People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-09-01
AN INTERVIEW.
ONE THAT THE OLD PARTY
PAPERS DIDN'T PUBLISH.
The Present Banking System Doomed,
Says Congressman walker OF
Massachusetts,.

view puDllShed In the Boston Herald
for July 10, severely censurei the bank
presidents of Boston who had been in
teryiewed by the Herald. In the course
OF his remarks Congressman Walker,
who was leading member of the
coinage and banking committee during
the last session of congress, sal il:
when they propose to abolish the
small banks they show that they
haven't the slightest conception of the
almost universal public opinion of the
country which they also show from the
beginning to the end Of the inter
views"
"Why not educate the people and
try and overcome their prejudices with
reference to the nat onal bank sys-
temp? was asked by the reporter.
Because it would be the most fool
ish proceeding that men ever under
took 10 run counter to deep-seated and
All Pervading Prejudice
to reach an end that can be more
easily and better reached without Of
fendinE single existing prejudice.
Furthermore the effort overcome this
prejudice has now en- continued for
fifteen years, a d it has grown stronger
and more intense for every day during
the whole period"
How is it that this prejudice you
speak of has such a hold upon the
public?"
Because it is founded in truth. The
oppon nts of national banks, the
greenbacker and the free silver coin
a e advocate, tell the people that the
bankers are robbing the people by
buying bonds of the government upon
which they receive interest. Then
they take The bonds back to the gov
eminent and get 80 per cent of their
par value in money, which they loan,
and so receive int on that in adj
dit'on 10 the interest on the bonds.
This is literally true g"
Mr. Walker is gold bug and one of
the most p onounced enem es Of silver,
but light seems to have at last reached
him as to the sentiment of American
millions on the bank question:
think that the issue now really is
betw, en- returning to the old state
bank sys EN- of issuing bills and devils
ing OF national banking system =
But were you not little severe
when you compared the intelligence Of
these bank presidents, as far as these
interviews went, to the old farmers
dog barking at the woodchuck- hole?"
They are not single particle more
intelligent-in fact, not as intelligent
for the dog might have had some
ground for hope that the woodchuck
would come out to feed sEne time;
but this universal prejudice against
banks issuing not ? % bonds and thus
getting interest "A the bonds and on
the notes they issue on the bonds will
never come out of its hole so that these
bank Presidents can conquer it. |
stand by the intelligence of the old
farmers dog in this business"
"Why shouldn't l be we're? have
spent four years in congress trying to
secure
Sound Financial Legislation
In the tftv-frst congress | inspired
scores and hundreds of dispatches to
newspapers through the Washington
correspondents, stating what the
financial condition was, and that the
tnanciers of the country must take
some steps to help the committees on
coinage and banking to conquering
absurd financial opinion, that, if car.
ried out, would be fatal to the finances
of the country
What would you suggest these
bank presidents ought to do?"
''Do something beside repeat the
same old things that they have been
saying in every interview for the last
fifteen years"
There has not been "a single bank
president in this country who had pub
lie spirit enough to formulate a sys-
TEN of banking to take the
Place of the Present One
which is surely doomed, as every
tnaneier of the country admits, from
bon. John Sherman down"
81 want these Boston bank pnesi-
dent 10 formulate banking system.
or if they prefer, show where the
system is wrong which have epared
and which the banking committee of
the Fifty sec nd congress unanimously
reported for consideration. They owe
me mo- hing and am asking nothing
from them. They need pay no atten-
ton 10 my proposed system, but
think 1t would be no more than cour-
teous for them to do SO, as, fortunately
or unfortunately, stand as the official
head of great party in the house on
national finance. After men have
been trying for fifteen years to have a