of business transacted in this country is eight times as great as the amount of money in circulation. In case of panic, each dollar is wanted eight times over and wanted badly. The money lenders deceive the public in every way. They say money is sensitive; capital is timid. They say anything but that money is scarce.

The fall of 1902 saw the country almost thrown into a panic. Large crops had to be moved, and the cry was raised, "there is not enough money." For a few days. things looked serious on Wall Street. Toward it all eyes were turned. Had Wall Street succumbed it would have been felt all over the country.

Trouble was averted by Rockefeller and Morgan coming to the rescue. They bought heavily, kept up prices and showed by their ability to prevent a panic that they also have power to cause one if they so choose.

Mr. Shaw, the Secretary of the Treasury, also came to the rescue. To the average citizen it seems strange that the government would let the banks have large sums of money without interest, but when the citizen comes to the bank he must pay interest for all money he borrows. This is the way the money power takes care of itself.

At nearly all times in the history of the world there has been a money power. Reformation has taken place in everything else but this. Many political and social wrongs have been righted; slavery and much oppression abolished, but the money power, unmolested, is as strong to-day as ever. It sits enthroned in the high places. At its dicta

tion rulers bend. Its mandates, the legislatures, the judiciary and executive authorities of the government obcy. Its power is enormous. It controls the numerous class that are borrowers at its counters. It controls and muzzles the press. It controls a large and influential class of salaried officials, clerks, etc., all of whom find it to their interest to sanction its policy or remain discreetly silent. It stops at nothing to attain its end. When better means fail, fraud is resorted to in any way, shape or form. Sometimes it is perpetrated on a gigantic scale. The first, and one of the greatest frauds ever consumated was the demonetization of silver in 1873, when less than half a dozen Senators and Congressmen were aware of what was taking place.

Though the remonetization of silver at present might result in upsetting things and producing a series of evil results, the fact remains that a most heinous crime was perpetrated against the people when it was demonetized, without their permission, and without their knowledge. We give the opinion of different Senators and Congress

men.

Senator Thurman said:

"When the bill was pending in the Senate we thought it was simply a bill to reform the mint, regulate coinage and fix up one thing and another, and there is not a single man in the Senate, I think, unless a member of the committee from which the bill came, who had the slightest

idea that it was even a squint toward demonetization."Congressional Record, volume 7, part 2, Forty-fifth Congress, second session, page 1,064.

Senator Conkling in the Senaté, on March 30, 1876, during the remarks of Senator Bogy on the bill (S. 263) To Amend the Laws Relating to Legal Tender of Silver Coin, in surprise inquired:

"Will the Senator allow me to ask him or some other Senator a question? Is it true that there is now by law no American dollar? And, if so, is it true that the effect of this bill is to make half-dollars and quarter-dollars the only silver coin which can be used as a legal tender?"

Senator Allison, on February 15, 1878, said:

"But when the secret history of this bill of 1873 comes to be told, it will disclose the fact that the House of Representatives intended to coin both gold and silver, and intended to place both metals upon the French relation, instead of on our own, which was the true scientific position with reference to this subject in 1873, but that the bill afterward was doctored."

Hon. William D. Kelley, who had charge of the bill, in a speech made in the House of Representatives, March 9, 1878, said:

"In connection with the charge that I advocated the bill which demonetized the standard silver dollar I say that, though the chairman of the committee on coinage, I was ignorant of the fact that it would demonetize the silver dollar from our system of coins, as were those dis

tirguished Senators, Messrs. Blaine and Voorhees, who were then members of the House, and each of whom a few days since interrogated the other: 'Did you know it was dropped when the bill passed?' 'No,' said Mr. Blaine, 'did you?' 'No,' said Mr. Voorhees. I do not think that there were three members in the House that knew it.""

Again, on May 10, 1879, Mr. Kelley said:

"All I can say is that the committee on coinage, weights and measures, who reported the original bill, were faithful and able, and scanned the provisions closely; that as their organ I reported it; that it contained provision for both the standard silver dollar and the trade dollar. Never having heard until a long time after its enactment into law of the substitution in the Senate of the section which dropped the standard dollar, I profess to know nothing of its history; but I am prepared to say that in all the legislation of this country there is no mystery equal to the demonetization of the standard silver dollar of the United States. I have never found a man who could tell just how it came about or why."

Senator Beck, in a speech before the Senate, January 10, 1878, said:

"It (the bill demonetizing silver) never was understood by either House of Congress. I say that with full knowledge of facts. No newspaper reporter-and they are the most vigilant men I ever saw in obtaining informationdiscovered that it had been done."

Mr. Murat Halstead, editor of the Cincinnati Com