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Contents in Full
List of Case Studies xiii
About the Book xvi
How to Use This Book xviii
How to Use the Online Resources xx
Acknowledgements xxi

Part 1 Foundations of HRM 1

Chapter 1 Managing People at Work: Challenges and Opportunities 3
Introduction 4
Making a Difference 9
Developing a Systems and Holistic Perspective 17
Evidence-Based Management 22
Summary 32
Review Questions 33
Case Study 33
Further Reading 35
References 36

Chapter 2  The Evolution of the HR Function: A Critical Perspective 38

Introduction 39
The Emergence of Personnel Management 42
The Rise of HRM 47
Strategic Human Resource Management (SHRM) 51
The Link between SHRM and Performance 53
The Future of HR 58
Summary 64
Review Questions 65
Case Study 66
Further Reading 67
References 67

Chapter 3  A Strategic Perspective on HRM 69

Introduction 70
What Does Strategic Mean for HR? 74
What Can HR Learn from the Strategy Gurus? 82
Are HR Strategies Uniquely Different? 88
The Concept of Fit and Integration 90
The Resource-Based View of the Firm 93
Summary 96
Review Questions 97
Case Study 97
Further Reading 101
References 101
CONTENTS IN FULL
Part 2 Operational Challenges 105
Chapter 4  Talent Management: Strategies and Models 107
Introduction 108
TM: Conflicting Scenarios 109
TM: Definitions and Approaches 113
Talent as Human Capital 118
Talent as Hidden Potential 122
TM from an Applied Perspective 126
Summary 133
Review Questions 134
Case Study 134
Further Reading 135
References 135

Chapter 5  Ethics and Leadership in HRM 137

Introduction 138
Perspectives on Workplace Ethical Dilemmas 141
Fairness at Work 147
HR and Ethics 154
The Leadership Illusion 158
Summary 162
Review Questions 163
Case Study 163
viii
Further Reading 164
References 165

Chapter 6  International HRM 167

Introduction 168
Globalization 169
International HRM 173
The International HR Manager and Culture 178
Alternative International HR Models and Practices 184
International Management Competences 188
Summary 190
Review Questions 190
Case Study 191
Further Reading 192
References 193

Chapter 7  Recruitment and Selection 195

Introduction 196
Why Is It Important to Make the Right Recruitment and
Selection Decisions? 197
Different Perspectives, Different Challenges 200
Different Recruitment Situations 203
An Economic and Financial Perspective on Recruitment
and Selection 204
Calculating Recruitment Costs 206
Labour Markets 207
The Role of Fairness in Recruitment 209
 Identifying Recruitment Requirements 210

CONTENTS IN FULL
The Person–Job Fit 211
Attracting the Right Applicants 213
Recruitment Advertising 213
The Role of Social Media and Social Networking Sites 214
Employer Branding 218
Assessing and Selecting 219
The Importance of Predictive Validity 220
An Applicant Perspective 222
Summary 223
Review Questions 223
Case Study 224
Further Reading 225
References 225

Chapter 8  Managing Employee Relations 227

Introduction 228
The Origins and Scope of Industrial (or Employment) Relations 228
What Is a Trade Union? 240
Strategies for Improving Poor Industrial Relations 249
Summary 254
Review Questions 255
Case Study 255
Further Reading 256
ix
References 257

Chapter 9  Managing Misconduct 259

Introduction 260
Choices in the Handling of Discipline 262
Alternatives to Disciplining People 265
Consequences of Poor Decisions in Handling Disciplinary Matters 267
Unconventional Approaches to Discipline at Work 268
A More Conventional Approach to Misconduct 271
The Relationship between Minor and Major Breaches
in Standards 273
Disciplinary Procedures and the Role of the Law 275
Managing Specific Types of Behaviour 279
Absence Management 280
Grievance Procedures 281
Summary 284
Review Questions 285
Case Study 285
Further Reading 286
References 286

Part 3 HRM Processes 289

Chapter 10  Workforce Planning and Measurement 291
Introduction 292
An Economic Perspective on WP 294
The Planning Process 299
 Measurement and Metrics 305
CONTENTS IN FULL

Measurement in HR—the Wider Debate 315

Measurement in HR—Some Important Reservations 319
Summary 321
Review Questions 322
Case Study 322
Further Reading 323
References 323

Chapter 11  Learning, Training, and Development 325

Introduction 326
‘Learning’ was ‘Training’ 328
Different Perceptions of Training 338
Calculating Costs 338
The Measurement and Evaluation of Training 342
Developments in Workplace Learning 344
Coaching 345
Mentoring 346
The Growth of e-Learning 347
Understanding and Managing the Learning Process 348
Andragogy 353
Summary 355
Review Questions 356
Case Study 356
x
Further Reading 357
References 358

Chapter 12  Managing Performance 360

Introduction 361
The PM Cycle—Key Activities 363
Making Sense of Performance 366
Low Performance: Understanding the Problem 371
Motivation and Performance 375
Setting Objectives 385
Giving Effective Feedback 386
Development Plans 387
Managing Problem Performance 387
Summary 388
Review Questions 389
Case Study 390
Further Reading 391
References 392

Chapter 13  Managing Rewards 394

Introduction 395
Different Reward Perspectives 399
Rewards Express Organizational Values 401
Rewards Represent a Strategic Resource 401
The Status of Rewards 404
Reward Strategy 407
 Money and Its Use as an Incentive: An Evidence-Based Approach 413

CONTENTS IN FULL
Payment Systems 419
Benefits 420
Summary 422
Review Questions 422
Case Study 423
Further Reading 425
References 425

Glossary 427
Index 433

xi
List of Case Studies
Part 1 Foundations of HRM 1
Chapter 1 Managing People at Work: Challenges and Opportunities
HRM Insight 1.1 The marriage invitation 10
HRM Insight 1.2 Murray’s story 28
Practitioner Insight William Beckett CEO of Beckett’s Plastics 18
Case Study ABB 33

Chapter 2 The Evolution of the HR Function: A Critical Perspective

HRM Insight 2.1 The story of Sue Ridgebridge 48
Practitioner Insight Roger Collins, director of HR & OD in an
NHS trust hospital—HR in the NHS: leading on the pay bill challenge 63
Case Study Reforming the HR function at the Royal Mail 66

Chapter 3 A Strategic Perspective on HRM

HRM Insight 3.1 Introducing a leadership training programme
at Midshire University 92
Practitioner Insight Trevor Lincoln, former people director at Eaga 81
Case Study The role of HR in strategic change 97

Part 2 Operational Challenges 105

Chapter 4 Talent Management: Strategies and Models
HRM Insight 4.1 Sourcing talented staff 113
HRM Insight 4.2 The John Carney story 125
HRM Insight 4.3 Changing reward practices with UK teaching 128
Practitioner Insight Jean Goodwin, HR adviser 115
Case Study TM in Continental Travel 134

