The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1874-07-10

pays directly into the bank :
aults 20 millions of gold dollars
as interest on the bonds
which secure the National bank
urrency. These National banks
re essentially one institution.
They work together as Il harmopi-
'us whole. 1t is not the interest of
me National bank to antagonist an
'ther National bank The law of
is the head with eyes
md brain. Ii has 800 arms or ten
acles, with mouths and suckers ex-
into every city and village.
The substance Of the people is
lrawn In silently but surely. The
money to pay the interest on the
bonds is raised by tariff duties.
These the people pay when they
purchase duty-payiDg articles; such
as hardware, dry goods and grOc-
cries. To meet these enhanced |
store bills money is raised by loans !
from the banks, at high rates of in
terest. This money is furnished by |
the government to the banks free
of charge. II is loaned to the peo- !
pie at from ten to twenty-five per
cent. secured by mortgages on real |
estate. These debts are hard to
pay when there is little money to
move products to market. The land
is forfeited; and thus surely but
swiftly this huge monster absorbs
and appropriates the substance of
the country. Such q course of
events, must in the end prove fatal
to our free institutions Already
q hn Oh khn
eclipse, and see the form of our de-
stroyer on the morning sky. We
feel the agony of the approach
ing ague stage, and shud-
der to witness the death of
American liberty by paralysis.
This vile system of finance has
been in existence but short time,
and vet for want of money the pric-
es OF all property suffer continual
diminution and shrinkage. Farm
ers find it impossible to pay their
debts except at ruinous sacrifices of
their lands and products. We
everywhere read OF labor strikes,
and see able bodied men hunting
work and finding little. Their
clothes are falling to rags and their
families growing hungry. Our
Well-to-dO middle class merchants,
mechanics and farmers, borne
down by taxation and unjust and
unnatural rates of interest, are fall
ing behind. Their stores, shops
and farms are sinking away from
them by sales at q sacrifice, tax
sales, foreclosures of mortgages
and by the sherifFs processes. The
national banking system of the
United States is q wasting .mildew
and q whitening blight!
Had l time l might illustrate
more fully the workings of this
financial system-might relate cases
now transporting in connection with
every legitimate business requiring
capital. Might show how the great
Bankers use the power of 400 mill.
ions of the peoples monev among
the railroads. How they control
the supply of coal and the price OF
iron. How they affect, with the
cramp and paralysis, all the nerves
of industry and every branch OF
business. They destroy competi.
ton by the mere touch of theiI
blighting fingers. Who among the
merchants in the city of New York
can compete with A. Il. Stewart, I'm.
| less they own bank and have
Uncle Sans money TO use for moth
ing? Merchants owning banks can
| pay cash; therefore they can out
| buy and also out sell those who dc
not. Manufacturers owning banks,
uniformly have the advantage OF
those who do not. This advantage
is used until competition ceGes
and then when bankers have mar
kets to themselves, margins and
profits are suddenly enlarged and
the country suffers. TO perpetuate
this state of things congressman are
bought at $4,000 per head and we
| find the most vile and corrupt
thieyes of the land buying theiI
| way into power, that they NAV
share the gold and do the bidding
of these proud American tyrants
| Again, the TGitTOdd companies OF
America are granted franchises and
! subsidies on routes that cannot sus-
tain or justify competition, by the
building and support of parallel
competing lines. There is little
restriction by law as 10 rates OF
travel and transportation. And
these companies enjoy and practice
as complete monopoly of the
trade and travel of the country as
it is possible for tyranny to devise
There is no practical restriction as
to the consolidation of different
lines and hence instead of compe-
tition and a reduction of rates, as
the people had a right to expect
from the multiplication of roads,
we have consolidation TO such a.,
extent that single man or corpor-
alton, controls most completely the
trade and travel of entire states.
And by system of combination
which these men will understand,
the entire commerce of the country
is in the hands of very few mo-
nopOlists, whose god is gold, and
whose business is gambling, whole
states being but miner cards on the
stupendous chessbOard. Congress
men are subordinate officers, draw
ing secOnd-rate pay in stocks and
smiles. Legislatures are their lack
eys, and the courts are filled with
their subsidized attorneys. States
in the north west have been at times
blockaded by extraordinarily imprac-
tical rates, until farm produce could
not be sent 10 market by either the
farmers or grain dealers. And
then when prices suited them at
both ends of the line, the railroad
companies themselves have turned
merchants. Iowa corn has been
bought by them at fifteen cents,
and shipped east At immense profit,
while il was utterly out of the
question for living man, not in the
ring, to enter the competition at
either the buying or selling end of
the route. In Illinois forty dollars
per car, per ten miles, has been
charged on freight for the avOwed
purpose of driving grain to Chica-
go instead of Toledo. Remon-
strances have been answered with
insult. When the legality of such
rates was questioned, it was replied
1--WE care not for law, but mean TO
charge what we damn please.
Those who do not like our rates
need not ship" And this was done
by a road more than built and
equipped by a grant of public
lands.
The managers of the Union Pa
cltic road have been persistently
charging double rates from Chey-
enne to Ogden, for the purpose Of
compelling the trade and travel of
the East and the West to pass
through Nebraska instead of Kan
sas. And it has been necessary to
secure special act of Congress in
order to force them to do Justice to
connecting roads, and to the states
through which they pass. Havem my
hearers ever devoted thought as
to what becomes of the money
which the producers and consumers
of the country wrongfully pay on
high railroad charges? When Tom
Scott or the great vanderbilt choos-
es to levy an additional 81 or So on