure of all money where it is not fixed by law and where it is not imperative. He ought to suspend the erection of public buildings and all public improvements.” Should Secretary Carlisle act upon that advice without being' specifically directed by congress to do so he would precipitate a row that would be far more dangerous than the one now on hand over silver, and Senator Sherman's party associates would be the first to attack him. A senator, speaking of that portion of Mr. Sherman’s speech, said: “I cannot regard that advice as more than a bluff to secure votes for the Voorhees bill. It is true that Secretary Carlisle estimates a deficit of -$50,000,000 at the close of the current fiscal year, but even if there were a deficit of that amount at this time the secretary of the treasury would not be justified in assuming such extraordinary authority. - Congress is in session and will prov ide means to meet this deficit before it adjourns, regardless of what disposition it makes of the silver question, and you may be sure that it would resist any I such assumption of authority as that proposed by Mr. Sherman. The people also, regardless of politics, would resent having the millions of dollars now regularly paid out each month for wages and material on public buildings and improvements cut off by a- stroke of the pen. It would be worse than cruel for the government of the wealthiest country in the world to add to existing suffering on the eve of winter. It would be more statesmanlike to provide for the spending of more money on public works than to cut off what is now being spent.” r l his week ./ill be remembered

a long time by the members of die senate. To begin with, a lot of the senators were put in a bad humoi- by the success of President Cleveland in preventing a compromise on silver after it was almost agreed upon, a success that later brought down upon Mr. ClevelanH’s head this sharp language from Senator Morgan: “When you leave the executive mansion and come here to guide us in legislation, you must not feel at all affronted | if we take up the veto power and ! use it on you. You shall not interfere with us.’’ During the entire week personal bickeijipgs have been almost constant on the floor of the senate, between the friends and opponents of the

Voorhee’s bill. The most significant event of the week, however. was the way the silver Democrats put the administration Democrats, as the friends of the Voorhees bill are called, on the defensive, by proposing a Democratic caucus to settle the silver question, every man who attended the caucus to be bound by its decision. The administration senators declined to sign the call, but enough names were secured to get the caucus without their signatures, but they will not, of course, be bound by its action. Senator Vest originated the idea and circulated the call. Another silver Democrat said of it: “We got tired of listening to the twaddle about the rule of the majority which has been fired at us by administration senators. We believe in the true 7ule of the majority; they don't. The Democrats are in the majority in the senate and are entitled to the control of legislation. In only one way can that be done, and that is the way we propose—by holding a caucus and allowing the majority to map out a programme. That we wish to do and the administration senators fear to do. That’s the whole business in a nutshell.” This was a clever move on the part of the silver Democrats, although they ran no risk, as a majority of the Democratic senators are with them.

A curious and rather suspicious state of affairs has lately come to light in connection with the gold reserve fund of the treasury. Although no gold has been shipped to Europe that fund has dropped off about $12,000,000 in a few weeks. Investigations by national bank examiners show that the holdings of gold by the big eastern banks have within the same period increased exactly the amount that the treasury fund has decreased. From this it would seem that these banks gobbled up the gold that has lately been paid out by the treasury in large quantities and locked it up in their vaults, instead of allowing it to remain in circulation and eventually find its way back into the treasury, as most of it would have done. The house this week passed the McCreary bill amending the Geary law; the Cox bill prohibiting national banksloaningmoney to their officers or employes without the consent of a majority of a quorum of their boards of directors, and a bill repealing the law requiring loyalty to be proved by applicants for bounty lands.

Perhaps some of our readers would like to know in what respect Chamberland’s Cough Remedy is better than any other. We will tell you. When this Remedy is taken as soon as a cold has been contracted, and befoie it has become settled in the system, it will counteract the effect of the cold and greatly lessen its severity, and it is the only remedy that will do this. It acts in perfect harmony with nature and aids nature in relieving the lungs, opening the secretions, liquefying the mucus and causing its expulsion from the air cells of the lungs and restoring the system to a strong and healthy condition. No other remedy in the market possesses these remarkable properties. No other will cure a cold so quickly. For sale by F. B. Meyer, the druggist. , The St. Joseph’s Catholic church, at Mishawaka, was dedicated last Sunday. It cost $50,000.