Chapter 5 Ethics and Leadership in HRM

HRM Insight 5.1 Patagonia 144
Practitioner Insight Dean Royles HR director: ethics and
management in the NHS 142
Case Study The bullying head of department 163

Chapter 6 International HRM

HRM Insight 6.1 TNN International 176
HRM Insight 6.2 Developing the HR function in an
international company 177
HRM Insight 6.3 A different approach to selection 180
HRM Insight 6.4 Virginia Power Tools 184
Practitioner Insight Edin Veljovic, HR consultant, Serbia 175
Case Study Chris Atkin’s story 191
 Chapter 7 Recruitment and Selection
LIST OF CASE STUDIES

HRM Insight 7.1 The legal practice that nearly got it wrong 199
HRM Insight 7.2 Recruitment practices at Thompson 217
HRM Insight 7.3 The case of LLT Solutions 217
Practitioner Insight Francesca Fowler, former HR director at
Nottingham Trent University and currently HR director at the
University of Leeds. For this insight, Francesca drew upon her
experiences at Nottingham 216
Case Study Midshire NHS Hospitals Trust 224

Chapter 8 Managing Employee Relations

HRM Insight 8.1 The rail disputes (2016–17) 233
HRM Insight 8.2 The junior doctors’ dispute (2015–16) 238
HRM Insight 8.3 ABC Pharmaceuticals 242
HRM Insight 8.4 Goldsmith’s Pies 246
HRM Insight 8.5 Resolving conflict at work 250
Practitioner Insight Dan Goulding, former employee of an
international motor manufacturer in the UK; currently occupies a
senior HR role in the hospitality and leisure sector 249
Case Study The claim for union representation 255

Chapter 9 Managing Misconduct

HRM Insight 9.1 The case of the Queen’s Medical Centre 266
xiv HRM Insight 9.2 The Belgian Chocolate Company 274
Practitioner Insight Katy Edmonds, HR Manager, IFA Ltd,
founded in 2001 278
Case Study Unauthorized breaks at Brown Packaging 285

Part 3 HRM Processes 289

Chapter 10 Workforce Planning and Measurement
HRM Insight 10.1 Reducing employment costs 295
HRM Insight 10.2 The case of Sunside Leisure 307
HRM Insight 10.3 The case of Lincester Passenger Transport Executive 314
Practitioner Insight Steven Ned, director of HR and
organizational development and deputy chief executive,
Sheffield Children’s Hospital, NHS Trust 298
Case Study Absence management—the case of Mid-shire Council 322

Chapter 11 Learning, Training, and Development

HRM Insight 11.1 Team briefing training at Delta Ltd 328
HRM Insight 11.2 Taylor’s Laundry Services 333
HRM Insight 11.3 Paul Kearns’s story of an unhelpful director 335
HRM Insight 11.4 The German engineering company 341
HRM Insight 11.5 Mountainside Training Centre 352
Practitioner Insight Beverly Hodson, former group learning and
development manager, Northern Foods plc 343
Case Study A strategic perspective on development 356
 Chapter 12 Managing Performance

LIST OF CASE STUDIES

HRM Insight 12.1 The story of Kidane Cousland 370
HRM Insight 12.2 Managing the performance of managers at GE 375
Practitioner Insight David Lloyd, PM consultant: an HR consultant’s
view of PM in practice 366
Case Study The case of the light machine shop 390

Chapter 13 Managing Rewards

HRM Insight 13.1 The American Shoe Corporation 407
Practitioner Insight Judy Crook, HR consultant 418
Case Study The Star Hotel 423

xv
About the Book
Most authors claim that their book is different, and by implication, better than many others currently in use.
Often, however, the differences, where they exist, are more superficial than substantial and tend to relate to
the choice and range of HRM subject areas rather than the way these areas are treated. We feel that many
contemporary introductory HRM books are very similar in terms of style, approach, and coverage and that
they tend to be written by academics in a style that fails to reflect the realities, uncertainties of organizational
life, and the nature of the challenges facing those with responsibilities for HRM. This led us to believe that
there was a need for a book on HRM that approached the subject in significantly different ways.
What seemed to us to be missing from much of the literature available to tutors and students was a
perspective on HRM that combined a strong academic underpinning with a realistic and informed under-
standing of how the HR function has evolved within organizations, as it seeks to contribute in the most
appropriate way to how organizations function. In this third edition, more than in the previous two, we
have tried to locate and make sense of the HR function within complex and dynamic organizational envir­
onments, as part of the wider management function and as a specialist department tasked with specific
responsibilities and contributions. In other words, we have tried to represent HR ‘as it is’ and how it is
perceived as well as how it is meant to be, an approach that combines criticality with change and oppor-
tunities for improvement in the way the HR function is managed. This approach involves being more open
and honest about the relationship between HR activities and their associated outcomes (often taken for
granted). In doing so, we question the unproblematic way in which HR is often presented, for example, in
relation to its contributions to employee behaviour and business performance.
It is one thing to have a concept of a book that you would like to write—one that aspires to overcome
the gap between ‘theory’ and ‘practice’—but quite another to produce one that actually achieves this and
provides students with a set of analytical tools and frameworks that are academically rigorous, while offering
important insights into the realities, uncertainties, and compromises that HR practitioners and line manag-
ers constantly face. Only our readers will be able to say whether we have achieved our objective, but we
believe that we have made significant progress in that direction, for the following reasons:

1. The book is informed by contributions from two senior HR practitioners, although Rebecca Kay has
now moved on to a new career in education, and an experienced academic and consultant. Dean
Royles, the new member of the writing team, brings an even greater range of experience and insight
into HR and senior management as a result of his career in the NHS, with Paul Banfield providing the
academic content and analytical and conceptual frameworks. Our intention has always been to draw
upon contributions to the understanding of HR from the most influential writers on the subject from
the UK, Europe, and the USA and interpret these through our experience. The result is a fusion of both
academic and professional insights which explore how HR as an academic subject is represented and
how it is practised and experienced in the workplace.
2. We take a holistic and integrated approach to HRM which avoids presenting it as a series of separate
activities and as an isolated management function detached from wider organizational and business
interests and priorities. The emphasis in Chapter 1 on the importance of adopting a systems perspec-
tive on organizations and the HR function means that both are represented as dynamic concepts and
as representing complex and multifaceted phenomena.
3. The text offers an abundance of real-life examples of organizations, situations, and HR departments
that illustrate the diversity of thought and practice. All chapters offer a range of challenging student
activities, mini-cases (insights), and end-of-chapter case studies which cover a range of organizational
 and business contexts, both in the UK and overseas, many provided or informed by practising man­

