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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (March 15, 1907)
'.- -; i V 1. '-: . T z- ' , a ' . iLSSRGEC-15; 1007 -W' j " The Commoner. C 3 i - i '! ' i " i 7 "" V j. T .- fc3Sf ,i. te r K r' V-' "' lit?-- a-T-i;-' !"?. ' t 'PWr OCT . s, r. jr j- a .-.. -- - SX j -V IWSTidJ -, n fa te, r r t t. ;, r'. - W , ; fVTT tlic volume of (lie currency when it stilled their purpose to "make money scarce arid therefore dear;" Und the bankers obtained this increase froui $3,000,000 to $9,000,000 in order that they be given just that much more power over the peopled money and just that much more ability to contract the money volume. Under the Aldrich bill the secretary of the treasury may deposit the customs receipts of the government in national banks, giving to the banks the use of uch funds without interest. Mr. Aldrich and other republican leaders refused to permit the amendment of this bill as suggested by Mr. Nelson to the effect that the banks pay the government two per cent interest on its balances. They rejected the Nelson amendment even after Mr. Culberson had reminded them that the cus toms receipts now amount to o00,000,000 annual- ly. Mr. Aldrich and Ids fellow republicans con tended that the object of. the bill was to place the. money so the people could get the use of it "in their business;" and that the -government was con cerned more in the distribution of these funds, particularly in the times of money stringency, than in the amount of interest that might bo Ob tained. If that is all why do not the republican leaders take up the old time populist sub-treasury plan for loaning money; as some have termed It, ,"on wheat stacks and bales of hay and cotton?" That plan has been laughed to scorn by many re publican leaders' and has been called "an unbusi nesslike proposition." In the view of these "men of genius" to loan money direct to the people "on wheat stacks and bales of hay and cotton" and at a fair rate of Interest is "unbusinesslike;" but, in their view, it is thoroughly businesslike for the government to loan to national bankers, and with out a penny of interest, the enormous sum of $300,000,000 per year in the hope that these "men of genius" will keep the money circulating among the people. But no one has yet answered Sena tor Nelson's point that there is no law authorizing national banks to loan the public funds. With all the privileges already accorded them these "men of genius" desire to bo given the priv ilege' of issuing money on wind, a plan popularly - known as asset currency. Two powers are essential to tills plan. :The,onc is the powder to contract the volume of J currency when contraction suits the purpose of the ' '"mon nl' ctmiIhk'' Thnv hnvr hnon flvon f-hnh power so far as they, at present, dare go by the increase in the Aldrich bill of the ninouut of notes that may be retired during any one month, from $3,000,000 to $0,000,000. If the republican party is continued in power . these ."men of genius" will, be given the other '" power by the authority to expand the volume of .currency at their pleasure through the asset cur rency plan. This will enable them, whenever it suits their purpose, to flood the country with "no cent dollars." , While the people are being told that "the money question is dead" our "men- of genius" arc mov ing for legislation so preposterous that it ought to stir, the people to action. When the system in - view shall be completed the people will bo abso lutely helpless before the money kings of the ,world. oooo "FEARFULAND WONDERFUL" A Washington dispatch printed in the Wall .Street Journal quotes Comptroller of tho Currency Ridgeley as saying that, while the Aldrich bil increases the amount of national bank notes that may be retired any one montli . from $3,000,000 to $9,0,00,000, it is necessary that the consent of the comptroller and the approval of thd secretary of the treasury be obtained before the maximum amount may be retired during any one month. In the same issue of the Wall Street' Journal and in a Washington dispatch wo find this: "Secretary Cortelyou has advised the comp troller of the currency that he will approve - the applications for retirement up to $9,000, 000 for the month of March It will doubtless 'i be the policy of the department to approve ap- plications for subsequent months, unless some . important reason should arise for limiting them." ' In' the same issue of the Wall Street Journal ' we find .an editorial showing that the banks of the United States on January 2G held a sinallou - percentage of cash to deposits than at the corre- , spondjng periods In the preceding four years. How fearfully and wonderfully made is- the logic" of our great financiers. Money is scarce and the people must have more of it! Therefore