People's Pilot, Volume 4, Number 35, Rensselaer, Jasper County, 23 February 1895 — Page 1

T.vcntj -five cents pays for a good 25c book and.a three months trial subscription to

VOL. IV.

BANKERS'CONSPIRACY

MAY FIND THIRTEEN AN UNLUCKY NUMBER. Mr. J. W. Shuckers Exposes the Secrets of the National Bank Conspiracy to Prodace a Panic —Gives the Names, Dates and Places. Washington, Jan. 5. —Special—Mr. J. W. Shuckers, who was private secretary for Salmon P. Chase during all the war period, has created quite a sensation in Washington by making public the secrets of the national bank conspiracy to produce a panic and secure the repeal of the Sherman act. He goes into the minutiae of the whole affair and gives the names, dates and places. An attempt was made at the last session of the 52d congress to pass a refunding bond bill, and Villard and Don Dickinson were sent to Washington to push the matter. Sherman introduced such a bill but the effort failed. It was then resolved, says Mr. Shuckers, to force the passage of the bill by wrecking the fortunes of tens of thousands of business men and throwing 3,000,000 of men, women and young people out of work, with all the sorrows and disaster which that implied. He claims that the conspiracy was composed of only thireen men: Grover Cleveland, John G. Carlisle, Assistant Treasurer Jordan, Chas. J. Canada and nine national bank presidents, viz: Henry W. Camron, Chase National Bank; Edward H. Perkins, Importers’ and Traders’ National; Geo. S. Coe, American Exchange National; James T. Woodward, Hanover National; Brayton Ives, Western National; W. W. Sherman, National Bank of Commerce; George C. Williams, Chemical National, and Frederick Tappen, Gallatin National. There were nine different conferences held before the final details were arranged, and Mr. Shuckers gives the dates, places and names of parties in attendance. The most important of these was the meeting held at the private residence of the president of the Chemical bank, at which all of the above named were present except Cleveland, and Carlisle was his direct representative. This meeting was held April 27, 1893. At this meeting it was resolved to bring on a crash by a universal refusal to renew loans. The bankers left the Willianfs residence, rushed to the telegraph offices and wired orders to every part of the United States to stop loans, and then the crash came. Within twelve days after this meeting, banks and business houses in every part of the United States were failing. Nothing for years has made a profounder sensation than these revelations of Mr. Shuckers. They bear the impress of truth.

THE PRESIDENT’S BILL.

Bis Suggestions Formulated Into a Bill to Be Bushed. Washington, Jan. 28. —Chairman Springer, of the banking and currency committee of the house, has introduced a bill to carry into effect the recommendations of the President's message, ge has notified bis committer to meet

FOR THE FREE AND UNLIMITED COINAGE OF SILVER AND GOLD AT THE PARITY RATIO OF SIXTEEN TO ONE WITHOUT REFERENCE TO ANY OTHER NATION ON EARTH.

The* People’s* Pilot* Free FOR THREE MONTHS. rVien3,s Patrons: ok This circular letter is addressed to those patrons of the Pilot who may feel an interest in extending its circulation, and if you will kindiy consider this proposition it will be greatly appreciated, and you may find it convenient to add one new subscriber’s name to our trial list. By special arrangement with the publishers of the following book£, which you have probably seen advertised and described, they can be obtained at so reasonable a price that the publisher of the People’s Pilot has determined to make this offer to obtain absolutely new trial subscribers: For every person who purchases one of these books at its regular selling price, the People’s Pilot will be sent to any address that may be desired. These books are excellent works by well known authors, and comprise the very cream of reform literature. The books are absolutely nonpartisan in character, dealing wholly with social questions from the standpoint of true political economy. If you do not care to ask your neighbor to buy one of these books and get the paper three months free, might it not please you to buy a book for yourself and have the paper sent to him. If each real friend of the paper and the cause it espouses, would add but one name to this trial list a great work would be accomplished, and it would nearly double its already large list. A Story from Pullmantown, 25c An Ounce of Predention, 50c The Pullman Strike, 25c From Earth’s Center, 30c Money Found. 25c Coin’s Financial School, 30c The Right of Labor, 25c Ten Men of Money Island, ) Sullivan’s Direct Legislation, 25c ' P. P. Shot and Shell, 35c Shylock’s Daughter, 25c 7 Financial Conspiracies, ) The Baltimore Plan, 25c Looking Backward, ' 50c