ABOUT THE BOOK

agers and HR professionals.
4. The text actively encourages students to shape and extend their own learning and understanding of
HRM by presenting them with real-life situations that can be discussed either in a seminar/group con-
text or on a private study basis. Moreover, the book is written in a style that seeks to engage with the
student through the way the text constantly raises questions, providing critical comment, and opening
new lines of enquiry/thought.
5. The extensive online resources provide all the teaching and learning materials needed to support
each chapter, removing the need for lecturers to look for additional class and test materials, and giving
students the resources they need to build their understanding and to check what actually happened
in many of the real-life case studies.

xvii
How to Use This Book

KEY TERMS
Key Terms
Each chapter opens by defining the key terms which are to
Evidence-based management (EBM) This relates
to translating principles based on best evidence into
be explored within that chapter. Read through these before
organizational practices. By focusing on issues about you begin the chapter to make the ideas and arguments that
which there is a clear evidential base the assumption is
that the practice of managing will improve and lead to follow easier to understand.
better outcomes.
Dialectic The tension that arises as a result of
conflicting ideas, interacting forces, or competing

LEARNING OBJECTIVES
Learning Objectives
Clear, concise learning objectives outline the main concepts
As a result of reading this chapter and using the online re and themes to be covered within the chapter. These lists will
● appreciate the case for evidence-based help you review your learning and effectively plan revision,
management;
ensuring you have covered all key areas.
● understand the challenges faced by management in
using people as economic resources;

● understand the way organizations as complex and

STUDENT ACTIVITIES
STUDENT ACTIVITY 1.1 Put your knowledge to the test by completing the student
Read the article by Pfeffer (2005), ‘Changing menta
Human Resource Management, 44(2), 123–8. Summ
activities found in every chapter. Often research-based or
your own ways of ‘seeing’ HR and the mental models used in yo involving problem solving, these activities are designed to
help you engage with the subject and encourage you to learn
through practice. They will support you in developing trans-
So, with the NHS example in mind, what can we say about
lem may not only be about the number of doctors who are ferable skills such as group work and giving presentations.
I h i i i l l b l k f di h i

HRM INSIGHTS
HRM INSIGHT 1.1 The marriage invitation
These mini case studies present the kinds of scenarios and
As with all the stories in this book, this is essen
although names have been changed to preserve challenges experienced in the real world of business, such as
Martin Wilson was a qualified accountant with conside
accounting in industry. He built a reputation for honesty and
sourcing talented staff and managing strikes in essential ser-
could find out what the problems of a business were and had vices. Accompanied by questions, they prompt you to con-
Not long after he retired from his job as finance director of
Yorkshire, he received a call from a friend who owned the s sider how the theories and models apply in practice.
friend outlined a series of production and financial problem
Martin if he would consider running the company as its CEO

PRACTITIONER INSIGHTS
PRACTITIONER INSIGHT Roger Collins, di
HR in the NHS: leading on the pay bill challe Learn from the real-life experiences of HRM professionals in
From 2000 to 2008, the role of the HR practit worldwide businesses and public services through the prac-
workforce; the NHS planning framework during that period
numbers, but now we face a very different situation. Pay ma
titioner insights in each chapter. Practitioners from a range of
the NHS and now the focus is very much on pay bill reduct organizations reflect on a challenge they have faced to help
provement programmes, ensuring that where potential pay b
of clinical care provided for our patients is not diminished. you see how such issues are overcome.
firmly established as a key member of the board team, althou
However, the workforce agenda is common to all trusts and o
 HOW TO USE THIS BOOK
RESEARCH INSIGHTS
RESEARCH INSIGHT 1.1 Broaden your understanding by reading the summaries of key
Gouldner, A. W. (1954), The Wildcat Strike publications outlined in the research insights. These will help
(Antioch Press).
Although Gouldner’s (1954) classic account of a labour rela
you direct your learning of the topics covered in each chapter
contains many references to organizational features and be and encourage you to delve deeper.
introductory chapter, focusing particularly on what he calls
within and between the two organizational domains.

p
KEY CONCEPTS
Strengthen your theoretical and analytical grounding by con-
KEY CONCEPT Unintended consequence
Unintended consequences, sometimes called
sulting the key concept boxes, which outline new terms that
quences, are outcomes that are not the ones f have a specific meaning and are part of the language of HRM.
can be positive but when the term ‘unintended consequenc
describes something that is negative.

I will venture the prediction that we will succeed in inc SIGNPOSTS

organizational settings only as we succeed in creating c
(Heil et al., 2000) Look out for signposts which point to related coverage in
another chapter or to where relevant extension material can
For an example of one company’s attempt to b
be found in the online resources to take your learning further.
the Online Resources Extension Material 1.1.

McGregor’s emphasis on the importance of understandi

izational success is the theme of more recent contributio xix
beings (Amabile and Kramer, 2007, 2011; Lewis, 2011). I

CASE STUDIES
CASE STUDY ABB End-of-chapter case studies and accompanying questions
integrate many of the key issues and activities covered in the
This case study provides interesting insights into chapter to demonstrate the challenges faced in HRM and to
most successful executives, and demonstrates th
people within the wider context of managing th present an illustration of the theory in practice. They will en-
This is a story about the merger, in 1987, of tw able you to contextualize the issues discussed in the chapter
and the Swedish firm ASEA—and the role of one
tives, Percy Barnevik. It is taken from the book and consider how HRM affects organizations as a whole.

REVIEW QUESTIONS
REVIEW QUESTIONS Reinforce your learning and aid your revision with end-of-
1. To what extent is organizational success a function o
chapter review questions covering the main themes and
support your conclusion? issues raised in the chapter.
2. What are the current and future challenges that orga
manage people?

3. What might happen that will increase the level of co

increase, is this likely to be because of what employe

FURTHER READING
FURTHER READING
Want to know more? Gain a deeper subject understanding,
Effron, M. et al. (2003) Human Resources in the 21st Cen and explore alternative ideas and contributions to the main-
Osterhaus, E. (2013) ‘The HR department of 2020: 6 bo stream treatment of HRM with these selected further reading
softwareadvice.com/the-hr-department-of-2020-4
Roehling, M. V. (2005) ‘The future of HR management:
suggestions.
Management, 44(2).
Sage-Gavin, E. and Foster-Cheek, K. (2015) ‘The transfo
Strategy, 38(3), 8–10.
How to Use the Online
Resources
This book is accompanied by a package of online resources that are carefully integrated with the text to
assist the learning and teaching of the subject. Students can benefit from extension material, multiple-
choice questions, web links, and an interactive glossary; whereas lecturers can make use of a question
test bank, suggested answers to questions in the book, seminar activities, and PowerPoint slides.

Go to www.oup.com/uk/banfield3e/ to find out more.

