Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1890-11-20
The Money Panic.
sph mo. ) Herald. 4


ern cities Is a very serious thing no
one will endeavor to deny, and the |
effect it may have on business in the |
West is unknownable because none |
but few wreckers know where the |
panic is going to end. To all appear
anees everything was in a most ex-
cellent condition for the revival of
business so far as the United States
are concerned and if we were entirely
cut loose from the influence of Eng
lish finances a great revival of bust
neps would certainly occur.
But it must now be evident to every
careful observer that the money pow
er of the world-the English house
of Rothchllds determined to
wreck the whole civilized world in
order to double their great wealth.
Just before the election we were on
the eve of a disastrous panic which
was only postponed by the extraordi-
nary efforts Of the national treasury
by putting into circulation all that
it possibly could. But that did not.
answer the purpose very long. The
Rothschilds are withdrawing their
money from the eastern cities and as
they have caused a panic in stocks
and bonds these securities are coming
by millions from Europe and being
sold at ruinously low figures. the
money being returned to Europe.
The general trade never was better
than 1t now is in the United States
and business generally was on the
eve of a great boom, but the great
merchants of the east are deprived of
the money necessary to carry on their
business and in some cases as much
as $50 per cent is paid for money.
Think of it! $50 per cent for money!
It all comes of the credit system;
and there is absolutely no need of a
credit system on so large scale.
The railroads, the telegraph, the post
Office, all government business, water
works, gas. ARE all carried on by a
cash system and they are good ex-
amples to follow.
But the country Is into the panic
and the misfortune is that the only
efforts at adopting a cash system are
during the panics. Now is the tune
that credit is needed in order to gel
out of the squeeze. It is claimed
however, that 1t will only be rich
! mans panic and will not extend t.
the whole country, but business men
will be careful about accepting such
assurance. It may all blow over in ;
few days and it may not.
=. The st. Joe. Herald suggest thu
: circulation of the following petition
, PETITION TO CONGRESS.
4 To the Congress Of the United States
n Your petitioners represent that the.
q are not satisfied with all the condit
o ions of our circulating mediums, es
s pecially with portions of the new lay
a known as the silver bill, and there
Y fore we demand of our Represents
Y tives and Senators in the congress
Il that they use their best efforts IN pre-
o curing the passage of new law, an,
d the repeal of all laws inconsisten
10 Herewith, to the following effect:
b All issues for the purposes of bein
4. used as a circulating medium to b
, made by the national goyernmen
d and to DO full legal tender, wIthou
le any exceptions whatever. Such Gil
N culatlng mediums to be of gold, silve
ct and paper, in such proportions as til
d supply of the metals viii warran
" and an abundant supply of both pa
d per and coin to answer the actual d.
S: mands of the people and enable thel
le to do business on a cash basis. w
rs demand free coinage of silver wit
~ such provisions as will stop pillln
up coin in the treasury vaults, b.
yond the necessity of actual redeml
!: ton purposes. We also demand TIL
- the law creating a fractional pap'
currency be restored.
or Cut the above out, circulate it an
an have it signed by every legal vot'
you can induce to sign it, and retul
of it to the editor of The HERALD, wi
so will forward it with other documen
er to our Representatives and Senate
N. in the congress and urge them
,lv editorials and otherwise to secure t
ID enactment of laws in accord ther
He with