Rensselaer Union, Volume 8, Number 49, Rensselaer, Jasper County, 24 August 1876 — "Honest Money.” [ARTICLE]

"Honest Money.”

The term “ honest money” is frequently mouthed by the bold ana bond rings as the term applicable alone to gold, at the same time asserting that any other payment than a payment in gold isfdishonest. “ Honest money.” Y«*, that Is precisely what the people demand, who are demanding that the Government issue all the paper money that is needed, a full legaltender, directly from the Treasury, in exchange for and in payment of its own obligations, and not issue it at one per cent, interest to banking corporations wbo use it solely for private speculation, loaning it at high rates of interest Over their bank counter, thereby forcing the people (all of whom are compelled to have money before they can procure food and clothing) to pay an enormous price for the use of this mere tool of trade. These tithing shops gather in all the substance of the people, leaving file majority of them paupers. This is d»V fomest money: the Bhylock’s scheme of ruin to the masses. The pound of flesh and many drops of commercial Wood in addition are drawn. Hie idea of calling such scheme and such currency “ honest money” would only be thought of by those who “ steal the livery of Heaven to serve the devil in.” - Gold, indeed! They know there is not gold and silver enough when both are used to the utmost limit to transact one-half of one per cent, of the bnsiness of the world. That the other ninety-nine and one-half percent, must be transacted with paper in some form. Either Government credit in the shape of full legal-tender issue direct from the Treasury as above stated, which costs industry nothing, or Government credit loaned to hanking corporations at one per cent., which is made to cost industry from eighteen to sixty per cent., and then, on top of such bank currency, the private credit of the banks to ninety-five per cent, of the whole amount. The deceptive plea in clamoring for a “specie basis” is to let the money kings monopolize the paper issue, issue their promises to pay, and draw usury thereon. The “specie basis” advocates do not propose to let the people use gold and silver currency,, for they know it is impossible because of its scarcity, but by the deception thus practiced they will force the use of an exclusive bank note circulation, upon which they can obtain usury. They issue a promise to pay in the shape of a bank note. This is a debt the* ©we by which they draw interest to themselves, while business men who give their promisee to pay to the banks, in exchange for file bank notes, pay interest to the bank, Hie difference is, the bank dram interest upon what it owes, while the business man payt interest upon what he owes. It makes a material difference when the accounts are balanced at the end of the year. The business man finds himself many thousands ol dollars short of what he would have been if he hod not been forced to pay tire uaarv.— lndiarumlit Sun.