Exploring the Variety of Random
Documents with Different Content
The Project Gutenberg eBook of Tom Watson's
Magazine, Vol. I, No. 1, March 1905
 This ebook is for the use of anyone anywhere in the United
States and most other parts of the world at no cost and with
almost no restrictions whatsoever. You may copy it, give it away
or re-use it under the terms of the Project Gutenberg License
included with this ebook or online at www.gutenberg.org. If you
are not located in the United States, you will have to check the
laws of the country where you are located before using this
eBook.

Title: Tom Watson's Magazine, Vol. I, No. 1, March 1905

Author: Various

Editor: Thomas E. Watson

Release date: July 31, 2020 [eBook #62797]

Language: English

Credits: Produced by hekula03, Paul Marshall and the Online

Distributed Proofreading Team at
https://www.pgdp.net (This
book was produced from images made available by the
HathiTrust Digital Library.)

*** START OF THE PROJECT GUTENBERG EBOOK TOM WATSON'S

MAGAZINE, VOL. I, NO. 1, MARCH 1905 ***
 Extract from a three-column review in the San Francisco
Examiner:
“Mr. Hastings has touched the very core of the
matter respecting the proclivities of our doddering
plutocracy. Throughout his book he has revealed that
plutocracy in its true light and shown it to be
something utterly conscienceless and debased. No
more scathing review of the situation, as it is seen at
present, could possibly be given in a work of fiction.”

SHALL WE
HAVE A
KING?

Will the United States be a monarchy in 1975?

Have you read “THE FIRST AMERICAN KING,” by
George Gordon Hastings? It is a dashing romance in
which a scientist and a detective of today wake up
seventy-five years later to find His Majesty, Imperial
and Royal, William I, Emperor of the United States and
King of the Empire State of New York, ruling the land,
with the real power in the hands of half a dozen huge
trusts. Automobiles have been replaced by
phaërmobiles; air-ships sail above the surface of the
earth; there has been a successful war against Russia;
a social revolution is brewing. The book is both an
enthralling romance and a serious sociological study,
which scourges unmercifully the society and politics of
the present time, many of whose brightest stars
reappear in the future under thinly disguised names.
There are wit and humor and sarcasm galore—a
stirring tale of adventure and a charming love-story.
Net $1.00, postpaid. All Booksellers,
or sent postpaid upon receipt of price by

TOM WATSON’S MAGAZINE

121 West 42d Street, NEW YORK CITY
 TOM WATSON’S MAGAZINE
THE MAGAZINE WITH A PURPOSE BACK OF IT

March, 1905

The Political Situation Thomas E. Watson 1

To W. J. B.—To President Roosevelt—The Ship Subsidy —Hearst, the Myth—Mr.
Bryan’s
Race in Nebraska—Let the Greenbacks Alone!—En Route to Royalty
The Palace Edwin Markham 12
The House in the Jungle St. Clair Beall 13
A Belated Reconciliation Will N. Harben 32
Franchise Wealth and Municipal John H. Girdner, M.D.
40
Ownership
The Storm-Petrel Maxim Gorky 44
What Buzz-Saw Morgan Thinks W. S. Morgan 45
A Family Necessity Alex. Ricketts 49
The Songs We Love Eugene C. Dolson 49
The Alligator of Blique Bayou Frank Savile 50
The Boy; His Hand and Pen Tom P. Morgan 60
The Force of Circumstance Chauncey C. Hotchkiss 61
An Ideal Cruise in an Ideal Craft Wallace Irwin 72
The Heritage of Maxwell Fair Vincent Harper 73
The Butcheries of Peace W. J. Ghent 87
Remembered Ella Wheeler Wilcox 90
Leonard Charles van
Martyrdom 90
Noppen
The Heroism of Admiral Guldberg Robert Barr 91
A Sociological Fable F. P. Williams 95
The Old 10.30 Train Marion Drace 96
Gallows Gate H. B. Marriott-Watson 97
The Judge and the Jack Tar Henry H. Cornish 105
Object, Matrimony Caroline Lockhart 106
The Rivers of the Nameless Dead Theodore Dreiser 112
Another View of the Simple Life Zenobia Cox 114
The Corner in Change William A. Johnston 118
Car Straps as Disease Spreaders John H. Girdner, M.D. 124
The Say of Reform Editors 126
Application made for entry as Second-Class Matter at
New York (N. Y.) Post Office, March, 1905
Copyright, 1905, in U. S. and Great Britain.
Published by Tom Watson’s Magazine,
121 West 42d Street, N. Y.
TERMS: $1.00 A YEAR; 10 CENTS A NUMBER

TOM WATSON’S MAGAZINE

FOR APRIL
EDITORIALS Hon. THOMAS E. WATSON
In Russia—President Roosevelt and the Railroad
Problem—Bribery in Georgia—Who Pays the Taxes? —
The Free Pass Evil, etc., etc.

CORRUPT PRACTICES IN POLITICS

Hon. Lucius F. C. Garvin,

Ex-Governor of Rhode Island
THE NEW YORK CHILDREN’S COURT
 Hon. Joseph M. Deuel,
Author of the legislation creating the Court
and one of the Judges presiding therein
CONSERVATIVES AND RADICALS

John H. Girdner, M.D.

NEW SINS—Footpace Ethics in a Horse-Power
World

Charlotte Perkins Gilman

THE CONSTITUTION—A Document that Needs
Revision

FICTION
WILL N. HARBEN OWEN OLIVER
W. MURRAY GRAYDON Capt. W. E. P. FRENCH, U.S.A.
ELEANOR H. PORTER B. M. BOWER
VINCENT HARPER HUGH PENDEXTER

Tom Watson’s Magazine

VOL. I. MARCH, 1905 No. 1
 The Political Situation
BY THOMAS E. WATSON

C
AREFULLY studied, the election of Nov. 8, 1904, affords more
encouragement to Reformers than any event which has
happened since the Civil War.
In smashing the fraudulent scheme of Gorman-Hill-McCarren-
Belmont, the people proved that there was still such a thing as
public conscience. The whole Parker campaign was rotten—from
inception to final fiasco—and the manner in which the masses rose
and stamped the life out of it was profoundly refreshing. Roosevelt
stood for many things which the people did not like, but they
recognized in him a man instead of a myth, a reality instead of a
sham.
He had fought abuses in civil life; he had fought the enemies of
his country on the battlefield; he had achieved literary success; he
had been a worker and a fighter all his days. He had faced the coal
barons and virtually brought them to terms; he had bearded the
railroad kings and broken up the Northern Securities Combine. Thus,
while he “stood pat” on many things which the people detested, he
stood likewise for many things they admired, and they gave him a
vote larger than that of his party.

