Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1873-10-23
Tue GRANGERs AND THE CRASH.

III IN, OF course. only prejudice IN favo
OF gamblers, cheats and confidence il
men Ike Jay Cooke & Co.. which impel
certain Eastern organs Of monopoly an,
Its handmaid, speculative swindling, q
say that ''the farmers movement in con.
neetion with the establishment Of grange
had had much to do in precipitating tbi.
crash" Blu; what if the allegation b,
true! What if instead of being mercl,
one Of the causes which have "precipita
ted a crash" that must, in the inevitable
nature Of things, have come sooner OF
later. the farmers efforts to restric. the
railroads in their exaetions' be the sol,
and only cause which las preeipitated the
crash 49,
Let US take this roaring bull BY the
horus. and not seek to dodge it by any
sort Of evasion. What is this crash
and its meaning? The London Time.
told the whole story when it said: 1T is
an effort of the fiscal system to get rid o!
its dishonest elements" 1t is, then. an
honest and earnest response of the fiscal
system to the farmers movement, which
is an effort of the political system, tha, in.
e!udes the fiscal sy stem, to get rid of its
dishonest element
The dishonest element in the fiscal sys-
tenn Is admirably represented by the Jay
Cooke sort OF inanciers. though the gem
esis OF tue dishonest element is found far
behind all such persons. in that financial
lie of the federal government which saws
that promise to pay dollar is itself a
dollar. And who are the Jay Cookies ?
Men whose business activities consist in
obtaining money under false pretences.
The Northern Pacific Railroad schemes
was only one in a thousand huge conf :
dence games TO enable swindlcrs TO get
something for nothing. The very same
organ Of monopoly and swindlng which
asserts that the farmers movement has
done much to precipitate the bursting of
the monstrous bubble of fraud aud d cep-
ton, confcsses the truth in words depre-
eating the "fever Of excessive speculation
which has given rise to so many vast aud
ruinous railway schemes. prof. ssct,ly un-
dertaken with the o.jec. OF developing the
resources Of the country, but really no
more than Ingenious devices for the accu-
mutation of enormous fortunes for their
projectors" such accumulation, it should
be added. to complete the truth, bcin,
wholly at the cost Of the labor indu try
of the country. The whole process con-
slsts in taking something from men who
have labored for i. and giving it to men
vino have rot earned it. ANY person
from the rural districts who, on a visit to
New York or Chicsgo, has been relieved
OF the contents of his pocket-took by a
sentecl appearing bu: vulgar. sw;nller
called n Confidence man has had an in
diTidual experience Of that mode Of de
veloping the resources of the country.
which the Jay Cooke con;ratcrni.y, aided
by the federal government, have been
practising upon the whole American pco-
pie ever since tue passage of that measure
of uuspcakablc scoundrelism--thc social
ed Legal Tender Act
The Northern Pacific Railroad was nro-
jectcd by ring Of confidence swindlers
Tor the purpose of swindling the people
out Of nearly 100, eco, 600 acres Of land
by building railroad Go be also owned
by the sw;ndlcrs) with money 10 b. earned
and paid by the people to Be thus swind-
led. The Union Pacific and Central Pa
clEc and Kansas Pacific. and the Lord
hardly knows how many other so-called
national highways had proved success
full swiudles of the same kind: the North
ern Pacific swindlcrs were encouraged by
the success of the kindred gangs. They
would build a railroad some 1000 miles
in length. through 'howlins wilder
ness where not in a half century could
n railroad be made to return a single
fir,h:ng on its cost; but they would de
velop the resources Of the country
which means that by persistent lying and
misrepresentation they would induce peo-
pie to 70 into that wilderness aud buy
back at Sc an acre the land which an in
corrup,ible Congress had voted to the
swini!crs FOR nothing (or for few shares
in the swindle judiciously placed where
they would do the most goOi) and give
them FIVE bushels Of wheat Cor Carrying one
bushel over their road. and TINS pay the
whole cost of the road ou, of the earnings
Of their dupcs. the people, and take their
places among the grandtst money nabobs
OF earth, own government and be regard
cd as public bcnefactcrs To carry out
this s,upendous confidence swinile the
confidence men got charter authorizing
4 capital Of Sl00. 200, 900, but requiring
only S2,00t.0 goo to be subscribed, and
only ten per cent. Of that amount to be
actually paid in. maxim. an actual availa-
BILE capital of only s2o0, ,0Oo-uot a fah
part Of the cost Of surveying the route
But unlimited power 20 issue bonds would
furnish the money. which the durcs who
were expected to pay Sc an acre for the
wilderness and five bushels Of wheat for
carrying one bushel TO market would nav,
principal aud Interest. ou, of the products
of their labor. So these pattern Tigg Mon
,asucs proceeded to shove their bonds on
every money market in Christendom where
they could hope to dnd a man with more
money than mother wit. Their course of
procedure was characteristic Of the men
and the fraudulen, scheme. l, was expe-
eialiy in religious publications tha. their
lying advertisements were to be seen. /,
was under the seeming patronage Of
Young Mems Christian Associations tha,
these shsrpers piously recommended North
ern Pacific bonds 20 their customers .s
better than government securities = Pets
Of the federal Treasury Department. with