People's Pilot, Volume 5, Number 40, Rensselaer, Jasper County, 9 April 1896 — Page 4

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Tj<e People’s Pilot. BY F. D. CRAIG, (Lwmc.) fflrt PEIUSBIN6 00, Prtyrieta. BAtid H. Ybomam, President. Wm. Washburn, Vice President. Lrat E. Glaxxbbook. Sec'y. J. A. McFarland Treas. Til Pboplb'b Pilot is the official organ of Ae Jasper and Newton County Alliances, and .•published every Thursday at ONE DOLLAR PER ANNUM ■ntered as second class matter at the post office in Rensselaer. Ind.

Benjamin Harrison, having smoothed out the family ruffles, was married Wednesday to Mrs. Dimmick at New York. The People’s party bases its existence on three principal demands, viz., reform of the laws of finance, of transportation and of land. The Maryland people’s party state convention will meet at Baltimore, April 16, to select delegates to the national convention. Expressions are generally favorable to deferring state and congressional nominations until after the the national convention. Ex-Gov. Pennoyer of Oregon, antiadministration democrat, has finally landed squarely in the people’s party, and on April 2, was nominated for mayor by the populists of Portland. The executive committee of the nineteenth congressional district of Illinois met at Marshall March 31. A. J. Maxwell and H. M. Brooks were elected delegates to the national convention.

The silver party of Kansas has organized by electing a state committee and calling for a state convention to elect delegates to St. Louis. A. C. Shinnis. chairman, and Wm. P. Tomlinson secretary. From Oregon Chas. A. Fitch of the national committee writes: “The campaign is progressing splendidly. The Portland central committee has bought the People’s Party Post. Every paper is now in line for an honorable union at St. Louis.” Senator Elkins of Virginia has giver it out cold and flat that the states west of the Mississippi must choose between republicanism and populism. He says: “Win or lose the republican party must stand for sound financial legislation.” George Wilson, of Lexington, Mo., author of the Financial Philosophy, or the Principles of the Science of Money, reports many items of interest gathered among populists in the east where he has been spending some time studying and observing the political and financial situation. It is proposed in a bill now pending in congress to buy in all the outstanding bonds of the United States at TWICE THEIR MARKET VALUE. Read the bill, printed in full in this issue. If it should become a law those bonds would be immensely choice securities and their market value would go kighting.

We are under obligations to a banker acquaintance for a ciraular letter, printed upon the stationery of the Committee on Banking and Currency of the House of Representatives, and signed (by Charles N. Fowler, Republican representative from New Jersey, relative to a proposed ;new banking law published elsewhere in this paper:. This letter has undoubtedly been addressed to all bankers, and it urges them, after reciting the great advantages chat will accrue to them through the adoption of the bill, to communicate with the author of the bill before the first of April. This proposed new law is in harmony with the financial policy of the Republican party and the present Democratic administration. It is destined to become a law in the near future, even though it fails in this session, unless the people repudiate it at the polls. It is the English system, doubly Anglicized.

The action of the republican majority in the present congress in refusing to pass the ’ free coinage substitute, submitted by the senate, is disgusting the free silver voters throughout tne country. In South Dakota the Pettigrew men in the republican party are feeling sore over their defeat and the failure of their party to enact any favorable railroad legislation, makes the success of the populists this year not only possible, but probable. The populist state committee of Missouri has been called to meet at Marshall, on April 24, to fix date, place and basis of representation for the state convention. The people’s party press association will also meet at the same time and place. New Hampshire has selected delegates to the national convention. but nominations for state and congressional posi tions will be deferred until after the national convention. Prohibition will be the leading issue in New Hampshire this year. Just how it will affect the people’s party, cannot be known.

The Oregon state convention met March 26. A telegram from Gen. Weaver dated March 27. says: “The Oregon delegates. are instructed to do all in their power to secure a union with silver forces on a common ticket. The national committee fully indorsed Jno. C. Young, state chairman. Martin Quin and Vanderburg, nominees for congress, will be elected.” Gen. Weaver will remain in the northwest until April 15. We note the election of the following delegates to the national convention: From the seventh congressional district of Indiana, Leroy Templeton and Sylvester Fisher. From the twelfth district, W. T. C. Francis and H. H. Haines. From the sixteenth congressional district of Ohio, J. W. Warner and J. W. Swindler, instructed for John Seitz and Hugo Preyer as delegates at large. From Pennsylvania, the delegates at large are R. A. Thompson, John H. Stevens, George W. Dawson, Jerome B. Aiken, and C. F. Taylor.