Another thing helped Roosevelt. This was the prominence of

Grover Cleveland and his “second administration” gang. Apparently
Parker had no conception of the bitterness with which the masses
hate Cleveland. Because he was cheered by the self-chosen
delegates to the St. Louis convention, because he was given a cut-
and-dried ovation by the business men of New York City, the
Democratic bosses seemed to believe that the more of Cleveland
they forced into the campaign the better the country would like the
taste of it.
So they not only kept Cleveland on exhibition in the most
conspicuous manner, but they dug up John G. Carlisle, Arthur Pue
Gorman, Olney of Massachusetts, and other Cleveland fossils, until
Parker’s identification with Cleveland’s second administration was
complete.
And when that happened, it was “Good-bye Parker!”

Cleveland had issued the bonds which Harrison had refused to

issue; he had sold $62,000,000 of these bonds at private sale, at
midnight, to J. P. Morgan and his associates; the price was less than
that which the negroes of Jamaica were getting for their bonds!
August Belmont was Morgan’s partner in that infamous deal.
Therefore, when Cleveland and Belmont got so close to Parker that
he couldn’t breathe without touching them on either side, the
suspicion became violent that the same Wall Street influences which
had pledged Cleveland to a bond issue had pledged Parker to the
same thing.
There is no reasonable doubt whatever that Parker’s managers
had pledged themselves to another issue of bonds.

How could these bonds have been issued? Easy enough.

Cleveland had invented the process by violating the law; and the
Cleveland precedent still stands.
To get more bonds, you only need another President who will
take orders from Belmont and Morgan at secret, midnight
conferences.
 Then there was John G. Carlisle. Among political shrubs which
are aromatic, none smells sweeter than he. Not by any other name
would he smell half so sweet. Carlisle was the Whisky Trust
representative in Congress, who made so many speeches for Free
Silver and Tariff Reform. Placed in Cleveland’s cabinet he crawled at
the feet of the gold-bugs, and he wrote a new tariff for the Sugar
Trust, which enabled those robbers to take annual millions from the
people in repayment for the thousands which the Trust had put into
the Democratic Campaign fund.
This man, Carlisle, was exhumed and brought to New York to
make another speech for “Reform” and for Parker!

Likewise there was Gorman. With a political ignorance which is

hard to understand, Parker seemed to believe that his salvation
depended upon linking himself to Gorman. He appeared to breathe
easy only when sitting in the lap of Gorman. Nothing in the way of
campaign plan could be sent forth into the world with any hope of
success until there had been a laying-on of hands and a blessing by
the cloud-compelling Gorman. Yet it would seem that a well-
informed schoolboy should have been able to tell Parker that
Gorman was one of the best hated men living.
When poor people were freezing in the big cities and the Coal
Trust was pitiless, and the golden-hearted Senator Vest of Missouri
proposed to cut the ground from under the feet of the Trust by
putting coal upon the Free List, who was it that virtually said in the
United States Senate, “Let the people freeze; the Trust shall not be
weakened”?
It was Gorman, of Maryland!
Who was it that took the Tariff Reform Measure of Wm. L. Wilson
and turned it into an elaborate device for enriching the few at the
expense of the many?
It was Gorman.
 Who took Sugar off the Free List and put a tax of $45,000,000
upon it?
Gorman.
Who increased the McKinley duties upon lumber and nails and
wire and trace-chains and horseshoes and iron-ware which the
common people must use?
Gorman.
Who doubled the tax on molasses?
Gorman.
Who stands upon the Democratic side in the Senate of the United
States as the champion of the Sugar Trust and all other Democratic
Trusts?
Gorman.
But Parker could never get enough of Gorman. The people could
—and did. Their votes showed that they wanted no more tariff bills
fixed by
Gorman.

Why was the election encouraging to reformers?

Because it showed such an increase in the independent vote.
At least a million Independents voted for Roosevelt because they
were hell-bent on beating Parker. In part, they were moved to do
this because of the belief that Roosevelt himself leans to radicalism.
His past record as a reformer gave hope that during the next four
years he would be a powerful factor in bringing about improved
conditions.

Reformers not only take encouragement from Parker’s loss of

votes, but in the victories won by Douglas, La Follette and Folk.
 Widely separated as were the States of Massachusetts, Wisconsin
and Missouri the fact that the independent voter broke party lines in
each of these States to support a genuine reformer is the most
significant fact among the election results.
No one can misunderstand it. The people want honest leaders.
The people will follow without flinching. Party names count for
nothing. Give the people a MAN: fearless, honest, aggressive,
standing for something, and not afraid to fight for it: the people will
follow him to the death.

We too often say, “The people are fickle; they won’t stand by
their own leaders!” Ah, friend! Think how often the people have
been fooled. See how many men they have put into office to
accomplish reforms. See how often these leaders have forgotten
their pledges as soon as they began to draw salaries, free passes
and perquisites!
The people have been betrayed so often that they are
discouraged. But don’t you doubt this, brother: Another reform wave
is coming, and woe unto those leaders who seek to check it!

Here is the condition of the Democratic Party:

For four years it is bound to the St. Louis platform, plus Parker’s
gold telegram, plus Parker’s message to Roosevelt “heartily”
congratulating him upon his election.
For four years Belmont, McCarren, Meyer, Dave Hill, Gorman &
Co. have absolute control of the party machinery.
For four years the official commander-in-chief, the standard-
bearer of National Democracy is Tom Taggart, the gambling-hell man
of French Lick Springs, Indiana!
 Commenting upon the campaign, The Independent, of New York,
says that Mr. Bryan gave his support to the Democratic ticket, but
took back nothing which he had said about Parker. The Independent
is mistaken. Bryan changed his position so often and so fast that Dr.
Holt evidently failed to keep up.
In that special-car trip of his through Indiana, Mr. Bryan’s
evolutionary process developed him into a Parker champion, who
saw in the Esopus man “The Moses of Democracy,” one whose
“ideals” were the same as Bryan’s “ideals,” one whose candidacy
enlisted Bryan’s support as cordially as though Bryan “had framed
the platform and selected the nominee.” Oh, yes, that was about
what he said, Dr. Holt.
And when he had finished saying it twenty-two times per day, the
Indiana voter girded up his trousers, trekked to the polls, and voted
for Roosevelt.

To W. J. B.
Would you be so kind as to tell us when and where you will &
commence to reorganize the Democratic party? You promised to
begin “immediately after the election.” What is your construction of
the word “immediately”? And what did you really mean by
“reorganize”?
Your party is fully organized from top to bottom—from Tom
Taggart, the gambling-hell man, down to Pat McCarren, the Standard
Oil lobbyist. How can you reorganize a party so thoroughly
organized? You can’t do it, you are not trying to do it, and you must
have known all along that you couldn’t do it.
Watch out, William! The people have loved you and believed in
you, but your course in the last campaign has shaken your
popularity to its very foundations. Beware how you trifle with the
radicals. If you want to come with us, come and be done with it. If
you want to go to the Belmonts and Taggarts, go and be done with
it.
Be assured of this, William—you can’t ride both horses!

