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in the purpose to divide the money among those heroes of the Lost Cause who are still left to us. They won’t be here long. Let us make their remaining days as free from want and as full of comfort as possible. Let us try to remember that the unveiling of monu ments—while a glorious thing—is not quite the best thing for the old soldier who may be in need of the necessaries of life. Honor the dead; nothing too good can be said of them; but remember that these old veterans who bend as they walk along your streets and high ways deserve exactly the same thing at your hands as the glorious dead whose devotion to duty you commemorate with a marble mon ument. MM* The Panic: T)r. Jar nagin 's Letter, Elsewhere the Jeffersonian presents to its readers a brief letter from Dr. J. C. Jarnagin, of Warrenton, Ga. The Doctor is one of those men who have no axe to grind, no office to , seek, and who, therefore, brings to the subject mentioned in his letter the unbiased judgment of an intelli gent citizen. The Jeffersonian unreservedly endorses Dr. Jamagin’s suggestion to the President. If this Government should now resort to the method of supplying the demand for sound money which has been pronounced legal by the highest court in the land, the panic would disappear, like a casual cloud. The Govern ment has full authority to issue its Treasury notes. Back of these notes would be the pow er of the Government and the wealth of the nation. A few years ago, we witnessed the shame ful spectacle of a Democratic President mort gaging the future of his country by the issue of $262,000,000 of bonds, in a time of profound peace. These same Wall street gamblers, spec ulators, watered stock manipulators—created a situation which seemed to Mr. Cleveland to make it necessary for him to give to J. P. Morgan, August Belmont and a few others, United States gold bonds at a lower rate than that at which the gold bonds of certain New England railroads were quoted. The gold bonds of the little negro government of Jamaica were actually quoted in the open market at a higher figure than Mr. Cleveland exacted from Mor gan and Belmont in that famous midnight deal of his. Now, it must occur to everybody that if a president has the right, of his own motion, to issue interest-bearing bonds which bind the Republic, he has precisely the same right to issue interest-bearing notes, or Greenbacks, simply. If it was legal for Grover Cleveland to give the Wall street bankers $262,000,000 in bonds, it is just as legal for Theodore Roose velt to give to the suffering millions of peo ple an equal amount of Treasury notes. If he would do this, the difficulty would be met immediately. If he even declared his purpose to do it, the panic would instantly be checked. What the country needs is a greater amount of actual money. What the Jeffersonian means by “money,” is something which the Govern ment declares shall be legal tender in payment of all debts, public and private, large and small. Nobody cares a snap of the finger for gold or silver in its commodity shape, at this time; what the country needs is money— something which will be a legal satisfaction for debts and dues and contracts of all de scriptions. We do not care whether it is gold, or silver, or copper, or brass, or zinc, or linen, or leather, or paper. What we want is money, and nothing is money until the Government puts back of it the law of legal tender. The vast flotations of watered stock which have been issued by high-finance criminals like E. H. Harriman, August Belmont and Thomas F. Ryan, have acted as huge sponges, to suck up available cash. The securities of one railroad have been increased tenfold, and I Uten iWw Wave Wen pWdgpd with WATSON’S WEEKLY JEFFERSONIAN. insurance companies, trust companies, and banks, to obtain the funds with which another railroad is bought. With the securities of that railroad, the same juggle is made, and the con sequence has been that all the loanable funds have been poured into these ratholes. One instance of the fearful recklessness with which these corporations have been managed was that of Mr. Peabody,* President of the New York Mutual Life Insurance Company. This astute trustee of money belonging to the widow and the orphan actually loaned out $1,600,000 of the trust funds to one little corporation which was capitalized at SIO,OOO. Such a thing makes a sober man wonder whether he is awake or dreaming. Such finan cial methods were never known before in the history of the world. The high-finance speculators are now clam oring for more credit money. They demand that the Government shall allow them to flood the country with additional torrents of pa per. The Associated National Bankers are so certain of their mastership of the Government that they have had the amazing audacity to propose a new plan, which will deluge the business world with a tidal wave of paper, paper, PAPER, on which the pet banks will reap the harvest of compound interest. These modest gentlemen actually propose that when they do not redeem their own paper, the Gov ernment shall do it. In other words, they will exploit the country by making the business world pay compound interest for the use of the bankers’ evidence of indebtedness, and if the after all, should not honor his own note, the taxpayers of the country shall do it. Is there to be no end to this lunacy? Are we to quench the thirst of the storm-tossed mariner by drenching him with salt sea-water? Let Mr. Roosevelt double the amount of the Greenbacks and thus save a tottering sky scraper of credit paper. Instead of $346,000,000 of Treasury Notes, give us $800,000,000. Then we won’t need any prop-work doings of Morgan and Rockefeller. PREMIUMS To get (1) Self-filling Fountain Pen which retails at .