THE PEOPLE’S PILOT.

to-morrow morning and consider the bill. The bill is as follows: An act to authorize the secretary of the treasury to issue bonds to maintain a sufficient gold reserve and to redeem and retire United States notes, and for other purposes. Be it enacted by the senate and house of representatives of the United States of America, in congress assembled, That in Older to enable the secretary of the treasury to procure and maintain a sufficient gold reserve and to redeem and retire United States legal tender notes and treasury notes is- I sued under the act of July 14, 1890, entitled, “An act directing the purchase of silver bullion and the issue of treasury notes theieon, and for other purposes,” he is hereby authorized lo issue and sell at not less than par, except as provided in section 2 of this act, Cnitqd States registered or coupon bonds, in denominations of S2O and SSO and multiples of said sums respectively, payable fifty years after in gold coin of tne United States of the present weight and fineness and bearing interest: at a rate not exceeding 3 per cent per annum, payable quarterly in like coin; and like bonds and the interest thereon shal have like qualities, privileges and exemptions as the bonds issued under the act approved July 14, 1870, entitled, “An act to authorize the refunding of the national debt.” Such bonds may be sold and delivered in the United States or elsewhere as may be deemed most advantageous to the interests of the government. Section 2. That whenever any other legal tender notes or treasury notes shall be redeemed in gold they sLail be cancelled and not reissued; and the secretary of the treasury is hereby authorized, in his discretion, to leceive United States legal tender notes and treasury notes issued under the aforesaid act of July 14, 1890, in payment for any of the bonds issued under the preceding section of this act, and the notes so received shall be canceled and not reissued. Section 3. That hereafter national banking associations may take out circulating notes in the manner now provided by law to an amount equal to the par value of the bonds deposited to secure the same. But this provision shall not apply to any bonds now outstanding bearing interest at the rate of 2 per cent only. Section 4. That hereafter no national bank notes of a less demo.aination than $lO shall be issued, and as rapidly as such notes of denominations less than $lO shall be received into the treasury, otherwise than by redemption, they shall be cancelled and an equal amount of notes of like character, but of denominations of $lO and multiples thereof, shall be issued in their places. All silver certificates now outstanding in denominations less than $lO shall, when received into the treasury of the United States, be retier ad and canceled, and silver certificates not outstanding in denominations larger than $lO shall be isued in their stead. Section 5. That from and after the Ist day of July, 1895, all duties od imports shall be paid in gold coin only, and all taxes, debts and demands, other than duties on imports, accruing or becoming due to the United States, shall be paid in gold and silver coin, treasury notes, United States notes, silver certificates or notes of national banks.

RENSSELAER, IND., SATURDAY, FEBRUARY 2!!. lrt>s.

Section 6. That all laws or parts ol laws inconsistent with the provisions of the precediag sections be and they are hereby repealed, and a sum sufficient to carry the provisions of this act into effect be and the same is Hereby appropriated out us any money in the treasury not otherwise apropriated. There is the whole damnable conspiracy of the bankers and the administration. Read it carefully and consider its import. You will observe that section 2 provides that the secretary “at his discretion” may receive legal tender notes and treasury notes for the bonds—and you know what* that means. A secretary whose “discretion” leads him to redeem silver certificates in gold would most certainly accept all notes presented him for bonds. Then observe that the notes are to be destroyed. There would be a run of the treasury for both gold and bonds, and all the legal tender notes in the country would soon be presented. The country would be in debt the amount of all the notes now in circulation, these notes would be destroyed—and the government would have absolutely nothing to show for the whole deal. But the bankers would be in clover. They would hold United States bonds payable in gold principal and interest—• besides that they would hold the gold. Great God in heaven, open -the eyes of the useful people of this country to the outrageous crime about to be committed by the men whom they have chosen to govern them. Arouse them. Shall these infernal bloodsuckers enslave the unborn children of America. Fifty years’ bonds, payable in gold. Better a thousand times .’evolution than such slavery for our children.

