The midland journal. (Rising Sun, Md.) 1885-1947, 1890-07-18

sDEAR SIR. 1t is advisable to do all in
your power 10 sustain such daily and week
ly newspapers, especially the agricultural
and religious press, as will oppose the is
suing Of greenbacl paper money, and that
you also withhold patronage or fayors from
all who will not oppose the government
issue Of money. Let the government issue
the coin and the banks issue the paper
money Of the country, for then we can bel
ter protect each other. To repeal the law
creating national banks or to restore to
circulation the government issue of money
will he to provide the people with money
and will, therefore, seriously affect your in
dividual profit as hankes and lenders. See
your members of congress at once, and
engage him to support our interest that we
may control legislation"
These two confidential circulars to bank
ers give the plainest kind of reasons why
the national bank scheme was one Of the
most damnable outrages eyer inflicted upon
the American people. 1t is no advantage
to the little country banks, for their interest
is all local, end if the community from
which they draw their business, were not
robbed through the shrinkage in the value
of products and property by the national
bank system giving to money monopoly
at the centres of trade the power over our
circulation, it would be very great gain
TO them, fact they ought to see. These
country banks do not refuse their allowance
of circulation.
The same Jew crowd of bankers who is
sued those circulars have kept up steady
war on silver and on the greenback. and in
1878 they persuaded our government 10 bor-
row $100,000,000 Of gold coin from them,
ostensibly for the purpose of redeeming the
greenbacks, giving them bonds for the gold
That gold is every dollar of it lying in the
Treasury yet, and the people are not only
paying interest on the bonds but heavy
premium also. They have kept up steady
war against silver, and every measure that
looked towards increasing the volume OF
money in circulation. And these are the
reasons why the heavy bankers do not Dor
row one per cent money from the govern
ment. They can make more by lowering
the prices Of property and increasing the
value of their bonds by curtailing circula-
ton. Every body knows that it is good
thing to borrow money for one per cent, but
these bankers say it is Improbable! From
this it can be pretty safely set down that
their profits are derived from some other
source and are enormous. Banks are
money loaners and the crop of money loan
ers is interest. If their business can be
managed so as to make that interest buy
twice the amount of property that it form
erly would that will he very profitable
management. This has been done and it is
effected through the power given by national
banks to the ''ring" 10 control the money of
the country, as pointed out ty the circulars
above quoted. The interest crop is row
worth double what it was formerly because
it will buy twice as much property, while
the farmers crops will not buy much more
than half the quantity of money they used
to.
We wish our readers to understand thu; t
the country banks which are comparatively
small, domestic institutions are not included
in this indictment. They merely pick up
crums that fall from the rich mems table,
and exert no more influence OF the ebb and
flow in the great money ocean of the nation
than the little mountain riyulets on The
Atlantic tides.