The Peoples Voice (Norman, Okla.), Vol. 6, No. 26, Ed. 1 Friday, January 21, 1898 Page: 1 of 8
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The Peoples Voice
VOL. 6.
NORMAN. CLEVELAND COUNTY, OKLAHOMA. FRIDAY, JANUARY 21, KP&
THEN AND NOW.
NO
God reigns, and the government at Washington
still lives. —at Lincoln'* Funeral.
God reigns, and the Republican party still lives.
— Boss Hanna lo McKinley, afier (be former's "elernon."
GAGE'S FLAN.
Krailerick C. Ariama, In Til* New Time.
For insolent and brazen nerve the
currency plan advocated by Secre
taiy Gage stands without a parallel
It caunot be discussed from any
standard of ethics. It is the high
wayman's command to "stand and
deliver!" In this emergency the
two questions which at once present
themselves are:
1. Are we to be robbed according
to Gage's plan? Will congress dare
pass any such measure and dare
McKinley sign it?
2. How much tribute will be ex-
acted from us each year, and how
long will this robbery continue?
Lyman J. Gage was president of
the First national bank of Chicago.
For years Mike McDonald has been
a customer of this bank. McDon-
ald was once the king of the gam-
blers of Chicago, and many are the
stories of the relations existing be-
tween him and Mr. Gage. A short
time ago McDonald backed a man
named Murphy, who made a bid for
a city garbage contract. McDonald
deposited with the city his certified
check on the First national bank.
Murphy was awarded the contract.
It was ascertained that he could not
meet the terms except at a loss.
McDonald "welched." He wanted
his >10,000 back. He instructed
the bank not to pay it. .The bank
had the certified check. The city
presented it for payment and the
bank refused to honor it. At the
command of the boss gambler the
leading bank of Chicago repudiated
its own signature The city of Chi-
cago has publicly advertised the
fact that it will accept no check
drawn on Lyman J. Gage's bank.
It was from this institution that
Gage graduated and became secre-
tary of the treasury.
For months the bankers have
been plotting against the United
reason. There ir none. On behalf
of the banks which have possession
of the greenbacks and trea-ury
notes he says ti) the government:
"Give us >8 for $5 " There is no
argument in that. He propo ses to
exchange non interest bearing silver
money for interest-bearing gold
bonds.
This is not a joke. This is not an
incident in a comic opera. It is a
part of Gage's official report He
solemnly proposed this thing, and is
at this writing drawing up a bill for
the delivery of the goods. Serious-
ly, we doubt if McKinley would sign
such a bill. The New l ime desires
to express the opinion that the peo-
ple will never submit to such a rob-
bery, whether he signs it or not.
Gage's report in all its details is
probably the most astounding docu
ment ever written in this or any oth-
er country. It says that the Ding-
'e> bill is all right, and is a great
success as a revenue producer. It
then goes on to say that this year's
deficit is $18,052,000. He estimates
the deficit for 1898 at .*28,000,000,
and for 1899 at $21,000,000. What
lo you think of that? It is funnier
than anything Mark Hanna ever at-
tempted.
All our money—this gtand 100
cents on the dollar money we recent-
ly have heard so much about—is to
be retired and exchanged for bonds
The banks will do the exchanging
Yuu cannot exchange your money
for bonds unless you start a bank,
and the stakes are 1825,000. If you
have >25,000 in greenbacks, treas-
ury notes or silver certificates and
want to start a bank in some town of
2,000 people you can have them
exchanged for 2 1 2 per cent bonds
But that is not all. Mr. Gage also
suggests that:
4. After said banks have depos-
ited such bonds, greenbacks, treas-
ury notes, or silver certificates to
the amount of 50 per cent of their
You had >25,000 when you start
ed on your banking career. It was
in common, every day money, such
as we have at this moment. Some
of it was "fiat money" and some of
it was "50 cents on the dollar" silver
money. You have exchanged this
#25,000 in ordinary money for >25,-
000 in 2 l a per cent gold bonds and
<31,250 in bank notes, which the
government promises to redeem in
gold in case your bank should fail
You have, therefore, a total o f #56.-
250, a nei gift of >31,250 at the start.
Your bonds are on deposit in Wash-
ington, but you will rcceive the in
terest in gold regularly. You have
solved the problem of eating your
ke and at the same time keeping it.
