The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-08-03

money enough to buy United States
bonds, and then they shall be pail in
gold. Who is that favored class? The
bankers and brokers, and nobody else.
They have already $3.50. 900, OO) Of State
debt, and Their Commissioners would
soon take NIL the rest that might d.
issued
Bat how is this gold 10 be raised? The
duties and public lands are to lie paid
for in United States notes, and they or
bonds ARE to be put mp at auction to &c!
coin for these very brokers, who would
furnish the coin t, pay themselves, by
getting - per cent. discount on the
notes thus bought.
/ have proposed an amendment te
The Senate amendment npon the princl.
PIE Of legit mae parliamentary rules,
that yon can make rs palatable ~ y,u
can any amendment which you do not
like, before the vote is taken upon it.
My amendment is offered for the pur.
use Of curing a little the evils and hard
ships Of the original amendment OF the
Senate. And though il may be adopted
Isshall vote against the whole as amend
ca. Ny amendment is to exccp. from,
the operation Of the legal. tender clanse
the officers and soldiers Of the army and
navy. and those who supply them with
provisions, and put them upon the same
footing with the Government creditors
who hold their bonds l hope they will
NOT be thought less melitoriors than the
money. changers. | trust it will be
adopted rs an amendment to the Senate
amendment, 80 that il this PERM .ious
system he adopted, il the beauty Of tho
original bill is t. BE- entirely inquired,
those who are lighting our battles, and
the widows and children Of those VIII
are lying in their grave, in every par
Of the country, killed i'll dafense ct tht
Government, may be placed on no worse
footing than those who hold the bond,
of the Government and the coin OF til,
country.
Where Bankers Profits Come From.
The national bankers, who have aha
i'll political slang is termed "a strpnl
pull" in Congress, are still clamoring 70
more privileges, or, in other words, 70
greater f,c.lities to rob labor Of is pro
duets. For this is what the whole gam,
amounts to. The public have bee,
great. misled in regard to the profits O
these institutions. Statistics are Dir,
reading, though sometimes very in
strnctivc, but the latest statistics relaiiv,
to the national banks show that the,
certainly have not been managed ut
loss. In 1859 the average net carning
were IA per ceat.; ID 1870, 13 per cent
in 1871. II per cent; III 1872 13 pc
cent. Every subsequent year the ne
earnings ranged from IL to 10 per cent.
| and those We're years in which the Shy
locks declared they "madc no money.
Neither did they make any money a
compared with the immense dividend
y i'd by the banks some years before til
! war. An eminent authority demon
stratcs that the profits Of the banks il
in 1896 were Is i,er cent. in 1888, Il
per cent, ami in 1853, 81 per cent. an
another eminent authority (kellogg
equally demonstrates that interest, evel
as low as 2 per cent, will nltim ,tely de
vour the whole Of labor's products.
The banks which made those grea
profits We're not national banks, hut the,
| tieeccd the lahorer as effectnally as tn
national banks now do. which goes t
show the necessity Of doing away witt
our system Of credit a, soon as possible
| and the sooner the better FIR Degrade
and plundered labor, for all banks liy
aud thrive on the necessities of the EN-
| plovers of labor. II they did not len
they could earn no dividends Mt all, an
their loans are made directly to employ
crs Of labor, who must take the usury on
Of the wage-slave's earnings, for there
no other source from which it can come
We don't say this by way Of apslog
for the &C ions Of starvation pay en-
pl ycrs. We simply state it ms n fat
| which ought to receive the considerable
Of all producers. Usury enters int
every transaction IN which labor and til
products OF labor are concerned An
| yet the national banks are not tie onl
pluldercls OF labor. All banks, II
We have already stated, live and can onl
live on what they abstract from the to
aud sweat Of the producer, through th
medium Of the capitalist. It is idle I
expect fair days wages for fair day
work SO long as hundreds Of millions al
iiiched from producers annually withou
any return whatever. We may hav
what is called boom in this business c
in that, or, perhaps, a general boom, hu
it il clear that We can have ITO lasin
prosperity and certainly no justice 70
the lahorcr till this system Of tribute |
the banks has been entirely abolished :
Irish World.