The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-08-04


months debating over that II thby had any,
thing Of higher rorctrn To debate about. II ID
| saih there are more than one hundred million-
| aires In Wall strect--how many there are over
| tho country only God knows. Jay Gould war 4
bankrupt In 1873. To-day no IL said to have
| gathered more than siAty millions. Vanderbilt
has one hundred and thirty-one millions At the
lowest estimate; others ton, fifteen aud twenty
millions. Now, / want to make tllis one
impression 80 distinct that none Of tou
will ever forget II every single dollar that
those men have got has been created hy tue
toll Of tho producing classes There il ilo
hocMs-pocus method Of creating wealth. We
read about this gambling with stock in Wall
| street, without realizing that all the wealth In
created by toll. The el3i .0O0.OOD that Mr..
| Vanderbilt has got has been created by those
who work. have asked the Question In many
holder that became millionaire bv slave labor?
and | have yet to hear an affirmative re-
sponse. How many serfs have tOiled to make
Mr.. Vanderbilt worth Sl3l zoo, 900, Mr.. Gould
more than sixty millions, and the eighteen men
in the Senate millionaircs? | want you to COM
slider these facts. have not said ANYTHING vet
about the cansu or the lct,,edy. so You cant
sst at your preJndces yet. II IL a very pleas
ant matter to have $4,000 paid to 4 man every
day ont Uf the toll III the people, as we are
paving to Mr.. Vanderbilt for interest on his
bonds, he having no care for the toilers. The
kfaNe-EoIucf Iihu 10 care lOF the people anu
the children, and take care Of the sick. MIR
Vanderbilt has NJ trouble with his srrfs nj NIL
How was this donet Ii was done bv n,allipll-
latng our finances, by combinations Ill nj WING
and Transporting o,r rtol'istn by noi,6pos,s !;
but first aud permanently by manipulating Our
currency
Icould prove, IL had time, that the money
power of Europe rules Europe lesis-
lation. But let that pass. Let us see how il Is
with otirseivag That has ahxanfpix
ruled our Government. The Government has
been dong the bidding IF the bankers. They
| have controlled all financial legislation, Ex-
cept the partial reconciliation of silver and
| stopping tile cremation Of the ere.nbacks eve
+, financial measure hes been nj their iii tatan
and not 1t the dctatian Of or for the interest Of
the people. They lave absolute control. Mr..
Garfield has put that matter III the strongest
| lgnt. and my Republican friends will receive it
from his lips better than front mine. Mr.. Gar
| field stated the truth when he said that il the
Government should issue the currency and con-
| trul its voume IT would be absolute dictator Of
| the financial affairs Of the country. Do you
| take III the meaning?
That power which issues tho currcncv and
controls its volume controls the price OF every
days labor Of every acre Of land. II every
l,uehel Of wheat, every steer. every hog, every
thing.
Ii il maxim that the volume Of currency
L
| tlates prices. Contraction OF the currency corr
tracts prices. And Mr.. Garfield stated the truth
i when he said that il the Government should
issue the currency and control its volume It
would be absolute dictator Of the financial and
business affairs Of the country. Vice versa, II
the banking associations have the power they
are the absolute dictators Of the financial and
business affairs ri she rs,,.nt'ss. What Is the
| difference between MI. Garfield and us? On
that issuc We agree, that whatever power isnu' :
the currency that power becomes absolute div
iator The question is, Shall the people dictate
fh.ir own financial and tusincss affirs thron, b
their Government, or shall the banking OF
| galclly b. enthrOncd over them, absolute dc
iator Or Their Rpa"c:ci snd tH,iness affairs .
| This Il the issue; and that this banking Ar o
citation shall dictate our affairs il Repnbl CAMS i
sngarei of. This Is the whole Of il. That i.
its substance. They have lad that power a.
most entirely.