To President Roosevelt
The people have given you power and opportunity. For four years
you will have a responsibility such as few men have ever had.
What Will You Do With It?
The Express Companies are robbing the people of many millions
of dollars every year in excessive charges for carrying small parcels.
In every civilized land, save ours, the Government carries these
small parcels at a nominal cost, as a part of the postal service.
In America, a venal Congress keeps the yoke of the Express
Companies fastened upon the people and will not allow the
government to establish a Parcels Post. Mr. President, will you not fix
your attention upon this monstrous abuse? Will you not come into
the arena and help us in the fight for the Parcels Post?
Mr. President, the railroads are charging the government
$65,000,000 per year for carrying our mails! This represents a yearly
income of more than two per cent. upon three billion dollars.
Squeeze out the water, and the railroads of the United States
could be bought for three billion dollars.
Therefore, on the carriage of mails alone, your administration is
paying the railroads more than two per cent. upon their entire value!
The Government could float a two per cent. bond at par, and if it
issued enough bonds to pay for all the roads the annual interest
charge would be no greater than we now pay for carrying the mails.
Can you do nothing about this, Mr. President? Is your strong arm
powerless to defend the people against this high-handed robbery?
 Mr. President, your administration is now paying the Oceanic
Steamship Company $45,000 per year to carry mails to the semi-
savages of Tahiti. This island is under French control. French
steamers offered to carry these mails for $400 per year. Your
administration refused the offer, and continued to pay an American
Corporation $45,000. Did you know this, Mr. President? Is there
nothing you can do about it? Must the taxpayers be plundered of
$44,600 every year simply because an American Corporation wants
the money?
Mr. President, is it right that to China and Japan American-made
cloth should be sold cheaper than we Americans can buy it? Is it
right that we should have to pay more for implements to work our
fields with than the South American farmer pays for the same tools?
For a hundred years our manufacturers have been protected from
foreign competition in the home market; they charge us higher
prices in this home market than are paid by any other people on
earth; they organize this monopoly into a Trust, and then they take
their surplus goods into foreign markets and sell them to foreigners
at a lower price than they sell to us. Is that right, Mr. President?
How can this evil be corrected? How can the Trusts be curbed?
By putting on the Free List every article which is sold abroad
cheaper than it is sold here, and every article which enters into the
necessary makeup of the Trust.
Mr. President, under your administration corporate wealth
escapes national taxation, as it has done for the past thirty years.
Under Abraham Lincoln, the railroads and the manufacturers paid
a federal tax.
They pay none now.
Under Abraham Lincoln, the vastly overgrown Insurance
Companies and Express Companies paid a federal tax.
They pay none now.
Is that right, Mr. President?
 Why should the poorest mechanic, clerk, storekeeper, printer,
farmer, or mine-worker pay excessive federal taxes upon the
necessaries of life while the billion dollar corporations pay nothing at
all?

The Ship Subsidy

In his message to Congress the President says:
“I especially commend to your immediate attention the
encouragement of our merchant marine by appropriate legislation.”
Does Mr. Roosevelt, like the late Senator Hanna, favor the Ship
Subsidy? Is the government going to hire merchants to go to sea?
Are we to have hothouse commerce sustained at the expense of the
taxpayers?
What ails our merchant marine? Why cannot American merchants
compete with British and German merchants on the ocean?
Simply because our own laws will not allow it. Our navigation
acts have destroyed the American merchant marine.
How?
By denying registry and the protection of the flag to any ship not
built in one of our own shipyards. We are not allowed to buy vessels
from England, Scotland or Germany without losing the protection of
our government. We must build them at home. Our precious tariff
increases the cost of all shipbuilding material, while in Great Britain
vessels are built under free trade conditions. Hence it costs us more
to build any sort of seagoing vessel than it costs Great Britain. If we
were allowed to buy ships abroad we could get them on equal terms
with British merchants. Consequently we could compete with them
for the carrying trade. We would get our share. The American
Merchant Marine would once more flourish as it did prior to the Civil
War. The Tariff compels the merchant to pay more for an American
ship than the Englishman pays for an English ship, and our
Navigation laws compel the American merchant to use the American
ship or none.
Result: The Englishman gets the business.
It was just this kind of legislation which provoked the preliminary
troubles between Great Britain and the American Colonies. Our
forefathers hated the British navigation acts; the sons copied them.
Great Britain grew wise, swung to Free Trade, and took the seas
away from us. Our navigation acts represent the most violent type of
the Protective madness. To deny the merchant the right to buy his
vessel where he can get it cheapest is mere lunacy. The cheapest
and best ships will inevitably get the cargoes; and where the law
denies to the American the chance to get the cheapest and best
vessel it simply puts him out of the combat.
Our Navigation acts have done that identical thing.
What is the remedy? Senator Hanna wanted “ship subsidies.” In
other words, the merchant was to be encouraged to go into the
shipping business by the assurance that the Government would go
down into the pockets of the taxpayers and pull out enough money
to make good the difference between the costly ships of America
and the cheaper, better ships of Great Britain.
To escape the effects of one bad law, Senator Hanna proposed
that Congress should pass another. The Tariff, which plunders the
many to enrich the few (see recent remarks of Parker and
Cleveland), has killed the merchant marine; therefore the merchant
marine must be restored to life, not at the expense of the enriched
few, but of the plundered many.
The merchant marine has been destroyed by the system which is
“the mother of the Trusts,” by the system which sells to foreign
consumers at a lower price than to home consumers.
Why not encourage our merchant marine by allowing our
merchants to buy their vessels in those foreign markets where our
Protected Manufacturers sell their wares so much cheaper than they
sell them to us at home?
 Would it not be the most shameless kind of class legislation to
take the tax money of the unprivileged masses of our people (who
pay practically all the taxes), and build up fortunes for another class
of privileged shipowners.
The beneficiaries of protection are the few: its victims are the
many.
Thus the favored few get all the benefits of protection and
escape all its evils; while the unprivileged many bear all of its evils
and reap none of its benefits.
We are told that Great Britain and Germany subsidize their
merchant marine and that therefore our government must do it. The
argument would be contemptible even if the facts supported it, but
that is not the case. Great Britain does not subsidize her merchant
marine nor does Germany do so. Great Britain pays certain lines for
specific mail service and colonial service; nothing more. Germany
does likewise. Neither country hires merchants to go to sea about
their own business.
There is no more statesmanship in hiring a mariner to engage in
private business between New York and Liverpool than there would
be in hiring John Wanamaker to establish another branch of his
mercantile business in San Francisco or Terra Del Fuego. Such
legislation as that is Privilege run mad.
When Napoleon encouraged the beet sugar industry in France by
bounties he may have done a wise thing. France was under his
despotic control; commerce with the world was cut off; internal
development became the law of self-preservation.
But no imperial sceptre rules the ocean. There can be no
monopoly of the use of her myriad highways. Amid her vast areas,
natural law mocks the puny contrivances of men. Competition is
free. The ocean race is to the swift; the battle is to the strong.
Whoever can do the work, do it quickest, cheapest, surest, best, will
do it—American bounties to the contrary notwithstanding.
 Take off the rusty fetters which bind the limbs of the American
seaman and he will need no bounty. Give him a fair start, an open
course, and he will outrun the world. Keep the chains on him—and
he will never win!
Suppose you give bounties to the shipper, then what? To the
extent of the bounty he will do business—no further. And you will
soon find that you have attracted mercenary corporations who do
business for the bounty, the whole bounty, and nothing but the
bounty.
We tried this ship subsidy business once before—from 1867 to
1877. What was the result? Scandals and failure. Congress took
more than six and a half million dollars of the people’s money, gave
it to greedy corporations and got nothing in return save a fit of
disappointment and disgust which lasted the country till the advent
of Hanna.
We earnestly hope that President Roosevelt will look into the
record of the former subsidy experiment before he ever signs a bill
of like character.
In 1856 a little more than three-fourths of all our exports and
imports were carried in American bottoms. In 1881 seventy-two
million bushels of grain were shipped from New York to Europe, and
not one bushel of it went in American ships.
Less than one-sixth of our marine freight was handled by
ourselves in 1881, and the amount has gone on dwindling.
Great Britain improved her methods of building ships; built
cheaper and better vessels than ours. The law did not permit us to
buy from her, but did permit her to bring her ships into our waters
and capture our trade; and so she captured it.
We are the only people in the world who are not allowed to buy
ships wherever we can buy them cheapest. We are the only serfs
alive who are chained hand and foot to obsolete Navigation laws.
And to escape the logical consequences of our folly we do not
propose to repeal the monstrous laws which led us into the difficulty,
but we do propose to compel the taxpayers to make good, by
subsidies, the difference between the costly American ship and the
cheaper, better European ship!
When statesmanship gets down to that low ebb its morality is
gone.
A venal Congress may pass such a measure, but we do not
believe an honest President will sign it.

