The advocate and Topeka tribune., 1893-09-27
BANK CURRENCY vs.. eREENBAOKs
The Linn County Farmer Calls Up the
Spirit Of Democracy.

D&Bs WlbQ mo UuC9 uOI0 WAlA0 0AtASA-
ticats my position with regard to the
British banking scheme unfortunately
grated in our democratic system in an
evil hour, and for an evil purpose, as JET
ferson held, to sssimilate our institutions
to the British system. But in view OF
the development Of fraud, extortion, rob-
berry and ruin praCticed by it, as given in
our last, it seems strange that any one
would persist in giving it another trial or
foistiDg it upon the country again. AS
Jefferson said, it is one Of those cases
where mercantile clsmor will prevail
over the sober judgment Of the masses.
It is an issue between hIgh.sounding
platitudes and loNd demands on the one
hand, and quiet unostentatious ConVic-
ton on the other. As ThRddeus Stevens,
chairman Of the committee Of ways and
means, in congress, in his speech in de-
Tense Of the bill creating the greenback
currency in 1852, said: "The bill has
produced q howl among the money
changers as hideous as that sent forth
by their Jewish cousins when they were
shut out Of the temple" For the bill, Of
course, would limit the circulation Of
banks and ipjure the trade Of banking,
and so "Othello's occupation would be
gone" And yet scarcely a statesman
Of much repute, from the beginning Of
the government to this day, certainly no
one who leaned to the side Of the people,
but has left his testimony against our
old-fashioned or our new-fangled bank
ing system ss false and fraudulent in
principle, and rotten and ruinous in prRC-
ECe. We have seen how the father Of
democracy in this country regarded it.
And all are aware Of his strong expires
sion 90 frequently quoted: "Thst / sim
cerely believe that banking institutions
are moro dangerous than standing
armies" They certainly have been with
as, And President Jackson repeatedly
waraed the country against increasing
the banks, and thus unduly expanding
the currency, as it stimulated Specula-
tion and enlarged the debts Of the peo-
pie. With prophets eye and patriots
tongue he admonishsd the country Of the
fatal consequences Of such q course, and
told il that these excesses would and
must end In ruin, as they did in 18S7-8-9
and 40. He foretold exactly what came
to pass-the overthrow Of thousands OF
firms and business men, the prostration
OF business generally, the perplexity Of
the poor, and the embarrassment Of the
rich, the fall Of prices, Want Of employ
msnt, low wages, derangement Of ex-
changes, confusion Of the currency, and
trouble and tribulation all around the
board. But the high.Ayers and bank ad-
vocates mooked and laughed at these
warnings, and derided their authors as
crosksrs calamity howlers had not bsen
invented then), who were behind the
spirit Of the age, and continued to swell
and enlarge the system till 1t burst and
involved themselves and the country in
one universal ruin, worse than that we
are now going through, and which can
bs traced back to the same philosophi-
cal cause, to-wlt: that the bankers, bond
holders, and interest cleaners have
sucked the country dry, and exhausted
Droduokion 40 that the latter must 90