Jasper County Democrat, Volume 2, Number 19, Rensselaer, Jasper County, 19 August 1899 — THE PEOPLE'S MONEY [ARTICLE+ILLUSTRATION]

THE PEOPLE'S MONEY

Organized Treason. What does the American Bankers’ Association propose to do for the American people? Their New Orleans report (1891) declares: “The government not being a producer cannot issue a sound currency.” Yet the first sixty millions of greenbacks were always at par the globe around and never were unsound. Then the Atlanta report (1895) solemnly affirms: “The value of every coin that was ever made has depended upon the weight of pure metal In it.” The well-known fact that the trade dollar has nine-hundredths more pure silver in it than the standard silver dollar and was worth as money twenty cents less, answers tliat falsehood. And to-day the silver dollar will buy nearly twice Its weight in pure silver in the opeu market. Not satisfied with these treasonable utterances this American Bankers’ Association must needs assail the greenback decision of the United States Supreme Court, rendered by a full bench, eight out of nine justices concurring. Atlanta report (1895) is a palpable falsehood: "Under the fiction of law established by the Supreme Court, men are compelled by force of law to accept the promise of a dollar as a substitute for a true dollar.” These arch conspirators throw off the mask in the Chicago report (1893) thus: “In order to accomplish this, first of all silver purchase must cease; without this it is absolutely useless to institute other reforms. Then our legal tenders, the greenback and treasury notes, must be retired. This brings us to the question, what shall fill the gap thus created? There is but one answer. The present tendency in all the great nations of the world is toward the bank currency. Bank currency is what we, too, must depend upon.” The national banks boldly propose to usurp the constitutional functions of the Federal government, and every man and paper that lends them aid and sympathy in their plottings is equally guilty, says M. N. Butler in the Mississippi Valley Democrat. The Detroit report (1897). after denouncing all government interference, adds: “The function of government is to govern. The legitimate function of banks is to issue currency, receive deposits, buy paper and make loans.” These “sound money harpies” in their Chicago report, 1893, claim that *heir national bank blackbacks, with non twenty to thirty per cent, more than their face value of government debt behind them, are over-secure, while silver and greenbacks, with the constitutional power and wealth of (he nation behind them, are unsafe. If we had free silver, 1G to 1, unlimited coinage and allowed the national banks to manipulate the currency, in a short time the country would be In the soup worse than ever. The Chicago report (1893), speaking for the revolutionists, explains: “The same agency (an official organ) would be their best method of influencing legislation. It was an avowed object of the association to struggle for the repeal of certain tax laws. In this they were successful. They influenced legislative opinion. It is comparatively easy for them to gain the ear and confidence of the administrative officers of the national government. Some of their members are high Federal officials. The treasury department stands always with its ear towards the managers of the financial institutions of the country. But it is not so easy for them to win the confidence and approval of the legislative branches of government A great deal of effort must be put forth to gain the attention of Congress.” This national banking octopus has become a very vampire of oppression that is slowly but surely sucking the life-blood of the republic, poisoning and paralyzing the patriotism and Integrity of the nation. Its baneful Influence is everywhere recognised, seen and felt.

Gold Standard. It is becoming very evident that the Republican currency tinkers are not going to make a strong fight for Congressional action favorable to the single gold standard. With their usual duplicity the Republican politicians will palter in a double sense. Their masters—the money kings—demand gold as the standard, but there are other masters to be considered and the 6.500,000 voters who cast their ballots for bimetallism in 1896 give the money tinkers pause. William J. Bryan, in his speech delivered recently at the Auditorium, treated with keen sarcasm the double dealing of the hypocritical Republicans. Among other things, he said: The fight in 1896 was won on the money question. It was the money question expressed in a specific manner that afforded us the means of distinguishing the believer in bimetallism from the believer in the gold standard. And if they tell you to-day that events have vindicated the gold standard, you can answer them, first, that when Mr. McKinley sent a commission all the way to Europe to get. rid of the gold standard he admitted that we were right in 1896 when we said the gold standard, was not satisfactory. Not only can you point to the fact that the commission went to Europe as an evidence that the gold standard was not then satisfactory, but you can point to the failure of the commission as an evidence that independent action is absolutely necessary to secure success. But it Is just the sort of thing so ably satirised by Mr. Bryan that the Republicans are again contemplating. —Chicago Democrat.