People's Pilot, Volume 4, Number 39, Rensselaer, Jasper County, 16 March 1895 — Page 2

Equal opportunities for AIL

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Ii is now twenty years ago that this gOAernment- first engaged in building up, fostering and encouragingthe present vast and overshadowing system of .national banking. No favor ever demanded by the banks has ever been withheld, no privilege denied, until now they constitute the most powerful moneyed corporations on the face of the globe. Congress has heretofore on nearly all occasions abdicted its powers under the Constitution over the finances of the banks, except when called upon to legislate in their favor. They have demanded the violation of legislative contracts with the people, and the demand has been granted, whereby their own gains and the people's burdens have been increased a thousandfold beyond right and justice. They have demanded the remission of all taxation on their bonds, and it has been conceded, thus leaving the poor to pay the taxes of the rich. They have been fortified in their strongholds of moneyed caste and privilege bydouble lines of unjust laws supplemented with litre a redoubt and there a ditch, to guard them from the correcting hand of popular indignation, until now, deeming themselves impregnable, they bully and defy the government.

Sir, with full and unrestricted power over the volume of the currency and, consequently, ovei all values conceded to the bank's, together with ample machinery by which in an emergency they can defy the passage of any act of Congress, what is left to tin government except an abject submission ? This government could not, to-morrow, go to wat in defense of its Hag, its honoi or its existence without first ask ing permission to do so of tin great financial corporations of the country. If there was an invading force on our soil th's hour. Congress could not with safety or show of success d( clai ( war to repel it without first sup plicating cowardly and unpatriotic capital, engaged in banking, not to contract the currency withhold financial aid. and leav. the country to starve. In lac , there is no measure of this go\ - eminent, either in peace or ii war, which is not wholly depone ing on the pleasure of the banks This government is at the n .-au of its own creatures. It has be gotten and pampered a systeu whine .s now us master. Th< people have been betrayed inn rie 'latches of a financial des poti.sm which scorns responsi hiiiiy and defies lawful restraint. That truthful testimony refers to ine course of the bank's ii. I*Bl, when they began to rapidly retire their currency in order to compel the government to obey their wishes. The government yielded. President Hayes veioeo a certain funding bill which dici not please the banks. The same history was repeated it 189 H by the banks, in order to coerce tin government into compliance with their wishes on the silver ques tion. Again the government yielded. The repetition of the testimony on this matter has wearied, the nation, and no man has ceased to remember it. The present distressing financial anti industrial condition of the country emphasizes and intensifies that testimony, so all feel it in both purse and person; yet it is into the hands of these banks that, your bill sent in to Congress proposes to surrender the finances of the country. Sir, all the leaders of thought in both of the great political par‘ies have borne testimony 10

the fact that whoever couirols* the currencv of the country is absolute master of all industry ana ivyu-jerce. The government itself ceases to be independent. It can neither declare war. make peace, nor do any important thing witnout consulting the “Neptunes” who preside over the ebb aud flow of the currency. The people and their dearest interests are no longer safe when they surrender the control of their finances into the hands of corporations. As we have recently seen, the corporations controlling the money can put i\p and put down prices assuits their own interests or ca- ' price. All real estate, all growing crops, and every important commodity of commerce is in their power. ‘‘All property is at their mercy.” Sir, these facts and truisms have been so often s.ated that I need not further rei erate them. Now in 1 candor, sir, what must the verdict of history be as to the reputation of the public officer who deliberately surrenders, or advises the surrender of, this great. hatioUj, with all its best and dearest interest, and its millions of warm-beatirg hearts,, into " the ,

THE PEO. dE’S PILOT, RENSSELAER, IND., MARCH 16, 1895, WEEKLY, ONE HOLLAR PER YEAR.

,■ A . * . hands of corporationsf Which know no mercy and worship no god but mammon? Mr. Secretary, in your published reports the facts respecting the volume of currency are not properly set forth. They tend to deceive the people, leading them to mistake the financial condition of the country, and hence, to ascribe the public distress to other causes than the true ones. In your tables of 1893 and 1894, you claim to show the amount of money in the United States, and the amount outside of the treasury. You also attempt to show the annual increase and decrease of the money of the country. In each and every case you fail to make any deductions for lost and destroyed notes and coins, or for exported gold. You call the amount of United States notes (greenbacks) $346,681,016. Senator Plumb estimated, in 1888, that at least forty-six million dollars of those notes had been lost or destroyed. That was six years ago. Since then the waste has continued, and the amount is now evidently, far below three hundred millions. For thirty years, bank notes and greenbacks have been subject to the same gains and losses. Other currencies now inexistence and the subsidary silver coins, have been wasting away for shorter periods. I see no deductions for these great losses, miounting, certainly, to many millions of dollars. As to gold 'ioin, it was rew-’y stated in the hearings bes- .lie banking iiid currency e< i m .tee that, in two years, froi Jme 30, 1891, to June 30, 189 k, one hundred fiftysix millions of dollars had been exported. And, sir, your iveent bond issues to replace exports of gold, seem to show that quid has been leaving the country since June 30, 1893, quite as fast, cr even faster, than ever