wo must have the assot currency law permitting' bankers to issue money on wind! Money is scarce and the people must have more-of it! Therefore .the customs receipts aggregating' $300,000,000 per year must be loaned to 'the banks without interest in order that they may circulate it among th people. Money is so scarce and the demand tor it so great than on January 2G the banks held a - less percentage oi' cash to deposits than at the corresponding periods in the preceding four years. Yet in the face of all of these solemn declarations the republican congress, at the behest of the financial kings, increases from $3,000,000 to $9, 000,000 the amount of bank notes which the bank ers may retire during -tiny one month and within, twenty-four hours after this bill becomes a law the new secretary of the treasury announces that he has approved the applications for retirement up to the $9,000,000 limit for the month of March. And we are told by the Wall Street Journal, "It will doubtless be the policy of the department to approve applications for subsequent months un- . less some important reason should arise for limit- " ( lug them." Is it possible that in the light of all these facts the republican who has barkened to the "let well enough alone" plea will refuse to openJils eyes. OOOO THAT TRIP TO THE "INTERIOR" In the opinion of the Sioux City, la., Journal, "the long campaign for the enactment of ship sub sidy legislation has finally terminated In notliifig more tangible than the accumulation of a stock of political capital by the democrats." The Journal seems disposed to place the blame upon Mr. Roosevelt, saying that but for the presi dent the bill would have died in the pigeon hole of the house committee. The Journnl concludes: "There will be much talk of ship subsidy in the national campaign next year, and the democrats flatter themselves that they will have much the better of It. While there is support of the proposition in the sea coast states, and while, nts was demonstrated by Secretary Root, powerful arguments canbe made for it in the interest of the whole coun try, the fact remains that the prospect of a perpetual subsidy to ship owners Is not fav ored In the great interior regions. Whether or not this prejudice is well founded is imma terial for political purposes. The democrats will, appeal to it, and will tell the people that the democrats saved them from a subsidy law passed by the republicans 'in both houses of congress and heartily indorsed and vigorously pushed by the administration. It may be pre dicted that not a few republican congressmen - - will be found explaining to ther constituents that their votes for the house bill were cast in deference to the wishes of Theodore Roose velt rather than from belief in the principle back of the bill." This is a fair sample of American sentiment, yet Washington dispatches say that Mr. Roose velt Intends sOon to take a trip Into the "Interior'' for the purpose of -making speeches in behalf of one of his pet plans and "educating the people . upon ship subsidy." The Commoner does not hes itate to predict flint If Mr. Roosevelt does lake that trip and make that effort he will return to the national capital a wiser man than when lie left It OOOO ' FRANK E. GRIMES, OF KANSAS , When Frank B. Grimes was treasurer of Kan gas a clerk In his office embezzled nine thousand dollars. It was never charged that Mr. Grimes had either knowledge of or share in the pecula tion. When the shortage was made known Mr. Grimes immediately made good the shortage, dis daining to avoid responsibility by legal quibble or technicality. Mr. Grimes retired from the office poorer than when he entered it. A friend, with out the knowledge or consent of Mr. Grimes, in troduced a bill in the legislature to reimburse the ox-treasurer, and there was every prospect that the bill would pass. But when Mc Grimes heard of it he immediately Insisted that the author of the bill withdraw it "I could not accept reim bursement even if both houses voted it to mo unanimously," he wrote. "I paid the money back because It was right that I should. I have the confidence of the people and this I want to retain. Any amount of money is a small thing compared with a man's honor and good name." "A good namois rather to be chosen than great riches." And every man who loves honor will take .off his hat to Grimes of Kansas. ' OOOO NEW HAMPSHIRE DEMOCRACY M. Median, editor of The Patriot,. Concord, New Hampshire, writes to The Commonerr "The democratic party Is In better condition in New Hampshire today than it has been in twenty years. The truth of that statement Is very generally Ad mitted, even-by our political opponents. In the campaign of last fall for the governorship of the state and minor offices, the vote -was a very close one, and as a