Hearst, the Myth

Because he is not perpetually making an exhibit of himself, a
good many shallow politicians sneer at W. R. Hearst and call him a
myth.
Because he is not everlastingly on his feet reeling off speeches
which come from nowhere and go nowhere, the average regulation
“orator” looks down upon the modest, silent man from New York as
a very inferior mortal, indeed.
Yet W. R. Hearst, with all his shyness and silence, has a way of
hitting out quick, hard and sure that does more good for the people
than all the “orators” have done in the last decade. If there is
anything on this blessed earth that we have got enough of at this
time, it is talk, talk, talk! From Presidents in fact and Presidents in
prospectus, from Senators of all shades and Congressmen of every
variety down to oratorical Federal Judges, College Doctors and
legislative lights we have floods of talk, talk, talk! The misery of it all
is that this oratory doesn’t mean anything. It strikes a bee-line for
the waste basket.
It lives today, echoes tomorrow, and is forgotten the day after.
The orator himself thinks only of the success of the speech. He
drinks in the immediate applause, he gloats over the newspaper
puffs, he puts out his chest, he is happy: and that is all. The speech
accomplishes nothing; was not meant to accomplish anything.
Perhaps the orator himself voted for the thing which he denounced,
as happened with the Panama business when Democratic “orators”
spoke on one side and voted on the other. Now if there is anything
which the American people are sick unto death of, it is this kind of
patent-medicine oratory. What we all want just now is that men shall
become workers instead of automatic spellbinders. We want men
who actually do something—men who have ideas, plans, practical
resources; men who will literally take up their clubs and hammer
away at monstrous abuses wherever they show their heads.
Such a man is W. R. Hearst. By his assault upon the Coal Trust he
has exposed the heartless methods of capitalism and laid the
foundations for much good work in the future. By his swift,
successful attack upon the Gas Trust, which, by the collusion of city
officials, was about to steal seven million dollars from the taxpayers
of New York, he has set an example which should inspire every
reformer in the Union.
May his courage become contagious! May his example breed
imitations! May his firmness in standing for the rights of the people
raise up enemies to the Trusts throughout the land!
Mr. Hearst is a Democrat; the corrupt officials who were about to
surrender the treasury of New York to the Gas Trust were
Democrats; that fact did not bother him in the least. Rascality is
doubly odious when it borrows a good name; and the honest
Democrat did not hesitate to bring his injunction down like a flail
upon the heads of the dishonest Democrats who were betraying
their trust.
We wish we could swap a couple of hundred “orators” for
another myth like William R. Hearst.

Mr. Bryan’s Race in Nebraska

 In a recent issue of his paper, Mr. Bryan says, referring to Mr.
Watson:
The small vote which he received—a vote much
smaller than Populists, Democrats, and even
Republicans expected him to receive—shows either
that there are few who agree with him as to the
course of action to be pursued or that they did not
have confidence in his leadership. It is not only more
charitable, but more in accordance with the facts, to
assume that the reformers had personal confidence in
Mr. Watson, but did not agree with him as to the best
method of securing remedial legislation.
This paragraph reminds me that Mr. Bryan was likewise a
candidate in the year 1904.
He ran for the United States Senate in the State of Nebraska, and
he got no votes to speak of. Out of 133 members of the Legislature,
he captured less than a dozen.
The small vote which he received—a vote much smaller than
Populists, Democrats and even Republicans expected him to receive
—shows either that there are few who agree with him as to the
course of action to be pursued, or that they did not have confidence
in his leadership. “It is not only more charitable, but”—and so forth.
Mr. Bryan says that “reforms are not to be secured all at once.”
Quite right; and they will never be secured at all by leaders who
change front as often as Mr. Bryan has done within the last twelve
months. Neither will they be secured by a political party which
preaches a certain creed for eight years and then throws it aside like
a worn out garment. Nor will reforms ever be secured by a party
which contains so many different sorts of Democrats that nobody
knows which is the genuine variety.

Let the Greenbacks Alone!