before. For the waste and losses of notes and coins, and for the exports of gold, you make no deductions in your tables. This deceives the people. Your tables show an increase of money, while the facts, if all stated, would prove that from year to year oui stock of money in the United -hates is rapidly and continually lecreasing. This, however, is in old trick of the masters whom vou serve. Your predecessors in the treasury department, under other administrations, oiMcticed the same deceptions. i'ou have all been following the 'xatnple of the finance minister >f England in 18:29; and the English historian, Mr. Thomas Doubleday, culled attention to ihe deception as lam now calling attention to your imitation A it. Mr. Doubleday said:— In reply to toe asservation i hat Peel's act was causing the ibe pressure complained of. the 'ukeactually went so far as to assert that the money in circulation at that moment was, notwithstanding the low and declinug markets, equal to the highest amount when the paper money was iu its most depreciated state! He might as well have asserted that, when the thermometer stood at thirty-tivo degrees, the temperature was the same as when it rose to 64 degrees. The assertion, however, was made; and to prove it, the noble luke produced the following extraordinary statement:— (Here follow two tables designed to show that the circulation was greater in 1829 than at any time prior to 1819. The table prior to 1819 shows a circulation of £64,000,000. The table of 1829 shows a circulation of

CGo, 000,000.] The historian then proceeds: — Making every allowance for rhe' increase ot‘ commercial transactions and of the population up to 1830, it is utterly impossible that, with such a circulation. the fall in prices now in progress could have occurred to so great an extent, supposing the estimate to be in, itself creditable. But it is a preposterous I statement on the face of it. To [obtain .£28.000.000 in gold (as •the duke claimed) the duke r.-ust have taken the whole coinage since 1819 and assumed it 1.0 be current, without deduction for exportation and the sums locked up in the tills of bankers, discounters and merchants. After getting through with the false and absurd claim as to gold in. circulation, the historian says:— The statement as to silver coin is equally fallacious—the probability being that not more than half that .amount (£8,000,000) was ever current at one and the same period. Tuis unfortunate attempt at economical calculation on the .part of the minister, of

course became a source of some amusement to thos& who had any knowledge of such matters. Elsewhere it had no effect of any kind; nor did the assertion of overproduction as an excuse for the continuous fall of prices universally over the kingdom fare much better. Now, Mr. Secretary, do you not see yourself in that mirror? Have you not merely repeated the deceptions ordered by your masters, the Shylocks, as the finance minister of England did? Contraction of currency in every commercial country is always followed by the same disastrous results. The authors of it have the same rapacious designs, and their agents and attorneys make the same false report* tell the same absurd stories. is an exacting cri’tic, and the public men who cannot escape attention should be very particular as to the records they make, lest their annals may prove a grief to their posterity. Now, Mr. Secretary, in closing, lam sorry to be able to compliment you on the fulfilment of your prediction of Feb. 21, 1878. Speaking of the demonetization of silver and the destruction of one half of the world's supply of money, you called it “the most gigantic crime of this or any other age” And you added. “Theconsuma tion of such a scheme would ultimately entail more misery upon the human race than all the wars, pestilence and famine that ever occurred in the history of the worid "

That, sir. was strong language, but not too strong to be true. The first effect was reduction of the volume of metallic money. 'Fiie next was a reduction of paper depending on coin redemption. The reduction of money caused falling prices of commodities. That drove all existing money from use into hiding, waiting for prices to touch bottom. As long as commodities increase and the volume of money does not, prices will never touch bottom. Hence, hoarding of money will never cease, and investments will not begin. Suppression and hoarding of money means the depression of industry, idleness of labor and starvation of the people. That is our condition to-day, and there is only a temporary barricade of soup houses in the great cities r o prevent a general uprising of ihe distressed people, ready for any and all crimes in the decalogue. Senator Ingalls of Kansas, another whilom friend of silver, desscrided the situation, Jan. 14, 1891, as follows:

A financial system under which more than one half of the enormous wealth of the country, derived from the bounty of nature vnd the labor of all. is owned by a little more than thirty thousand people, while one million American citizens, able and will ing to toil, are homeless tramps, starving for bread, requires readjustment. A social system which offers to tender, virtuous, and dependent women the alternative between prostitution aud suicide as an escape from beggary is organized crime, for which someday unrelenting jus tice will demand atonement and expiation So it happens, Mr. President, that our society is becoming rapidly stratified, almost hopelessly stratified, into a condition of superflously rich and helplessly poor. We are accustomed to speak of this as the land of the free and the home of the brave. It will soon be the home of the rich and the land of the slave.

