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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.
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