majority of all votes' cast Is re quired to elect, the choosing of a governor was thrown into the legislature, and even in the leg islature there was a bitter fight, and until the roll call was completed, much doubt as to the outcome was entertained, but the republican candidate suc- cceded, and Mr. Floyd U our governor. Our rep resentation in Hie legislature is nearly double what it has boon in any one hoshIoii in serornl years, and (he drift of sentiment throughout the state is our way. In our last platform, wo de clared unequivocally against the domination of the railroad, and other private corporations in slate affairs, against the political railroad pass, agidimt machine rule in the republican parly; In favor of n DS-hour law, 'ind against child labor in our mills and factories, und we nominated a man for gov ernor who has the confidence of the people or the Btate, Nathan ('. Jameson, a democrat who Is on titled to any honor the state mlglk confer by virtuo of his loyalty, cleanliness and capability. Our leg islature has been in session eight weeks.. The re publicans have u big majority in the house and throe-fourths of the senate, but the majority has failed, In the face of both platform and ple.lges, to do anything to curb the power of the railroad, or limit tho use joL the free pass. A bill has passed the house providing Unit the railroads shall empower the secretary of the state to Issue a rail road ticket to nil members of the legislature, and all state officers holding a commlssiomns such, but it will not bo likely to got any farther than tho house. It is a farce pure and simple, unconstitu tional unquestionably, and Instead of making a fewer number of passes possible, adds several Oiundred to the list, and while it would seem on the face of It that the recipient of the pass would bo indebted to tho stale instead or the railroad, yet, as a matter of fact, tho obligation to tho rail road would be about as In the past. Our state organization Is ery complete, and democrats are enthusiastic from one end of the state to the other, and they have a belief that the time is not far away -when there will be a complete overturning in political affairs. The voters of the state are indignant over the failure of the republican party to make good on lis platform, over the failure to enact some remedial legislation, looking to tho abolition of the railroad pass, the enactment of a general primary law, and the curtailing of the state expenses, and it docs seem now that If dem ocrats are wise a securing or. a controlling voice in state aifairs is possible to them." OOOO X?i, N. FAMINE IN CHINA SThe reports concerning tho famine-in China are heartrending. The Christian "Herald, MS Bible House, New York city, Is collecting a famine ro ller fund, and every one who can spare something for this fund !s urged to contribute Immediately. President Roosovelt lias sent a clioMc to this fund and has urged others to do likewise. Through this famine 15,000,000 lives are in jeopardy and the president lias issued a procla mation in which he saj's: "There is an appalling famine in China. Throughout a district covering over 40,000 square miles, and supporting a popu lation of 35,000,000, the crops have been destroyed, by floods, and millions of people are on the verge of starvation; thousands of dwellings have been destroyed and their inmates are without homes. An urgent appeal has been made for the assistance of ttie United States. Our people have often, un der similar conditions of distress in other coun tries, responded generously to such appeals. Amid our abounding prosperity, assuredly we should do our part to aid the unfortunate and relieve the distressed among the people of China, to whom we have been allied for so many years in friend ship and kindness." J- . H EVER A SONG SOMEWHERE" There is ever a song somewhere, my dear, - There is ever a something that sings ajway; There's the songpf the lark when the skies aro clear, And the song of the Uirush when the skies are , " ray; The sunshine showers across the grain, And the bluebird trills in the orchard tree And in and out, when the eaves drip rain, The swallows are twittering ceaselessly. . There is ever a song somewhere, my dear, - T Be the skies above dark or fair; . c There is over a song that our hearts may hear There is ever a song somewhere, my .dear? " . There is ever a. song somewhere! 5 There is ever a song somewhere, my dear, In the midnight black or the midday blue; The robin pipes when the sun is here, And the cricket chirrups the whole througu; $ The buds may blow and itlie fruit may grow, And the autumn leaves drop crisp and sore; But whether the sun or the rain or the snow, There is ever a song somewhere, mj' dear. -James Whitcorab Riley. n if n at i y frrf&jdUw. afciU..a . ,jEf,v " Y. s W. I -