Mr. Secretary, when in congress you uttered the prediction; Senator Ingalls the fulfillment. Both of you and the parties to which you belong have contributed to the direful results. vVhat, now, is your opinion of your handiwork. All this, sir, can yet be remedied by the restoration of silver and the lost, destroyed and cancelled paper, and the increase of good, lawful money as the . people increase, in the form of .gold and silver coin and United •States notes, all receivable in the public revenues and legal tender in all payments, but not otherwise redeemable. Such a money rests on all values, and, when circulated through the lawful disbursements of the government. it never fails while the issuing government exists and continues to collect and disburse revenues. There is no exception to this rule, and herein lies our easy and only means of escape from the evils you too truly predicted and which are now upon us. What will you do in this crisis? It is well to note that human life is short and the

hereafter long, and teat the Nemesis of history is making up a never-dying record, which will mention your deeds and perpetuate your memory.

Waked Up at Last.

It is now something over a year since the Coin Publisning Company of this city began the issuance of its financial series, the most famous of which is “Coin’s Financial School.” This publication is having the most phenominal sale of any romance with or without a purpose since Harriet Martineau’s famous series and Mrs. Stowe's “Uncle Tom’s Cabin.” The Tribune figures somewhat in the “School,” and after months of silence and indifference that paper breaks out in a hysterical fit of blackguardism. It waited until all classes of the community, far and near, from college presidents, bankers, and professional men to the draymen on the street and the mighty army of wage workers, are talkmg about it, before throwing spitballs, and then, as usual, falls to calling names, drawing liberally upon the lexicon of billingsgate. This is just what might have been expected, and shows the old inability to distinguish between argument and abuse. The amazing popular demand for this publication shows that the American people are indeed pupils in the school of finance. Never before in the history of the country were the voters, learned and unlearned, rich and poor, so eager to know the real facts and bottom truth about our monetary system. The times are woefully out of joint, and the question is: “What can we do to be saved from going over the brink of bankruptcy?” There is a general determination to restore silver to its old and legitimate place as a money metal. Just what has to be done and undone to secure such restoration is the question of the hour. It cannot be answered by drawing upon the sophisms of theorists, and least of all by vilification.—lnter Ocean.

A Veteran of Political Freedom

Richard Lithicum, a clever newspaper writer well and favorably known in Chicago and throughout the West, writes a very fascinating pen picture of Judge Lyman Trumbull, who in his eightieth year has reentered public life after a silence of many years. This has been one of the most notable political events of the year, for Judge Trumbull has throughout his lopg career won the esteem of friends arid foes alike as a man of great force of character, and of the most judicial and temperate and conservative opinions. Nevertheless lie has.always stood for the widest individual freedom, political and social, and the highest possible citizenship, so that his recent condemnation of what ne considers a-departure from the constitutional juridical rights of the judicary of this country has carried no little weight, and shows that if the judicary* are exceeding their powers the popular arm of the government should exercise a greater discretionary power over the appointing privileges of the Executive. A fine autographed portrait of the old political veteran accompanies the article and lends it additional interest and value.

Agents Wanted.

To handle the Fountain Rubber Scrubber, also the best rubber window washer and dryer ever made. If you mean business send stamps fo"r circulars and terms. Fountain Rubber Scrubber Works, Fort Mandison, lowa.

Money to Loan.

The undersigned have made arrangements whereby they are able to make farm loans at the lowest pssible rate of interest, with the usilal commission. Interest payable at the end of the year. Partial payments can be made on Jan. Ist of- any year. Call and see us before making your loan; our morey is as cheap and easy as any on tne market. Information regarding the loans made by the Atkinson & Rigler Agency at Wabash, Ind., can be had at our office, up stairs in Williams-Stockton building, opposite court house.

WARREN & IRWIN.

Sale bills printed at the Pilot office as soon as ordered. Bring the order in the morning and get them at noon. Prices reasonable.

Best galv. barb wire 2£c lb. at J. M. Hiifty’s, Mt. Ayr, Ind.

ROBERT RANDLE, At tlie #ld stand of Collins A Randle. ******* All the IHO.'t improvements in /arming l, iwPteweNTS. 22» facturers in full assortment, but because of special excellence, the John Deere and the Oliver goods are the most prominently offered again this year, as the most perfect machinery made. These makes are fully up to the high standard that has made them popular so long, and considering their superiority, they are the cheapest implements sold. ******* j The latent proven sueeesss, the wonders ul DISK CULTIWftTOR... Tried last year, guaranteed in every particular; more durable than other kinds; a perfect tool for either level or deep I cultivation; see them before buying. j ******* 1 A first class cultivtor at S 14- 00 A genuine first class top buggy, gQ J Endgate seeders, until April Ist. 8.50 i A good all steel, double shire, steel Inr A beam, walking plow, with site cutter; the best I / il I I plow on earth for the mone; . a bargain at t U **;<:**** j A / if U line of the latest patterns in stylish j BUGGieS. SURREY'S, Gentlemen’s driving wagons, etc. ** s*** I RENSSELAER, INDIANA.

