The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-01-05

Il
possessing the same purchasing power NJ
go'd2 l denouncc Il, and challenge the
friends Of such policy, il IL hns nny
here, to como to its rescue. Let those
who will or dare stand forth ns it's
eli ,mpions. This issu,, thus forced
without reason or justice upon the
y nntry, will be met by the country,
mud its authors will be sternly rehnkea.
Such movement, however, against
financial stability ahd security must
necess ,rily have a powerful inspiration
in some deeply interested quarter. We
ne not left III doubt at all as to the
source uf that inspiration. In connec.
ton with tho proposed retirement Of sil-
yer, and in order 10 quiet the fear in the
public mind Of a destructive financial
contraction, the Secretary, rs the mouth
piece of tho hanks, Is good enough to
say IN his report:
There mood DO no apprehension Of to, Inn
| iatpaper eiiculat ON. The national baiiks are
ready 10 issuo their not,s ia kueh quantity a.
| the laws of trade domand. and n, security
| therefor tar aostrnmtn mt will hold au caGsx-
| lieut. n It's own DO ID.
With what supreme. aud, | might say,
insolent complacency the entire welfare
Of the people ~ hero handed over, i'll Il
few words, to the care oil moncycl cor
l,nrations, whose trnicrcst meicies are
legalized cruelty AMI multiplied us,,rie,.
We ARC told that tho national banks
nre really to issac their notes In place of
thu silver currency marked for ,lestrne.
ton, nnl to do SO in such quantity as
tho laws ot trade demand, the
banks themselves, Of curse, being
the Judges 81 the laws Of trade and Of
their demands. The country is TO de-
pend, in ether words, On the interest or
the generosity Vt the banks fer its sup.
ply OF money.
Sir, il is mol my desire to indulge in
harsh criticism on Any class. Int III ny
opinion the men Of AL others least quail
| iied by knowledge, unset!shncss or
breadth II views ~ pass III un the wants
IT tho laborer and OF active business are
tho average national bankers III the
United States nj this time. Absorbed in
mones-retting for themselves, their Wis.
ion Of duty bounded BY their own inter-
ests. and their desires concentrated on
large dividends aud rich profits, they
know hut ittlc and care nothing about
the great pulsating tide OF human effort
and human progress which is bearing
the world forward. The question here
presented by the Secretary Of the Treas.
ury Is whether IL such minds shall be
surrendered the entire control Of supply
anl circulation If the currency. Who il
/ ready t. support such u proposition
| Has nation al-hank money been furnished
ut - little expense 1. III people that
they Mant it to take Ia, place Of al
other kndsg a. not wonder that Iii.
banks want total monopoly If the cur.
] rencv, but ii is astounding ID me that
taxpayers shou ~ wiling far them 10
have aay eoatros st NIL IL that vita.
question. The sesim If TIE banks ia
destroy silver aud sreenbaess is very
Vastly understood.
| Tue profits =; national banking un.sec
our present system have been, anu con.
nnuc 10 le. something almost fabulous,
and II IL natural thag thos. engaged in i,
should desire 10 eAtsni their operations,
over the entire currency Ut the country.
Ibis Is the solution u their c,aseless aE
i'atlan for more power Over the finances.
has short time ago they were demand
sag, through the Executive and the III, II
Secretary nj the Treasury, nov tire -, a
tor from OHIO Mr. Sacrmanl. tina, tie
l.gal.;eaasr ,icet-payias quality III over
S.si6, ON, 90 ~. gncehbacas. tlea a. i,as
with su.l, sheu 4 ~ with r,wa, als
| that this mooney, costing the nSepse
| nothing ior lts circulation, should h lei;
Ia persia Ivy the waysilc. Tins WI. to
he aoac in order that the hanks might
issue their ne,ss IN its place in such
| quantity as the laws IL trade demand,
according t. the hroal discretion now
coneeisi hv the Secretary. Let rs
Look, however. for a mnMcat IN this con,
aec;ion III the c>'ss a. the lelp'cc. hank
note casrency, and see Mhe,n.r eiscu-
1 lstlag meiiam SO Expensive should sup.
plant all otheya The hanN.Gata r,rel.
ss.ian las averaged IN ioaad numlN,rs
about SaSO, Or, eua daring tie last eight
Ten Yeas. GovsrmaeIs heni,, owned
10y the bankers ANA ir,wiag Interest
from tae labor Of the recp.e we've p,sig, Il
10 the amount OF over Siao, ,ksl, 0o0 tor
the security OF this circulation.
The ia,er.st paid by the people ami
received hy the banks On these bonds
may h. stated III m average of not le>s
than 81, OK, OOoa year, this, Tor eighteen
Years, amounting u uver SssOo, tesa, ~
tor the blessings at bank money. Es
AIDING 10 this interest accent tlla profits
ot the lanAS oa their circulation and
their deposits, il viii w. ioana that they
Lave received enough saias from the
packets os the people since their cre.s.
ton IL pay ID two thirds ut least Of IL.
national debt. And these vast SUMS
have been paid 10 the banks simply fer
tae privilege IL reeciv.ns shsoaga iae.c
hands little mere usaa onc-,lnsa u
oar currency. II na b>stsr quality than
the asaer currency for wles>, circulation
taess Vas no tax ua aashltiN. Ii this
sass. i showing ~ q esi,ire Congress IL
a.snaoa tic whole iiMaac!M question 10
the laukss
Why will not these financial car,s IA.
uaas learn wisdom in time, and forl,en
,he,r greedy aai rpalsivc demands !.
We have heard hen, and elsewhere,
many Games, adman'sio.,s against Imam,
cal agitation. Who hav. been tn az
tasars. those who make aew, asn.saa,
AID asarleSoas demands Il, each new ses>
sion oi Congress, or t!.ose o..e s.aud
hero 10 resist chcroacilM.at and oppre
ssan upon the rights ana labor .t the
people, Who are the aSitstors now ?
Am to b. sti;,saa,:z.l ~ such because
oppose measure ot hnaGe,al agitation.
u hsssness disturbance, ami os Nlus-
spread .li>a>,crs Every knan,sai ayi:a
uas', from that Il March. lSoa. chang
lag thu contract under whleh the hoa.l>
we,e 10 I've paid. t. the pfes.a, hour,
ass been forced upon Congress aaa the
eenatsy by the insasia,e. RELENTLESS de-
nsasss q. the banks ana tn owners III
hs.ds for unjust and anrie a,eoas priv
iiege>, powers and profits. | ca s,ie.y
appeal to history. and challenge It's res-
orsis |. the tatn oi this statement.
SIR. aalss> | am Il. ach III staacn. Ia.
SAFETY Il tn hanks del ends largely a,.aa
a different hae II con,suc. III Their par,
hereafter. Tie people are weary MI
alarmed >. thar pessistla. agitation If
tn. business III The country III on,.r Il
promote their own selfish ends. II IL i
8s.,s L. Na.M.