The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1875-09-02
KELLr,s INrEaLocrros.


The bnudholders' organs have recited
with exquisite satisfaction incidents of an
interview between Hon. w. ID. Kelly and
an Ohio gentleman who asked Kelly, ''How
are you going to get money into peoples
pockets who have nothing to give for it. :
The story goes that Kelly was nonplussed,
and the hard money organs are pleased TO
laud extravagantly the genus of Kelly's
questioner. Ii we return at once to hard
money, as we have done very nearly, the
bondholders being enabled, by using bonds
as collaterals, to monopolize the use OF the
great volume of the currency, the standard
of values will be gold, and property will
shrink in moneyed value, and less and less
money will buy more and more property,
and the enormously rich bond monopolists
will own not only the public debt, but the
whole property Of the whole country. The
man who owes 800 to day would be com
PEELED to pay it in gold, which would cost
$115, and all that the debtor loses would be
absorbed by the bondholder. On these
terms the bondholders and creditors of the
whole country would compel the settlement
of all debts, all having been created paya-
ble in paper. Kelly's interrogation sought
to know chow are you going to get money
into peoples pockets?" That is not the is
sue. Why did he not tell 'Aoso" the bond
holders are going to get all the money out
of the peoples pockets?' 1t is the creditor
class changing the mode of paying debts
due or to become due. The bondholders
and creditors would compel us to pay
everything in gold. Of course property
would decline in value. In fact, it will be
forced under the hammer, and bankrupt
cies, begun in the failure of Duncan, Sher-
man & Co. and of the Gold Bank of Cali
fornia, will overspresd the land, and the
poor will be made poorer and the rich
richer, and while Grant wears the crown of
empire the bondholders and creditors be-
come the gilded nobility of the age and
country, and these remote states petty, i'm
poverished provinces, only having that au-
tonomy by which they may be designated
as tax -plundered provinces of the empire
The insatiate rascals have steadily bought
up ard accumulated in New York all the
gold and silver of the United States. Texas
and California have been denuded. Even
the Federal government, Grant being a
mere instrument of the bondholders, by
making duties payable in gold, has cooper
ated with the bondholders to lessen the
value of paper money and augment the rel
ative value of specie. This accomplished,
they would compel all payments to be made
in gold, and they holding all the
gold, we must surrender labor and prop
erty In order to get gold on terms
fixed by the monopolists of gold. Is
it not plain that the holders OF
bonds and of gold intend to seize
the whole property Of the country, even as
enormously rich men of old Rome trans
formed the republic. into the empire. They
wanted a strong, stable government, and
popular liberty was sacrificed on the altar
of mammon. The very same results are
nov contemplated by the very same class
of men who propose to monopolize the
whole wealth of the country first, and then,
in order to make their property rights Sc
cure, they will make one man the country:
supreme master, and that master their pup
pet. Kelley's interrogator could only see
one side of the question. He was not ot
the people. He was a bondholder. HI
asked, "How are you going to put money
inty peoples pockets who have naught tc
give for it z" He should have asked,
"WbY are not the enormously rich content
to suffer the toiling millions of the countr,
to pay their debts with paper money, anc
why are not the rich willing to suffer thu
poor to have the little that is left them p
But if we compel the conversion of bonds
by reducing interest rates, into currency, O.
otherwise augment the volume of Fed
eral currency, these bonds and gold anc
enormous wealth, coined, as we have stated
of the tears and blood of myriads of ou
countrymen, will be no longer boarded il
New York. The monopolists of moneyeC
wealth will seek for it profitable modes o
investment. Railways will be built, har
bors opened, fields titled, factories anC
ships built, and the prosperity of the who'll
country will be unparalleled.