The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1879-09-17
57s,0ls IS
$500 %
Profits 60 ..-.....-.-.--..----- 57g.0lS IS | I
Circulation. --..--..---..--- $500 % +
Deposita individusls- 1852 AGO 25 /,
Deposits banks.-.~--sS ,pSi " ll,955y545 IL !
Due treasurer OF U, - lS,l09,U7l VI !

Circulation.----..-..---- $500 % |
Deposits, banks.-:~..-ss,4zs,pS 81 li,e55y54s Il
Due treasurer OF Z, y. lS,lO9,Ul "a |
Now, Ia not this a remarkable showinge A |
bank with on.y $500 COO capital to have deposits
by l the ne E ,, G9ssfnent 20 the amount
their credit &Iz9 .l62 40 OF Government bonds!
Now, gentlemen, DO you not understand this /
Sherman has turned over your bonds to tins |
bank-bonds which you are now paying In |
terest on, and will continue to do SO, the bank |
simply giving the Federal Government credit |
therefor. You get no interest on your credit, |
and If any interest comes from that source l
venture il goes into The pocket OF John Sher-
man, and not In yours. Gentlemen, no
credit should be given the National banks |
Instead OF their giving prosperity TO the coun-
try to
paid man-paid to attend to your business.
ask you ii he is not attending to the business
what have said as to the legislation of the
country. is there an honest man in Ohio-I
care not of what party-that will say the pros
perity O. the country is due in any degree to
John Sherman TO the Republican party?
action OF the Democratic party since they
came into possession of the lower branch of
lent opposition from the Republicans that
even Mr.. Hayes vetoed it after IL had passed
both Houses of Congress
prosperity OF the country is caused by the sue
cess OF his resumption plan: 1 have shown
you that the present financial policy of the
country is not John Sherman's policy. He
claims the benefit, accruing from Democratic
legislation, and from the goodness of Sod In
giving us bountiful crops. The devil once
claimed to own the world, and his pretension
the country is indebted to him or to his policy
Tor its improved condition.
Many persons believe the financial questions
are settled. They are not settled, and will not
be settled until the National bat ks disappear
and the people get the entire field of currency
fict going on as to who shall have this field for
the circulation OF paper money-the banks or
the Government. That conflict is as 1rrepres-
sible as the conflict spoken of by Mr.. Liucoln
between freedom and slavery, and it will go
mediaiely preceding the elections designing
Republicans insist the question is settled and
try to convince the people that all is well, ana
| have shown you the opposition of the Re
publican party to. the passage of the silver
declarations of that party as to the retirement
| of greenpacks. They have been silent here in
| not do to speak out their Intentions to the
| honest people OF Ohio. General Grant is now
| q prominent candidate OF the Republican
party for president. / want TO call your atten-
| ton to an extract from his message, delivered
December 7, 1875, which reads as follows:
| s'There few measures which seem to
| me important in this connection, and which
| / commend to your earnest consideration: o
| repeal of so much of the legal tender act as
makes these notes receivable for dents con-
tracted after date to be fixed in the act ITSELF
4
s'Second, That the secretary of the treasury
be authorized to redeem, say not to exceed
two million (s20000O0) dollars mont hly, of legal
| tender notes, by issuing In their stead long
| bond, bearing interest at the rate of 3.6o per
cent. per annum, OF denominations ranging
| from $50 up to $1,000 each. This would in time
| reduce the legal tender notes to a volume that
could be kept afioat without demanding re-
| demption in large sums suddenly
| Now here is General Grant recommending
| Congress to demonetize your green backs, and,
! after having them demonetlzed SO they will no
| longer circulate mlxnG
by an issue of bonds. This was Republican
| policy. This is a leading Republican who
delivers this message and the man who Is the
4 most popular candidate for president to-day
Again, want to call your attention to the
address of John J. Knox, comptroller of the
currency, as to what the intentions and expec.
speech on the 9Th day of August, 1873, before
the Bankers convention at Saratoga, he said
1.-THE seven years of famine have passed and
already have begun the seven years of plenty
| look hopefully into the future, and during
| be no suspension OF specie payments; that the
gold standard viii prevail, although the use OF
| silver as coin issued under restrictions, vii
| increase: that the interest upon the public
debt will be paid in gold dollars of 2o.S grains
or its equivalent; that the legal tender quality
the Unites States notes will diminish by pay.
ments; that the National baking system will
| extend and continue"
There is $ declaration by this leading light
/ of the Republican party that the gold standard
alone Is 70 b az your o onbe nn
] Won will have but one and that the gold; thai
the interest on the public debt will be paid In
gold dollars OF % 10 grains; that the bond
bolders are not to take the silver dollar; thai
the United States notes are gradually to dis
I appear; that the legal tender quality is TO b'
taken away from them, as recommended by
General Grant In his message; and that til,
national Banking system will extend ant
continue, occupying the entire field of tn,
currency, This is his prediction. Are yot
il s said ft he pree Of liberty is
vigilance" Is it not plain TO you, gentlemen
that the price of your labor, your conmoditie;
and your lands require eternal vigilance? TN
Ia battle that is 10 be fought, not by guns, bu
by ballots
Are you aware. gentlemen, that the discoun
tenancing of silver, the refusal of bankers Il
tered into between the various banks of TIT
city of New York not to lake 1t in the paymen
of balances in their clearing house. was an
Office in Washington City? And his own
assistant cretary In the city o
New York was, by agreement, 10 b
a member of that Clearing House association
where this refusal to take silver in paymen
OF salaries was be made? Mr.. Knox, In hi
speech at Saratoga, before the Bankers con
| vention, Informs us OF all these facts. / regre
that time Will not permit me 10 read further
} / call your attention TO the facts that you ma.
| read for yourselves. 5-.
One thought more: The National bank
have been chartered under the plea that the.
were to be the fiscal agents of the Govern
ment. Mr.. Sherman and his assistant secre
tary In New York are the hired men of tn
Government. The Government has decides
that silver is legal money Tor the payment
all debts and these fiscal agents oil the Gov
eminent and these hired men of the Govern
nent conspire together to make the Ia WIS c
employees conspire against their employers
is time their services should be dispense'
with.
|