National Republican., 1878-01-14
Money IL Power.


aud vigor of the maxim has never before
been pressed upon the public mind as 1t is
now, and will be, no doubt, in the future OF
oar country. The power and influence OF
individual wealth within certain circles and
limits of business and society life have al
ways been felt and recognized under cir.
cumstanccs of mutual respect, and without
antagonisms or dangers. Wealth placed in
the possession of just hearts and generous
hands is a blessing in any community.
The poor share its bcncfcencc and are CRATE
iul. Those in moderate circumstances re-
spect il for its just and bcncfcent aids and
mnistations; while he alone who is an
ambitious competitor for the " lions share
of this earths goods Is unhappy in its pres
ence in other hands than his own.
1t is not our purpose, however, now to
speak of the power of money concentrated
within the circle of individual wealth, as
when it is aggregated in what is known rs
money centrcs,' represented by banks or
firms or both, wherein is sublmated the
lust Of gold. For the first time in the his
tory of this country the money power is now
arnying itself openly against the interests
and wishes of the people. For years the
tendency of things has been to concentrate
power in the national banks, but so gradual
has the process been that it has excited lit
tie or no attention. 1t was through the in
ilucncc Of these institutions that silver was
dcmonetized and gold was appreciated.
They had possessed themselves Of large
amounts of gold bearing bonds, which were
deposited in the vaults of the National
Treasury, and for which they had received
ninety per cent. in currency for circulation,
and on which they have been receiving in
tercst in gold above par value. Thus
strongly intrenchcd, with double interest
rolling in from the circulation and the
| gold coupons, those who control the money
centres of the country began to assume that
they were monnrchs of all they surveyed,
and no innovation upon the existing con-
dition of things could possibly be tolerated.
What, if under the iron rule of the money
centres, business should lunguish and pri-
vatc enterprise suffer, the banks appear to
have no sympathy except for their pound Oi
flesh That has been demanded, and no
matter at what sacrifice. has been attained,
while poverty has settled with its dark
mold upon the general business interests
Of the country. The issue is now, for the
first time in the history Of this nation, made
directly between the people and the money
power. From the depths of their poverty
and distress they call for relief They have
appealed TO Congress for succor through &
as they firmly and candidly believe, lift th'
heel of oppression from their own burdenet
and suffering necks. How has this appea
been met by the money kings? Not will
f sympathy, but with contumely and scOn
, Those who ask for silver relief are denouncct
US repudiators-as despolers of the public
faith and credit, and as men of imprope
and dishonest purposes, who must b.
{ crushed into the earth, if needs be, to secur
to the money power its pound of flesh.
2 Meetings are being held in the money cen
$ tres by bankers and money-lenders an,
$ spcCulators to dcnounce measure of mucl
t needed and certain relief The metropoli
Y tan press sounds an alarm to arouse all III
n avaricc and all the prejudice available t
r, defeat the popular wish. The bankers ar
;. openly appealed TO for corruption funt
r. with which the itching palms Of mel
: chamtable Senators may be gratiicd. Th
q President is boldly and shamelcssly ai
n viscd to usa the public patronage
/ purchasing votes TO secure the deiei
Is of this appeal of the people for suCcor
Il their dire extremity, and in this mann,
= the money powerof the country openly an
N deliantly arrays itself against the pOpuli
l. welfare.
> In this first attempt TO crush the busine
II interests of the country and the poor an
- laboripC classes into the vale of hOpele
'' poverty, the money power may, by CORFU
agencies, succeed, but ifthey do, woe TO Il
L country and to the money power will iney
Il tubly follow. Public patience has bOn
. about all it can stand. Forced idleness an
- stern want bordering on suffering hold Il
> masses of the people in the iron grasp
! = the money oligarchy. They feel the degr
daton and intense misery of their situatio
With hungcrand starvation staring them
Y the face with the cold pinching and will
i out employment and its rewards to furnis
Is fuel, raimcnt, or even food, how loI
10 will the masses of tho America
If people stand still and freeze and starye
W the midst of plenty? Those who fan'
N that the screws can be safely turned upC
" them once more in this crisis, counsel the
d own heartless avarice more than they do Il
A more ennobling sensibilities of civiliz'
w humanity in their determinations. III
,e people have not yet reached that point
te desperation where self-preservation Il
of been appealed to as the first law of the
lie existence, but they are fast approaching
v and its coming will be precipitated by
of denial of relief by the law-making pOw'
Il. Such calamities should he averted, as thu
to can be, by wise and just legislation. But
n. they are not, lcf the responsibilities al
he consequences rest where they belong.
al the American people ever rise and ia
he their destiny into their own hands, it W
H. be when the heel of the money power Il
d oppressed them beyond human endurar
f. and they are forced to make struggle
d. bread and existence.