You then start your bank. Peo-
ple come and deposit money wit-h
all great national instrumentalities
and franchises ought to be owned
and operated by the government.
This principle they hold to be vital.
The Democratic party is and always
has been opposed to this theory. It
has uniformly opposed internal im-
provement by the general govern
ment except for military or naval
purposes. That party believes in me-
tallic money as the only real money;
it is a "hard money" party, and it
favors state bank notes for currency.
I'he Democrats are now every-
where trying to get together on the
silver question and they can readily
effect a union by agreeing to a law
which shall have this section nine as
one of its provisions. It is prover
bially a party of compromise. A
party with Croker and Bryan work
you. They may deposit with you. ing harmoniously together in it need
rhey niiiy deposit >500,000. You | not struggle hard or long over so
invest it for them in loans, etc. In trifling a matter as the ratio between
order that these depositors will stand
no chance of losing a dollar, the
government "levies a tax of 2 per
cent a year on your unsecured cir-
culation " I'his is 2 per cent of
that extra >6,250 which the govern-
ment printed for you, and amounts
to >125 a year. This should secure
your depositors against any possible
loss—so Gage says.
Stand off and look at Gage's
scheme. He and his crew propose
to "take the government out of the
banking business," and this is how
they go about it:
I hey make of the United States
treasury a safety deposit vault and
demand and receive interest on idle
deposits. They give Uncle Sam a '
non interest bearing dollar and ex-
act f om him in exchange a gold
bond.
silver and gold I here is nothing
in any of the public utterances of
Mr. Bryan to indicate that, after se-
curing the Populist vote, he would
not consent to any ratio that would
save to his party its conservative
silver element. . .
There are still other matters of
difference. Populists regard the
land question as of very great im-
portance. I he people's homes are
slipping away from them. We are
fast becoming a nation of renters.
We have a million or more unem-
ployed men and women all the time,
some of whom, at least, could earn
a living on the public lands if they
could only get to them with means
to start. Populists think the nation-
al and state governments ought to
take hold of the labor problem and
At Our Store and Wiines. the Coo*ing on One of Our
? Steel and
J Mall, Iron
Our Purpose
JS to place a greater number of Majesties in the homes
of appreciative pejple in our territory, and secure
additional endorsements of users as to the Unequalled
Ranges Coolc,n8 Qualities of these wonderful
WITH THIS IN VIEW,
I he manufacturers have consented to send their own
salesman, who will remain with us a short time, during
which a cooking exhibition will be given at our store.
Come and be welcomed, eat a a jcstic IJiscuit
and have a cup of Majestic Coffee.
Hot Biscuits and Coffee every 4 Minutes,
JAN. 24-5-6-7 8 9.
Will, ill
rhey put this bond in Uncle get the people to work a^in LikVs
.11 p f v 11 r*c i ^ i r o ■ 11 „ .1 „
Sam's safety deposit vault and go
away with 25 per cent more in inter-
est bearing gold than they deposit
and iockouts and consequent dis-
turbances in trade can be prevented
by keeping people employed at fair
. "j ™v^r' f> \>
m non interest bearntr naner ami m,
c, , . , g ^aJ)eran(1| remuneration. There is nothing in
*>i ver. Shanes of the Forty 1 hievps «i i\ . .
, , , , y meves> j the Democratic platform or in that
nrnferf anH no I «u:. ^ I
States treasury and the people. - ■
They are not content with their im- capital, "ley sha" be permitted to
mense gains. They seek absolute
issue bank notes in addition t0 the
gama. mcy seen ausmure
control of the nation. They desire 5° per Cent thus Prov|ded, to the ex-
to tie the oeonle hanH mH (nnt 'en' 25 Per cent of such deposit,
to tie the people hand and foot and
to render future legislation imposs-
ible. They began before the Re- . .
publican convention. They forced but ,ssue(l against the assets of
th# hank
which said 25 per cent may be unse
cured by any direct pledge of secur-
the bank.
5- Extend the guaranty of pay-
ment by the government to all cir-
culating notes of the hank, whether
issued against deposited security or
against assets.
