People's Pilot, Volume 5, Number 2, Rensselaer, Jasper County, 4 July 1895 — Misnomers. [ARTICLE]

Misnomers.

It has ever been the case that when the money power are preparing the way for a big steal they seek to deceive the people with the cry of “honest money” or “sound currency.” The fact that Instead of calling it “honest money” now they are using the “sound currency” is evidence that they realize that the forme? phrase has been ridiculed out of its usefulness. It can be truthfully stated that no banker in this country ever favored an “honest dollar” or “sound currency.” It was their influence in 1862 that affixed the exception clause on the greenback, which demonetized it so far as Interest on the bonds and payment of revenues were concerned, the very two things which were calculated to make it honest and sound. They Insisted that it might be good enough to pdy the men who were fighting for the life of the nation, but not for the men who were staying home and speculating off of the government’s necessities. In 1869 they secured the passage of an act making their bonds payable in a dollar twice as valuable as the one they gave for the bonds. In 1873, they secured the demonetization of silver, and now they want the power to issue their own notes for money to loan at a big rate of interest while they also draw interest on bonds on which this so-called money is said to be based. The kind of “sound currency” they are advocating is a fraud.