People's Pilot, Volume 5, Number 18, Rensselaer, Jasper County, 24 October 1895 — TO CORNER GREENBACKS. [ARTICLE]

TO CORNER GREENBACKS.

Movement of the Bank* to Foree Retirement of Honest Money. Last week we noticed a statement in a Washington dispatch to the effect that a National bank of St. Louis has sent SIOO,OOO in gold to the treasury in exchange for greenbacks. Now at this writing the following appears In the Associated press dispatches: New York, Sept. 23.—Certain interests have made it their business to undertake a movement looking to the retirement of greenbacks. They do this on the principle that what is everybody’s business is nobody’s business, and unless some person makes a business of seeing that greenbacks are retired they will not be retired. One of the first steps in the movement is stated to be to corral them in sufficient amount so as to be able to turn them into the government at the right time without contracting the currency when it should not be contracted, and to contract it, perhaps, at the present time when it would do no harm. A study of clearing-house statements show that certain banks are already beginning to accumulate legal tenders. The banks of New York already hold about $87,006,000 of the greenbacks, which is a large proportion to start with. The treasury of the United States holds at about $30,000,000, which together is nearly one-third of the total amount issued. The otner two-thirds, about $229,000,000, are in circulation, mostly in small, denominations, which can easily be secured by the banks in due course of trade and to handle them easily after congress acts upon the matter. It is a fact that the greenbacks are slowly getting into fewer hands, and in this fact lie great possibilities for the immediate future. There is scarcely the shadow of a doubt that the money power demanded of Cleveland as the price of the presidency: First, the repeal of the Sherman law; second, the issue of half a million dollars gold bonds; third, the retirement of greenbacks. Cleveland has bent all his energies to the accomplishment of these objects. The first is accomplished; the bonds come slow, but they are coming, “Father Rothschild,” 300,000 more; and the out-going congrees will retire the greenbacks. Cleveland says the greenback must go; the republican party says the greenback must go; democracy says the greenback must go; and all these but echo the edict of the gold king. And the greenback will have to go. But it will return again minus tbe exception clause, and redeemable in something that old Shylock can’t corner. (Paste this in your hat). How will they be retired? Why, by act of Rothschild’s congress, and Rothschild’s banker-gang is now busy cornering them, so as to demand a premium on them, just as they did on the bonds that were called in some time ago. With $300,009,000 of greenbacks in their possession all calling for gold payment on their I.—uoo zb bz zb zbmhmh ment on demand, with, say, $50,000,000 of gold to redeem them with, the banker’s association could “turn them into the government at the right time” and have a dead sinch on this g-r-e-a-t republic for any purpose they chose. If they will only carry out this program, the populists will have a walkover at the next presidential election, provided tbe government lasts long enough fcr the people to go to the polls. —Chicago Express.