The People’s Party Club of Oshkosh, Wis., after reaffirming our declarations for financial reform, adopted the following resolutions: “The railroads of the country having reached a period in their history when it is possible for them to assume the role of dictator instead of continuing rendering service as public servants, should be placed under a system of rigid control. We favor government ownership of these public highways, and as a method of education upon this subject, that it may be made plain that public control is possible and practicable, we demand that the government foreclose the mortgage held by it against, the Union Pacific Railroad, and that the same shall be conducted as a public enterprise in the interests of the people.”

Some of the Texas populist papers declare that Texas is the only state which holds its state convention after the national convention. This is not true. All the states, so far as heard from, except Oregon, Louisiana, Arkansas, Alabama and South Dakota, have postponed their nominating conventions until after the national convention. Also, all congressional nominating conventions, with the exception of four or five, have been postponed until after the national convention, and two of those which have nominated regret this now. as they see that it would be more expedient if they would have postponed their nominating convention until after July 22.

A number of populist papers have stated that the silver convention to be held at St. Louis. July 22, would have 2,600 delegates. while the people’s party convention would only have 1,300 delegates, and that there was a movement on foot to consolidate the two conventions so that the silver party would have two votes where the people’s payty would have only one. There is not a word of truth in the statements. I’he people’s party national convention will

THEP£OPLI?S PILOT, RENSSELAER. IND.. THURSDAY aPEJL t, ’

be composed of about thirteen hundred and ninety delegates, and the sllvei’ convention of about thirteen hundred and ten delegates. No one has never as much as suggested that the two conventions would combine in one, to make a platform, ©r nominate candidates.

No Fair Dealing Expected.

Senator Tillman, whom all the anti-gold-bug public are so eager to hear, has been expressing himself in a South Carolina paper as follows: “The differences in the democratic party are as irreconcilable now as they were in 1860. The struggle then was the extension of slavery in the territories. Now the issue is, whether money, or the people, shall rule. As I see it, the convention is bound to split again when it meets. No fair dealing can be expected from the men who foisted on us the silver plank in the last national plat iorm. No fair dealing can be expected from the men who defeated Hardin in Kentucky last fall and have just prevented the election of Blackburn. Any straddle will cause the populists and silver men to sweep the south and west, and the democratic party will be only a name and become a third party.

Favors Late Conventions.

Maj. Page of Virginia, national president of the Farmer’s Alliance, and member from that state of the people’s party national committee, writes: “I am decidedly of the opinion that the people’s party should not hold their district conventions to nominate congressmen, nor should an electoral ticket be put in the field until after the national conventions held in July at St. Louis, and the actions of the silver republicans and democrats have been ascertained as to the formation of a joint ticket for president and vice-president. By this delay the claims of the people’s party can bp presented to the voters much more successfully, as we will be able to show that we are actuated solely with a view to the interest of the people and the prosperity of the country. We should see to it that the financial question is kept prominently before the people in the coming campaign, for unless we. achieve victory in the line of our financial demands it will be impossible for us to gain any substantial advantage. So anxious am I to see this great and productive country regain its prosperity and independence, that we, as true American citizens and faithful representatives of the people, should not allow party to .dictate or bind us, when by a united effort on the part of all true lovers of our country and its cause, we can win a substantial victory and free ourselves from the dominating influence and control of English and European financiers.”

Attention Indiana Populists.

