The midland journal., 1894-12-21
The r1oney Question.

The rloney Question.
1t was the first to put in an appearance
when congress met. 1t thrust itself into
the White House and denarded the chief
attention of the President. 1t has tun-
bled over and put its feet on both McKin-
leyism and tariff reform. The whole
banking fraternity of the country is on
the anxious bench. The national banks,
for 80 years the idol of the bankers, are
condemned by their friends, who are try
ing to destroy them. The banking
scheme of the President and Secretary
Carlisle has never had parallel i'll the
heavens or earth. The Baltimore plan
doesn't suit anybody, and confusion
worse confounded' reigns i'll the house
of the money changers. They see the
hand writing on the wall and are deter
mined to make desperate plunge to gain
all or loose all in the battle for a new
financial system. They have outlined a
skeleton plan which they hope to fill up
by the wisdom of Wall street if a we'll
defined opposition is not presented.
In this hour of supreme importance
what are the leaders and heralds of the
Peoples party going to do? Are they
prepared to present a well digested plan,
or are they going to content themselves
with marking time on owe demand the
free coinage of silver at the ratio of
I6 to ~ and national currency, safe,
sound and flexible, issued by the general
government only, full legal tender for
all debts, public and private and without
the use of banking corporations, just,
equitable and efficient means of distribu-
tion to the people"
This declaration is too much of the
glittering generality order for the present
advanced position of the question. The
bankers have opened their new cam-
paign and their object is the conquest
of more privileges and less response
bility. They have their man in the
Presidential chair, the Treasury and the
Office of the Comptroller of the Currency.
The next congress they feel sure of, and
with this advantage of position they have
opened the battle for greater financial
conquests. A $1,000, 100000 new low
interest bearing, long term bonds is to be
added to the national debt by destroying
all government issues of paper currency,
resting on a gold basis, debt that can
never be paid but drawing perpetual
interest paid by the labor of the country,
and banking system over which they
exercise complete control. This is what
the money power offers the people
through its two old parties in congress.
The Peoples party alone offers them
anything else, and their offer or proposal
is too indefinite to meet the demands of a
counter system. The Peoples's party
declare for the destruction of the national
banks they have not offered any other
system to take their place. 1t is time they
should do so. Our members ought to
introduce well digested banking system
bill in opposition to that of the bankers,
that they could go to the country together.
The bankers threaten to force their
scheme by looting the Treasury of its gold
and the President and Secretary Carlisle
are aiding them in the conspiracy.
What other plan can the Peoples party
offer to supersede the national banks and
forestall the scheme being concocted by
the bankers but system of government
banks? In short there is nothing else to
offer. The peoples party must come out
in the most definite manner for COVER
ment banks or abandon the field. No
financial system can be conducted i'll this
era of trade and commerce and complex
civilization without the machinery OF
banks. The power that controls the banks
controls the money of the country, and by
Monied corporations with little respon-
sibility to government and people will
control the currency or the government
MUST. The bankers have raised the new
battle cry that the government must get
out of the banking business, while the
fact is the government has never been III
the banking business. Had it been the
present stagnation of business and dis
tress would not exist. In place ofgettins
out the government must get into the
business, or III other words the peo
pie must be their OWN bankers, as they
are their own post Office managers. The
corporations which have always beea in
the banking business must be turned out
as they were out of the mail business.
1t is time the reform papers took this
demand up and pressed it upon the lead
ers of the Peoples party who are hanging
back and thrasiling over old straw. The
Peoples party have been loud i'll theil
demands for the money question to be
brought to the front. 1t is there now ii
its most vital form. Who shall contFol
the money of the country? This is the
most important phase of the question
Are we ready for the question Not It'll
we can present a we'll digested system ot
banking.