Iwant to show YOU Tor moment what issu-
ing the currency hae ,crrt liz. The national
banks issued $3.50, 900, 900; the Government Is
sued about the same amount in greenbacks.
have carefully reckoned the figures. hay.
taken the amount Of bonds sold each year. and
have rcckoned up the interest paid on the
bonds, averaging il at 6 per cent. It ought t.
have been averaged higher, Ter the interest wa.
paid in specie, aud 81 was worth some Of thu
time 80 in paper, and at one time worth u 50
| attI tnal aIteFtnS close Vi the WIT. SOupouilO
the int, rest on the bonds which We have pail
then compound the interest on the $3.50. e0o. y
currency resting on those bonds. at per cent,
and Won have che enormous sum Of %, 233. 0oo.-
0UU paid o,.t OF your toll into the hands OF the
bankers for this S35O. 000, 00Oof currency. while
| at the same time the Government has furnished
| better currency costing the Whole people asso-
| utely nothing but the expense Of printing.
| Now. which do you like the best2 There Il =
tact a. PLAIN as the nose npar my face, and
| guess you can zee skAs.
Some one NAY say.the bankers may Just rs
well have these bonds az anybody else. 80 We
need not reckon that interest. We might have
put the Si32, Ooo,O 900 OF bonds into greenbacks,
taking the place OF the national-bank currency.
Then We would not have currency inflated
beyond what we nueht to have: SO that two
| billion three hundred million is absolutely given
away to enrich the bankers and impcverlsh the
people. They contracted the currency between
ls66 and 1873 III. gs2, 600, COO. have the exs c,
iigers, taken from the books Of the Treasurer
There were aiioat national bank notes paid te
the army and for supplies and put into wide
circulation, greenbacks, seven. thlrties. interes,
notes, and other kinds that were paid out by
the Government. and did constitute currency.
| TLosgh a car+ ri n aas abnormal currency,
yet X was all ali BAT as currency in wide clrc.l-
| ation IN ls66, but was retired between ls6i
and 1873 down to Sis2. 0Ua,0oO or about
| that. there were $l.60U,Ua, goo In 1866 and
! little o~cs .ivJ.U0o.0O0 III 1873, mrkng
contraction 81 Il. 100000. That caused
the crash. ! aeked myself. what can tn,
mean: II you forget everything else do lo'
meant They gsta large shaie OF the producl
Of labors Why pa,als-a MIR industry w
av ns's@sag II. grand system OF creating
wealth. We arc paving the national debt a
the rate Of Sioo, 0sO.o sU year and not feelin,
II. The people are getting out OF debts VIII,
1 .iyiy.a than mn AZ Vsk.y =, -.
with sra~,ps. There was purpose dark and
infamous. Those who contracte the cnrrene,
understood what they were about. Had u.
| guaeon With tina, volume Of currency, creatln,
wealth, We would have paid every dollar Of OF,
Indebtedness. and stepped Interest. In ordel
~ iassli. On us this mortgage to which l hav.
re;erred they crushed our business. The,
| brought on us all the miscrles of that paraly 81
Tor this purpose, and they were successful
Now, how was il:
In lsa6 ecers business n!sn was pushed on {
sn,.ad ost wide. He had made his plans w,tt
Inference TO prices they then were He ex
pscted returns on that plan to his enterprises
and made all his Arrangements accordingly
address bGs.Lcss mel: tina. was the case Will
son. II was the case with .very energetic
business man over the whole land never in til,
history Of our nation was every man SO pnsh.s
out. Contracting the currency brought du~s
tho prices, and ti,@ fret Wa. r.ti did not lie
rsise ". tcthlns they had expected and couls
nut square accnnats Tut they thought th.r,
would be a change, AMI they made up the dit
ference between the prices received AMI tAs
prices looked for In accounts. let their account.
Accumulate, then settled their accounts with
notes. then with mortgages, and the mat, 4
kept going down, steadily down. ON downward
they kept sinking deeper and deeper. and theil
mortgages reaching out until twenty billions o.
indebtedness was fastened upon Us. wan,
you tn study that conspiracy. II was designed
Far-reathing minds devised 1t. The bankin,
institutions of the East combined with til.
banking-power Of Europe to fasten TN us tli
nterest-beanng debt. and then TO put t.,
volume Of currency down to point where Will
siich debt on us never coul pay the prin
cipal; where VIC can scarcely pay the Interest
The purpose is never to allow this debt to b
lcssened; and il it should lessen prices ria
/ and people be pushed out again, then again I,
hold the power, keep our currency based 81
specie and when the people get pushed OF.
J again crush II down and gather in the results
. The settled purpose u the Republican part
and the Democratic leaders il % destroy vha
greenbacks remain 70 stop the coinage Of sll
YER, to keep our currency down to = gold basis
i | To Lave GOLD "A the basis and nslianal- In N