$2.50, send 3 full paid new subs to Jeffersonian Magazine, or, 4 full paid new subs, to Jeffersonian Weekly. (2) The Union Library Association Fountain Pen, send 3 new subs, to the Magazine; or 4 new subs, to the Weekly. (3) The Bound Vol. of the first six numbers of the Magazine, send 5 new subs, to either Jeffersoaian. (4) The Bound Vol. of first three numbers of Mag azine, send 3 new subs, to either Jeffersonian. (5) Watson’s Bethany, send 3 new so.bs. to either Jeffersonian. (6) Watson’s Life of Jefferson, send 4 new subs, to either Jeffersonian. (7) Watson’s Napoleon, send 4 new subs, to either Jeffersonian. (8) Watson’s Story of France, 2 large volumes, send 8 new subs, to either Jeffersonian. IF YOU ARE A SUBSCRIBER, WE WILL AGREE TO COUNT YOU IN ANY OF THE ABOVE OFFERS, PROVIDED EVERY OTHER NAME YOU SEND IS THAT OF A NEW SUBSCRIBER. Honor Poll. Here are a few of the loyal and active sup porters of the two Jeffersonians: A. Benoit, Shreveport, La. Hon. Frank Burkett, Okolona, Miss. J. M. Braselton, Plainview, Tex. , G. H. Kenyon, Parrott, Ga. P. G. Bloodworth, Perry, Fla. W. J. Marsh, Idabel, I. T. Hen. Wm. Walden, Spread, Ga. (Tte be Contitrwedw) Editorial Notes. By J. D. Watson. Following the conference with Governors Smith and Comer, Governor Glenn has made an appeal to the railroads to obey the laws of North Carolina. “If after a fair trial the rates are found too low,” said Governor Glenn, “though in my judgment it will be found they will increase receipts, then the railroads may rest assured that the State will do what is right. I appeal to the railroads to stop their litigation, which will result in no good to them or the people, and let us all await results until the next meet ing of the general assembly. “If some of our business men would stop trying to persuade me to violate the law passed by the legislature,” said the governor, “which under my oath, it is my duty to maintain, and which I have no right to alter or repeal, and will turn their persuasive powers and influence toward inducing the raillroads to obey the law as passed until it has had a fair trial, they would be doing a much greater service to their State.” This statement is the plain truth, and the railroad officials know it, but they have been controlling governments, both state and na tional, for so long, and have practically made the courts decide cases as they wanted them decided that they seem unable to stand the change from controlling to being controlled. The time when any railroad measure can be lobbied through almost any State legislature has passed. The time when they could openly violate laws and go unpunished has also passed. The public-be-damned policy will not work any longer, and the railroads had better realize it. The more they try to set aside just laws and disregard the rights of the different states, the more they arouse the people, and the more they arouse the people the worse it will be for the railroads. w The State Railroad Commission of Georgia seems to look upon the reported sale of the Central of Georgia Railroad to E. H. Harri man with some suspicion. An order calling upon the Central and South ern Railroads for “full disclosures touching the sale of the stock of the Central, so far as the facts may be known to them or their compa nies, or appearing in the books or documents in their possession.” The Commission asks for a complete list of stockholders at the present time, and at all times since October 1, 1895. As this information must be furnished on or before November 15, we may look for some surprising disclosures within a day or two.' Since winning the city and county election in New York, Charles F. Murphy and other Tammany bosses, seem to be working to bring out a candidate who can defeat Mr. Bryan for the Democratic nomination next year. If Mr. Bryan does secure the Democratic nomination next year he will stand a much bet ter chance of being elected if he defies Tam many, Murphy & Co., than he will with their support. The association of any nominee with Mur phy and his kind will drive away thousands of honest voters who would otherwise give the same candidate their support. If Mr. Roosevelt is the Republican nominee for President in 1908, which is not at all unlike ly, the Democrats will need a strong, clean man, and free from the political contamina tion of Tammany and Murphy. n The President promises to get after the Paper Trust next, and, if sufficient evidence is found to warrant criminal proceedings, crim inal proceedings will be instituted. The president promises to go further and urge upon Congress the necessity of abolish fCeitinued en Page Twelve.) PAGE NINE