Public Auction.

W. C. Babcock will sell at public vendue, at his farm four miles south east of Rensselear, Thursday, February 28, 1895, Simon Phillips auctioneer: 14 head of horses and colts, 10 good work horses and 4 colts. 5 milch cows, one shorthorn bull. 2 wagons, 1 buggy. 2 sets of work harness. 1 set of buggy harress. 1 disk harrow with seeder. 2 walking plows. 1 riding plow. 1 harrow, two cultivators. 1 cornplanter, 2 hay rakes. 1 Deering binder, 1 mower. 1 roller, 1 hay derrick. 1 feed grinder, 1 corn sheller. 1 Hayladder wood rack. Terms. —Sums of $5 cash; over that amount, a credit of twelve months will be given on banka ble paper, or a discount of 8 per cent. W. C. Babcock. ,

For Sale. A good 5 room house and two lots located in Lepold’s addition to Rensselaer. For particulars call on or address Miss Anne Moosmiller. Found. A place to get good bread and cakes —Lakey’s.

EVERY TRAVELING MAN SHOULD HAVE ONE. INTERCHANGEABLE Lurli and 1000-MILE TICKETS. ~ MONON ROUTE. h = They are good Baltimore A Ohio South-western R’y-all divisions. 4 t 4 4 4 for nnfi voar CINCINNATI, HAMILTON 4 DAYTON R. R.-all divisions. ♦ 4 4 4 4 4 • y CINCINNATI, JANCKSON 4 MACINAW R’Y. 444444444 from date of Cincinnati 4 Louisville Mail Line Steamers. ♦ 4 4 4 4 4 4 coip o-nnrl Cleveland, Cincinnati, Chicago 4 St. Louis R’y.- all div.sions. 4 4 ’ 1 & Cleveland 4 Canton R. R. 4 44444 4 444444 for passage on Cleveland, Akron & Columbus R. R 4444444444 thp fnllnwinw COLUMBUS, HOCKING VALLEY A TOLEDO R’Y. 444 44444 ' ° Columbus, Sandusky 4 Hocking R’y. 4444444444 lines: Indianapolis, Decator 4 Western R’Y. t 44444444 Indiana, Illinois 4 lowa R. R. 4444444444444 Louisville, New Albany 4 Chicago R’v. 4444444444 Louisville a Nashville R. R. (Bctimccn Louisville and Cincinnati only.) 4 4 4 4 Louisville, Evansville a St,Louis Consolidated R. R. 4 4 4 4 4 4 Ohio Central Lines. 4444444444444444 f\\i Reoria, Decatur a Evansville R’y. 44444444444 / Pittsburg, Akron a Western R. R. 44444444444 Toledo, St. Louis a Kansas City R. R. 4444444444 Wheeling a Lake Erie. 444444444444444 The above lines afford the commercial traveler access to the principal cities and towns in Indiana, Ohio and Kentucky, with through lines to St. Louis. Note this: The coupons from this book will also be accepted in payment for excess baggage and for seats in parlor cars on the Louisville, New Albany & Chicago Railway, also between Chicago and Cincinnati, via L. N. A. & C. and C. H. & D. Railroads. • The train service of line includes all the conveniences devised to make traveling a pleasure. Vestibuled trains, with parlor and dining cars on all day trains; Pullman buffet and compartment sleeping cars on all night trains. Special features: Steam heat, Pintsch light. SIDNEY B. JONES, City pa». act. I. D. BALDWIN, dis. pa*, ao t. E. H BACON, di». pao act. 232 Clark St., Chicago. 2W. Washington St., Indianapolis. 4th and Market Sts., louisvillc. W. H. MCDOEL, Vice Ptes. and General Manager. general Officesi FRANK J. REED, General Passenger agent. iso Custom House place, Chicago.

