The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-05-12

YOU ii, your privileges. have told YOU we will
keep the bond here free OF cost, pay interest
on the whole IL will b. exempt from taxation.
principal and interest. The Government pays
YOU interest al this end Of tho line. and you
take 600 0o1 10 Elizabeth and loan II ont ut in
,erest, 40 Won draw interest n both ends Of tho
%sr r M Gfsss'y good is sy't sn ,. nny
In 1894 gives the Secretary u the Treasury the
right to pay your interest one year IN advance,
without charging you anything for II" "Well,
We viii 70 IN. Hest banking system the world
ever saw. Are there any other priyilcges2"
"Oh, yea other privileges also. The law
e into the banking system 10 retire your MONEY
from circulation whenever you please, in
whole or in part private affair Of your own.
That will enable you 10 control the price OF
property. When money II scarce prices are low
and times are hard. That will enable You to
bring prices down, then YOU can buy In this
property" "What would We do with it2"
HThc Law passed Juno IA, 1875, gives you tho
right 10 issue the money again whenever you
please that will bring prices up then yon can
Sel Il back and put money in your pocket.
"Welh Ne never saw ouch bonanza 40 that.
Any other privileges Z" "Oh, yea. The Treas
nrer Of the United States, James Gllfillan in
his public report TO Congress, page 20, says
money, the banks have in the last twelve
moatks retired fully t26,00O, 900 Of Their,
circulation. Irving you that mncn Tess
money" us that the way Il works2'
"He gises you an illustration 81 .
bank 10 show you. what the rule y
among them. One bank had three times, with
in ~ many years, decreased their money from
si5o.Oc0 to $4,000, and had a. often Increased
It again 10 e45o, 900, 30 that at one time said
tsnk lad In circulation fs52, 600 Of their notes.
when the law only authorized 1t to have
$&5O.0O0. That Was double, You see; and this,
gentlemen rom Elizabeth" says the Comp
troller, .ia the official showing Of the Treas
ulyr OF the United States. II the banks can
uave twice the amount or circulation, and loan
il out to the people, and draw interest thereon,
don't YOU sec that they are drawing interest
uron three times their capital. and that il the
greatest privilege that have shown YOU yet
II Il the best banking system the world ever
saw"
Now. ladies and gentlemen, have given yon
exactly the law concerning the nationsl-l ank-
ing business. and caution Won against dlstc-
leislng what have said BY quoting from Rob
ert lngersoll. That. ges,tlemen, is good Re-
publican authority, il he has made great
many mistakes concerning Moses. Mr.. Ingcr-
soil saxn il man goes before the leople and
tells the truth concerning the national banks.
he will have to keep his face as solemn as d
deacon, or the people will swear that he is lying
shont II. have given you the banking law.
Now. presume IN an audience Of this size
,herc are many who are in the haiti of saving
Their PRAYERS. Go home tonight, draw the
,srapcfv Of your couch about won, think Of the
families Of the poor laborinE men in Elizabeth.
whose children are "a dear TO them as YOURS
arr TO scn, but who are half fed, half clad. mi
',ss than half educated. Look your God i'll the
face and say this is right, If you dare Ipnt il
10 your conrcicnces. You know IT il not
,isnt Isay put that toyour consciences. fol
II + tile Office OF the National
purity II appeal to the conscience .;
the American voter. That Is the best
Ranking system the world ever saw: and il il
.. God help the worst system. do you bc
ilese, fellow.ci,lzena, that the people are capa.
| BE Of self-gosernmcnt In this matter q,
finance a. ia other sffaire? II you do, Won
must come TO the conclusion that the power
should be exercised by the people for the gen
,rai welfare. When Abraham Lincoln va.
excited g she ircsidency g the United States
| ing he could hear the tramp Of hostile armies
marching on the capital Of the nation. n,
opened wide the Treasury doors, looked in fol
means with which to arm and equip the mel
aeeeesarv to suppress the Rebellion. But Et
found not dollar in the treasury. The mex,
impulse was to borrow from England, but En-.
gland wAs unfriendly. The next thing was L
borrow from France, but even the ancie n
friend Of the republic Was now unfrienils
| Taen memory suggested that when Lord Me-
son was lighting the battles OF the Nile hi.
