People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-10-14

rotary of the Treasury, and l want
you Democrats to hear it.:
The amount of public moneys deposit
ed with national banks on the first day
of January, 1865, was about $50, 600, 900.
During the year 1887, the deposit in
creased until in October it was $751;
000, 900, and in December it had swollen
tos$59, 100000. The highest point was
reached in April, 1888, when the amount
deposited was $61, 921, 1898, since which
time itshas decreased until on the 31st OF
October, 1889, it was $47, 900, 600.
Now, that is not what | say, but
what the Secretary of the. Treasury
says. He further condemns the
"favoritism which grants to certain
individuals such enormous sums of
money while it is paying 4 and 4!
per cent on its own bonds. Is it not
manifestly unfair to give the banks
the use of such money 2" Whose
money? The peoples money. The
banks have the privilege of charging
you 6 to s per cent on your own
money. (Cheering)
The national bankers not only get
interest on their bonds in gold, but
they have the use Of sixty millions of
your money which they can lend to
you again and exact interest to the
extent of 6 to per cent. [ have
heard it denied that the bankers get
that money at | per cent. I have
the law in may hand and dare any
Democrat to deny it.
By the report of Cleveland's Sec
rotary the l per cent which they
paid for the use of the money from
1868 to 1886 amounted to $67 ,O00,-
600. How much circulation did it
take to yield S67, 100000? Six bill
lion seven hundred million dollars.
Therefore they got $6,700,000,O00 at
per cent and loaned to you, or to
others more favored, at s per cent.
How much did that amount to
Five hundred and thirty-six million
dollars. Now, take the $67, 100000
from the $536,0OO,00O and you have
got $469,000,000 as clear profits that
the bankers made off the people. Is
it not shame
A Voice. Scandalous. (Applause.)
Do you wonder that you have
grown poor when over a thousand
million of your money is stricken
down at one stroke and four hundred
and fifty millions given away to ma
tional bankers to be compounded
every few months and loaned again
to the people? And when / show
you that Democrats and Republicans
are alike responsible the question for
you to decide is whether you will
continue in power men who have
been so false to your interests.
A voice. They must go. ZAP
plause.)
Mr.. Watson. When the Peoples
party comes and says, owe will
strike down this national bank rob-
berry; we will give free silver at the
ratio of sixteen to one; we will give
more currency to the people" how
can you hesitate to align yourselves
beneath the flag of the Peoples party
and march to victory? (Great ap-
plause.) They say that our plans
are wild, are visionary and can never
be accomplished. psyheal they say
that they D. ,th2. Gives civ FL reclerd'
7 NJ effers onian De
10y: I have shown you that
Jefferson denounced national banks
I have shown you that he was in ia
vor Of the free coinage Of silver. [
have shown you that he denounced
State banks'a as q Scheme of shavers
to swindle the people. Ihave there
fore shown you that Jeffersonian
Democracy cannot be found in their
platform but can be found in ours
and in ours alone.
Now, let us discuss the real reason
that you can never expect relief
from the Democratic party. They
tell you that you can never have q
2 per cent loan on your cotton, your
wheat or your land. Why? The
national bankers get money at | per
cent. The Democrats never said
that was wrong. They have re-
peatedly, in the meantime, put up
national bankers for the highest
offices in the gift Of the people. Ma
tional bankers are in control Of the
machinery of the Democratic party.
What is a bond? A paper prom
ise to pay. How is it made good ?
The government levies a tax on your
clothing and mine, or everything
that you consume and [ consume, to
pay interest on that bond until it be-
comes due, and then pays the princi-
pal. That is the reason. It's value
is derived from every acre of land,
every bushel Of wheat, every bale of
cotton, every stroke of labor. Why
should the bonds have all the cream
and these things that give value to
the bonds have none of the cream
(Laughter.) Why shonld not the
owner have as good chance as the
agent; the thing have as good a
chance as the thing representing
The bonds are good only by reason
Of the property behind them. So
you ought to say to the owner OF
that property, whether white or black,
rich or poor, that he is entitled to as