Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1891-05-02

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reds of thousands Of soldiers to de-
fend the liberties that had been en-
trusted to her keeping. But where
should she derive means forj this
vast expenditure; where in her dis
tress, indeed, could the government
look except to her own monied
classes? Did not Wall street
rejoice in the declaration of war
and loudly protest against the Sc
cession of the slave states? Wall
street would come to the rescue and
pour out her treasures in defense of
the government. So said Justice.
So said patriotism. But history
tells US quite another story. Meth
er American nor foreign capitalists
would, at this time loan us any
money upon any reasonable terms.
True, the banks would loan their
notes at twenty per cent discount,
that is they would exchange $50
Of their notes for 500 in govern
ment bonds bearing high rate of
interest, payable in gold and backed
by the government; but they had
not the power to make even these
rates good in the hand of the sold
Ter. Foreign capitalists would not,
at that time, loan US any money, for
they hoped and expected to see the
republic rent in twain and the stars
Of our liberty sink in night Of an
archy and blood. Words are made
quate to express the helpless condi=
ton of the country and it would be
almost impossible to give credence
to the demands of avarice were not
it's authenticity sustained by the
most reliable records. From Apple
tons encyclopedia for 1851, page
296, we learn that the money kings
Of Wall street graciously rendered
loans to the government in her dis
tress at from "a to SO per cent
these same money kings whom to-
day we hear quoted as those gener-
Gus, patriotic capitalists. Why,
slrs, the south itself was not more
formidable and determined in the
preservation of its slave property
than were these shylocks in their
determination to wrench from the
government in its distress such
usury as would have put to shame
their world renowned ancestors. On
the one hand appeared the bristling
steel Of the enemy; on the other,
disguised as friend, and urging on
the war, stood Shylock clutching
his gold and demanding therefor a
rate of interest that would draw the
life blood of the nation more effect
ually than the bullets Of southern
foe. But what was Shylock to do?
The gold and silver of the country
were in his possession and they
would serve his purposes unless he
could loan to the government at ex-
orbitant rates of interest. Know
ing the necessities of the government
these shylocks determined to persist
in their demands, for they have
planned through the misfortune of
the government to enrich and ag-
grandize themselves. This was why
they rejoiced while others wept.
This was why the tidings of war
brought gladness to their hearts.
By boarding the gold and silver Of
the country they thought to compel
the government to accede to their
demands and while the soldier vas
giving his life on the battle field
they would gather to themselves
riches and power. But the great
leader, Lincoln, was not to be baffled.
He loved the people better than
and justice better than OPP
preston. From the constitution he
read: Congress shall have power
to declare war;" Again he read:
Congress shall have power to coin
Then to the world he de-
clared that congress would coin
money and that the government, at
whose head stood the fearless Lin
coin would not submit to the infa-
nous demand of Shylock. Follow
ing this declaration came the enact
ment of July 18th 1851 and Februa-
~ 18th 1852 authorizing the issue
Of $6O,OOO,0O0 treasury notes, not
bearing interest and payable for all
debts public and private. These
first issues constitute the demand
notes, which unlike all subsequent
issues did not contain the exception
clause, consequently they have al
ways remained at par with gold and
establish the fact had it not been
for the exception clause on the |
yreenback they would have always
remained at par with gold. Wher-
ever gold went these demand notes
could 60, even INTO the Golfers of the |
bond .hOlders. They Maid his inter-