The Commoner
WILLIAil J. BRYAN, EDITOR AND PROPRIETOR.
Vol. 3. No. 46.
Lincoln, Nebraska, December 4, 1903.
Whole No, 150.
Who Knows, Indeed?
The-Kansas City Journal, & republican paper,
recently objected to the asset currency plan. A ,
Kansas banker wrote to the Journal calling its
attention to the fact that the United States is
steadily reducing its national debt, saying: "It is
fair to assume that in time there would be no
United States bonds with which to secure a bank
circulation," and asking, "Are we, then, to have .
no paper money issued by the banks?"
In reply, the Journal beats considerably about
the bush! It declares tnat it has never asserted
that note issuing is not a proper function for
banks. It explains that "the nearest it has come
to such a statement"" was the declaration that
probably nine-tenths of the American peopie be
lieve that the making of money is primarily a
function of the government."
Then the Journal points out that in France
and England the note-issuing function is' re
stricted to a single great financial institution, be
ing "practically" under the control of the. gov
ernment; and it addsfthat the Kansas banker will
probably say that the Journal hac made the argu-menToT,a?ealfUnitedSatesbank-imilartp
.. ;
the. Bank of JEngland, concluding: ".Wen, the
wisest financial minds of America have never
ceased to regret the wreck of the federal bank
accomplished :by Andrew Jackson, am who knows
what this" currency agitation may yet bring
forth?"
To be sure,; rrho knows what this currency
agitation may yet'' bring forth? In the -opinion
of many of the smaller and yet intelligent, bank
ers of the country, asset currency means, ulti
mately, branch banks and branch banks mean a
great banking monopoly and, ultimately, one great
banking institution exercising direct control over
all the banking institutions of the country, and
thus placing the people more completely in the
power of the financiers than they are even in this
day. That is the purpose of these men who
plead for asset currency and who advocate
branch banks.
But the Kansas banker submitted to the Jour
nal a question very pertinent in its application to
republican newspapers whose editors -object to
asset currency. When there are no longer gov
ernment bonds upon ' which banks may issue
notes or. when the p.emium on these bonds are
so high that bankers will not use them as a basis
for note issue, what will be the plan of the gov
ernment for providing the people with a cur
rency? Is it not true that the choice will sooner
or later rest between some form of asset ' cur
rency and bimetallism? Between a currency Is
sued upon wind, so far as the bankers are con
cerned, and yet for which currency the govern
ment stands sponsor and a currency Issued by the
government based upon the coinage of the con
stitution? Is it not reasonable to oelieve that
these republican editors must sooner' or later
choose between an asset currency, and a currency
issued by the government and redeemable in
gold or silver under a restoration of 'the bi
metallic '.system ? , ' '" " '
. "Calculating Humbug."
The Chicago Record-Herald, a republican pa
per, says that the Home Market club, which makes
unceasing demand for the maintenance of high
tariff and protests vigorously against reciprocity
concessions is at least "a consistent organiza
tion." The Homo Market club is a republican so
ciety and the Record-Herald says "the most in
teresting political question before the country
now is whether the opinions of this club and of
those who sympathize with it are to dominate tho
republican party."
That republican paper adds:
"If, therefore, the Cuban treaty shall final
ly become operative the party will still have
to demonstrate that reciprocity means some
thing more to it than a permissive law and
platform phrases. It cannot go on postponing
and defeating reciprocity legislation while de
riving campaign benefits out of reciprocity
pledges. Little sympathy as one may have for
" the Home Market club, its consistency is cer
tainly preferable to calculating humbug."
"Calculating humbug" is thoroughly descrip
tive of the promises of the republican party. It
is strange, however, that this description should
be applied by a republican newspaper; and yet
we must remember that this is a time for republi
can confession, not forgetting, also, that "while
the lamp holds out to burn, the vilest sinner may
-return. - ., ,.r
..On the High Sea..
..VERY COMFORTING..
Speaking recently at Cleveland, 0., John D.
' Rockefeller, the Standard Oil magnate, said: "Tho
personal comfort that religion has been to me has
been such that sometimes I feel that I would like
to go upon the lecture platform and tell the peo
ple about it."