To the Voters of the People’s Party: By direction, and under the authority of the state central committee of the People’s party of Indiana, a state convention will be held at Indianapolis, commencing on Tuesday, the 28th day of July, 1896, for the purpose of nominating candidates for the several state offices, and the selection of presidential electors at large, for the approaching campaign. The basis of representation for delegates to said convention has been fixed by the state committee as follows: One delegate for each township in the state and an additional delegate for every one hundred votes and such major fraction thereof, cast for Dr. C. A. Robinson for secretary of state in 1894. It is recommended that such delegates be selected at county, rather than township conventions. The time and place for holding county conventions for the selection of the delegates herein provided for is left to the discretion of the several county committees. All persons who are dissatisfied with the servility and corruption of the two old parties are cordially invited to participate with the Peoples party in such in support of the candidates to be nominated at our state, district and other conventions. We welcome all persons who believe that the interests of the people are above and beyond party lines, and who are unwilling to wear party labels when such party has abandoned the principles which were the original basis of its birth and formation. N. T. Butts, Chairman. S. M. Shepard, Sec’y

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to ten per centum of said deposits, upon which, said corporation shall pay to the GovernmenfTn like manner four per centum. (d) Said bank may issue a fifth amount equal to ten per centum of said deposits, upon which said corporation shall pay to the Government in like manner six per centum; but in no event shall the entire issue at any one time outstanding ever exceed the paid-up capital and surplus of said corporation. Sec. 7. Thatall the taxes so paid to the Government upon said United States national bank notes shall be set aside and held by the Government as a guarantee fund exclusively for the redemption: First, of the United States Government bond notes; second, for the United States national-bank notes, in the event of the liquidation of any bank organized under this law: Provided, however, That whenever said “guarantee fund shall exceed five per centum of both the United States Government bond notes and the United States national bank notes, such excess snail belong to the United States Government and may be used by it to defray its general expenses. Sec. 8. That the board of finance shall divide the United States into clearing-house or reservecity districts, and each corporation shall belong distinctively to some one district, and the number of such district shall be plainly and prominently printed upon the said United States nation-al-bank notes issued by the banks located therein. The several banks of each district, upon receiving United States national bank notes belonging to any other district, shall forward the same to a reserve city, which shall return them to the district to which they belong. Sec. 9. That the United States national-bank notes shall be a legal tender at par between all national banks' and the same shall be redeemed upon presentation at the bank of issue in full legal-tender money of the United States, gold, silver, or United States Government bond notes: Provided, however, That no more than forty per centum thereof shall be receivable in silver coin. Sec. 10. That banks may be organized under this Act with acapital of twenty thousand dollars or any greater amount; but no bank shall be organized in any reserve city with a less capital than one hundred thousand dollars. Sec. 11. That all banks organized and doing business under this Act outside of the reserve cities shall keep as a reserve fifteen per centum of its deposits, and sixty per centum of said reserve shall be in gold coin, and forty per centum may be in silvercoin: Provided, however, That in lieu of one-half of such coin reserve, cash on deposit in reserve cities or United States Government bond notes other than its own mav be held.

Sec. 12. That each bank organized under this Act and doing business outside of a clearinghouse city shall select some national bank in the clearing-house city of its own district through which it shall redeem its United States nationalbank notes in full legal-tender money of the United States, if said United States nationalbank notes are presented for redemption. Sec. 13. That the United States Government shall not pay out or reissue any United States legal-tender notes from and after the first day of January eighteen hundred and ninety-seven; but the same, when received, shall be canceled and destroyed; and further, that the United States Government' shall not pay out or reissue any United States Treasury notes or silver certificates from and after the first day of July, eighteen hundred and ninety-seven, but the same shall be canceled and destroyed; and the United Statesman put out an amount of silver coin equal to the Treasury notes and silver certificates so destroyed. Sec 14. That in the event of the liquidation of any national bank organized under this Act, the United States Government shall undertake as trustee, but shall not be responsible for the redemption of the outstanding notes; and the assets of said bank, including the assessment upon the sharenolders, shall be distributed in the following order: First. Sufficient gold coin,or its equivalent, shall be set aside and held by the Government for the redemption of the United States Government bond notes. Second. Sufficient full legal-tender money of the United States shall be set aside and held by the Government for the redemption of the United States national-bank notes, with interest thereon at the rate of six per centum per annum, from the date of the suspension to the date fixed for the redemption thereof. Third. - The assets remaining shall be distributed among the depositors and others having claims in the same manner as now provided by law. Sec. That all acts er parts of acts inconsistent with the foregoing shall be. and the same are hereby, repealed. There is not a proposition in all the above complicated instrument that is not in direct conflict with the traditional policy of this government. It is thoroughly undemocratic and dangerous to the liberties of the people. ■ The creation of a commission of high salaried appointees to supervise the most important department of the government, the finances,

