People's Pilot, Volume 6, Number 34, Rensselaer, Jasper County, 11 February 1897 — MORGAN’S COMMENT. [ARTICLE]

MORGAN’S COMMENT.

Snap Shots Taken from the Fasslng Procession. The Globe-Democrat, which, by the way, is very good plutocratic authority, says: “The principal thing to be done in dealing with the Pacific railroad matter is to get back as much as possible of the vast sums that certain bandits have made out of the property at the expense of the government.” Why not prosecute the bandits the same as we do common highwaymen and footpads, and also proceed the stolen property as in the case of common thieves? * * * It is amusing to note the frantic efforts of the plutocratic papers to inspire the public with the hope of “returning confidence.’ Here s a sample:! “The savings banks report a large increase in number of new depositors since the November election. This is one of the best proofs of returning confidence, as well as of a gradual improvement, of business.” K business is reviving why is the money going into the savings banks? It takes cash to run business and the more money there is out of the banks the better the indications are that it is being invested in business enterprises. * • * There is some significance in this increase of deposits, but it can hardly be said that the hoarding of money will tend to revive business. As between dishonest bank officials and ordinary footpads and highwaymen the possessor of cash funds is between the devil and deep sea. And with the increase in the number of “holdups” and robberies on the one side and the corresponding increase of bank failures on the other hand, the sea room is narrowing down very rapidly. It begins to look like a good burglar-proof safe was the best solution to the problem. * * * Chauncey M. Depew, the $50,000 a year railroad president, in one of his recent orations said: “It is the result of my study, experience and observation, that the best day is to-day, and to-morrow will be better.” There i 3 some very good philosophy in that observation, and it is to be regretted that the conditions are such that it cannot be almost universally applied. With a great many people—far too many—• the situation could be more truthfully expressed in the words, “To-day is the worst day, but to-morrow will be worse.” Mr. Depew seems to see only the bright side of life. He would forget that his words and philosophy cannot be applied to the wretched poor that have not left to them even the opportunity to earn their bread. A better philosophy would be “the best day is that in which we do the most for humanity.” * * * The St. Louis Republic, commenting on the probabilities of co-operation, or, a continued alliance between the democrats and populists, says: “Populist members of the legislature in this state went into caucus with the democrats and thus signified their intention to act with the party. It is probable that in this and other states many democrats who had wandered into populism will not return to it, but will stay in their, old party. But certainly all of that crowd of political wild steers known as the Middle-of-the-Roaders will probably get together on a platform which will embrace flat money and all the isms of the extremists. As hard money is a basic principle of democracy, this action on the part of the populists must signify the parting of the ways of the late allies and a triangular fight four years from now.” It seems that the republic “snuffs the battle from afar,” and it certainly is refreshing to see it so frankly announce its allegiance to the money of barbarism. Yes, all true populists will take up the fiat for real scientific fiat money and press the fight to a finish.

Senator Campbell of Labette county, Kansas, has introduced a bill in the senate of that state modeled somewhat after the Coxey good roads, non-in-terest bearing bond plan. The bill provides for the issuance of $3,200,000 in state script intended to circulate as money within the boundaries of the state. The bill is ingeniously gotten up in order to evade the provisions of the state and federal constitutions, which prohibits a state from issuing money. The title of the bill is “An act providing for the employment of idle labor on roads and the issuance of notes therefor.” Its intent is for the various counties of the state to put idle men at work on the public roads and other public improvements and pay for the same in notes nominally issued by the counties, but in reality by the state. * * * According to the provisions of the bill these notes will be issued 'in^the following manner: The governor shall procure notse which draw 1 per cent interest, mature in 10 years and are exempt from taxation. A county can procure them from the state and issue them, the state simply “recommending” them to be worth their face value. They are then supposed to circulate as money, are receivable for state end county taxes and are ultimately redeemed by the state. In order to provide against too great an issue of the notes being made the bill provides that no county shall receive or issue an aggregate amount of more than 1 per cent of the assessed valuation of that county, in one year, and not more than 4 per cent during the entire 10 /ear 3. W. S. MORGAN. The McKinley administration is not now on trial, but the result of the election, so far as it affects the confidence of business men, is, and so far ha» proved to be a disappointment and failure. Confidence was apparently restored, but prosperity never showed up.