The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1880-08-05

The system which now prevails, gives
into the hands of banking corporations alb
solute control over the volume of the cur.
rency, and through this they have the
power TO FIX the price of the labor and
property of fifty millions Of people. By
provision of Law, the method is clearly de-
fined whereby they may. without limit in
fate or contract the currency at will. Cog
nate to this and part OF the same scheme
stands the system of funding the public
debt. Like national banking. this was
borrowed from the English monarchy. By
this system IN enormous non-taxable inter.
test bearing debt is 70 be pespetuated. The
bonds support the banks and the banks
foster the public dsbt. II you pay of the
bonds the banks must cease to exist.
Hence, If the national banks are TO contin-
ne, We must have q perpetuated bonded
debt. Both patriotism and sound states
manship loudly call for the abolition Of
banks of Issue, and the substitution Of le-
gal tender treasury notes for their ciscula.
tion. Pay the bonds according to con-
tract, and as rapidly as possible.
Seven hundred millions of the public
! debt become reasonable At the option of
| the govercment during this and the snsu-
ing year. Two funding bills are nov pen.
ding. before congress-ons introduced BY
the Democratic, and the other BY the Re-
publican leader of the house, whereby il is
proposed TO deprive the people of twenty
and thirty years of lawful right to pay
said bonds. This is . crime against the Ia
borer and the tax payer and should cause
wide spread alarm among all classes.
The annual surplus revenues, and the
idle coin now in the treasury, and that
which must continue to accumulate, if the
silver law approved Feb. IS 1873, ehall be
honestly enforced. are ample to pay every
dollar of the seven hundred millions, both
principal and interest, within the next six
years. There is not the slightest excuse
for funding these bonds. except 70 perpet-
uate the debt as the basis of an iniquitous
banking monopoly. It must be apparent
TO all that the great moneyed institutions,
and other corporations. now have control
Of nearly every department Of the govern
mens, asd are fast swallowing up the prof
its of labor and reducing the people 70 Q
condision of vassalage and dependenoe.-
Those monopoliss, of whatever class,
headed BY the associated banks, are inter.
locked in purpose, and always act in clio.
sess sympathy.
There are three great industrial classes
in America: First the producers; second,
those who manufacsurs our raw matsrials
and prepare them for uss; third, the dis
tributors Of these products. Each should
be protected in the leaiiimate fruits and
profits of their labor, but should not be
permitted to extors from and enslave the
other.
The great problem of our civilization
10, how to bring the producer and consul
mer together. This can only be done BY
providing an adequate circulating medium
and BY rigid regulation OF inter state COM
merce and transportation. This was wisely
forseen BY the trainers of the constitution.
and accordingly BY the 9Th section of arti-
Gle first, congress 10 clothed with power
ITO regulate commerce with foreign M.
tions and among the states" This power
imposes . corresponding duty upon con.
gress to see that tits enforced.
The two great agents Of commerce are
money and transportation. II is undenia
Bile that both ofthese great agents are un-
der the absolute control of the monopolies
By controlling the volume of the money,
tie banks fx the price of all labor and
property; and the railroads, by combination
render competion impossible, and control
absolutely she price of transportation.
This places the people between the up.
per and neither millstones, and grinds them
to poverty and ruin. 1t rssults in the
wholesale robbery of both producer and
consumer. Who is able to controvert thii
ssnpendous fact? Farmers. plantere, and
laboring men Of the United States, be-
seech you to open your eyes at once to thil
alarming condition of thinas.
I am especially thankful that the plat.
form of the party which placed me in nom
instion is open, bold and unmistaksble OF
these great questions.
The Republican and Democratic plat
forms are either silent with regard Il
these vital issues, or they have pronounced
in favor of the monopolies and against the
people. With fifty millions Of people
looking them in the face and pleading fol
relief, they utter not one word of promiss
or hope. Their leaders and platform ma
kers are in the tolls of the syndicate, gi
gantic bank corporations and railroad mo-
nopolies. and have neither the disposition
nor the courage to strike one generous
blow for industrial emancipation.
An area of our public domain. larger
than the territory occupied BY the great
German empire. has been wantonly dona'
ted to wealthy corporations; while bill
introduced BY Hon. Hendrick B. Wright
of Psnnsylvanis, to ensbte our people "a
reach and occupy the few acres remaining,
has been scouted, ridiculed and defeated in
congress. To consequence of this stupen.
dous system of land grabbing, millions Of
the young men Of America. and millions
more of industrious people from abroad
seeking homes in the New World, ars lef,
homeless and destitute. The public domain
muet he sacredlv reaeryad for actnai set-