The Progress., 1893-07-22
AFTER The BOARD OF TRADE.
Some Tals on Finance Fr0mAno,he- Stand
rCi~t

SuaEy..Lr. La. July 49, le.'3.
Editor ru0,ru-~ Language would
fail to describe She measure embodied
in that diabolical transaction Of or
Board Of Trade. No; satisfied with
the advantage already obtained they
seek to ruin the business OF the com
try, bankrupt it, people and then
with the cry of suffering greeting
their ears from all parts of the strick-
en- country. they would but rejoice
Ike the monster Nero. at the shrleks
Of anguish and despair produced. l
wonder if Congress will get up an
other smelling committee to travel
over the country and 90 back to the
people with the cry reproduction
worked too hard, and orr merchants
declaring il is lazine55
Oh, you subsidized yresses and
Conglc-.mrn. now can ~ over pro
drction Of brrad7tU.i- plac@ millions
Of citizen, at the very threshold 81
starvation. or too muck cotton. wool
and flax would clOthe the people III
rags or leave them naked ard de7ti-
tute2 Congress can and must relieve
the country of its embarrassed con
dition. We know the caEse and we
will give few sketches of speeches
of eminent men, who express the
whole thing in a nut she'll, on tke bill
to 1emonetize silver.
Hon. J. J. Ingalls, says: If by any
process all bIsiness were compelled
to be transacted on coin lAas!S and
actual specie payments be enEoreed
the whole civilized world wonld be
bankrupt before sunseb. THERE'S not
coin enough in existence to s2eet TN
specie) one thousandth part OF the
commercial obligations of EaaDlElpss
Again he says we cannot disguise the
fact that we are on the verge of an
impending revolution. Old issues are
dead The people are arraying them-
selves on one side; the capitalist sry-
ing to force the world to adjust all
values to its own standard, and boast
ing of how much, toll and Sweat and
suffering could be crowded into a
gold dollar. and how that dollar cOuld
be most etfectnally placed beyond
their reach.
The Hon. Mr. Voorhees,, Senator
from Indiana, says: Nobody need bt
deceived. All the Widespread inhu
ences OF capital are organized ane
combined. The holders of securities
in America and Europe work togethe
they think and act in concert.
We are tired of feeding a class o
non-producers Ewing behind a priv
lege under the laws to rob honest in
dustry Of its profits.
Let us give onemore statement as t
onr trouble and we are done for tin
present. United States Treasure
Gilfllin in his annual report for 1SSl
in speaking OF the powers granite
banks, says the treasurer is MOI
firmly than ever of the cOnvictio
that the power now possessed by til
3 national banks of throwing up the
: circrlation at will is wrong in prime
pie, unnecessary and dangerous. III
|, der a sound system of currency IL
u circulation can be reduced only
the act Of the holders in presenti1
" it for redemption. Under the pre-
l. ent system the issuers can sudden
n and arbitrarily contract it 70 any e
tent, and it may be for their intere
It to do this when there is legitima
20 demand for all the currency in circ
d lation, and even more there may b
in fact, a profit to the banks in wit
=, drawing and selling their BON
e when the circulation is already de
=, cient. EQUALITY.