The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-07-12
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tial IA understand The history II iis
rtswth, thp vAteHt II ~ rtsilt~ stnt thr
tMNet II ran eaefssipe fes E.xsl NJ essl.
When thv Vniissl simtse t,usvsnmenl
~ss battling with rs,sls. ~h.n nnt vvsy
saisssn~v vas trembling On The ssvRr III
eshsnssrsl ,s,in. when banking tvsanrre
gave nat, ~hsn public ruha.lrhc. hatl
weakened ih,n snsrtssinn. and WHEN slssp.
lssiuR wnf Was demanding snillteha daily
IA rMAtMin usir nFmieN In ihr heli, there
~~m~l Int one tvsuat~ lett; \ was m
appeal Tor tinsnrinl NIL ~ slie rApitnlista
III thr nation. Capital, always srltlsh,
knew ,hr aitnation nnd crmpfvhrn,lesl
IA IMwrr. while The bold, manly and
gene rusis youth NJ The country we're rush.
Ing u lhW battle. iIctls, capital hid II.
ell lwhinh Tho Aelnehnr%e NJ human
rrs~sl III slirkrs and bargain Tor uAnfy
~ lhr price ~ yielding Ia onr ncccs.
sitirA iii this hour II national
combat Tho national banking syA-
tam hAA In birth Tho Government
wns forced into becoming the fa~n,ng.
lNrrOws slave ~ shr l.nslsr. Capital.
Then II Was TINT money dictated ~.
ten N mon. police, privileges and pruiita
such ~ 10 Shylock Ind ever before eon.
ceivetl.
Then, when |, hai fashioned In law,
when II ad consummntcd iss conditions,
and pAnoplied In nsnry into Congress
sional monopolics lender like, II yet
held back, creating suspicious, magnify.
ing the power of gold. anil Il, prseiAting
the national credit. I'LL II forced coin 10
more than double In value. Then,
United States bonds having been hxcd
N the baaia, and gold M the standard
ri their value. capital commenced "
purchase the honds. The blank bill
passed March ~. 1854. To get ut Just
what The bankers paid for their bonds,
We must establish the price III gold nj
the pcriMls when the Bonds were sold
by the Government and purchased by
the bankers. The price u gold from
April !. ltsf,, " January l. INA, varied
from i3O 10 lttO. averaging li5.
Daring this time 10 t,anAs we're ofesn.
Red, With : capital stock ~ ", is.,-
~. making pruns 10 the bsnhsfs
A.B&tsHHFHf
Prom jan. l, iH6t. |. Ian. /. l.a,. TN
6oMts werr osaAnlssd. With capital
~ eA6.fH2,w1. The average price ~
Noa ~as ~, mAAina prnns 70 Tue
S~a IN. ! i,ss, u isa /. isA, ~,
hsnba ~rys osHAnised. With cnptAl
~ tNG.lit ~. TAs price u Knid
averaged ~ ~, mshiba Aprnhs W
t,"n ~. 4 ,saa II J.n |. ,as1 II, 80
bsbks wsre or4anixei. With AsApissl
N e17siA iGy. The price NJ Kad
averaged Iil. Masking ! pi"ns n the
rmsn 40. /. ira1. III J.n, /. is'ushe
Increase ~ raiatal was sia aIA hsG,
currency ~As wafih ~ pf een,.
The banks iasds pfoii uf..t.4at44 auHtt tts.o
MAKING tM aggregate VI prt tiaa 1si. 1T ~
SLOWING the ahrolnlc profit made Oh
the investms III ~ have been more tllen
four times Tie capital / / the Bank u the
United btater, when II controlled the
kcnatc, Congress, and ihe money ri the
Union, snd more than al. ODO, Otll, more
than the entire capital of thc Bunk ii
England, which controls tho finances of
the British empire.
Not c0ntented with this enormous
bounty, The United bt.stcs WA forced ~
0pligate the people 10 exempt all III the
bonds from taxation and ~ pay interest
IN gold on the taco Of the bonds, name.
~ IN
tpi'ed MATES bends " seure eirenla-
United ..s.,. iana. 10 1ears dspe.l,. i. sss,es
tinted states t"hds Tor ressr,e......4 N.bl1.nsg
Total .t4ss. Nj. TN
This represents tlle honda held by thc
banks In 1871, and the amount does not
materially vary. Assuming ibe interest
~ have been + per cont. In gold, and
tho average premium from isBl 10 1874
~ gold W have been 10 per cent tlle IN.
trrat would equal y per cent. lii cur.
rshcy 0r III annual sum III iJ;Iv. I3f. fttO. ~
M yearly bounty, which, taking Thu
iourh IN years the banks have hrcn In
operation, foots np - The sum ~ ebl7,.
sDD, At1. III, which, added ~ tho profit on
tlic bonds, 4IG7. 1870, TT -. make m NJ.
grcgxtc " profits u e7l5,2lG. TN. ~.
TlIcsc ngnrcs, enormous ~ they are, arc
Int the simple commentators III the most
gigantic .windlc that ever WINS imposed
nl,0n rivil.s.d people. II orr Ii moth.
ing III tile history u TIM world 10 rom-
pare with u IN cnormity, and every
dOIlnr VI N hHs BEEN sfDleu .fr1m Tnk
rASsD and patient people ~ BE- Di,vn ~
nc MHfAtxn MUnHJ,gifzfs.
isnt, Thus far, ! have only reached The
cornerstone III the temple NJ thu bankcr.'
privileges. Tho entire investment la the
purchase VI the eliO, JIG, DtO 0f United
States l,0uds fnr banking purtuses waA
hut eID7, hOb. 2yD. This represents the
sum In money invested M capital by tie
national banks. They thus started with Il
~ PR ~ nj. inyestment. The nextstep In
their monopoly WAS for The United
HlMteN ~ iFsur n tIicse banks sND per
cant. II national. bahk notes, representing
tho credit III the United Hlates, amount.
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