 To the right, to the left, in front, in the rear, we are beset by
problems, abuses, critical conditions, wrongs crying for redress,
victims of legislative injustice demanding relief. That a President of
the United States should be blind to so many self-evident conditions,
deaf to so many sounds of suffering, and should go out of his way to
strike at the Greenback currency is a fact to cause astonishment.
What harm is the Greenback doing to anybody? What evil has it
ever wrought?
The approval of Lincoln gave it life; the soldier who fought for
the Union, when Roosevelt was in the cradle, was paid with it; the
Union armies were fed and clothed with it when gold had run off and
hid. The Greenback saved the Government in its hour of need, and it
has done good each day of its life ever since. If we had five times as
much of it as now exists, the country would be twice as well off.
Who is it that hates the Greenback?
The National Banker.
Why?
Because the National Banker would like to have the monopoly of
supplying the paper currency. The Government circulates
$346,000,000 Greenbacks; the National Banker circulates
$400,000,000 of his own notes.
The bank-notes earn compound interest for the banker; the
Greenbacks earn no interest at all. Therefore, they compete with the
notes of the banker. They interfere with his business. As long as they
exist, he has no absolute monopoly.
Therefore what?
The National Banker hates the Greenback just as the Standard
Oil detests the independent companies. For the same reason which
moves the Coal Barons, the Beef Trust and the Tobacco Trust to
wage relentless war upon the independent dealer, the money power
demands the suppression of the Greenback. If the National Bankers
can destroy the Greenback, they can fill its place with their own
notes. Loaned out at lawful interest, compounded at the usual
periods, they will wring from the people a yearly tribute of nearly
thirty million dollars. In other words, the country now gets
Greenbacks free of charge, whereas the bank-notes to replace them
will cost $30,000,000 per annum. I can see how this will benefit the
bankers; but whom else will it benefit?
One of the strangest hallucinations that ever entered the
legislative mind is that a banker’s note, based on national credit, is
good, safe, sane currency, while the Government’s own note, based
on national credit, is unsafe, unsound and not to be tolerated. The
first legislators who saw the thing that way were probably hired to
do it. The example having been set, ignorance, prejudice and self-
interest helped to swell the numbers of the converts, until now the
men who cling to the belief that a Government note, issued by the
Government itself would be as good as that which it authorizes the
banker to issue, are in a helpless minority.
If the Government buys paper, sets up a press, stamps a note
and issues it as currency, the banker howls “Rag Money!” The
subsidized editor takes up the dismal refrain, the limber-kneed
politician tunes his mouth to the echo, the wise men of the academy
quit gerund-grinding to talk finance, and with one accord the
orthodox repeat the jeer of “Rag Money,” “Rag Baby” and “Dishonest
Dollar,” until the Government lets the banker take the paper, the
press, the stamp and issue the notes as his own! Then it is all right.
The editor’s soul is soothed; the politician purrs with satisfaction; the
savant of the academy returns to his Greeks and Romans. All is well.
The bankers issue their currency, grow fat on usury, and the
principles of high finance are vindicated. The paper currency of the
Government is a “Rag Baby”; the paper money of the National
Banker is “Sound Money.”
So, we let the bankers exploit a governmental function to their
immense profit, when the Government could use the function itself,
to the injury of nobody, and to the vast benefit of the people at
large. But if the Government did this thing, the National Banker
would lose his special privilege, his unjust advantage, his huge
gains.
Hence, he not only refuses to permit the Government to supply
the country with any more Greenbacks, but he demands the
destruction of those already outstanding. I regret to see President
Roosevelt lending himself to this wicked proposition.
Cleveland, during the whole time he was in office, was hostile to
the Greenbacks and recommended that they be destroyed. Nobody
was surprised at this. In fact, Cleveland had exhausted the capacity
of honest men to be surprised.
But the country hoped for better things from Mr. Roosevelt. He
was thought to be too strong a man to be the blind tool of the
National Bankers.
The Greenback is hurting nobody, is doing great good; its only
enemy is the National Banker, whose motive is sordidly selfish. LET
THE GREENBACK ALONE!
If the President will take the trouble to study for himself the
financial statements issued by his own subordinates, he will discover
a state of things which would otherwise be incredible.
He will find that the bankers are drawing compound interest on
more money than there is in existence!
He will find that they reap usurious revenues from three times as
much money as there is in actual circulation!
He will find that they have drawn interest upon seven times as
much money as THEY ACTUALLY HAVE!
Under the law of its birth, the Greenback is real money. Like gold
and silver, it comes direct from the Government to the people. If you
burn it, and do not supply its place, you contract the currency at a
time when such contraction means national disaster. If you burn the
Greenback, and allow the National Banker to supply its place with his
own notes, then you rob the people of thirty million dollars annually
and give the spoils to the banker!
 He already earns about $50,000,000 per year on his special
privilege of issuing currency.
Isn’t that enough?
He already enjoys the use of one hundred million dollars of the
tax money which other people pay into the treasury; and he fattens
on the luxury of getting this money free of interest and of lending it
out at compound interest to the “other people.”
Isn’t that enough?
And he has filled the channels of trade with his “lines of credit,”
his loans of money which has no existence save in the confidence of
his dupes, until his yearly income from fictitious money is half as
great as the entire revenues of the Government!
Isn’t that enough?

The Greenback is the barrier which stands between the National

Banker and absolute financial despotism.
LET IT ALONE!

En Route to Royalty
The approaching inauguration of President Roosevelt is to be the
most king-like ceremony ever witnessed on the American Continent.
Three thousand troops of the regular Army, twenty thousand
soldiers of the National Guard, the Cadets from West Point and
Annapolis will take part in the parade, and battleships of the Navy
will be ordered to the Potomac to add to the pompous function.
From the White House to Capitol Hill, Pennsylvania avenue is to
be built up on either side with statuary and decorations and plaster
work, which will at least wear the mask of regal magnificence.
The Government will turn its Pension Bureau out of house and
home, suspending public work, in order that Society’s beaux and
belles may have the most magnificent ball ever known since our
Government was founded.
First and last, directly and indirectly, it is quite within the range of
the probable that the public and private expenditure of money in
connection with Mr. Roosevelt’s inauguration will approach, if not
exceed, a million dollars.
Is it in good taste for the representative of a democratic republic
to give his sanction to such prodigalities as these?
Mr. Roosevelt is bound to know that there are ten millions of his
fellow-citizens, fashioned by the same God out of the same sort of
clay, who are today in want—lacking the necessaries of life.
He is bound to know that in this land, which they tell us is so
prosperous, there are now four million paupers.
He is bound to know that there are at least one million half-
starved children working in our factories, wearing out their little lives
at the wheels of labor, in order that the favorites of class legislation
may pile up the wealth which enables them to dine sumptuously off
vessels of silver and gold.
He is bound to know that in one city of his native State of New
York there are at least half a million of his brother mortals who never
have enough to eat, and that seventy thousand children trudge to
the public schools, hungry as they go.
He is bound to know that all over the Southern States hangs a
shadow and a fear, because an industrious people, whose toil
brought forth a bountiful harvest, are being driven by a remorseless
speculative combine into misery and desperation.
It would have been a proof of excellent judgment if the robust
manhood of Theodore Roosevelt had asserted itself against the
snobbery of our shoddy “Society” in Washington, by reducing the
ceremonial of his inauguration to the modest measure of what was
decorous and necessary.