The Caucasian. (Clinton, N.C.) 188?-1913, 1893-10-05

~ llou Thu>. r. Watson :

| want OF money, Congress should ds
its duty. aud make a large supply
The Constitution gives them the
power To do IT, and the power woald
never have been given if II ~as not
intended 10 be used
Why do the money kings objee,
To the making of more money by
congress3 Because this large sup
ply OF currency would loosen their
grip on the market They would
no longer dictate prices
Hence their opposition 10 money
made by the government.
What DO they want'
They want the government To- al
'ow them To make Il paper money Of
their own, SO that they can charge
the people what they like for the
use of it; and can call it in again
and destroy ii whenever they wish
TO create another money famine.
Therefore, We have the sickening
picture of money kings everywhere
claiming the rights to issue their
own paper money, while denying TO
the government similar power.
The Standard Oil Company is pay,
ing its laborers in their own paper.
The factory lords, who have been
protected" for one hundred years,
are forcing their employers to take
payment in the same way.
The New York Clearing House
and all its lesser satellites are flood
ing the market with private paper
money.
Gen. Gordon wants the banks of
Savannah to have "for SIX months, :"
the privilege of issuing their private
paper money.
Think Of Senator of Georgia
gravely proposing in the United
States Senate "six months" system
of finance,
Democrats, after denouncing Ma
tional Banks in their Campaign
Book of 1890, now report favorably
in the Senate, bill to add to the
power, profits and privileges of these
same banks. The Senate bill, in
troduced by Voorhees,, aud reported
favorably by the Democratic COM
mittee, proposes to give the national
banks $l9.OO0.O0O of paper money,
endorsed by the government.
The banks are to pay the govern
ment one dollar on the hundred for
the use of that money.
How much will we have to pay9
Think of the monstrous injustice
of the thing.
The government, as agent for all
the people, endorses the notes of
certain bankers, and then gives those
bankers the privilege of lending
those notes, at tremendous usury, to
the very people whose endorsement
made them valuable.
In other words, a IN, reliant, whose
credit is doubtful, comes along and
says to one whose credit is undoubt-
ed: ''1ou endorse my notes. If you
will do SO will give you one dollar
on the hundred for doing 500
The sound merchant endorses for
the unsound one. Then the unsound
merchant says to the sound one, Il
will lend you these notes if you will
pay me eight dollars on the hundred
for them"
And the sound merchant does it.
Every business man will say he
was fool to use his own paper upon
any such terms; and that if he keeps
on doing it he. will "bust."
The government is doing that very
thing for the bankeis and has been
doing it for twenty-five years.
And now that the Democrats are
In power they proposes to go further
than the Republican ever dared to
go. No wonder the whole country
except the Money Kings, is about to
"bust."
If the governments endorsement
on private paper money makes it
good, why should not the govern
ment make its own money! Look
on the pictureg
Every Democratic and Republican
statesman in the land wants Con-
gress to allow private persons and
corporations to make paper money,
yet none of them wants the govern
ment to do it! Why7 Because if
the government issues its own mon
ey, the millionaires and the banks
of issue will no longer control!
And our politicians dare not op-
pose the orders and interests of the
Money Kings. 1t is shameful
spectacle!
More money wanted everywhere
the government vested with power
to make it; and yet not daring to
make it, because the favored classes
want to keep the privilege of doing
sc to themselves.
The pampered favorites of class
legislation, grow insolent upon the
huge profits of special privileges,
now deny to the government the
right to govern; deny to the sover-
eign the sovereign right of making
money; and defy the people to take
away from them a power which they
hold by an illegal grant, but which