The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-10-11

"A
and accumulated unheard OF and III
Thought OF fortunes by having a col
lner In gold. but again. the enormit
OF the crime did not end with Shy
locks power to rob the people throug
interest and Import duties Bixtee
years, the exception clause had do
pre- ciated the treasury notes. Thi
was part of Shylock's scheme.
know you have been told by tho poi
ular press and orators OF every reaso
under heaven except the right one
why the greenback was deprecated
They told you one great reason was
because so many were issued 1t wa
feared the government would not b
able to redeem them; the depreciatio
caused the Issue of SO many NOR
Treasury notes, and then. turnin
them into bonded debt made the wa
cost just double aB much ns it Other
wise would have cost. But what di
Shylock care?
Why, II the best man in Amerlc
was to give bis notes and then reeus
to receive them for debts due to him
self. could it have any other efrec
than TO depreciate themf Now, VIII.
did Shylock wish to depreciate TIL
greenbackt Simply to enable him /,
buy moro OF them with his gold, AM
with the greenbacks buy governmen
bonds at par, with interest payable il
gold, and as we will show farther on
the bonds themselves also payable IL
gold. Let us take view of the sta
alton: 1t Is A. ID. 1864. The country
is desolated by war, scarcely family
In which death has not entered
Fathers. husbands, brothers and sons
have been stricken down at the hattie
lof Spottsylvania or the Wilderne S.
and there is mourning throughout the
land. The wall OF tho widow and the
cry OF the fatherless are heard alike IN
the homes of aflluence aud poverty
Mothers wiring their hands and cry
aloud in All agony of grief. an only
son has been smitten down in tho
battle of The Wilder ness. or perhaps 0
liirst-born, with shattered limbs lies
writhing and delirlous in distant
hospital.
The pail of death is over the land. A
cargo of goods has entered one Of our
ports, government requlres the duty
to be paid in gold. The importer pro-
ceeds at once to Walt street, which,
after the exception clause was placed
ON the national notes, became the
great gold market OF the earth, and as
Judge Kelley justly said. 1T invited
from all the money centres OF the
world the most voracious vampires To
come here and fatten upon the life
blood OF the American people,"
Ihither our Importer wends his way,
and us IL Glanced TO DO the month of
July, 1854 he found he must pay S2S5.
i'm legal tender money for 800 In
gold. But there Is 10 alternatives; he
pays tho required sum. adds that much
more to the price OF his goods. and
turns over the 800 In gold to the Gus
~. h..s~ IN ..sh l.,I.V l2
IL In the United States Treasury.
There we leave our importer, " no hns
been compelled to add to the price of
bis goods not only tie import duty
but also the enormous premium on
gold. Honest Dollar" its
purchasing power was certainly great
enough. even for Cleveland and Sena.
tor Gray.
Let us now return to our Honest
Dollar" Wall street broker, and see
how he has been affected by the calam.
ity OF war. The $685. in treasury notes
which the importer paid him for the
al00 in gold, he Immediately invests
IN government bonds ut face value.
Ills next step Is to draw interest on
his bonds. for the act of February 18th.
1862. stipulated that his interest
should rot only be paid In gold, but In
advance. Having draw Ills gold in
terest in advance he Is prepared on
the morrow to sell it to the next i'm.
porter, and with ench exchange no
clears s1s5 on every 500 In gold.
Shall We over cease to extul the pa.
triotism OF those Wall street capital
ists2 Is 1t any wonder Cleveland and
Gray wish to increase the pur-
chasing power OF their dollar. The
next scheme for robbing the people
was the national bank act that passed
in 1858. OF all the villainous schemes
OF robbery ever practiced upon any
people, our national banking system
stands pre- eminent.
BY it the banker was permitted to-
invest his treasury notes In govern
ment bonds at face value. upon these
bonds he not only drew gold interest
in advance, but by means OF the bank
he actually had 80 per cent. OF
their value returned to him in the
form OF national bank notes, and 10 is
with these notes he carries on his
banking business loaning them out
upon the most advantageous terms.
Dnthe one hand he draws interest from
he government, en- the other, from
he same investment, he draws inter
Est FROM his individual debtors. For In
stance, you borrow 500 from your
national banker; he graciously loans it
to you at ten per cent. In advance
when actually you get but 800. With
This 500 you supply your family with
food and clothing. upon large part
Of which, as we have already shown,
you pay an import duty.
This import duty, remember. went
Into the treasury, and II ON thence paid
on this same bankers bonds
Now, IL IL not clear that your banker
has been paid two interests upon the
same money, ono directly upon the
hank notes. presented him by the gov.
eminent, which he loaned to yuu at
ten per cent. interest. the other indi-
rectly as interest on his bonds, which
was paid with the import duty that
lad been added to the price of your
goods Now. it Is not for me to con
Tenn indiyiduals for taking advantage
)f this Infamous law, but we do in
most unqualified terms deuounce
such n sysLam OF public robbery.
None but thu wealthy classes nre
lble to enter upon this profitable bank
nE business. II IL is proper for tie
TO make the business of
he wealthy thus lucrative, is it not
equally Just to give like ndvaBtage
10 the poorer classes, but YOU see tue
has been making the
-ich richer, and the poor poorer by
aw. and now Cleveland and Senator
jray by their honest money" policy
give to ueurers and gamblers honest
!; oney. and to honest tabor, poverty
md soup houses. DIR. j. B. NEIGH.
Wilmington, Del.