mmimimtt)mmMmfm
mMm&Mmfmattnun m
S
1
:,
m-
i
i
W
'(
Very Important Bearing,
Tho Washington correspondent of tho Chi
cago Record-Herald in a diflpatch to his paper
undor dato of February 8 intimates that tho al
leged telegram from Mr. Rockefeller to cortain
republican senators was mado public by President
Roosovelt This correspondent quotes one senator
as saying that it was certainly remarkablo that
coupled with tho publication of this telegram is an
authorized statement from the White houso that
unless there is trust legislation there will bo an
extra session of congress. This correspondent
explains:
"Although this senator did not malco a
positive statement to this effect, ho indicated
that It was entirely possible that tho admin
istration had desired tho publication of tho
tologram and given it publicity through somo
of its representatives in tho senate.
"If this should bo tho fact, or if It should
bo gonorally boliovcd to bo tho fact by trust
magnatos, tho political significance of Biich a
development would bo very great and might
have a very important bearing on tho action
of tho next national republican convention."
This is an interesting suggestion. It seems
to mean that if Mr. Roosevelt sought to employ
tho alleged tologram for tho purpose of whipping
tho sonato Into lino and forcing through tho so
called anti-trust bill, or if this should bo generally
boliovcd to bo tho fact by trust magnates, Mr.
Roosovolt would bo defeated for nomination by
tho trust magnates in 1904. This Is tho "very im
portant bearing" to which tho Record-Herald cor
respondent rofors.
Although a few months ago it was believed
that Mr. Roosovolt would havo a walk-away in
tho republican national convention, tho Impres
sion has boon gaining ground that, after all, thero
will be stumbling blocks in his pathway. Tho
Hanna boom is already in a high state of cultiva
tion and if Mr. Roosovolt should conclude to bo
really sorlous on tho trust question, it will not bo
at all surprising if tho trust magnates tako a
hand and produce a "vory important bearing" on
the action of tho next republican convention.
Kill the Trusts Now.
On anothor page will bo found an extract
from tho New York Journal on tho trust question.
While it may exaggerate tho situation, it sets
forth a fact that ought to bo recognized. Tho
largor the number of stockholders of the trusts,
tho harder It will be to destroy them. It is ex
ceedingly difficult to persuade tho average man
to sacrifice a specific and definite sum, however
small, to secure a largo but undefined public good.
His solflshness and his conservatism are both
arrayed against tho reform. He says: I know
I will lose a cortain number of dollars, and while
I might gain more, tho gain is uncertain,
while tho loss is certain.
Tho editor of Tho Commoner once met upon
tho train a prominent minister of the gospel
and his wife, and in tho course of conversation
learned that tho wife hold stock In a woll-known
trust It is scarcoly necessary to say that a care
ful perusal of tho minister's sermons failed to
disclose any attack upon tho trust evil. It is diffi
cult to convince a person that tho public suffers
from a system so long as he is sure that he
himself profits by the system, and it is not easy
to convinco tho average man that ho ought not
to take advantage of the profits on trust stock so
long as tho trusts aro allowed to exist In tho
beginning he is opposed' to tho trusts, but ho says
-how often wo havo heard the argumont-that
Jong as the trusts aro allowed to exist thero is
no harm in his making tho profit; somebody will
make tho profit, why not ho? Of course, in the
beginning ho Is in favor of legislation that will
destroy the trusts and only intends to mni ,
Shlli TU tUS l0gl8latlon iB onactea.mA tera
whilo ho begins to enjoy tho nrniu n
thought of losing Ut7llt makHLMcL
The Commoner;
vative about remedies. Ho gets to feel as the
president expresses himself, that wo must act
"with great caution" and "deliberation," or, as
Mr. Knox says, that it is more necessary to act
"wisely" than to act "speedily," and one is not
apt to think a measure wise that lessens his in
come. Tho New York Journal is right In saying that
it will be easier to destroy tho trusts now than
five years from now. Some of the republicans say
that in ten years from now tho trusts will havo
died a natural death. The trouble about that ar
gument Is that it gives tho trusts the benefit of
ten years of unmolested activity without guaran
teeing to the people either that the trusts will
be dead then or that it will bo as easy to kill
them then as now.
By tho watering of stock a largo sum is mado
by the organization of a trust, but this -profit can
bo realized at once by selling tho stock, and tho
trust magnates are now unloading. If a trust vio
lates both a statute and a moral law, how can a
person in good conscience hold trust stock any
more than ho can share In tho profits of any
other criminal act? But observation shows that a
large number of people do not apply conscience
to such a subject and, therefore, it is more neces
sary that the government act speedily, before too
large a number acquire a pecuniary Interest in the
protection of the trusts.
JJJ -)
France's Method.
A reader of The Commoner sends a clipping
from the Chicago Chronicle of December 28. The
clipping follows:
Tho weekly statement of the Bank of
France shows a gain of ?70,000 in gold and a
loss of $180,000 in silver. The power of the
bank to pay out silver was exercised during
the week in order to keep its gold from flow
ing to London to make up tho deficiency in
the Bank of England's losses. The statement:
,, Prance. -Increase.
