Democratic Sentinel, Volume 21, Number 28, Rensselaer, Jasper County, 9 July 1897 — Page 4 Advertisements Column 2 [ADVERTISEMENT]

THE PEOPLE’S ENEMIES. [Cincinnati Enquirer.] It is becoming more and more obvious that the money power, which now reigns in this country, through “the Republican organization it has debauched and captured, h s determined to torture the busin ss men intojenforcing its demands as it did in 1a93. Thi is no idle invective. It is .only necessary first to consid r the objects at which our masters (aim, and second, the methods which they have hereto foie employed. And fir t as to their a ms. They have c tod °nf>tthat they desire to » b lißh all Gove nmentpaper circulation, and substitute therefor bank paper. Our Government paper is in round numbers as follows: . $346,000,000 k il \er certificates, represent'I r’.wnvv er , <loll 7®- 430,000,000 Treasuryn tea of 1890,representing silver bullion, 160,000,000 Total - $936,000,090 Their first object is the cancellation and des ti action of the whole greenback circalation. Next the destruction of the legal tender quality of the silver doll ts, and the destruction of all silver certificates, lhe actual circulation of the silver dollars when robbed of their legal tender ch iracter they think would be incon iderable This would be followed up by a sale of all the silver coin and bullion abo\e, ssy. fifty millions for the benefit of speculators in silver, who would buy it at the low price caused bv precipitating sc layge a amount on the'market. They ar > not anxious for a law expressly providi g for retiring the greenbacks, because they have Mr. Dingley’s assurance that the pending tariff bill will produce leaf rt suit at the rate of one hundred millions of dollars a year This large and steady contraction of the currency which has already reached the lin ol a money famine, is intended by its uut ors to further prostrate business, to bankrupt merchants and manufacturers, and to starve the country into coepting their scheme. They make no concealment.that this scheme i to inject into our financial system the poison us blood of irredeemable bank! notes instead of the healthy and natural supply of real money coined from that one of the precious metals, the coinage of which they have stopped by c.iminal methods.

The coming months of the year will be maiked bv increasing business failures, discouragement and desperation. This increasing prostration and psraljsis. with increasing failures and increasing suioidjs, are being planned so», by the despotic power which controls this Administration, as deliberately as it prepared and brought on at the appointed time the panic of 1893, and with the same object in view. All the Republican statesmen agree that the country enjoyed a large measure of piosperitv from 1878 until 1892 inclusive. 1 bis period was exactly coincident with the partial restoration of silver coin ge in 1878, and its enlargement in 1890. In 1892 the gold power determined upon a desperate struggle against silver. They could not again secretly sneak n clause on any pending measure for the demonetization of silver, as they dd in 1893 bv the help of John Sherman, and they decided upon open warfare- They needed only the complicity of President Cleveland and hie Secretary of the Treasury. Th y had already chosen Clevelan . as their-instrument, and foisted him upon the Democratic party bv corrupting the convention, and through him they had chosen a Secretary of h . Treasury who would be their slave. Thev had previ ously used Harrison and his latest Secre - tary of the’treasury, Charles Foster, to inaugurate a dishonest and unlawful practice of redeeming silv r obligations in "° ld - This produced a'run on the gold in th« lieasury, which so reduced that it I was only by the skin of his teeth that Mr Foster was able to tarn over to his sue cessor the one hundred millions in gold, which Sherman had originally fixed as the amount as t e redemption reserve.Even Mr. Carlisle squirmed a little when he was ca.led upon to continue this infa mous outrage of exclusive gold red mption. He mist have talked too ' reely, for bis sieged purpose to pay out silver dollars got into the papers He was instant, ly muzzled bv the President, who imine, d ately authorized a published statement that gold redemption would be maintained. Carlisle gortnto the traces as meekly as an old omnibus horse, and pulled on his load as faithfully dur.ng his whole term. Exclusive gold redemption almost immediately produced the intended effect of cutting down the reserve below what the bankers had fixed as the “safety line Carlisle Cleveland and tie bunkers aud their joint newspaper organs immediately advertised that the treasury was bankrupt and the country on the verge of ruin.This alarmed the lor.a b n hold rs of American securities. who plunged them into our market for whatever they would bring in currency, and then they got gold in ex change for their currency and took it out of the country rhe Adm i istration aud the bankers made themselves te«rs in the moneymarket. They devoted their energ’es to breaking down.confidenoe in the Government, and business confidence between individuals. This they aid as .he fii st step toward greeting the panic which wo “' d a on ® B ’ rve their purpose. They then raised a ejamor that the pui-chase-and coin ee of silver was a arming the-worlds nd must be stopped. It _ud not at any time created the slightest alarm or dlßturbance ' On the contrary, ;uuder it the country was mo t prosperous. Benjamin Hwnson certified to the splen.id effect of tue Sherman purchase net upon the business of the country, with its pur. chase-of f ?ur and a half millious of ounces of silver per month. Read it in bis message of December, 1890. The first sign of a want of confidence in this country was given as a result of Foster’s and Carlisle’s Pfit-up job of a raid on the Treasury gold, and the false howl of the Cleveland administration against the pm lie credit As suon as Cleveland was inaugurated the re peal of the Sherman purchase act was loudly demanded by thi gold trust. Who ‘hatread it can ever forget the dark chapter of history recorded in the New York Sun, when, without contradiction at any tim , it gave the names of great bankers who met at an uptown resid' nee on a Suu da J “'Rfct, with Carlisle present, an I decided upon a plan of action for the purpose of producing a panic through which to effect legislation on this subject? It was decided in that confereuos to pass the word throughout the country to the bank which they could ’pfiuouce that the bank customers must be refused accommo“at.,n > their no ee must not bediscounted; their matui ng notes must not be extender. and businets men must all be driven to the wall. It was then to be explained to them the reason why the banks court no longer ere lit good and solvent customers was that the whole financial system of the country was impe ilod by the purchase aud coinage of silver. The !,°° d S hlch W . BS “ akin g good blood, as ev ®“ Benjamin Harrison declared, was suddetlyfuund to be poisonous.* Indeed; be sto PP ed and th'?, patient . ust be bled indefinitely *bolish the silver coinago entirely and give no substitute. Until this was dono (he banks would no longer perform their usual function of facilitating business. Thus tortured, each fiesperate merchant and manufacturer appealed to hie Representative in Congress to do the bidding of tho gold pirates because until that was done he could have no reiief. And the scheme r worked. But the panic became a conflaition, which came back upon its anthers, was more than they had b ir aineuFor, The country has never recovered from it. We have recited these well kcown facts because it seemed necessary for the purpore of reminding the peopl what those eMMies of mankind are capable of doh t