People's Pilot, Volume 5, Number 23, Rensselaer, Jasper County, 5 December 1895 — CAUSE OF PANICS. [ARTICLE]

CAUSE OF PANICS.

INDICATIONS THAT MYSTERY WILL SOON BE SOLVED. "■ ‘ " ; Men Begin to See the Triek the GoldBogs Are Playing to EatablUh the Gold Standard Despotism —It Is Played By Sbylocks. O The people of the United States have been greatly worried over the question, I "What is the cause of panics?” There j are as many theories and answers as there are points to the mariner’s compass. Just now the indications are that the mystery will soon be solved. Cleveland has got a pet called a “redenip- | tion,” or a “parity” fund. Some call it | the “sound money” fund. The "parity” level of this fund is $100,000,000 in gold. . Above that level, business swims; belpw that level, business sinks. If this fund gets below $100,000,000, business is “panicky.” Then Mr. J. Pierpont Morgan, a stock speculator, who isn’t quite ready for a panic until he unloads, comes to the rescue of the government, (?) that is to say, the Buzzards Bay administration.” or the “Gray Gables administration,” and the panic does not materialize. The gold bugs, In connection with Rothschilds, get hold of some greenbacks, buy a little gold, and the parity fund is leveled up, but Mr. Morgan, speaking for the syndicate, informs the country that his contract to stave off a panic has long since expired, and that what he does to run the government is prompted by patriotism. This being the case, the “redemption” or “parity” fund, is an “anti-panic” fund. Hence, all that is required to create a panic is to reduce the “anti-panic” fund below $100,000,000. Reports from London refer to this fund and predict a panic if it goes much below the $100,000,000 level, and all Europe is engaged in depleting the fund. Why? Because Europe, particularly England, wants our “Buzzards Bay administration” to Issue more gold bonds, and this will be done whenever Morgan, Rothschilds & Co. demand it. When the panic struck the country two years ago or more, our “Buzzards Bay administration” saw distinctly through his leather goggles that the cause of the panic was the outflow of gold, and as clearly, that this exportation of gold could be traced directly to the “Sherman law,” requiring the government to purchase a specified amount of silver bullion. Gold was going by millions, and the panic was increasing. While this storm of stupidity was rag- ; lng, and before the repeal of the Sherman law was accomplished, gold began to flow from Europe to the United States. This puzzled the “Buzzards Bay administration” and demonstrated that he was a better fisherman than financier; but he was destined to sink still lower in the list of financial nincompoops, for, after the repeal of the “Shqr- ! man law,” gold again began to flow to Europe in a steady and in a larger I stream than ever before, until, finally, ! no level-headed man has any confidence in the financial acumen of the “Buzzards Bay administration.” Now the “Buzzards Bay administration” has another fad, manufactured by Morgan, Rothschilds and the national banks, which is to retire the greenbacks | since it is held, if the greenbacks were , out of the way, there would be no dej mand for gold, and the “anti-panic-I parity fund” would remain intact. | But while this demand is being 1 mouthed by all the gold bugs, it so happens that the firm of Morgan & Co. take greenbacks and exchange them for gold, which they hand over to. the gov- ; ernment, to maintain the level of the | “parity fund” at $100,000,000, and this, according to reports, has been done seeral times within a short period, the result being that an escape from another j panic was owing, absolutely, to the use of greenbacks, hence it is seen that the greenbacks, instead of promoting panics, has been the acknowledged means of preventing them. The question has recently been asked; Why this ceaseless outflow of gold? and ! several gold-bug, high monkey-monks, including J. Pierpont Morgan, reply: The United States is in debt to Europe and gold goes forward to pay interest ’ and balances, and has no relation what-

ever to the “Sherman law,” nor now, to greenbacks. When the “Sherman law” was repealed, gold, as has been said, left the country in an ever increasing volume, and if in the interest of the national banks, greenbacks were destroyed not a dollar less, therefore, would be e^orted. i Men begin to see the trick the gold ! bugs are playing to establish irrevoca- | bly the gold standard despotism. It is played by Shylocks and has been splen- ! didly played by them, and our “Buzj zard’s Bay administration” is either in the deal or is such a confirmed nincom- | poop that he cannot see through the i jugglery. At any rate never before has ' the world been furnished with a more humiliating spectacle. Never before | was the United States so completely in : the hands of a gang of conscienceless boodlers, and while they are in power the people will never be ten days removed from a panic. If, therefore, the people will vote to ! retain either of the old parties in power, | when the panics come, as come they will, they will have only themselves to blame for they will have been the author of the country’s business calamities. —Railway Times. Spain taxes Cuba pretty hard but nothing to compare with the way the trusts and corporations tax the people in the United States. The man who thinks finds it necessary to face the contempt of the conventional world.