Show A CURRENCY SYSTEM OF GRAFT That was a first class speech made by Senator on Wednesday in criticism of th the Ald Aldrich ch bill lIe ire almost made clear the fallacy of founding a a currency s system stem on a national debt the debt the making of a war necessity when the very er life of the nation was trembling in the doubtful balance a principle on which to levy leyy assessments on the working hosts of the nation nation for all aU time and which is a strained perversion of the constitution of the republic Ills His point that under the Aldrich bill the emergency currency would become the permanent t currency of the c country u was a vcr very strong one If railroad bonds are arc to toG toe G e used as a basis what will prevent any railroad railroad rail rail- road company when it wants one million or ten tep millions millions mil mM- lions of dollars going to the bank with its bonds and demanding the loan 1 There are arc about miles of railroads in the United States They nearl nearly all nIl need money Under the Aldrich bill what would be their indebtedness to the banks in a single year It is true that we would be glad to see them get their money in this country but we would prefer to see them deal with the government direct If the government gov gOY would return to the old rule make gold and silver the money of the country then issue gold and silver certificates for the amount and then issue as much more in iu legal tenders or in 1 per cent S. S bonds to be used as money then from a central bank the government itself would be able to lend money needed by railroads and would be able to prosecute the construction works so much needed by the government and the work so much needed by idle men In a late New York Times which by the way war approves the Fowler bill but dislikes the Aldrich bill an interesting statement is made as follows U Canada for example knows how to make something more than twenty millions of or specie serve for over seventy millions of circulation The rhe Bank of Germany turns millions of specie into millions of circulation The Bank Bauk of France makes millions of gold support OJ minions millions of circulation but the gold is assisted by much silver it is true Note that last line but the gold is assisted by bj much mitch silver it is true Silver is as much a legal tender in France as gold and the ra ratio tio is 15 2 to 1 of of f gold Are Arc our financial kings any better financiers than the men of France who steer the finances of that country through wars failures of crops times of depression without an any crashes and at the same time make public improvements in any desired direction I 1 IThe The trouble in our country is that those whose opinions opinions i ions ns control legislation are arc so intent upon ha having hang ng everything draw raw interest to the men who deal in finances that the they ignore all the experience of older countries and confine their legislation to what will pay the few This is building up an aristocracy which is the most on earth for it is founded on legalized graft at the expense of the toilers r Napoleon founded a dynasty by th the sword It did not last long Jong for there was nothing behind it itse si se save e his sword and in the eternal equities he was given but a limited career but Napoleon would never nev ncy- never nev- nev er permit a national debt much er less found a currency cur cure rency s system tem on debt for that he held led a nation into corrupt channels and made lions subject sub sub- I Meet to the rule of foxes Well our finances have I been under the fox rule since 1873 and it is time they be emancipated All that is behind credit in inthis inthis inthis this country is the tho wealth of the nation and that is sufficient for all purposes Then why not use it direct direct direct di di- 1 There is more than a billion of dollars of-dollars in b gold old in the treasury But for nearly all of it the treasury is but a safety deposit b box x More lore than si six hundred millions of it belongs to national banks They have ha advanced the amount to the government for bonds For that the government permits the banks to draw drau 9 90 00 per cent in government notes and aud permits the banks to draw the interest on the bonds and at the same ame time b guarantees the banks' banks indebtedness up to the Lull full amount and the gold lies lies' idle in the treas- treas l vury ury Now there is effort ry no to break this arrange arrange- l t but rather Mr l Aldrich wants to give to railI raila railroad rail rail- I road a bonds the same graft |