The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1889-10-03


invites the people to discuss public
questions Ofpresent interest. ''Here
shall the press the peoples rights
maintain, unaWed by influence and
unbTibed by gain"
More Que tons and Answers for the Peo-
PIES Forum.
ON The SENTINEL of the 18th
you began the discussion of the ques-
ton of money. Is it your purpose
to continue that discussion, and do
you think it a matter of very great
Importance to the people at this
time?
Al shall continue the discussion
of the money question SO long as the
Forum remains open to the people,
for the reason that am thoroughly
convinced that no political question
approaches it in Importance
Q-How is it SO important? 1t
seems to me that comparatively few
people SO regard it.
Alt is $50 important" in this way.
Money is not only the ''sinews of
war" but of peace as well. Money is
the "breath of life of the body pO-
Htic. The most important depart
ment of this or any other Govern
ment is the treasury department., be-
cause it's influence extends to every
part and particle of social and politi-
cal structure, just as gravitation
reaches every atom ofthe solid earth.
Every man, woman and child needs
money, and their prosperity, useful
ness and happiness in a very great
measure depend upon it. Money is
the chief element of civilization
itself.
OFF these things be true, as you
say, all other questions seem insig-
nificant, the tariff not excepted.
What is to be done with the tariff
question?
Aft, as Thomas Jefferson said,
"the power to issue money We're ta-
ken from the banks and restored to
the Government or people to whom
it belongs" there could be no tariff
question, for the reason that the peo-
pie could and would pay all necessa-
ry revenue, without the indirect, I'M
equal and unjust taxation, which en-
riches the few and impOverishes the
many.
Q-Why is it the people submit SO
quietly and patiently to taxation SO
unequal and so unjust?
A-Because the population Of the
United States is sixty millions, most
ly DAMPHOOLs.
Q-Are you then opposed to all
tariff taxation?
Al am all over opposed to it, for
the simple reason that it is unrepubH-
can, undemOcratic, unreasOnab bic
unjust, unbrOtherly, unkind and IN
christian.
Q-Do yon mean to discuss the tar
iff questions in this paper?
A-Oh no. We leave it here fol-
one infinitely more important at this
time.
Q-Have you any late news OF
banking operations tending to con
firm the position of Thomas Jeffer.
son that they (banks) are ''mOre
dangerous to the liberties of the peo
pie than a standing army" The de-
mocracy of Jefferson nowadays is
considerably below par, is it not?
A-Yes. The New York Tribune
claims to have Information that a
syndicate controlling $1S, 100000 O.
government bonds used two Nation
| al banks to create Il fictitious Strin
gency in order that the treasurer
might be induced to take bonds free
| ly, thereby throwing some millions
| of cash into the market for the pur
pose of relieving the alleged purpose
When money was ruling at + pei
cent and the daily supply was two
| ~ % l.
| ultimate demand these banks mark
ed up their rate to ) per cent, ant
| gave notice that in IA few days they
| would raise to 6per cent. This, will
the small excess above the legal re
serve, was used for all it was wortl
to create panicky feeling, and in
terest was run up to per cent.
| Q-What did Mr.. Window, the Z
S. Treasurer, do to allay the panicky
feeling gotten up by these banks?
| Aust what might have been eA
pected of Wall street gentleman
who has himself been engaged in tn
questionable operation of that fi
nous locality. He bought and pai(
for out of the peoples money, so,
100000 at $1.2S.
Q-How much money was made b.,
| these conspiratOrs out of the trans
action?
A-$2, 100000, which was divided
probably, between the syndicate
banks and United States Treasurer
OILS there any evidence that tn
stringency Banking phrase for scare
money! was purely fictitious?
Ayes. The money market wa
50 congested by the transaction tina
the rate of interest was in a few day
reduced to 4 per cent
| Q-What is the business name TO
such operations?
At is called ''financiering," AM
the man who devises such schem
and carries it out at one
steps into the line of promotion, an,
is likely to get the Treasury port
folio from the next Democratic or Re
publican President.
Q-Suppose such a financier, an
No. 1 Wall street success, shoul,
visit us, with a view, possibly, to in
vesting among us, how do you sup
pose we should behave ourselves?
A-"Raise the Devil generally, nj
doubt. We would announce his com
ing, call together the mighty ones il
the Chamber of Commerce, appoin
a committee with an orator and
brass band to sport him and too
him and sing him, perhaps, "Hail t.
Chief" etc., with orchestra accompa
nyment at the depot. We would cal
rage him behind splendid bays O
glorious grays, and thunder up Fift
and down Cherry, wine him, din
him, shine him, eat him and slee
him, ad nausean, and finally farewe
him. begging a hair of him for men