render t£e people powerless Ip change a bad iyrtem fexcdpt greatest (fibcptoy. All writers on pblitical 4con6my brae tße’-degree of prosperity of a country on the wisdom shown in the administration of its finances. The most important function of a government is to absolutely control the money of the country. “Congress shall have the sole power to coin money and regulate the value thereof.” This bill proposes to delegate to private banks the sole power to issue paper money, which must, as at present, continue to be the principal currency of the country. It will be noted that these commissioners are appointed for terms of eight years. Practically, this bill proposes to pay the holders of all the government bonds now outstanding or that may hereafter be issued TWICE THEIR Market value. This statement seems incredulous, but the full text of the bill is given above and all the doubter has to do is to read over carefully to find this statement verified. Take a SIOOO bond that is at 20 per cent premium, and it is worth on the market $1,200. This bill authorizes the United States government to take up that bond and give the holder a new bond of the face value of $1230 bearing 2 pei cent interest and also issue to the same bond holder SI2OO (less 5 per cent) of United States paper money, free of any interest whatever. In a nut shell the government is to pay its debt and still have the debt left and the interest upon it to pay every six months in advance. But the above is not all the favors that this fortunate bondholder is entitled to. He is a banker, of course, and though he may not have but $25,000 of these new bonds and the accompanying $25,000 paper money, the United States has so paternally placed in his .hands, he may have deposited in bank by his patrons many times that amount. Suppose the deposits amount to $250,000, which is but an ordinary amount, he is entitled to receive from the government $25,000 more of United States money, this without security but at a tax of one-half of one per cent per annum; also $25,000 at one per cent tax; $25,000 at 2 per cent tax; $25,000 at 4 per cent tax; $25,000 at 6 per cent tax; all without security. Space limits further expose of this neat little piece of proposed class legislation. How do you like this much of it.

A Curious Prophecy.

Over forty years ago an old German hermit published in a Bavarian paper a curious prophecy- In it he foretold the Austro-Russian and Franco-Russian wars, the death of Pope Pius, and the Turko-Russian debate at arms. He said that Germany would have three emperors in one year, before the end of the century, and indicated two deaths of the United States presidents by assassination. All these things have come to pass. In the same article he that when the twentieth century opens great seismic disturbances will take place, which will cause the submersion of New York city, and the western half of the city of Havana, Cuba, is to break in two, while F.orida and Lower California are to suffer total extinction. The shock of these earthquakes will raze buildings to the ground in almost every city on the continent; millions of lives and billions of dollars worth of property will be lost; there is to change in the economic conditions of almost every civilized nation. He foretells the growth of a democratic spirit in England, which will result in a revolution that will overthrow the present form of government and make the country a republic. He says the last rule of England will be the best the country ever had, and the first president of the new republic will be one of the royal family. Queen Victoria is by all odds the best ruler England has ever had, and in a recent speech the Prince of Wales said it is his desire to live to see England a republic. According to the hermit, Russia, France, and Italy, will form an alliance and will enter into war with Turkey. This war is to be the outgrowth of Turkish persecution of Christian subjects. This triple alliance will conquer the domain of the “Sick-man of-the-East.” At the expiration of the war, complications will arise that will plunge Italy and France into war with Russia. The result will be that the two countries will be gobbled up by the Northern Power, and will cease to exist as independent nations, while war is being waged between them the Pope will move the seat of Catholicism from Rome to some town in southern Ireland. A rebellion will take place in the land of the shamrock in which the country will become independent of England.. Then a conflict will arise between the ultra-Catholics of the south of Ireland and the ultra-Protestants of the north, in which the southerners will be victors. A kingdom will be established, and it is predicted that the reign of the first potentate, will become historic for its tyranny. The prophet faints a dark future for the United States. He says at the close of the century a feeling of unrest will seize the peopleThis feeling will be the outgrowth of unequal social and economic conditions. He predicts that the twenty-fifth president will be the last executive head of the United States. During * his administration the discontentedness will break into open rebellion, and the established form of government will be rent hsunder, and for a year or more anarchy will prevail When order shall be brought out of chaos, six republics will be formed, with capitals at the following cities: San Francisco, Denver, New Orleans St. Louis, Washington, and Boston.—Orange News, Orange county, Cal. J