The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1892-05-28
DARK LANTERN LEGISLATION.
Republican Favoriteim and Monopoly
Rascality Discussed.
BY J. L. DAVIS.


Ever since the decentralization OF
silver, in 1873, the metal has had
earnest workers in Congress for it's
restoration to legal money with
the same debt-paying power it had
from the foundation of our govern
ment down to that dark Lantern"
act which destroyed it. >. Their OPP
ponents have always been the mon
eyed sharks of the East. In order
that we may know who those vam-
pires are that are sucking the ma
TONS blood, and how they have
been created, let US 60 through a
few chapters Of our history.
In 1861, when the war of the re-
bellion broke out, gold and silver
were the legal money of the coun-
try, as they always had been since
they were born with US as a nation.
The nation at that time, as handed
down to the care of the republican
party by an economic democratic
administration, was in a healthy
and prosperous condition. The cur
rency of the country was not hidden
in the vaults at Washington from
the sight and use of the public, but
it was circulating through the ave-
nues of trade and our industries,
stimulating them to healthy and
remunerative action. We had pub
lie debt of less than $91 10000
The sea as we'll as the land spoke
of our wealth and prosperity, as
over it's turbulent bosom two-thirds
Of our exports and imports were
being carried by American vessels.
The war created heavy expense
on our country. In order to bear
this great burden, the government
was obliged to borrow money. To
meet the nations demands the
moneyed sharks of the East organ
lied some of the most disgraceful
schemes to rob our country that
were ever instituted against an
honest and civilized nation. Their
organized method of "helping" the
government developed to such pro-
portions that, in 1864, we paid the
sharks 50. lin greenbacks for every
dollar of gold we borrowed of them.
Up to this time both gold and sill
yer were selling at premium on
the markets, but the metals had
disappeared from circulation and
had accumulated into the hands of
a few who were bleeding the gov
eminent for every cent of premium
they could get out of her before
they would give a dollar of it up.
At this juncture, Salmon P. Chase,
then secretary of the treasury, see
ing for the first time the financial
predicament of the country, became
alarmed and declined to continue
to be the direct channel through
which the nations wealth was flow
ing into the hands of a few.
In order to perpetuate their rob-
bling schemes now, more refined
methods had to be adopted, and as
a result national banks and big
companies, to build railroads across
the continent, were organized. With
the assistance of Congress those
corporations prospered.
The national banks came into ex-
istence in 1854. The banking
scheme was a great improvement
over the plan adopted in 1861 to
laid" the government in bearing
her great burden of expenditures.
The old style was very embarrass-
ing. When those good" men Of
fered the government their financial
services for the "small" pittance Of
from % per cent to 200 per cent
bounty for their accommodation,
the secretary of the treasury would
find objections and try to jew them
down, just as though he owned the
wealth of the nation himself. So
pronounced had the secretary's at
titude grown against the money
lenders that in 1864 he told them
before he would raise the price of
gold another cent the governments
credit would be cut up into inch
slips of paper on which the .Ameri-
can eagle would be plainly stamped,
and these notes would circulate
through the nation, under specified
regulations, as currency until the
government would be able to redeem
hem, &c.
Under the national banking
scheme these snubs could be avoided
md the same ends attained, only
On broader scale. BY lending the
government 100000 according to
'tipulations regulating natural
banks, a bank could be incorporated.
The nation would pay interest on
he 100000 and issue the company
100000 in national bank notes.
With these 10000 the banking
would 60 into the bank
ng business and lend the public
his kind Of money at rates of in
crest ranging from-7 to 10 per cent,
according to the locality they would
,e doing business in.
A glance at the above is enough
o illustrate to the reader that by
ending the government 100000,
he bankers were legally authorized