6. lo secure the government
against loss, if any, attaching to its
the gold plank into the platform.
rhey bought the election. They
outlined their plans at Baltimore
and Indianapo'is. The ignorant but
amusing "boy financier," Eckels,
has been hard at work in maga-
zines and on the stump, creating
"public sentiment." It was common - ■ s >« 1
talk that the banks were planning a 8"ara"ty a tax of 2 per cent per an-
raid. In this emergency President num on unsecured circulation shall
McKinley appointed Lyman J. I)e levied to create a safety fund,
Gage, president of the First national which fund shall be invested by the
bank of Chicago, as secretary of the secretary of the treasury and the
treasury of the United States. It comptroller of the currency in gov
was the same as naming an active crnment bonds."
railroad president as chairman of Let me explain the scheme by an
the Interstate commerce commiss- example of what would happen un
ion. It was like making John D. der this plan: If yOI, could get
Rockefeller chairman of an anti , hold of >25,000 in greenbacks, treas
trust commission. ury notes or silver certificates
It might be imagined that Gage (which you could not—the banks
would rise to the dignity of his posi-, having a corner on them) you could
protect and defend us 1 This is not
dream. It is the plan proposed by
the honorable, the secretary of the
United States treasury.
Uncle Sam owns the safety depos-
it vault. He is not allowed to make
any use of these deposits. He hires
men to watch them and pays an ar-
my (,f clerks to keep track of ac-
counts. In the vaults are stowed
away hundreds of millions of secur-
ities Once a year Uncle Sam sends
the owners of these bonds 2 1-2 per
cent interest on them for the privi-
lege of taking care of them and of
showing how glad he is to be out of
the banking business. And then he
laxes these banks one third of 1 per
cent on their cirr illation. This leaves
him only 2 per cent loser, not count-
ing the running expenses of the
treasury department.
Hnw does Uncle Sam pay this in-
terest? By taxing the people.
W hat would you think of a man
who would borrow >200,000 at 2 1-2
per cent interest and lock the mon-
ey up in a vault, and spend all his
time and energies in trying to bor
row money enough to pay the annu-
al interest charges? That is what
Gage proposes to do. He goes fur-
ther than that. He proposes that
the government shall stand back of
this wildcat money.
This is the kind of government
paternalism Gage wants. That is
how he and the ignorant little Eck-
els propose
that the "government
tion and forget his vocation of mon- j organize a company for >50,000 and | sha" ut of the banking busi-
ey-lender long enough to consider i exchange your money for 2 1 2 per Even ,hose who w" 'd ben-
party's history which is in any way
responsive to these advances of
Populism. So, too, the Populists
believe that the present capitaliza-
tion of our great railway system is
a standing menace to the commer-
cial peace of the country, and that
final government ownership and
mznagement is the only safe and
certain cure for the accumulating
embarrassments attending present
methods of handling the business of
these powerful corporations. Party
Democracy is opposed to such a
policy. And if there is anything on
which the Populist heart is chiefly
set, it is the right of the people to
propose legislation and to pass on
important measures before they take
effect as laws. But this doctrine has
not found favor in any body of or-
thodox Democrats.
Finally, as to all matters which
Populists regard as fundamental
and of surpassing importance, the
two parties are not only not in mc-
cord, but are positively opposed to
each other. The Peoples party was
formed for present duties, while that
of the Democracy came from di-
visions among the founders of the
republic. The doctrines of this
young party, are, in brief, the equal
rights of men; its creed is the golden
rule; its idea of law is justice, and
its theory of government is the rule
of the people.
If the scheme to organize a new
body is untried, or, if tried, is found
to be impracticable, and the Peoples
prove under the present regime.
Times will get no better. Stringency
and panic will be on time again and
again as of old, for neither Repub-
licans nor Democrats offer a pre-
ventive. They do not seem to know
what ails the country anil the world.
High tariff is but heavy taxation and
free silver will not bring work to the
idle nor bread to the poor. The
case needs heroic treatment — just
as the Peoples party proposed.
Yes, the work will be delayed, but
it will be done. Justice will be re-
established in the land and the peo-
ple's rights will be restored to them.
' he law of progress will not be sus-
pended any more than the law of
gravitation. While the fjctors are
being arranged in equations of the
next century, and during the sift
ings and winnowings of time, these
devoted Populists will gravitate to
their proper places among the lead-
ers of thought and action in the
work of the trying days to come,
fo them, and to such as they, will
be given truths of the future to re-
veal to others as they can bear
them, and they shall have at least
the reward of the faithful.
