People's Pilot, Volume 5, Number 50, Rensselaer, Jasper County, 18 June 1896 — PLUTOCRATIC METHODS. [ARTICLE]

PLUTOCRATIC METHODS.

This one issued by an agent of London capitalists to New York capitalists in 1862; The IlazzariJ Circular. Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are in favor of, for slavery is but the owning of labor,and carries with it the care for laborers, while the European plan, led on by England, is for capital to control labor by controlling wages. This can be done by controlling the money. The great debt that capitalists will see to it is made out of the war, must be used as a measure to control the volume of money. To accomplish this bonds must be used as a banking basis. We are now waiting to get the Secretary of the Treasury to make this recommendation to Congress. It will net do to allow the greenback, as it is called, to circulate as money for any length of time, for we cannot control that. This one afterwards issued by New York bankers to the National Banks: The Bank Circular. Dear Sir: It ii? advisable to do all in your power to sustain such prominent daily and weekly newspapers, especial-ly-the agricultural and religious press, as will oppose the issuing of greenback paper money, and that you also will hold patronage or favor from all applicants who are willing to oppose the government issue of money. Let the government issue the coin and the banks issue the paper money of the country, for then we can better protect each other. To repeal the law creating the National Bank notes or to restore to circulation the government issue of money will be to provide the people with money, and will therefore seriously affect your individual profit as bankers and lenders. See your Congressman at once and engage him to support our interests that we may control legislation. This one issued March, 1893, by the Bankers’ Association to ail National Banks: Tlie Panic Bulletin, - Dear Sir: The interests of the National Bankers require immediate financial legislation by Cot gress. Silver, Silver Certificates and Treasury notes must be retired, and the National Bank notes upon a gold basis made the only money. This will require the authorization of from $500,000,000 to sl,000,000,000 of new bonds as a basis of circulation. You will at once retire one-third of your circulation and call in one-half of your loans. Be careful to make a money stringency felt among your patrons, especially among influential business men. Advocate an extra session of Congress for the repeal of the purchase clause of the Sherman law and act with the other banks of your city in securing a large petition to Congress for its unconditional repeal. Use personal influence with Congressmen and particularly let your wishes be known to your Senators. The future life of National banks as fixed and safe investments depends upon immediate action as there is an increasing sentiment in favor of government legal tender notes and silver coinage.