Soon after Mr. Rockefeller made this state
ment, the Standard Oil company raised tho price
of its product half a cent a gallon and then a
few days later, the price was again raised one
cent per gallon. The New York World's statis
tician figures that the extra income for the cor
poration calculated on the basis of the 1902 out
put is 935,000,000, Mr. Rockefeller's estimated
share of the new profit being $11,000,000.
If Mr. Rockefeller has been so "t.mforted"
by religion as he would have us believe, it Is not
necessary that he go upon tin platform to tell
the people about it. In fact that would not be an
effective plan for It would bo difficult for his
auditors to blot out of their minds the notion
that while Mr. Rockefeller's religion may be very
"comforting" to him, It is not strong enough to
prevent him from imposing upon his fellows.
As Mr. Roosevelt once said: "Words are
good when backed up by deedsand only bo." Mr.
Rockefeller might convince a very large number
of "doubting Thomases" if he would carry his
comforting religion into his every-day life, and
show that it is strong enough to restrain him
from doing wrong and to persuade him to make
amends to the thousands of men, women and
children who have been injured by his greed for
gold.
On Board "The Majestic," Tuesdny Evening,
Nov. 17. "Rocked In tho cradlo of tho deep." I
recalled thoso words whon tho royal mall ship,
"Tho Majestic," dropped her pilot at Sandy Hook
and turned her prow toward Liverpool, but I could
not either tho first night or tho second truthfully
repeat tho next lino "I lay mo down In pcaco to
sleep." But tho ocean was so smooth and tho
weather so favorablo that tho ovldcnces of sea
sickness soon disappeared and tho trip has been
a most onjoyablo ono. Tho steamer flies tho En
glish flag and belongs to tho White Star lino.
Sho is 585 feet long, 58 feet beam and hns a
capacity of 1,433 souls (Including crow of 310).
Tho passenger rates run from $30 steerage to $350
for best rooms In first cabin. There aro only 489
passengers aboard this trip, divided as follows:
C2 first class, 75 second class, 3C1 third class. The
boat also carries a largo amount of freight.
Wo left New York at noon Wednesday, No
vember 11, and will reach Quccnstown soon after
midnight tonight (Tuesday, 17th). Tho west
bound trip Is apparently made In about ten houra
less time because five hours aro added to the time
in traveling toward tho United States, whllo five
hours aro substracted from tho time, going cast.
mm k "
1 ''Captain Edward' J; Sralth;eommander of the
ship, showed a party of us through tho vessel and
wo could not but pralso tho cleanliness and con
venience of all tho apartments and appreciate tho
efforts put forth for tho security of thoso on
board. Wo were awed by tho raasslveness of tho
propelling machinery, and then wo went into
tho furnace rooms and caught a glimpse of tho
stokers who, down In tho dockhold beneath tho
water's level, shovel In tho nearly four hundred
tons of coal required for a day's run. These men
work four hours out of each twelve and receive
about six dollars per week and board- tho rates
established by tho English labor organization.
Ono of the employes in tho cabin said that" tho
stokers on passenger steamers like "Tho Ma
jestic" had much more pleasant work than men
similarly employed on gun boats, but it Is hard to
imagine any labor less inviting than that of tho
begnmmed and perspiring men who kept the
fires aglow while tho passengers above compared
experiences and discussed questions" individual,
national and international.
An ocean voyage furnishes an excellent op
portunity for extending one's acquaintance. At
tho table Mr. Charles Micbaelson, of the New
York Journal, was my neighbor on tho left and
next to him sat Mr. E. D. Vaille, formerly Amerl
tjxn consul at Zanzibar, now on his way back to
that country to purchase ivory for a New York
firm. To my right sat Mr. Barrett, a London mu
6ic writer of distinction, and his wife. They are
returning from their first visit to the states. Mr.
Balcombo of London and Mr. Warren of Louis
ville, Ky., both extensive travelers, occupied seats
at the further end of the table. My son's seat waa
not often occupied, owing to a disinclination on
his part to risk the effect of the boat's motion on
his appetite. At an adjoining table sat thre of
the most interesting men whom I have thus far
met on the trip Mr, Edgar Wallace of the Lon-
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