The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1878-10-03
VOL. VII.
BEWARE OF BUELL. AND THE
BANKS.

The 2300 national banks have a
fixed capital of $500, OOO, 900, and con-
trolling stockholders and depositors to
the amount of 81, 500, 600. 900, WELD a
capital of $4,000, 900, 900. Private
bankers are often mere subsidiary
shaving shops for national banks, and
the wealth and influence of these
should be estimated when we would
measure the colossal power of the
national banking system. The stock
holders in these institutions are every
where potent integers of society, and
in the presence of these simple facts
we may measure, with q share OF ac-
curacy, the terrible power now COM
pactly organized, which does not
propose to release the government from
its grasp. The law creating these
banks was wrested from Congress in
1868, during the "darkest days of the
rebellion"-thus described by our
Northern felloR-countrymen. The
average gold value of Federal bonds
at that time was 145. One gold dollar
would buy $1.45 in United States pa
per. The bankers then took govern
ment bonds at this rate, and sixty
banks, by this simple operation of
buying depreciSted United States Sc
curities, made clear profit of So, 322,-
3ss. Sixty three banks organized
from January, 1865, to January, 1866,
with capital of about $s7, 900, 900,
VIXEN gold was at 210, made a profit
On bonds of nearly $4s, 600, 900, and |
all the banks have made a profit
on bonds they hold of $1G7, $685.
TI7.2O. This enormous profit was
a bounty given these bankers for
the countenancc and support they
gave the Union in its great peril.
L. is none of our business to re fleet that
the risk taken by these bankers signi
ted nothing compared with that In-
CURED voluntarily by penniless soldiers
who carried their lives willing sacri-
flee and proifered even this treasure of
measureless value to the sorely stricken
Union. The soldiers were thanked.
Words were cheap; but these Shylooks
were so enormously enriched that at
this moment it is believed that they
haYe hired Kearney to pave the way
for the empire while Grant Is kept in
training for absolutism among Euro
pean kings and emperors.
II there were no other reason for the
demolition of the banks than this dis
covered in the despotism they exert
in Washington and in State legislation,
as we have seen when they induced
Congress to dcmonetize silver and make
bonds payable in gold alone that were
payable in currency-if there were no
other reason than this for their exhr
patton the people should demand it.
Popular freedom cannot coexist with
the absolutism of these banks. And
yet, when the people send to Washing
ton three hundred lawgivers pledged
to destroy the hanks, there is great
danger that the banks with Sc, 00O,-
O00, 900 of money will shape at will the
action of Congress.
One Buell., of New York oitJ, Gun
any sum of money he re-
qulres to execute the purposes of the
banks. Congress, in his gilded pres
ence, we greatly fear, will be as clay
in the potter's hands. The banks are
not at all alarmed. Fiat money idiots
and the ranting Kearney do their bid
ding and Grant, in silence, awaits the
outbreak OF revolutionary forces which ,
leads and consolidates in be-
half of Ben Butler to interpose with
the bayonet. Either this, or If Com ,
and tramps and revolutionists
become dangerous, the President will
make var upon Mexico, The banks
Will supply money to hire soldiers, and
Kearney's and Buffers and Pomeroy's
roaring, bowling followers, captured
with gold and greenbacks, sup
piled by the banks, will become
As an army the very agents which
Grant or Sherman would WELD in sub
the empire for the republic.
People little think how terrible and
dangerous is this silent, self reliant
force Of invisible gold confessedly com
pacted In the hands of Buell.. There
fore the sublime folly of this idle
diversion Of popular forces in behalf of
dat money. The whole strength of the
whole people and perhaps even more
will be required to thrust this frightful
Did man of the sea from the 3houlders
Of the government. Buell. is a very
devil fish with $500 tentacula grasping
every seat OF commerce and intelli-
1ence and every strong party-leader.