The People's vindicator. [volume] (Natchitoches, La.) 1874-1883, 1879-03-01
The ''Money Power'' and the People.
IN O. DemOcrat.l

IN o. Democrat)
A recent special I" ome Of our c"n-
t-,np.,raries states that the New York
State Senate had adopted u memorial
asking Congress I" pass bill T." com.
V~l drtaulting States t" Jay their
debts. "'rhe object Of the cTdi.
t:rs," says the dispatch, "is to bring
their cases before the United States
Supreme Court. and, il Judgment il
obtained, let the army enforce coIlec
ton"
This rcpo,tetl memorial il a" en-.
tirely in accord with the spirit which
animatrs the "m"ney power" that we
si'all not be surprised to find that it
was actually adopted by the New
York Senate. For more than te"
yeats the financial policy Of the gov
eminent has been conducted in the
interest Of the bond holders md
national banks. uniusri,cd hy II
spark II either wisdom ar patriotism.
thia cold hl""ded policy has been re-.
morselrssIy pnrsn+d until the country
is literally bnnkrnptrd and millions
If people reduced 1" poverty and vir.
tual serfilom. In 1873 silver swns
demODetized and the volume If the
currency greatly reduced. In 1875
the resumption act was passed, and
under that measure another great re-.
duction has been made in the circu-
lating relium. In consequence pro.
perty Of all descriptions has sunk
from twenty five to thirty per cent
in value. Let the reader deduct
twenty five per cent from the assess.
ed value Of the "perty Of the
Union in 1870, and he may form M
idea of the enormous sum Of which
the property holders haze been rob
bed by the decentralization Of silver
and the process Of contracting under
the resumption act. Az money be-
came scarcer, - the volume Of the
currency was reduced by these
measured, like any other commodity,
like bread and meat, like shoes and
clothing, it became dearer and more
difficult for tho poorer people to Oh
sain. Finally it begin to he a luxu.
~; the laboring people first, and
then the mechanics, could no more
obtain money than they could Oh.
tain broadcl"tl coats for themselves,
Or shk gowns and Valenciennes laces
f"r their wives and daughters. But
the process Of contraction went on !;
the purchasing power Of the masses
Of the people continued 10 diminish,
and then the merchants began to
ind business falling "ff; poverty and
want were already among the people ;
merchants began to fail !; enterprises
If all kinds were suspended. Wise
acres began to talk of the troubles
brought 90 by over production. Bnt
they could not explain how it was
that If We had produced too much
wheat, aud corn, and pork, aud rice.
s0d sugar, there were millions Of
people smoDgst % who could get
neither wheat, corn, pork, rice nor
sagar to eat. Aud 90 the process Of
contraction for the purpose of specie
resumption went On, the people
growing more destitute and misera-
lie, and gold and bonds growing
more precious every day. And now
We find the 6erceat symptoms Of dis
c"ntent manifesting themselves in
every portion IF the country, threat.
ening ~ with riots, strikes and blood
shed. Yet, strange to say. neither
the Secretary Of the Treasury, nor
the gold rings, national banks and
bondholcers. at his back, seem dis
posed in the least to relax their n,er.
ciless policy. They refuse to con.
concde that the people have any
rights they are bound to respect.
1t is now beyond question that the
parrose Of the ''money power is Ia
permanently change the character ol
the government. Their object is to
establish a centralized government
controlled by The bo"dl.olling inter-
rat and the banks. The resolution al
the New York Senate ia u "feeIer, >
as it were, in that direction. 1t il
probably . little premature bnt i,
clearly aud uomistskably indicates
the real purpose of the ''noney pow.
er," ard it clearly indicates that IN.
lese Cengrees firmly interposes wise
and libetal legislation 10 the pnhli,
interest, they will 90 on with thei,
remorseless policy until they fan int
. real flame the now scintillating en-.
bers of discomfort.
Among the labor leagues, the 90.
cialietic orders, the Greenback men
and Nationals, there are undoubted.
y many. vicious and lawless men
who desire to provoke disorder and
violence. But the great macs of these
people ask only foi tho vested rights
Of mon they AK only that govern
ment shall not discriminate against
them and deprive them, 10 the inter
! cot Of favored classes, Of both I'll.
right to labor and to live. Under til.
Ijast administration Of free govern.
meut disconteDts such as thoae which
now prevail amongst the WORKING
people If this country are impossible
The intcrests Of the masses of I'll,
people are identified With civil order
| When, therefore, they become die
satis6ed !; when they begin to organ
leo q they arc doing now; wi,et
they threaten communities with M.
risings and follow the Wild and viz
ionary theories of tho unwisest arr
worst Of men, they are suffering unde
wrongs which have become fsarfull,
oppressive. I'VE deplors the out
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