The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1891-03-13


in lieu Of the natsOnal bank notes, and In suffi-
cent volume, IN conjunction with gold and silver,
to do the business of the country ON a cash
basis
That the sub-treasury bill of the National
Farmers Alliance and industrial Union now
pending in congress, Of some better system for
| the relief of the struggling masses be passed.
| Unanimously adopted.
For the Faith That is Within Us.
How does the financial system of this
country accord with the voice of our
| fathers? What were the views of the
pure and patriotic statesmen of the past
| on finance? How did they regard the
national banking system in their day?
The following resolution is found in
the Democratic platform continuously
from 1910 to 1860:
"Resolued, That Congress has no power TO
| charter a United States bank; that we believe
| such an institution Is Of deadly hostility to the
| best interests Of the country, dangerous to re-
| publican institutions and the liberties of the
/ people. and calculated to place the business of
/ the country within the control of q concentrated
money power above the laws and will of the
! people"
| Thomas Jefferson, in a letter to Mr.
! Gallatin said: "This national banking
institution is one of most deadly hos
tilitiCs against the principles and form of
our constitution. / deem no govern
ment safe which is under the vassalage
of any self constituted authorities, or
any other authority than that of the ma
| ton or its regular functionairies. What
an obstruction could these banks be in
time of war! They might dictate to us
the peace we should accept, or with
draw their aid. Ought we to give fur
ther growth 10 an institution SO power
full, so hostile? That it is hostile we
| know"
Andrew jackson in his farewell ad-
dress, speaking of the United States
bank, said: ave are not left to conjec-
ture how the moneyed power thus or
| ganized and with such weapon in its
hands would be likely to use it. The
distress and alarm which pervaded and
agitated the whole country, when the
bank of the United States waged war
| upon the people, in order to compel
! them to submit TO its demands, cannot
easily be forgotten. The ruthless and
unsparing temper with which whole
cities and communities were oppressed,
individuals impoverished and ruined,
and scene of cheerful prosperity sud-
denly changed into one of gloom and
dependency, ought to be indelibly i'm.
pressed on the memory OF the people of
the United States.
And at another time Old Hickory said:
''The question is distinctly presented,
| whether the people of the United States
are to govern, through representatives
| chosen by their unbiased suffrages, or
| whether the power and money Of a
great corporation are to be secretly ex-
1 tod 70 inf thar ft.Ao Il
| control their decisions. 1t must now be
determined whether the bank is to have
| its candidates for all the offices in the
country, from the highest to the lowest,
| or whether candidates OH both sides OF
| political questions shall be brought for
ward as heretofore and supported by the
usual means"
Thomas III. Benton, in the United
States senate, said: "The bank is in the
field enlisted for the war, battering
ram-not to beat the walls of hostile
cities, but to beat down The citadel of
American liberty; to command the cleo
tions and elect bank president by dInt
| of bank power. The bank Is in the field,
a combatant, and fearful and tre-
mendous one. If it succeeds, there is
an end of American liberty and end of
the republic"
John g. Calhoun in the U. S. senate,
said: "Place the money power in the
hands of combination of few indi.
viduals, and they, by expanding or con-
tracing the currency may rise or sink
| prices at pleasure, and by purchasing
when at the greatest elevation, may
command the whole property and in
dustry of the community and control its
| fiscal operations. The banking system
concentrates and places this power in
the hands of those who control it.
Never was there an engine invented bet
| ter calculated 10 place the destiny of
the many in the hands of the few, or
less favorable to that equality and indie
pendence, which lies at the bottom Of
our free institutions"
| President Lincoln wrote in 1865 that
"As q result of the war, corporations
have been enthroned and an era of cor
| ruption in high places will follow, and
| the money power of this country will
endeayor to prolong its reig3 by working
upon the prejudices of the people until
all wealth is aggregated in few hands
and the republic is destroyed.
II feel at this time more anxiety for
the safety of my country than ever be-
fore. even in the midst of war. God
grant that my fear may prove ground
| less"
Salmon P. Chase, the father of the
system, said: my agency in procuring
the passage of the national banking act
was the greatest financial mistake of my
life. 1t has built monopoly that effects
every interest ia the country. 1t should
be repealed, but before this can be ac-
complished the people will be arrayed
on one side aud the banks on the other.
in a contest such as we have never seen
in this country" In the light of such
authority we'll may We pause-to ask
whether we are drifting?
The warning given 10 the people by
these statesmen has not been needed
but almost literally verified in the situa-
ton of to-day. Aggregated wealth and
monopolistic power under the fostering
care of the national government is
| threatening our system of free institu-
lions and making rapid entertainments
upon the sovereignty of the people.
| To-day one-twentieth of one per cent.
of our population own three fourths of
the entire wealth of the nation.
In 1860. there were only two million
aires in the United States, and to-day
there are thirty-one thousand.
Then no corporation controlled more
than three hundred miles Of railroad,
and to-day the Richmond Terminal, un.
der John Ill. Inman, owns and controls
nine thousand miles of railroads. Jay
Gould and the Baltimore and Ohio are
scooping up the balance.
All monopolies are against public pol
| icy, as being inimical to the interests of
the people, and such immense CONSOLE
dation of lines Of transportation pre-.
vents that healthful competition so con-
ducive to the interests of the people who
produce the nations wealth. The pol
icy OF the Alliance is to place proper
checks upon such dangerous power in
which the public intreSts are involved.
The methods proposed are by legislative
regulation if possible. If not, then that
the government own and control the
roads, as now obtains in the mail service.
Alliance Resolutions.
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