Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-31
WARMERS ArrnAL.
A Ringing Letter Against the Carr
Iisla Scheme.

A Ringing Letter Against the Carr
Isle scheme.
Washington. Dec. aO,-The following
powerful appeal to the people against
the currency schsme ponding before
congress has been issued By Cen A. j.
Warner, president OF the American BIZ
Metallic league:
An Appeal to the People Against the
Currency Scheme NOW Before Con-
gress ny the American Bi-Metallic
League.
The Bill now before congress to radl-
cally change our currency system by
destroying the greennack and coin note
over to the banks the entire control Of
the paper currency OF the United States
is the most radical measure ever pre-
scented to the countIy-at any rate,
since the covert act OF demonotizlng
silver In 1873, SO sweeping and radical
a change In the monetary system OF
any country canont be carried out
Without profoMdly disturbing all in
dustrill conditions, unsettilng prices
and creating confusion IN every line
OF business Besides, the proposition
to tax the people to take up and ult-
mately cancel our entire legal tender
paper currency and leave Il to bank
ing associations, organized for private
gain. at their viii ana as their inter-
ests alone may dictate, to supply Its
place with promises to pay. ought to
arouse the most anxious concern OF the
whole people The yreenbnck currency
costs the people nothing, 1t is legal
tender, OF the same value In every
part OF the country, and good anywhere
In the world. To ask the people to tax
themse!ves-for that Is what 1t
amounts toto take up this currency,
IN order that banks may M It's place
with their notes, is proposition which
Il IL had not come from the treasury
department, would have been doomed
in order that banks may hll It's place
proposition, too. comes to the country
as bolt from clear sky, No political
platform ever contained such a propos-
ition, nothing purpOrtlrg such a change
was given out before the late election.
The people have had no opportunity
10 express themselves respecting IT,
II comes as oil eonspiracles dO--as did
the act demope,izing sllyor--life thief
IN the night.
Whnt the Hanks WIN DO.
There are more than ton thousand
banking institutions that under this
act may Issue notes 10 circulate as
money by what principle will they
be governed in the Issue of this cur
rency2 BY none in the world but their
own interests. Make il profitable TO
ihcm and they will put out any amount
OF ourreneA9 REGARDLESS OF consequences,
Immediate or remote. In turn, let Il
become their interest to contract the
currency, and they win contract II re-
gardless of the erect on the business
world. That Is the only Kind OF elastic
lily there Is In this form OF currency.
Banks will iaaue It as long as there is
profit to them In doing so and no
longer The experience OF the world
has been that, under such system
there win be at first expansion. ex-
pansion here, there. everywhere, all
over the country, needless Of the ex-
port OF gold, except perhaps. in the
seahoard cltien. Til. with continued
loss Of sold, the limit OF tension reach
ed when collapse VIII come followed
by long continued contraction, Ken-
eral bushes stagnation and the ruin
OF debtors
This has been the history OF such n
currency not only in this country, but
IN every other country that has tried
u, and nearly an commercial countries
have tried 1t, one time or anoiher.
The creation and proper regulation OF
paper money IL lnseparable from the
power TO coin money, otherwise naper
money may be Issued IN such quanti-
ty as to dlsplecc coin altogether as Diff
fercnt periods Of our history abundant-
~ prove, and as stated by Webster
in 1883.
trusted TO private interests The ,ecte-
tary Of the treasusy, Mr. "a. J. nal.
las, as long ago as 1915, said .The an-
thority which alone IS competent Ia
establish the national coin is alone
competent TO create o national substi-