Gold 2,453,591,000 350,d00
Silver 1,107,116,000 900,000
Circulation 4,304,024,000 23,675,000
Discounts 499,878,000 4,700,000
Treasury advances . . 130,877,000 2,425,000
Decrease.
This correspondent who, by the way, is a suc
cessful business man, referring to this clipping,
says: "It shows a strong demand for gold and the
business-like method of France to keep its gold
at home. Our government is being conducted on
the reverse plan giving the option to the payee
while every banking institution reserves to itself
tho option. What wo need is the application of
banking principles to government finances and not
methods in the interest of financiers."
Dishonest Argument.
r T5"Wh?no,ou handle a Plunk yu handle ono
cLB7aper. dollars-"An Iowa republi!
haveena cenrle SolhaTS?
iT? a?,d his party had their way You
SZhKe a g00d' 10-cent plunk' thanks tS
republican success and wisdom.-Another
Iowa republican paper. iaer
The above items from republican papers il
lustrate the stylo of republican arguments on the
money question. One hardly knows whether to
attribute the language to ignorance or to a desire
to mislead. The silver dollar answers all useful
purposes, and is more used by the masses than
gold ever was. And why Is it good? Because the
government makes it a legal tender for all pubHc
debts and for all private one, too, (excep who
he contract specifically excludes silver) uZy
is a medium of exchange and no ono objects to Z
ceiving a dollar in payment of a debt o in ex
change for a purchase if he is able to dispose of t
in the same way, and the legal tender enables him
to dispose of it But for the fact that gold tZ
Hon is convertible into coin no one would it wit
. yOLUME 3, NUMBER 0.
ing to receive it at a fixed amount per ounce,
and when money is scarce and the coin actually
needed for immediate use no one will receive gold
bullion at the same price that he will legal tender
money. The unfairness of the republican argu
ment consists in the ignoring of the effect of law
upon money. The law that makes money of a par
ticular kind of metal increases the demand for,
that metal; the law that makes it possible for a
man to (Jonvert a given weignt of metal into a
given sum of money fixes the market price of
that quantity of bullion. After legislating against
silver and in favor of gold the republican editors
chuckle to themselves and even boast with their
pencils that silver is not able to keep up with
gold. It is difficult to believe that such editorials
as tho ones above quoted are due to lack of knowl
edge of the subject, and yet it is more charitable
to attribute them to lack of knowledge than to
evil intent
JJJ
Judge Parker's Support.
The following extract from a two-column edi
torial in the Brooklyn Eagle booming Judgo
Parker deserves consideration:
"Two things now stand in the way of
Judge Parker's nomination. One is the re
ported grooming of his candidacy by Mr. Hill.
The other is the resentment which that be
lief arouses in the minds of the Bryan rem
nant We do not think these are formidable
obstacles, for they can be explained and over
come. Judge Parker is too grateful and hon
orable a man to be insensible to what Mr.
Hill has done for him. He is too large a
man to subordinate himself to Mr. Hill in
any office. Neither an ingrate nor a weak
ling, the judge would give to Mr. Hill the
considerable weight to which he is justly en
titled as a democratic factor, but he would
give no man the control of his action or the
determination of his policy, The Bryan rem
nant will have to support the nominee, who
ever he is, and take their chances under
him, or they will have to get out If they get
out, their loss will be more than made good
by better men whom they alone have alien
ated from the democratic party.
"And right here, it should be said that
any movement strong enough to name Judge
Parker will be strong enough to put under
him a platform fit to be adopted and should
be careful to do so. A bad platform could
beat him, though there is much in him which
would make 'the candidate himself the plat
form,' were he the candidate. But in 1904
there can be no democratic reiteration of the
Bryanism of 189G and 1900, on any of the
points against which the country was then
aroused. A Parker nomination should of it
self necessitate a platform that faced the
future and made no fetich of the past The
democracy can nominate the judge and can
then also assure to the people, in a platform
or patriotic and progressive principles, tho
complete reason and justification for present-
i gif? olI suffmSe- tf it cannot make
f0 that ought to be made, it will
ahnrLS hanceand on this matter we are
anii d t0 Pealcof challenging the re
named." & man Wno shold be nomi-
The Eagle is one of the most plutocratic of
the papers that until 189G posed as democratic. It
is one of the most servile and sycophantic of tho
representatives of organized wealth and its editor
ial support must necessarily weaken Judgo Parker
U it is accepted as reflecting his views. The Com-
nort'L t inVtigatG aml' at the prPer time, re
meantimge record' but In the
IZ ti f3 f th Paper w111 intr
nomin h T ?at aCCrdins t0 tHe Eagle tho
pZorm V?.d8e ParkGr Wil1 "eeesaltate a
0ontiatiDg tUe Platf0rms ot 1896 and
J l hQ Pint3 against the coun
to add t 7 r,USed'" The EalG es s-far
party wm, l'" to say that the
S,!t ? VhanCe f "a"enging the re
M such : f aIker t0 nm if th0 ovm is
n! h ? ? M tne EaslG out"nes.
Now, this is the most Important announcement
r
L11-""'"'
jfrt 'nj,mlj'J!"iiifuff!k