CLUB RATES.
Scientific AtnerlcHii ,
Iin.l r Mi|)|«.s Voice ' i3
Tile Arena
un.I Ptioplt'N Voice ( a
The New Tune
unit IVople* Voice
r«. pie- Tally r .per (WiitHOM)
nn«i IVopieH Voice 1
The Aiuenoin (Wlini'lon Marker) / .
a ml People* Voice .. \ 1
! 1 mi
! 1 75
%
Cull lit Voice office, Norman.
• -4
Grand Valley .School.
Report of Grand Valley school for
six weeks ending I)ec.2.ld 1897. Num-
ber enrolled 26. Average attendance
22. Visitors II I'upils making a
grade of 95 or more: Vessie Vander-
ford, Grace Starbuck and Thos. Link-
enfelter Those making 90 or more:
('hester Reeds. Clarence Reeds, Ber-
tie Vmiderford, Myrtie and Goldie
Leigh, Hattie Blackburn, Bertha anil
Dollie Wilson, Earl West and Char-
lie Svatek. ...Those making 85 or
more were Vernie Blackburn, Ethel
and Manda Vanderford and Claude
Rt;eds. l. N. Wise, Teacher.
A L>OL,L,AK SAVED...
IS
:to
* ONE Cte MADE.
This can be best accomplished in Quality and Prices by buying
the interests or the country. But: cent government gold bonds. Your |
efit by the scheme and consequently
favor it cannot discuss the proposi-
i tion and keep a straight face. It is
| the most comical hold up ever at-
tempted. If congress dares pass
any such bill the government will
Gage is not that kind of a man. He j money would remain in the vaults at
is not there for that purpose. We j Washington. You would have the
must gave Gage credit for one fine bond and would be entitled to the
quality—frankness. He is not evas- j interest. You now exchange your
ive. He is not afraid to speak >2^,000 in bonds for >31,250 in bank ! f "i!
right out. He asked for it all. For ! notes. You are permitted to have -
years certain people have been pre- j an extra >6,250 or 25 per cent under j WHAT THE RECORD TELI S
dieting that some time the national 1 article 4.
banks would do certain dreadful
things. Gage openly proposes to do
all these things and includes others
more grotesque than the most wild-
1,HEY have the largest stock to select from,
and you will find their prices ROCK BOT-
party is finally separated into'two TOM They have received a large stock of
wings, the fusion!,.■ will have no ^ y°U Wilj fi?d
difficulty in finding a resting place THE FAMOUS just the plac i to buy your fruits
for which the party candies, nuts and Xmas presents.
(See Gage's plan.) Why
eyed prophet ever dreamed of.
In the first place he proposes to
turn the greenbacks into interest-
bearing bonds. He advances no
ml? 1 . Ki-senator 1-cfTer In Nonh American Keview.
not No particular reason. It is a j . . If it be inquired why they
part of the steal At present the (the Populists) are opposed to De-
banks are allowed to issue banks to mocracy, let the record answer
the amount of 90 per cent of their They believe the people ot the Unit-
bonds on deposit. Gage thinks anted States to constitute a nation'
increase of 3S per cent is about .they believe the government is an
the banks share of the prevailing1 agency created by the people for
prosperity. t|iejr use benefi(j anJ j,ence ,hat
but the work
was born, and which it bravely com-
menced, will be left to their old asso-
ciates and new co-workers who shall
be found in other bodies—men and
women who believe good govern-
ment can be maintained only through ;
social order and just laws, citizens
who believe in doing good because
they love their fellow men, reform-
ers whose face has always been to
the front, veterans who draw the en-
emy's fire and who fight better in
the field than in the camp.
1 here will be plenty of work for
them to do. Conditions will notim-
ELLEDGE BROS., Proprietors.
fill ill, Iff
t
STA/J/vZ3.
;inest Rigs. Reasonable Charges.
Horses Bought and Sold.
BUDR-TOISr. Norman, O. T.
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Allan, John S. The Peoples Voice (Norman, Okla.), Vol. 6, No. 26, Ed. 1 Friday, January 21, 1898, newspaper, January 21, 1898; Norman, Oklahoma Territory. (https://gateway.okhistory.org/ark:/67531/metadc115806/m1/1/: accessed April 23, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.