People's Pilot, Volume 3, Number 4, Rensselaer, Jasper County, 14 July 1893 — Page 4 Advertisements Column 3 [ADVERTISEMENT]

ticipated, amA that his delay in Cbhvehifig cohgbe*s in tSM tvtk session is ”*•»**< by that ingress would Act contrary to , his wishes, truth <s Mr. | Cteveland w Jwpfe more ibah bfe expected, and thvy are awakening a whole-; some fear among of A’M Vhigbt otherwise M* his bidding if they were not fearful of the con sequence ol flying in the f*e*. tjf public sentiineri th the West and South in, favor of free coinage.

One moss-bach, J. B.“Hender- ' son. e*i’ U. S. senatorof Missouri, ■ active in politics 27 years ago, I has written a long letter lb Sec- | retary CaHGlu giving his views jof ’!*.b monetary condition of the I country. This old back number j stands up for a gold basis, ub I solute, pure and simple and in , support of his theories he points Ito the prosperity of the gold : basis nations of Europe. He, of course, meahs the prosperity of the money power, for examples of prosperity among the common people of Europe are seldom, or ever, referred to by truthful speakers and writers. He says the act of 1878, demonetizing silver, passed by congres* "advisedly and considerately—without dissent.” It is a fact, and Henderson knows it, that this act was never discussed', it was purposely smug gled through congress and even President Grant himself said he signed the bill not knowing that it demonetized silver. If the gold bugs expect to mislead the people they’ must not rely upon such men .as Senator Henderson to do the work,

What can Ae more foolish than the boas; of the banks being full of money’ as an evidence of the soundness of the financial situation. As well tell the farmers who are complaining of a drought and whose crops are being burned up with the parching rays of the sun, that there is plenty of water—just as much as there ever was, Mmo. they know it, too, and expect them to be content, as to tell the great army of bankrupts, the hard pressed merchants, the embarrassed business men that there is plenty of money in the banks. If money was performing its legitimate functions it would not be hoarded in the banks, but would be out among the people vitalizing trade and stimulating industries. As it is to-day it is in the hands of the few, deposited in the banks, requiring heavy reserves of money held in idleness to secure depositors and doing nobody any good. It is the boast of bankers that the reserves in the banks are from eight to ten per cent, in excess of the legal requirements, which, when the immense deposits of the country are considered, makes the aggregate amount of money held as reserves an enormous sum, and this, when added to the more than §700,000,000 held by the government in the treasury and sub-treasuries, takes from actual use among the people and out df circulation almost two-thirds of our total volume of monev.