The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1894-02-09
GIVE US GOVERNMENT BANKS.

We have no quarrel with individuls
because of their occupations, says the
Mount Pleasant Qa-) Referendum, so
long as they follow honest commercial
usages, but we have serious differ
ence with certain institutions of the
law, prominent among which is the
national bank. Mark this assertion.
When a man becomes a national bank
er he ceases to be a good citizen. He
becomes a traitor to his patrons and to
the community at large, and is posi-
tive menace to prosperity. In this un-
reserved charge we do not exempt the
national banks of Mount Pleasant.
They were part and parcel of the foul
conspiracy to demonetize silver, and
did, at the command of the National
Bankers association, retire large
amount of their circulation to help
precipitate the panic that was falsely
attributed to an over supply of silver.
One of these banks alone sent SIS, 600
of its money to Washington and took
up the bonds held there for their
security; the other bank probably did
the same. And this was done when
our business men were pleading
with them for money to save
them from bankruptcy, offering
the best security, unquestioned by
the banks. One of these banks is reco9-
nized as a democratic institution, tho
other as republican, and a representa-
tive from each of them went together
among our business men and promi-
nent citizens, and solicited them to
sign petition to congress to repeal
the purchase clause in the Sherman
law. They represented to those they
asked to sign the infamous document:
that silver was causing the hard times
and panic, when they knew it was
false, for with their own hands they
had helped to produce the money
stringency by withdrawing their circu-
lation. They were the conspirators,
and every business firm in Mount
Pleasant, and every farmer in Henry
county, every producer and consumer,
every citizen, in fact, except the taker
of usury, has these same home banks
to thank for a larg, part of this local
depression. They are directly charge
able with much of the suffering in our
midst from lack of employment of Ia
borers, the natural consequences Of
privation, inadequate food, clothing
and fuel, added to the mental tortures
of destitution being sickness and death.
Every business man who is a borrow
er at these banks knows that his line
entirely cut off, but he was not told
that he was part of a conspiracy to
make him a bankrupt. He was not in
formed that the National Bankers as
sociation, whose powerrextends with
out question to every national bank in
the union, not a member of which
dares disobey it's mandates, had or
dered a uniform retirement of national
bank notes, the proportion of which
for such banks as those of Mount
Pleasan> was s25, 900. No, the cause of
the ''stringency' was kept profound
secret, and the damnable falsehood
constantly reiterated that it was silver,
too much silver, repeal the Sherman
law, and money will appear like jack
in-the-box. Silver was the cause of
the panic in one sense. Silver in a
measure was the friend of the people,
and stood in the way, slightly, of base
financial schemes, and to destroy the
white metal the panic was ordered on.
And it is still largely on, though II
large list of accounts have been bal.
anced already by change of owner
ships of property, and the panic is GO
ing to stay on until those $500, 900, 900
of bonds are issued. 1t will come off
of its own accord then and wait for the
proper conditions for another squeeze
We are told that our home bankers
could not safely disobey the orders of
the National Bankers associations; that
they would have been boycotted, and
compelled to redeem their notes in gold
and greenbacks as provided by law;
that their credits would have been re-
pudiated and line of exchange cut Off,
Perhaps this is true. We presume it il.
We would rather believe so than to
think our own townsmen guilty of
willingly participating in the infamous
conspiracy. But, nevertheless, the fact
remains that these same banks, the NJ
tional banks of Mount Pleasant, are a
curse to the community, and their man
ayers compelled in self-defense to 10
traitors to their patrons They are by
force of circumstances enemies to pros
perity and disloyal citizens
This "Panic Bulletin" was issue,i
March 12, 1898, by Bankers association,
to all national banks:
Dear Sir: The interests OF national
bankers require immediate financial legisia-
tion by congress Silver. silver certifcitea
and treasurJ notes mus. be retired and the
national bank notes upon a golt basis
made the only money This will require tho
authorization of from 500 0, % to $500
$1,000 of nds rs basis OF Cir
culatiol You will at retire oan
third OF your circulation and call in one half OF
your loans Be careful TO make monec
stringency felt among yorr patrons, especial =
among influential business men Advocate al
extra session Of congress for the repeal Of tn,
purchase clause OF the Sherman law and act
with the other banks OF your city IN securir';
a large petition to congress for its unvondl.
tional repeal per accompanr ing form Us,
personal influence with congressman and pa:'
ticularly let your wishes be known {,
your senators The future life OF national
banks as fixed and safe investments depend!
upon immediate action. tn re is an increas
ing sentiment in favor Of government lesa,
tender hotes and silver coinage.
Under tine name OF interest and
profit the masses pay to a few FIVE
sixths of all they create. This is start
ling, but it is certainly true that labor
receives OF the average but sixteen per
cent. of what the final consumer pays
for its products Or, to put it another
way, men labor five days to support
idle rich and unnecessary middle men
for the privilege of getting what they
create on the sixth dav. The working
people are iulus-Comirg Nation