The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1878-10-24

glance Dy his garb, so you cannot mis-
take the political raiment of this kind
OF vagrant. He wears a badly used
Democratic hat,-a communist coat,
out at the elbows, -cast-off Republican
trousers, uncertain at the knee, and
independent shoes, through which his
toes protrude. He has neither shirt
nor stockings to hide his grimy politi-
cal skin. AS this costume is composed
OF the cast-off garments of all parties.
they call it a National Dress Just as
the tramp, who has sampled the jails
OF all countries calls himself a citizen
of the world. 4.e .. s~
/ do not think argument necessary
to induce the solid and conservative
farmers OF this county to set their dogs
on these political Migrants wherever
they loom up at the gate, for depend
upon it, they come to steal.
But hard times, and the general fer
mentation OF political matters, have
engendered another heresy which is de-
serving of different treatment; not be-
cause It's ideas are any better founded,
but because it is more plausible, and
it's adherents, in many cases, perfectly
honest in their belief.
This school, class or party, call them
selves Gneenbackers, and the specious
arguments of their leaders, have de-
celVed many who are honestly seeking
truth. They do not constitute party,
but are ala aggregation of very many
different elements; and there are of
them very many different shades, nice
ly graduated from the Republican creed
OF currency convertible into coin, to
the Fiat Insanity OF irredeemable trash.
In Kenasha County, as witness their
platform, they start out among other
things, with the assertion that their
friends the tramps are suffering star
walton by reason of"class legislation"in
favor OF the money power, (Which has
in "all ages been the foe of human lib
erty)' and which has changed curren-
cy bonds into "coin bonds, exempted
the bonds from taxation, contracted
the circulating medium" and other
like mlsstatement of the facts. They
then direct their engines against the
National Banks against the STRENGTH
ENING Act against the Resumption
Act, and in favor of the issue by the
Government Of the currency of the
country, and that this should be made
a legal tender. ............
Now here and everywhere, it is a
part OF their programme to mislead in
regard to the National Bank currency,
- to arouse hostility to those banks by
exciting prejudice against them, and to
gather into their motley army many
good Republicans by misstating the
law and the facts regarding them.
This is one of the main positions Of
these turbulent souls who would dis
turb the state, and their arguments
are, as | have said, specious and we'll
calculated to deceive The other is
sues touching The currency have been
and will be treated by others, and
desire, for a few minutes to direct your
attention to this one point.
The end and object of these phllan-
thropists, ii we may believe their
words, is to save to the Government
the interest on the 1922, 100000 of Ma
tlonal currency ahOat,-to take it away
from the banks, and eXterminate them
altogether. Many of their arguments
are directed against the banks, and do
not even tend in favor of this scheme.
But it is ever the aim of de,nagogues
to accomplish by arousing prejudice,
what they cannot achieve by logic.
Let us examine their positions, and [
desire to state them fairly and fully.
They say: 4.s...
First: The National Banks are mon
opolies.
Second: They yield no revenue to the
State or general Government.
Third: They get double interest.
Fourth: All National currency oes-
troyed is so much profit to the Banks.
Fifth: The Government can pay off
the bonds held by them, retire their
currency, issue Greenbacks in it's place,
and thus save revenue, double interest,
and destroy monopoly.
The first proposition is a deliberate
falsehood. Nothing is further from a
monopoly than a National Bank. A
monopoly consists in the 'sole right or
permission to deal the sole command
OF possession" 1t is privilege, ex-
tended by law, to one man Oh class to
the exclusion Of all others. TO see
how far from having any exclusive
right, these banks are, look at the law
creating them, for this is the only au-
thority. Sec. 5136 Rev. stats. Z. S.
(heing part Of the Banking Act,' y pro-
vides that any five persons may organ
ize National Bank. You have as
full privilege in that direction as you
have to organize a Town Insurance
Co., or form a partnership for trade.
Any five persons in the
United States can organize. and it is
just as much your right and mine, as
it is our right to hire a man to work /
for us. The monopoly exists In the
one case, as much as in the other. I'll
you hire man, you must pay him,
and if you organize bank, you must
pay in your money to secure the peo-
pie. Nor are the shareholders monop-
olists, bloated bondhclders,- 'the mon