People's Pilot, Volume 4, Number 31, Rensselaer, Jasper County, 19 January 1895 — KILLING A WILD CAT. [ARTICLE]

KILLING A WILD CAT.

GREAT WILD CAT GHOST DANCE AND SIDE SHOW. The Scueroe to b* Rushed Through. While the Whole Ouag of Plntei Kn ter tela the People With a Ghost Dance. (Chicago Express.) The most infamous banking scheme ever proposed is now being considered in congress and it is a plan by which national banks are expected to supply the entire currency used in the buslness of the country. This currency is to be national bank notes and is to be guaranteed by the government. Preposterous as it may seem, the proposition which is being considered and.to which no banker nor old party editor has yet objected, is that these bankers shall deposit only thirty per cent of security with the government. Under our present national bank law a deposit of government bonds to the amount of 10 per cent more than their circulation is required. They deposit a bond with the United States treasurer and draw interest on it in gold every six months, and for every hundred thousand dollars so deposited are furnished ninety thousand dollar* of national bank notes guaranteed by the government. The government holds the bonds to make good the guarantee. Under the new plan the government will hold only 30 ceuts on every $1 of circulation Many of our readers will think this. In too absurd to be true. It is astounding that serious consideration bo given such a proposition, nevertheless such Is the case. Along with the bill as now presented, is coupled a scheme for state banks. This, along with some minor details, was insertd merely to provide a fighting ground. Old party newspapers are preparing for the fray. Not one word is said about the most Important and damnably infamoua features of the plan, but they are dancing around with their war paint swearing that they see a great, big, live wild oat. They write long editorials and make fiery speeches denouncing state banks, and with bated bieith declare that they see the gleam of a wild cat’s eye. Their intention is too plain. They will insist on eliminating everything about state banks and rush the Balti* more plan through with a whoop. We have killed the wild cat and saved the country, will be their cry, and there are thousands who will look no farther than to be fooled by their flimsy pretense. The Baltimore plan is the most complete and contemptible wild cat money scheme ever devised. No state bank proposition could be more infamous than the bankers’ association planned for the nationa' system. No banker In the country desires t state bank system, nor is it seriously considered in any quarter, but was pu< in the Carlisle bill merely to attract attention from the main issue. The palmiest days of wild cat stat« bank money never approached th# period of prosperity that will be nsh ered in by the new plan. Money will be plenty and it will lx good. It will be guaranteed by the govern ment and that will make it good.

The bank* will draw interest or every dollar of it and (midually abaorl every dollar produced in the country Interest is a never failing worker. T keeps up its pace night and day, ever} day In the week. It has no holidays nor periods of rest It eats continually. Every dollar that circulates will b# accumulating interest, for the nations barker. When the final wind up comes wha security has the government? For everv bank that fails the gov eminent must sell bonds to get gold to pa” off 70 per cent of the cumulation Only 30 per cem will be seepred bj a deposit with the treasurer of th United B'ates and the remn'n ler wil be ps id by the people. Criticism by the old party leaders i oon fined to minor and in most case unimportant details. The intention is that this nefarious scheme will be rushed through will the whole gang of pirates entertaii the people with a ghost dance over dead wild cat. swearing that they se the gleam of light in its eyes. One of the most patriotic utterance of Abraham Lincoln was that thos fellows down on Wall street “ought ti have their devilish heads shot off. But suoh talk as that nowadays * called anarchy. Judge Woods, the famous savio of “Blocks of Five.” Dudley, can’t sav the plutes, nor destroy the patriot* He has dropped hks bread on the bul tered aide, and the peopl* will step a it with both feet. Carxkqik, the iron-hearted, he made another reduction la the of his employee. H * probably eon ten plates establishing a church or makla additions Is sli «*»♦'» u (wci.,,.1 >