THE PUBLIC BUSTED.

NEITHER A THEORY NORA CONDITION, BUT A PREDICAMENT. President Cleveland Makes an Urgent Appeal to Congress for Immediate Issue of More Bonds to Sustain the Golden Calf. f Apparently the gold bugs and bondholders are getting Impatient. Hence they had their President write congress a special message. Even the regular appropriations are to be neglected until the bankers get their special demands. He wants the friends of plutocracy in both old parties to rally and' make a non-partisan fight for more bonds and a gold standard. He wants bonds issued payable principal and interest in gold—since Wall street has officially informed him that the present form of bonds do not mako a good investment. He thinks the gold reserve absolutely essential to maintain our “high national character.” He says that not only are present conditions irritating to capitalists but that “those of our people who seek employment as a means of livelihood” are getting restless. Changed conditions have turned the eyes of foreign investors upon the gold of the government, and to maintain our credit with them, the gold must not be allowed to become low in the treasury bank. The idea of issuing bonds payable in gold is a dandy. There is not enough gold iu the world to pay the interest on obligations—henee to make the principal payable in gold would simply give the capitalists a corner on the earth —and that is just what Grover wants them to have. He wants bonds issued payable in fifty years, believing that the present generation has all it can bear —and of course measures must be taken at onca in order to enslave the next generation of people before they are horniest they might not be born with a disposition to submit to such an outrage.

He wants the duties on imports made payable in gold—which would, of course make gold sell at a premium and would be highly beneficial to bankers who have the gold to sell, and the means to draw more out of the treasury in case they run short. He wants a “sound financial condition.” lie admits that the issue of bonds so tar has proven a failure —but in the same breath goes on to recommend the issue of five hundred millions more payable in gold. He says speculators have reaped a harvest —and of course he wants them to reap some more. Grover is the most abject unblushing tool of Shylock that ever disgraced the President’s chair in America. He is worse than John Sherman—anu either one of them is worse than the devil. He says lack of confidence is what is the matter—but how a five hundred million dollar increase of the public debt and destruction of the best money in the country can restore prosperity he does not attempt to explain. [ The bankers are only people he

considers or asks consideration for. The main question he says is the retirement of government paper, and the substitution of bank pnper based on a government debt and a bank debt. Two debts behind every dollar of bank paper would of course make it “sound.” He admits that the country la in a predicament, and recommends that it be destroyed altogether. His evolution, from public q|£ce being a public trust, to the < ontension that he is in a predicament and wants to turn the v/liole thing over to the devil, is a remarkable exhibition of grand and lofty statesmanship having a fit in a mud puddle. He compliments the people very highly on their industry and ability to create greatness and wealth to rule over them. His bosom friend, Sherman, also suggests that the laborers of the country should bo asked to come forward with the money in their stockings and replenish the reserve for the benefit of the bankers and speculators. Grover suggests that while he is not unfriendly to silver, that he and the bankers don’t want, it made into money. He has no objection to the great Creator having made silver, but thinks it confusing considered in connection with gold, which is the money of God and the speculators.

LACK OF CONFIDENCE.