CP. MITCHELL,. Attorney at Law, Practices in all the courts of Indiana and Illinois. Heal estate bought and sold. Ag’t for one of the best Life Insurance companies on the globe—The North-western Masonic Aid of Chicago. FAIR OAKS, IND S. PARKS. ~ DRAYMAN. All kinds of hauling done in the most careful and prompt manner. Pries the very lowest. j B. WASMBUR n, I I’HYSILCIAN AND SURGEON. RENSSELAER, INDIANA. SPecial attention given to diseases of the eye. ear. nose and throat, and diseases of women. Tests eyes lor glasses and treats rupture by the injection method.

A . MrCoy, Pres. T. J. McCoy, Vice Pres. E. X.. Hollingsworth, Cashier. A. K. Hopkins. Assistant Cashier. i McCOY & CO’S Bank. Does a- general banking business. Money loaned for short tiine at current rates. We make a specialty of FARM LOANS on long time, privilege of partial payments. P. J. Sears, pres. Val Seir, Cashier P. L. Chilcote. Aest. Cashier. The liras State bank. Capital Paid in $30,000. Profits *8,500. Organized 'as rf'Stale Bank Jan. 1, 188*. Does general banking business. Interest allowed on special deposits. Tins bank is examined (nmrterlV by the Auditor of State. There lias lievor been a failure of a bunk organized under this law. Money loaned on short time. Exchange bought and sold on a.U Hanking ppinfs. Collections made nhd pronitly reingafep J. C. Tijrawls, Surveyor and Engineer. Office with the County Superintendent, in Williams & Stockton’s block, Rensselaer. 8-23-94 JAMES W. DOUTHIT, LAWYER, Rensselaer - Indiana

MORDECIIF. CBILCOTF, ATTORUET AT Rensselaer, Ind] Attends to all business in,.the profession with promptness and dispatch. Office in second story of the Makeever building. Mrs. Emory’s “Seven Financial Conspiracies” should be read by every person in the United States. It gives a history of the legislation that has built the money power of America. Sent post paid to any address for 10 cents or three copies for 25 cents. Address this effice. Will Buy County Orders. Austin &, Co. will pay the highest price for county orders. If you want to cash them before the April installment of taxes give ns a call. 'Austin & Co. Creviston’s market is a desirable place to order, that Sunday wsp. ■ * • t* * •

®qt»l Suffrage to all Citizeos

New Meat Nlarke CREVISTOW BROS. Shop located opposite the public squa Everything fresh and clean. Fresh and s meats, game, poultry, etc. Please give uj call and wc will guarantee to give you sad 'action. Remember the place. High! market price paid for bides and tallow. ] \]\j\m feed and sale stab LlVLilli, M. L. SIIANABARGER, Prd First-class Rigs at Reasonab Prices. Special Attention givj to Transient Trade. Patronal Solicited. The Brick Bail Terms Cash. Rensselaer, Ip| J- W. HORTON, J I>KVr.4I, SURGEO RENSSELAER. IND. J All who would preserve their natural tel should give him a call. Special attentl given to filling teeth. Gass or vitalized J for painless extraction. Over Laßue Brol

H. L. BROWNT D ‘ D ' S l j,i lya—J till! Gold Filliiif/s, Crown and Britt Work. Teeth W ithout Plates a £j»J i:ilty. Gas or vililized air administered ihe painless extraction of teeth. Give ni rial. Officeovor Porter & Wish ard’s. | W.L.BpUCLAS $3 SHoE.ss.V3sa SAud other specialties fl intlemen, Ladles, 80l id Hisses are the Best in the World See descriptive advert la ent which appears la tn Take no Substitute. slat on having W. 1 DOUGLAS* SHOES with name and prlJ —imped on bottom. Sold q ELLIS & MURRAY. Closing Oul Sales.

5 gal. galvanized oil cans, fl I 'Meel spiders, ■ Forest Clipper buck saw, ■ Mrs. Potts’ irons, (nickel I plate) per set l fl B day clocks, | hr. strike, ■ 22 inch 3 ■ Nickel plated, copper tea I kettle 1 ■ Dried fruits and fine groceriH at bottom prices; also Dr. Darfi medicines, and barbed the right price. Closing pH sales on stoves. H C. E. I Horshmarl Call on Melvan Keuion at"sH rey for gas burnt tile. Any siH good quality and reasonabH