years, openly or covertly, but without intermission, has war been going on between despotism and freedom, with varied success, but on the whole with a steady gain for freedom; and now here, on the same field where it originated, is the long strife to be finally settled.  On these same fields the same freedom is to culminate in unquenchable splendor, or to set forever, leaving mankind to grope in darkness and ignorance under the misrule of despotic tyranny.  We are in arms not only to suppress an odious uprising of despotism against freedom within our own borders, but to show by our example, to all the nations of the earth, what freedom is and what freedom means.

In seeking aid of the money power, we go beyond the line where patriotism gives us all we need, promptly and liberally, into the cold region of selfishness, whose people are too much absorbed in adding to and counting up their gains to be able to spare much time or thought on country or freedom.  No voluntary sacrifices to be expected here.  What we want we must buy, and pay for; it is only to see that we do not pay too much for it.  Selfish, timid, grasping, these people are a skittish set to deal with.  Nobody understands better the game of ’the spider and the fly,’ and they are as ready to play it with the state as with smaller opponents, if the state will but let them.  From his first visit to this region, to the present time, our able Secretary of the Treasury was, and continues to be, ‘master of the position.’

When the Secretary held his first sociable with the representatives of the money power, neither he nor they had a very keen perception of what they wanted of each other; the rebellion was not then developed in the gigantic proportions it has since assumed; and it was hoped and expected, with some show of reason, that two or three hundred millions would be enough to put it down.  This amount the power could and would willingly furnish for a ‘consideration,’ the half presently, on condition that it should be allowed the refusal of the other half when it should be wanted; and so a bargain was quickly struck, to the mutual content of both parties.  But, as the thunder grew louder and the storm fiercer, it became evident that our wants would soon be doubled, at least.  The money power hung back; the 7-3/10 remained in the banks.  The representatives said they were only agents, the agents stopped payment, and the whole circulation of gold fell to the ground at once, not only putting a sudden check upon all business operations, but leaving the Treasury without any sort of currency to pay out:  a sad state of things enough.  The money power drew in its head, pretending not to see anything, waiting for propositions, expecting to reap a rich harvest out of the state’s necessities, by making its own terms.  How could it be otherwise? must not the state have several hundred millions? must not the astute Secretary sell the state’s promises to pay, secured by a first mortgage on all Uncle Sam’s vast possessions, on their own terms?