The farmers' union. (Memphis, Mo.) 1891-1895, 1891-12-10


sacrificing any OF the interest income.
and receive back 90 pep cent. of the
bonds in bank currency to loan to the
people, as bankers. This gave the
bankers two interest incomes from one
investment. With >30,Goo III gold they
could become the happy owners of
800. 900 of Understanding bonds and
$50. 900 of currency, ali free from taxes
under State or local authority" This
was big bonanza. or. Ill tact. two
bonanzas combined. This law was
passed during one OF the darkest pc
riols OF the war, when patriots. states
men, generals, soldiers and people
were straining every nerve to save the
country, 1t ponnced upon its prey
like panther VIXEN the victim was
bleeding at every pore. Moulton's
History of American Finance. page III, ,
states the case as follows;
Mr.. Sherman now introduced the
national bank bill. After q leng hy
debate, it passed the Senate by vote
of 23 to 2l In the meantime there had
been several bills for tie same purpose
introduced and referred to the commit
tee in the House. When the Senate
bill come down it WAS not referred. as
usual. but brought before the house
without consi leration in committee
with other similar bills. 1t was not
discussed in Committee OF the Whole.
but under n motion to refer. which cut
off all amendments. the friends of the
bill debated its general merits. When
by parliamen arv tactics i. was forced
to final vote, i passed under the gag
rule Of the previous question by vote
of IS to Ga
And thus was fulfilled the prediction
of Senator Thomas Benton. when. on
the victory of President jackson over
the United States Bank Benton said
that Jackson had beaten the hank yet
the bank lower was not conquered,
but. like a royal tiger" driven to the
jungles. he will return again. lie re-
turned in 1853 to prey upon the pros
trate form of bleeding Republic,
when neither President, Congress nor
people had the power to resist his
coming. With 1900 whells and an
| aggregate ca, ital Of 800, 900, 900,
much of it furnished by the govern
ment. this :'EoTAL TIGER" has been for
| twenty-five years proving upon the
! fortunes and liberties of tie people,
| through this system Of legalized rob
| berry.
Seven times the people of the United
I States have voted on this national
bank question at Presidential elec-
tions. Five tins ont of :hc seven they
declared, by their votes. thar - IA
| tional bank is unconstitutional and
dangerous to liberty" That senti
ment was regular plank in Demo
cratic platforms prior to 1860, and five
times that platform was approved by
the people at the Presidential elec
tions.
Peter Cooper tells us that. in 1893
President Washington signed resolu
tion of the American Senate declaring
! that a holder of bank stock sEould not
have seat in Congress. Aud wher
john Quincy Adams was elected Il
Congress he refused to qualify until h.
had disposed OF his bank stock. Ani
yet Senator Sherman is in favor of tn,
national banking system. and his part,
regularly send to the United State
Senate numerous bank presidents, jus
as if this great country has no Other
interests worth attention except stool
gambling, coupon clipping and usur,
collecting
And at this moment the President o
the United States Senate IS not only
banker, but q BRITISH BANKER. doing
business in London as Morton. Ros
& Co. And further. should Presiden
Harrison die. we would have LnNDn,
BANKER AS PRESIDENT OF THE tSITEl
STATES, Verify Thomas Jefferson wa
right when he said Banking institu
tions are more dangerous than standing
| armies.
The exception clause on the green
back bill and national banking la,
"conspiracies' were enacted during tn
administration of President Lincoln.
have shown that they were perpetrate'
by the money power and the copper
heads while Mr.. Lincoln and the con-,
try were so terribly pressed by til
rebels and the cxigencies of the wa
that Mr.. Lincoln had no option or 1t
sponsibility in the matter. He sui
mitted to them under coercion: he al
. proved them to placatc one enem
while he battled with another: bein
unable, as he himself said. on one occ:
sion, to fight two wars at once. II
: submitted to the inevitable, as Wasl
: ington. jefferson. Adams, Henry an
: other champions of liberty in their da
submitted to the existence of SLAYER
and the slave trade because there W.
no other alternative,
| 1t will be remembered that Seer
: tarv Chase favored the legal tel
| der law. and that it require
t | several days Of meetings an
: threats Of financial coercion by IL
] bank delegates" who remained
/ Washing on" after the exceptic
: clause, to induce Mr.. Chase to recon
< ,hend the bank law. Mr.. Chase live
/ long enough to bitterly regret the pa
: he took in the matter, and is reportt
l as expressing himself as follows:
: My agency III procuring the pas
6 age of the national hank act was II
e greatest financial mistake of my lii
!, It has built up n monopoly that affec
). every in.erest in the country.
should he repealed. But before til
J, can he accomplished, the people w
:, be arrayed on one side and the ban
, on the other, in contest such as ,
- have never seen in this countrv.-S:
~ mon ?. Chase.
~ SENATOR ISGALLS ON GOLD.
d No people in a great emergency ev
e found faithful ally in gold. 1t is t
e most cowardly and treacherous of :
IS metals. 1t makes no treaty it does IL
e break. 1t has no friend it does II
If sooner or later betray. Armies a,
;e navies are not maintained by gold.
l. times of panic and calamity, shipwre
and disaster, it becomes the agent al
Sc minister of ruin. No nation ever foug
E. great war by the aid of gold. On t
d contrary, in the crisis OF the create
f. peril, it becomes an enemy more pote
at than the foe in the field; but when t
If battle is won and peace has be
a secured gold reappears and claims t
le fruits of victory. In our own civil W
in it is doubtful if the gold of New Yo
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