The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1870-02-11


national life has amused md deceiv-
cd the people with new oxpedients -
tempted their cupidity with new-fang-
led financial schemes; declaimed in
indefinite terms about liberty, equali-
ty, and universal brotherhood, and
suffrage, and being the friends OF the
lnboring man asserted in tho most
lprosurnptuous manner the extreme
friendship Of that party for the people;
while its acts, Legislative md other
wiso, arc tho very opposite Of the
aforesaid professions.
Pisistrntus preached liberty and
equality, was the friend of the poor,
denounced Solon and other patriots
and sages who werc in his way as the
enemies of tho people. In this way
he flattered their vanity, and they
therefore yielded TO him their creduh-
ty and thoir. country was subjugnted to
despotism. Julius Caesar and Robes
pierre and his Jacobin club, and Louis
Napoleon and the Radical party have
oil done the same thing. Our liberties
as citizens have been taken from us.---
But despite tho barefnced yillainy of
those stock-gamblers it may be truly
gaid that "knayea still proselyto fools, !"
and thieving politicians still have their
friends and apologists.
/ am in favor Of tho payments Of tho
back pay, bounty, commutation, prize
money, or whatever may be Justly due
TO the soldiers and sailors and others
who fought to put down the rebellion
in favor OF paying pensions to all en-
titled to the same, especially TO the
widows and orphans Of our deceased
soldiers.
But we are to have q funded debt
1t has been justly, truthfully said that
''of all tho schemes ever devised by
the pervcrso ingenuity of man for
mnking tho rich richer and the poor
| poorer, tho weak weaker and the
Istrong stronger, the funding system,
with its accessories, holds tho highest
rank" The enormous monopolies of
the country arc but accessories of the
bond system, and their power will be
diminished wien the bonds arc repu-
Aliated.
When William of Orange innugura-
ted tho funding system of England,
Doubleday says that tho yeomanry OF
England were n manly. sclf-rclinnt
and independent rnce of men; that
they mostly were tho owners of their
own cottages and gardens that every
man had constant employment ut good
wages. What are they now? Strip
ped Of their property, oil the land Of
Great Britain in the hands Of three
thousand men, the laboring masses
tho mere slaves and vassals OF the
moneycd oligarchy; and tho funding
system did it.
John Francis, in his Chronicles and
Characters of the Stock Exchange. says
that the moneyed interest was unknown
until 1902, and adds:
/ "Eat now The trcmenduons potency Of the mon.
otasy poser directs tho desiinics Of nations. We
behold In tangible form power terribly strong
that. With touch, IL can parslyze armies. We
behold power gradually weaving around us
net from which Il Is impossible TO escape. and
claiming with a storm accent which brooks no do
niai the right Of property in ourselves, coil
our earnings. our industry, aud our children. To
this moneycd influence we can trace most Of tbs
Ipoliiical changes which perpIcx mankind and
which seem % baifle explanation. Tho wisest o
our statesmen have tried 90 check itn advance and
failed 10 do go tho WORT Of them have encour.
aged its growth and declared II almost harmless
the most adroit have yielded 20 lie power and
made money by 80 doing. Interest after intcrcs,
has Como down in vain struggle to oppose II, yci
IL appetite is rs keen as ever.n
Il He says that the most colossal for
tunes and the most abject poverty OK
ist In England together. Doubleday
says that at the tiIno the funding sys-
tenn was innugurated the poor rates
were only f3O0. 900, while they orc
now ES, 900, 600. In tho mean time
!, tho population has trebled and the
poor rates have increased nearly thir.
{ lty-fold. 1t has been well said that the
Icontest between the people and the
funding system has apparently ended
III England, but it il in its incipiency
here. In this country the issue il
well defined; as I remarked in the
/, outset, it is subjugation of the people
by the moneyed power or the repudia.
{ ton of the bonded debt.
: Why does our Government refuse tc
take its own paper for customs while
: lit forces our citizens to take green
| hacks for notes payable by their terms
! in gold for gold borrowed or loaned
! 1t is claimed that the bondholdert
| must have gold interest because it il
SO agreed. Why not have the persor
, who deposits gold in banks receive
oIgold in payment when it is so agreed
!: The sales of gold by the United States
} Treasury is nothing less than repudia
{ ton. The Government promises
on greerback or logal-tender note
LIE you please, to pay the bearer fiv,
d dollars; it refuses to take that noto ii
rIpayment of custom duties. While j
has gold in tho Treasury it will not re
: deem its promise, its own paper, bu
= puts the gold in market, perhaps SO
cretly, ard shaves its own paper buy
Il it in at seventy cents or less whom j
promised one hundred cents.
oil Ii we ropudiate these iniquitou
r bonds, already over paid, refuse to pa.
!. them again, the credit of our Govern
3 ment will be much stronger, becaus
we will be out of debt; its notes vii
: assl "a par value and be receivable
n for import duties and everything els
: ! at their face. In place of paying gol,
d to tho rich and rags to the poor, as W
I now do, there will be ono kind of cur
{ rency for all, and gambling in Unite.
! States stocks will be at I'm end.
i There are few small bondholder
yIwho obtained their bonds honestly
t To such would say profit by the OK
Q ample set by the New Englanders i
3 regard To their slaves. They sold thei