Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1877-06-28
Geo. w. Lee on Finance.
To the Editor of tbs Herald,


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Geo. w. Lee on Finance.
To the Editor of III, Herald.
You eaw fit to criticise my article
published in tho "Grant County
Argus" of Juno 49, headed CHESS
Gold interest Bearing Bonds and
More Green backs Wanted" branding
it, "Infation Decisions" seek no
personal controversary with the
HERALD, in that the public would
not be benefited or interested. With
your consent to the use Of your col
umes, | will answer your charges
The patriotism and valor of our
fathers achieved our Independence.
An Englishman remarked, "If the
States adopt our funding and Bank
ing system their boasted freedom
will prove bat phantom. We
have adopted the English scheme
and system Of Banking, and to-day
what do we see, but the mere phan.
tom Of liberty ? The Congressional
record OF April 8, 1872, page 2032,
we cite in evidence. Mr. Hooper, of
the committee Of coinage in his re-
port states /:
Earnest Floyd of London, a distinguished
writer and bullionist, who is now here, and
has given great attention to the subject OF
mint and coinage, after examining the first
draft of the bill, made various valuable sug-
gestions which the committee adopted, and
embodied in this bill"
Who did this man Floyd, of Lon
don represent? Let the following
from the Bankers Magazine Of
August 1873 answer. "SlVer being
Domonotized in France, England,
Germany and Holland a capital OF
So, 900, 900, and Earnest Floyd, of
London was sent to this country,
with this fund as the agent Of the
foreign bondholders and capitalists
to effect the same object, which
was successful" We know that at
the dead hours of night without dis
cussion, under the suspension of
rules this bill demoutiziDg silver,
was passed, which was net publicly
known until Congress adjourned-is
additional proof Of the corruption
and fraud. Again we see August
Belmont, of the Rothchilds agency,
commander Of the Democratic party,
who represents Rothchild's stock
ownership in the New York World
and Jay Gould owning the control
ing Influence in the New York Iri-
bune, leading republican Journal
defending the bill. Again an OBJ
scure banker form Fl. Wayne, Ind,
is elevated TO the financial position
of minister of tho Nation, from
which no rotires a wealthy London
Banker, to upheld this British
financial system. We see tho two
National Conventions packed to Sc
cure John Sherman, as Secretary
OF the Treasury. We have seen a
President after issuing patriotic
and States manlike message, sudden-
Iy change his views, and become the
sapient advocate of foreign capital
istsy and is now dining with
his royalty. We see the two
great political parties in America
stoop to uphold this British
financial system by setting aside
candidate having majority
Of 100000 surrender to commits
sion, land the Governors of two states
retired from Office, that John Sher-
man the father of the National Bank
act, the father of the resumption act,
the willing tool Of British inter-
ests, may be made tho Secretary of
Treasury. With this array of facts
before US, can there be any doubt as
to where we are drifting? We as
nation have reached an important
epoch in American history. The
time has arrived when the question
must be answered, "Have the peo-
pie that intelligence" which will en-
able them to protect their rights
and the government Are we SO
stepped in party prejudices as to be
blind to theonly hope of our nations
safety ? According to the public
statement of October 81, 1865, We
had outstanding bonds principal and
interest payable in corn $1,163, 769,-
els.
The report of Nay 81, 1877, shows
our bonded debt $1,692 964, $50 (;
showing an increase of our bonded
debt 10 IL years of 1929, 1876, 038. On
Oct. 81, 1865, the report shows a
circulation among the people in
greenbacks and treasury notes of ST.
GA, 799, 825. &C. On May 81, 1877,
S473, 602,072; showing contraction
of the peoples money in the II
wears of 81, III, III, 1853 sc. The case
summed up in 1865 Foreign iudebt-
edness and interest small the peo-
pie at work trade, commerce and
manufactures fonrthed. In 1877,
two millions of men out of employ
ment, trade, commerce and manu-
factories postrate, increasing foreign
debt, and interest accommodating, with
no prospect ahead but individual
bankruptcy. Ii these are "lnfatlon
Decisions they are official Republic
csn decisions.
Fair reados take tho treasury and
vaults of the National Banks re
CURED 70 be held by law. Deduct it
from the greenback National Bank,
including gold aud silver circulation,
May 81, 1877. Divide it by 10000