Some Specimen* or the Fellows Who Talk About Restoring Conscience. Returning confidence and departing cash! They yelled the loudest bsfore election for confidence, and their confidence game caught the voters, and they are all republicans. A New York bank bookkeeper embezzled $354,000. The county treasurer at Spring Valley, 111., defaulted in $12,000. A man named Beatty at Monticello, 111., is SBO,OOO in arrears. Barret Scott of Holt county, Neb., was convicted of stealing $70,000. A republican defaulter surrendered at Mobile, Ala., short $204,000. Albert Gall, state treasurer of Indiana, was short $66,000 in bis accounts. J. H. Davidson, city collector of Lexington, Ky., was found to be short $14,735. Abbot, cashier of the Dover (N. H.) national bank and city treasurer, is short over $90,000. W. F. Rossman, of the Hundson River national bank, of Hudson, N. Y., embezzled $14,000. The Kendall Banking company, of Howard, S. D., failed, having d spostts of $10,009 and S2OO to pay it with. E. H. Carter, clerk in the National Bank of New York, appropriates $30,000 of the bank’s funds. The state treasurer of South Dakota failed to turn over $275,000 to his cuscessor and has gone to the “mighty where.” * - Another financier of Yanto, J 5. D., and London, England, relieved the fortunes of people having confidence several hundred thousands of dollars. — Seneca News.

TO THE MERCHANTS.

Do You Know Where You Are it and Why. Do you know that the dear dollar of plutocracy (goldbugs) means ruin for you and for commission men? pp you know Uie difference between

static and variable expenses? One rarely varies, is stationary, whether the dollar is d< nr or cheap. The other varies with the amount of money in circulation. Let us show you: A man raises 100 acreß of wheat. The yield is 1,000 bushels:, or SI,OOO at $1 per bUßbel. He pays ills static expenses (Interest, taxes, insurance, professional services, etc.,) with SSOO (40 per cent), and you get S6OO. The jobber and manufacturer net all their income from that S6OO, n ; do aloo all village and city interests Now, reduce the wheat to 40 cents per bushel. The 100 acres produces S4OO. Static expenses still takes its S4OO. What does the jobber, the manufactory, the merchant get? What matters it that S2O articles now cost but sl4? If twenty million laborers get on average of $1 per day instead of two, where does the profit of the merchant and landlord come in? Whose battle aro you flghUng? Less wheat is produced than In tho twelve years past. More is exported. World’s crop decreases. Eighteen million more home market mouths. Price, one-third. And you have lost twenty millions under this kind of “protection!” (Cotton, corn afid beef tho same.)—Great West.

Gold Not In It.

As a matter of demonstrable fact the supposed relation of the gold standard to the best of civilization has no existence. Germany, for example, was upon a single silver basis when tne war with France was fought, and the civilization of the country, like its military power, was never higher. France is, and for centuries has been, one of the most highly civilized nations in the world. It has led mankind in the useful arts, and in the meantime it has proved itself to be possessed of resources which have permitted it to recover from disaster more quickly than any other European nation has ever done. But France has always used silver more largely than gold, and at this moment its stock of silver is greater than any in existence outside of India. Our revolutionary war was fought with depreciated paper notes, and the southern rebellion was suppressed with greenback money. Gold was clear out of reach in both cases.—Advance Thought.

A Product of the Two Old Parties.

The sugar trust, which is capitalized at $75,000,000 represents an investment of only $10,000,000. On its capitalization it paid in 1888 27.5 per cent, and in 1889, 23.9 per cent. After reorganization in 1892 the dividends reached 150 per cent on the actual capital invested, and in 1893, 165 per cent. The New York Journal of Commerce and Commercial Bulletin estimates the present profits of the trust at about 220 per cent, or $22,000,000 a year. According to a Wall street paper, H. O. Havemeyer, president of the trust, receives a salary of SIOO,OOO. Theodore Uavemeyer and J. O. Searles $75,000 each, and three other magnates get $25,000 a year each for acting as trustees. And yet a little ring of bogus democrats in the senate compelled congress to put a protective tax upon refined sugar that this “infant industry” might be shielded from foreign competition. No wonder the people turned the democracy out. ...

NUMBER 35.