army war supported by Paper money, and. whcl
| England won the first place in the mihtar,
h story Of the world at Waterloo. she pad h,i
army With paper money. liz England IL sovcr
cisal, why is not the Government Of the Cntss
states powerful CROUCH TO make its own mon
| csg Then the grtenback was born and took il;
place by the Flagstaff Of the nation, and az
| there until treason surrendered under the ap
| Pile tire at Aniscmsttox. Yes, says my K.pnh
| heaa friend. now | have Won where want You
| The Hreenhack deprecated. and Won let the Ma
Il nal party IN power, and they viii give 70
derrcciatcd money again. Let me esk lues
| ton. Why did the greenback doreeia,,s Yoe
| answer. because too much of il was Issued: h
| cause OF lack OF confidence. and because iher.
| MAS no speSie with wheh - Ply. Thai is u,
answer universally made. Il YOU are right, A.
1 ~rong. lsSsa are wrong, l am right. Now
! give close attention to my argune il. II so.
| have given the correct reason. then all the pas
mooney would have deprecated alike. Butt d.
1 not. There was not 4 dollar OF specie Wi
| WIKI to pay FOR fifteen years. Sixty milton
l OF demand notes wire made full legal tsndn.
and never did dopreciate. hut kept rar VT
gold. On Hleck Friday, when gold tl,ae,n,t,
1 81 that liChtning could not keep up with L. an
the warce In the telegraph Offices were ac,a iis
burned on, thcse uotcx were nimhle enough {.
keep mp With il and actually went up ai..
4 gold and CAME down with gole, q Il
remained II par. Why2' Because ,hcf,
weN no dutics that gold could falil tbs
these notes could not perform. II the q n
efnmcnt wanted money to Jay sntsrest on Ill,
| public deb. II the importer wanted money 1,
pay iMport duties these notes could meet IN,
demand. They were made equal with gold h,
law. The Greeats&cks that deprecated Mei,
made by the law legal tender Al their fac,
value for oil dehts. pubic and private. exc,p
interest On the public debt and duties on i'm
lie a good ~ gold. II the Government Nantcs
10 pay interes, they could not do il with green
hacks. II the importer wanted to pay impcr
dutae1, he could not do it With grecnbacks. III
naust have rcld. Now this 10 sufficient TO sat
sssy cyesy mAn and woman IN this audience.
nov swear you in. fellow-cstizcns AZ jur,
Probably this . the sstst time in your lives
You are my jury now. ladies and gentlemen
4 Now / affirm before this audience that tn
grcenbaek depecia.ed sscsnss Of q ciiniGS
coasrirscy 10 speculate on the misfortanes o
the Government and on the blood OF her sons
shall challenge no Republican, no Democrat
| II had case In court that required testimony
| should want witnesses who had been on tn
ground AZ the time, 10 have sufficient intelll
gsnce 10 understand the Gaze, and l shout
want them 10 tell the whole truth about t. |
| | have such witnesses gam my case. I Eol
in my hand the sworn testimony Of etalwar
Republican. William Pitt r,sscnden. Ii he no
nlsAblcg In his report for 1864 and ls6s
page 30, he attributes the depreciation q
Grccnhacks 10 - criminal conspiracy to ra,s
the price Of coin, regardless Of the result /
pubic credit"
Now, will give YOU another Witness III
Congressional Gleo.s. Forticth Congress Appsn
dix. page A,ulA speech cf John sherman. MI
sherman. tell this jury why ereenhacks deprc
csatcdg 1T was cur pollcv during the war i
deprecsSte these notes 10 they would come il
mere freely IN the purchase OF our bonds"
was the policy to do il, Let N examine thi
seacy, Eessenden SAYS Il was "criminal con
sparacy." sherman nlakes clean breast of
and sAyss I'VE did il on pnrpose." Now, M
friends, IL YOU had Sl0o. 600 ia gold at tia
time and Won could exchange On for Sa.S5 i,
grenhacks, then yoa could exchange YOU
sio0ooo for e2sso0 and then the law al
lowed ycu 70 put tho greenbacks into Govern
naeat bonds at their face value, exempt frou
taxes, and drawing per cent. interest
Another point wish 70 make il As TO no,
much We lost In this first conflict you had Will
the money power when you we're trying to p,,
down the Rebellion. cali il the first Bull ltn
defeat in our conflict with Wall street. Their
were two theories Il the time Tie Thaisieu