The new Northwest. [volume] (Portland, Or.) 1871-1887, 1874-06-12

ment will iuaugurate a system which
will make no premium to those whose
business is to deal in money and usuIy,
and continue to prey upon the industries
of the people Wall street. ana tne
agents OF foreign capital which run the
Government, saw that attempts were 10
be made to induce Congress to inaugu-
rate measures looking to their reilei;
Straightway n hue-and-cry was raIseu
in favor of ''specie payment thIs IIse use
was shrewd to turn attention from lrOIIlt tne
real demand of the people. The monop-
olists never for moment eXpecleu vi
hOped for specie payment. Ihey Wen
knew that such thing was wholly I'M
possible. and it never was seriously
thought of: it was only sharp playing.
With a foreign debt aggregatlng Two
thousand five hundred millions Oh uoi-
lars, and only about one nuhuIeu MI
lions of gold to redeem wltnI tney PuI
this pretense forward as kind OF 'eoun-
, ter-irritant;" their real object was 10 Ge-
! feat us, and, so far as the lnlteu states
Senate is able, they have done 1t. Inc
present fraudulent system gave the
money-lenders all and more than all the
: people could earn, and they determined
(even in the face of starving millions
apd general ruin to have it continued
and it is continued and increased 10 en-
able them to keep on their same INA
: nous system through the sO-called na-
tioual banks; the proper name oi ~hlch
2 should be the mOnCpOlists' newly IN
vented fiscal agency for robbing the Peo-
1 pie of the United States, under the pre-
= tense that-it will relieve the West and
the South, while they G7lO0 1t cannot,
and that the benefits will only enure TO
the monOpolists here on the Seaooru
and their eOnfederates IN Europe.
) lists can also control the House oil KEEP
resentatives.
: The simple case, as we see it, is this:
! The United States have out 200 mill
T lions of paper promises III the form OF
r bonds which draw interest and these
/. promises are better to-day than gold
really worth more. The people ask that
4 these bonds-these 40 much slandered pa
e ner obligations, which rest only upon
! the faith and resources of the nation
r shall be converted into other and more
e convenient paper obligations of the
Y Government and be made legal tender
i foraIl purposes without bearing interest.
o And the way to make the conversion
: has been pointed out and adopted by
r the people in their financial system OF 3
j 2 Ga convertible bond. The people
e moan to have the currency of this cOun-
trv based Just as these United states
70 Bonds are to-day, viz; upon the faith
" and resources of the nation" but inter
,r leonvertable with certificates Of value,
= actual paper money which does not bear
t interest and when converted again at
l. the will of the holder into bonds shall
u hear such a rate of interest that it is no
longer an object to hoard and monopo-
re lie them as is the case under the pres
"a ent fraudulent system which has al
E. ready brought the country upon the
te borders of anarchy.
i'm England owes S3, 200, ,000,0 900, repre-
rs sented by cOnsuls corresponding to our
ty bonds. These are in substance a circu-
T. lating medium. 1t is double the debt OF
it the United States, and this large debt
u bears three per cent, and the holders OF
in these paper obligations of England have
st to pay on them an income tax. Why
- should the producers of this nation,
lis which has more solid real wealth than
IL England, pay ten to twenty per cent. for
is the use of money, while the industries
of England and other European states
to pay but three
nd From what We have seen for the past
lu- four months, and from what we see a.
he this dark hour, the monopoilsts VIII
TO keep up this war upon the industries Of
les the country. \ change will come; and
up when it does come, in anger and ven-
is geauce, the people will find way tC
ltd compel the mOnOpOlists to dlsgorgei
and the issue is now, thank Godi fairly
made and understood. The question
has been ventilated and its effects illus
l.. trated, and the people know now JUS
IL I,o where they stand and what they have to
ne M do.
iiiii, The only present hope for the people
~ the producing masses-is in the House
iS To this body the hirelings of monopoly
0 VI point in the press of this morning; t
e., this body the rings are now addressing
=, ne themselves in full confidence. AnC
a. what hope have we here? Butler, Field
~ and u few others, with the half-wa.
- plan of Kelley, point the way, and speal
re iI for the industries and producing classe
w W of the country; but with nearly, if no
"a, half of this House known to be directly
ne personally interested in the bank mo
80 nOpolies and the other han mostly law
~ yers, accustomed to work for fees, tn
~ prospect is remote indeed. Had we hop
iiJ iG Of anything from Grant, we might pra,
~ that he would veto any bill that looked
- to perpetuatiug or extending the infa
Ell nous National Bank robbery system
~ and thus force Congressman to hear tht
iIIo people or go back to them for new curses
onI But experience with Grant assures III
llu that he will be rs ready to sign tn
s Bankers Bill Of to-day as lie was in 1856
seS to convert debt payable in eurrenc!
GU into one payable in coin. Grant gOe
with the rich mOuupolists.
ue The farmers of the West and the Soutl
1s1 are thoroughly organized, and outside o
eu the corrupt Republican and Democratic
M parties, both of which are used by tn
iu monopolists. The other industria
classes are organizing on substantially
- the same as the Changers plan.
IA VA The Catholic Church understands th
~ secret of power. The working people o
W W America have discovered that an organ
'uS iZation not political, but which hold
III the people to q superior allegiance thar
ny to political parties, is the secret of thei
~ ~ power, and the work will go on. lie
- us be more than ever vigilant and see {
vi it that our enemies do not get into con
= troll by persuading us to make politica
q" party. Under no consideration must tn
working masses at present become po
ltical party There is only one way
s. let us keep on that way. The Knight
of the Golden Circle were not politica
party, but experience demonstrated thei
/. power. The Church is not pOiitica
gh party, but experience has demon
the strated the measure of power due to 1t
wisdom in this respect. The Kevolu
is tion is upon US; let US move rs one man
and make no mistake, nor be disturbed
to by the artful play Of our thoroughly
fiji drilled and interruptions adVersafles'
far HORACE H. DAY.
Ak
et-
co. ri, ,,.,,,,an's femperance movement