Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-07-08
IOWA BANKERS
Their HypoerItlcal Soiicitude For Widows
and Orphans.

Their HypOeritlcal SoiicItude For widows
and Orphans.
Mr.. Joseph Sampson, of Sioux CITY.
delivered an address before the conven-
ton OF Iowa bankers, which met in
that city recently, on the subject of
silver, in the course of which he said:
me maintenance of American credit
through a single standard OF value which
snail be recognized by all nations seems
not only desirable but necessary, because
many of our greatest enterprises giving
employment to thousands of workingmen
can secure capital at exceedingly low rates
OF interest only so long as European lenders
can feel secure that the same quantity and
Quality of money lent will be returned
They lend US their gold only upon condition
that gold of equal weight and fineness shall
be repaid. Only by international agree
ments as to what may be considered legal
tender in lieu thereof, can existing or future
contracts be changed
This is briefly the position taken by
the bankers and capitalists of the coun-
try and the politicians who draw their
inspirations from Wall street.
If the United States must ever be
subject in its financial policy to the
colossal aggregation of usurers and
rack renters that center at Lombard
street, London, the blood of our fathers
will have been shed in vain England
is VIGOROUSLY the creditor nation of the
world; her usurerS and landed lords
have made of Erin monument of pov-
erty and misery known of all the world.
and the streets of London are wont to
resound with the tread of men. women
and children marching and crying for
bread or blood!" Not content with the
ruin wrought at home they are reach
ing out for all the nations of the
earth; but the authority of their
hereditary monarchs and rotten aristoc-
racy had been repudiated, force had
been resorted to and ANONYMOUSLY
failed, and some other method had to
be devised to gain control over this
proud republic. That method was
found in the single gold standard finan-
cial system, which by the aid of foreign
gold and domestic traitors was fastened
upon us. 1t is high time, indeed, for
the new declaration of independence.
But we quote again from Mr.. SAMPSON:
Depreciation of our cul rency by unlimited
coinage of silver would be first discerned by
the rich who could arrange their affairs and
investments so as to protect themselves
Distraction. uncertainty and panicky feel.
Ing always gives to the shrewd and far
sighted the largest opportunities for gain
Inc losers In such a period would be the
widows and orphans, with insurance policies
paid at discount of l. to 20 per cont saw
ings bank depostors who put in bank gold
wages and who must take back funds with
reduced purchasing power; salaried en-
ployes and wage workers who could not get
larger pay, but whose living expenses would
be increased
This is another typical argument of
the opponents of free coinage of silver.
The solicitude of these philanthropic
bankers for the poor widows aad
orphans and salaried employees is very
touching. AS for themselves, unlimit-
ed coinage would only enlarge their
opportunities for gain" but they are
disinterestedly opposing it in the inter
est of the poor widows and orphans"
Out upon such hypocrisy! The bankers
have as much right to urge measures in
their own interest as any body, but they
should come out like men and not fight
like towards over the shoulders of wild.
ows and orphans.
The single standard is in the interest
OF bankers and other money loaners,
and solely in their interest. Their in
terests are not the interest of the
wealth-producers never were and
never will be, and it is high time the
American people were realizing 1t. So
long as congressman, presidents and
treasurers allow those who deal in
money to dictate the course to be pur-
sued In financial affairs, so long will
the wealth-producers be slaves to the
wealth abSOrbers-Iowa Trihnne