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Jaw, the remedy for which democrats havo been
contending for sovoral years.
And now tho republican secretary of wur, by
directing that canal supplies bo bought in Europe
.because tho prices charged by American tariff
.barons are excessive, has turned his back upon
,liis party's long-mado claim that tho American
, manufacturer was entitled to protection as a right,
J and has planted at least one foot on democratic
' ground.
Some of theso eminent republicans are mak
ing very freo with democratic doctrines and
democratic remedies. One by one they seem to
bo taking up tho very things which they havo so
vigorously and so often condemned. No one can
say what will bo tho next democratic remedy
they will take; no ono can say what will bo tho
next democratic doctrine missed from its accus
tomed place. An old colored woman in Washing
ton, after having been treatod for several weeks
by a physician of her own color, called in a white
doctor. She was asked by her new attendant,
"Did the other doctor take your temperature?"
Tho patient replied: "I dunno. I haven't missed
flothin' but my watch so fur."
JJJ
THOSE SOUTH AMERICAN CLAIMS
The Washington Post quotes Mr. Frank Plum
ley of Northflold, Vt., ono of tho judges of tho
first arbitration commission to hear the claims
of Franco and Germany against Venezuela, as say-
Ing to tho students of Dartmouth College:
"I do not know much about the claims
6f tho New York and Bermudez Asphalt com
pany, but if I were the United States govern
ment I would scan very closely the com
pany's claim boforo engaging in any alterca
tion with Vonezucla. During the sittings of
the commission of which I was umpire, the
claims of tho American Steamship company,
whose accounts were included in tho Ameri
can protocol, wore carefully examined, and
the company got all it deserved when it was
awarded $30,000 of the $3,000,000 which it
demanded. This incident is a fair example of
the attitudo of American companies toward
Venezuela. Americans go there for the pur
pose Of exploitation and of getting rich
. quickly. The result is that Venezuela has a
very bad opinion of the United States." .
If this is a sample of the claims that are
hold against tho South American republics, no
ono need be greatly worried if our government
does not turn itself into a debt collecting agency.
A company that, will present a claim for three
millions when it is only entitled to thirty thou
sand, does not deserve assistance. The presenta
tion of such a caimis an injury to the United
States because it arouses a just indignation
aganst tho, claimant and if he is an American
the indignation is apt to be directed against all
Americans. The more the claims against the
South American republics are examined the more
it will be seen that they belong to exploiters
and to speculators who are trying to coin the good
name of our country into money, .regardless of
''the effect which their misdeeds may have upon our
nation's standing.
JJJ -
JUST LIKE AN 1896 "ANARCHIST"
In a recent issue of the Wall Street Journal,
an editorial was printed showing that concen
tration of capital and growth of combinations
and trusts are, going on all over the world. The
Journal concluded that editorial as follows:
It would seem at first glance that a re
publican form of. government like qurs would
be unfavorable for an economic evolution of
this character. But as a matter of fact
nowhere else has there been such concentra
tion of capital as in the United States. No
where else, it may be said, does it involve so
much of grave peril as in this country, for it
raises tho question whether freo government
may not break down under the burden of
financial power aggregated in a few hands.
It is just this consideration which is respon
sible for the prevailing unrest and discon
tent. . This is a strange thing for a business publl-
elitl0? t0, Say" ,with resPect to tho disinterested
efforts of the "captains of industry"
Many will, remember having read something
like this in democratic newspapers, and some will
recall that similar statements were made by
democratic speakers, during the campaign of 189 G
Then, men who made statements of this sort were
referred to as "apostles of unrest;" sometimes
thoy were called "anarchists," and very generally
The Commoner.
in circles where publications like the Wall Street
Journal shine, they were set down as "enemies of
law and order," as "assailants of the courts" and
as those who were "bent upon destroying the
business interests of the country." But hero we
have a staid old business publication, actually con
fessing that wo have reached that stage where
tho concentration of capital involves "much of
grave peril," and, in fact, "raises the question
whether free government may not break down
under the burden of financial power aggregated
in a few hands!"
Perhaps the Journal has forgotten that, in
truth, there is no such question in free govern
ment. We learned from history, and the fact was
emphasized by the fathers of our government,
that eternal vigilance is the price of liberty and
that free government is impossible where power
is aggregated in a few hands.
JJJ
TOO FAR-SIGHTED
Senator Newlands, of Nevada, in a speech re
cently delivered, points out with great force the
tendency of the republican leaders , to legislate
for the Philippine Islands, and to ignore legisla
tion necessary for this county. Some of them
are very far-sighted, so to speak that is, tho
farther away the thing is the more clearly they
seem to seo it. No one -has better pointed out
this defect in eyesight than Senator Newlands. '
He says:
"Whilst we have been conquering other coun
tries, monopoly has conquered our own. We have
time to settle the railroad question' in the Philip
pines; we have not the time to adjust the rail
road question in the United States. We have the
time to give a moderate tariff to the Philippines;
we have no time to correct an excessive tariff
in the United States. We can expend vast sums
in Cuba, in the Philippines, in Panama, in colo
nial exploitation and in naval expansion, but we
have no money for the internal development of
the republic. Our harbors and our water-ways
are neglected. Our reform legislation rests in
committees, and- as a result either of favoritism
or of neglect in legislation, the greatest pluto
cracy in the history of the world has been created,
whilst we have kept our eyes strained towards
the horizon of imperial and international
grandeur."
