The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-08-31
AN OLD FARMER
wants us eo write q speech

Taught that under our system Of finance
it is literal impossibility 70 pay tho
debts Of the people, begs rs TO write
speech, and suggests the following
points, which We give for the benefit of
Republican and Democratic stumpers
and editors who suppose that the CON-
mon people don't know anything about
finance, and that they pay no attention
to the legislation of their Congresses, or
the acts Of their Executives.
Just fancy one Of the kid-gloved mo-
nopolists attempting to talk their robber
system and theories into country audi
elce composed Of such men as our corre-
p ,ndent. No wonder the monopolists
IN both old parties never attempt to de-
fend their system, but depend for keep
ing themselves in power upon arousin0
tho partisan prejudice Of their hearers.
The "hints" which our correspondent
gives for us to base speech on is one
Of the strongest arraignments Of the rob-
bcr system we have read in long while.
He says:
A speech to suit me should call the at
tention Of the people to the responsible
ity resting on them as voters, and that
the agents Of foreign capitalists are
known enemies Of this Government.
(See A. Campbel's Legal Tender.)
2. That there were $50, OO0, 900 OF treas
nry notes issued ct the beginning OF the
war which were made full legal tender
and which always remained at par with
gold.
3. What is money?
A full legal tender Of any convenient
material bottomed on taxes Aristotle,
Ben franklin. Webster, Clay and GAL
houn.
4. In 1862 the House OF Representa-
tlves passed bill making all the papec
money full legal tender, and ii received
violent organized opposition not from
any creditor Of the Government, from
the President down to the army team
ster, but from tho monay power, part OF
whom we're known enemies of the Gov
ernment. There was no seam left open
for the graphing irons Of the financial
days after the introduction Of the bill,
the wolf howl that had been echoed
from bank to bank called to Washing
ton convention Of the money power
consisting Of four delegates from New
York, three from Philadelphia and three
from Boston. What arguments or what
undue influence were brought to bear
upon the law makers Of the Government,
will probably never he known. but we
know that they stabbed the peoples
money IN the back with the exception
for duties on imports and interest on
the public debt" compelling the people,
through their importer, to buy their
coin to pay import duties with, COM
pelling the people to pay $500, OOO, 900
in greenbacks for their 800. .0JO, 900 in
coin, which they turned into bonds.
Bondholders' clear profit arising from
no investment ut all, ten to twelve mill
IONS (See De La Matyr on Weaver
resolution.) Every greenback that went
ont to fight the nations battles was ac-
companied by bond shark to gobble it
mp. The act Of 1862 authorizing the
first $3.50, 600, 900 authorized S5Oo,OoO,-
GOO of bonds to absorb them.
How did the bordholder get his ono
hundred millions to aell the people
Interest on bonds after March 1, 1864,
was payable in advance in coin. D.bt
in 1864, $l,Sl5, ,OO0, 900; iaterest paid in
advance, SlO8, 9OO, ,OOO Then the people
through their importers were obliged to
give them - 81 in grecnba ks for 81 OF
their gold. What for? Why, 80 they
would have coin to pay interest on bonds
with. For the bondholders' sos, 900, 600
III coin, the people paid them $272, 250,-
90; bondholders' clear profit arising
from no investment ut all, $l63. $40. O0O
in 1864. which the people gave interest,"
bearing bonds to carry OH the war. pay
ing s per cent. gold interest in advance.
Six per cent. interest on $272 ,25O, ,OOO
is $l6. $50. 900, worth at r. so premium.
SAC, S37 900. The exception on the green
back compelled the people through their
importer TO buy Sl25. 235. 900 in coin,
and to pay them 33l5. .OS7, ,OOl, free gift
Of SlS7, $50, 900 in 1884. You men that
never had dollar without giving valls
received, what do you think Of class
legislation? What il . republican form
Of government Where the representa-.
tlves represent the people. What Is =
monarchy? Where the laws are made
in the interest Of the few.
5. The so-cslled national banks. The
First National Bank Of Greenpoint
owned md deposited a 500, 600 bond as
basis for the bank. 1t drew 500, 900 Of
the best money the world ever saw. and
81. 600 in gold interest in advance, worth
$l5, 900 Of the same kind Of money that
bought the bond. Since 1864 the peo-
pie have paid this bank about $l29. 600
interest, after paying the bond and 35.-
OOO over in 1864. to say nothing about
making them absolute dictators Of our
financial and business affairs. Show
how the people are taxed and ON what
goods aud how much. Farmers can't
see that they pay tax. Twelve hundred
and eighty millions Of money were de-
stroyed. To make that amount profita-
bic three millions Of men had TO be em-
ployed at $4OO per year but, by turning
this money into bonds, turned these
men out Of employment. The people had
to keep them and pay about $50, OOO. QUO
| for the fun of the thing. After buying
the bonds at SO cents on the 3l, then
they doubled the value Of the bonds by
doubling the value OF the dollar that We
have to pay them in. To do Il they
\ have to take SO per cent. out Of our
property, or SIS. .OOO, ,00O. .OO0 Show that 1t
took more wheat IN 1880 to pay the debt
/ than it did in 1865. 65.-Iadidnapoiis Stsa.
Where Is the increased
4 What was tho increase Of the wealth
Of the wheat grower last year. or the
corn grower, the pork raiser or the
farmer. generally? Was it 5 per cent
Was it anything after paying expenses,
and will it be this year? Grant that
there was An nyerAU0 increase Of wealth