The midland journal. (Rising Sun, Md.) 1885-1947, 1893-11-10
Gold Bug Legislation VS.. the People

IL our Wall street government felt secure
of its hold, its favorite Financial Policy
would be to fund the silver certificates. and
the legal tenders issued under the Sherman
law and :he greenbacks, In all about $780,
100000, into gold bonds and destroy the
currency. Then sell at auction the silver
coins and bullion in the subtreasuries,
which the currency represents, for gold.
This would saddle an additional public debt
on the nation to that amount drawing 3 or
81 per cent interest. The treasury gold
would be at the call of the banks. The
national banks would then have full swing
and would be the sole issuers of all the
money in circulation except about $3.50
100000 silver and other subsidy coins.
The banks then could issue just as much
currency as would answer their purpose in
drawing interest from the public. They
would exercise despotic power over the
nation not surpassed by that of the Gar of
Russia.
The policy of the people who are alive to
this threatened usurpation of the functions
of government by the money power, would
issue, in place of bonds bearing interest that
could only be held by the wealthy class,
legal tender green backs without that
exception" clause which has ever been the
blernish of the present issue-to take the
place of the currency at present in circula.
ton, and have but one kind ofpaper money,
and that legal tender for all debts, public
and private, and for all taxes and revenues
of the government.
This truly American money circulated
through the machinery of government bankS
TO take the place of the present skin em
banks known as national banks" which
are mere private banks with pretense If
government upervision-would release the
great wealth producing classes from the
tyranny of the present usury system of
banking, and secure depositors from any
possibility of loss by thieving bank officials
who under present banking conditions,
speculate and gamble with depositors'
money.
The great body of the people, those en-
gagged in honest business and industrial
pursuits, would then be protected from the
gambling, specializing class who at present
have the money of the nation at their call,
through the great banks established at the
large business centres" The stock and
produce gambling which is carried ON in
Chambers of Commerce, Produce and other
Exchanges" would be eliminated from the
honest business of the country and be driven
to conduct their nefarious traffic through
private banks and brokers. They would be
confined, as other gambling establishments
are, to their own resources,
As the finances of the nation are at present
managed through system of corporation
banks, the gambling associations calling
themselves boards of trade, produce ex-
changes, ETC., etc., are given free access to
the entire circulating medium and the bank
credit of the country, and are the most
formidable competitors of honest business,
for the use of the money which should be
protected from interference by spectators.
Private banks, such as our national
banks, state banks, brokers, etc., with the
swarms Of spectators and gamblers which
hover abort them, are parasites, leeches and
vampires, fastened on honest wealth produc.
ing business, constantly drawing the blood
from its veins. Honest business and honest
people need nothing else SO badly as release
from these parasites. The people must
strike for such an Independent system Of
finance, under government control and free
from the horde of usurers, gamblers and
spectators which are devouring their
substance.