JJJ
A CONVERT TO BIMETALLISM
"
The Springfield Republican, while it supported
the democratic ticket in 1900 on the ground of im
perialism, frequently criticised the democratic po
sition upon the subject of bimetallism. Always
one of the fairest of the newspapers in dealing
with those from whom it differed, it at the same
time adhered to the gold standard theory. During
the years that have intervened since 1900 it has
grown in its application of democratic principles
to public questions until today it stands upon
nearly every plank of the democratic platform It
is an earnest opponent of colonialism and militar
ism, an enemy of the trusts and an advocate of
tariff reform. It also protests against a large navy
and quotes with approval the criticism recently
uttered by Senator Hale in discussing the naval
appropriation bill. But its espousal of the cause
of bimetallism is the latest step that it has taken
towards the democratic position. In a lencthv
editorial on "Progress in Economics, ' it reviews
three books which have recently been published
nQ" , Pri? Jpl?B of PolitJcal Economy," a book by
Charles Gide of the University of Montpellier
France, published by D. C. Heath & Co-'
"Elements of Political Economy," by Prof t q
-Nicholson of the University of Edinburg, published
by the Maomillan company; and the "Principles of
Economics," by Prof. Frank A. Fetter of Cornell
University, published by the Century company
The following is an extract from the iSltS?
Regarding money there is a singular har- .
mony of thought having a striking bearing on
recent political controversy in the United
States. All accept the quantity theory. All aeree
to the soundness of the paper money doctrine
within the bounds of a proper limitation on
the ssues, which might be Imposed, but which
is liable not to be. And all agree to the
soundness of the theory of bimetallism and
the comparative lameness of the monometallic
contention All, in a word, maintain in ef
feet that those "crazy silverites" of ours in '
1896, who so excited the alarm and pitvimr
contempt of the "best thought" of the country
had decidedly the better understanding of the
money question arid the best of the argument
Prof. Fetter says, for example: ulsument-
"Though no change seems likely or pos-
: VOLUME 5, NUMBER 2fr
Bible at the present time, tho free silver ,
cate has been justified by events asa int ?
gold advocates who said that tho amouS080.
money has nothing to do with prices ph of
have gone up as gold has increased X8
free silver advocates have gotten wh-it tv,
wanted through a change for which noitS
party can claim the credit. Yet the nrocS
situation is unsatisfactory and undevolon
A standard better than a single metal, more
stable than a single commodity, is desirable if
it can be found. The money question must
arise again and in- a new form before man
years. The difficulty ha3 not been finally fi
tied; it is but postponed." y Bet
The Republican adds:
And in common with these three econo
mists Frenchman, Englishman and American
this is the view which considerations of ex
perience as well as of theory are compelling
general acceptance.
It will be seen that the Republican indorsca
the opinion expressed by Prof. Fetter. What moro
could it say than that "considerations of expori.
ence as well as oi! theory are compelling the gen
eral acceptance" of the bimetallic theory. Tho
bimetallic theory rests upon solid ground. It was
not proposed as a panacea for a panic but as a
monetary system. However the production of gold
and silver may vary in relation to each other, tho
bimetallic theory will he found more satisfactory
than monometallism of either metal. The support
of so able and candid an advocate as the Spring.
field Republican will be welcomed by all biniet
allists in this country and elsewhere.
JJJ
A CONFUSED DIRECTOR
Director Roberts of the Mint says: "A great
increase in the production of gold means the coin
ing of a proportionate number of coins. There
is no limit set by law upon the amount of gold that
may be put into circulation. No amount of gold
production could lower the value of money so
long as the law says that a gold coin shall consist
of a specific number of grains of metal. An in
creased coinage means more money in circulation."
"When Mr. Roberts says that no amount of
gold production could Ipwer tlie value of money,
so long as the law defines a dollar as so many
grains of gold, he is simply measuring gold by
itself and ignoring the law of supply and demand
as it relates to money. Of course the free and
unlimited coinage of 25.8 grains of gold bullion
into a gold dollar makes it impossible for that
much gold to be worth less than a dollar, but if
the volume of money increase more rapidly thau
the demand for money,v the purchasing power of
the dollar falls. For instance, nobody who under
stands the elementary principles of monetary
science doubts that an immediate doubling of
the gold coin in the United States (the volume of
other kinds of money remaining the same) would
result in rising prices and falling dollars, and
yet this is the very principle that the democrats
fought to establish in 1896. Subsequent events
have vindicated the democratic position; yet re
publicans, financiers and reputed experts in money
continue to use language which indicates that
they do not understand the meaning of the quanti
tative theory of money.
'in jjj
1 -1 ' A PALPABLE HIT
Secretary of the Treasury Shaw recently de
livered a speech on the tariff question. Referring
to our tariff arangements with foreign nations
Mr. Shaw said: "Be it remembered, special
favors cannot be granted to some as against
others without imposing corresponding burdens
upon others against some."
A fine old Omaha democrat who sails under
the nom de plume of "Peter Van Buskirk" directs
The Commoner's attention to this statement by
Secretary Shaw, and adds:
Secretary Shaw seems to have uninten
tionally exposed to public view the most
, objectionable feature of what is called "pro
tection." It is a self evident truth that the
law that enables a captain of industry to
exact more for his goods than the wares
would bring in an open market burdens
thousands with the necessity of paying more
for what they buy than such goods are really
worth. Thus captains of industry are licensed
to rob the public. If Secretary Shaw would
elaborate this text for thirty minutes he
would read himself out of the plutocratic wing
of the republican party.