The herald., 1894-04-17
OUR GREATEST DANGER.

Inc uHtlonal Denke constitute, Dy Tar,
the most powerful financial organization
that ever had an existence in this coun'
try. The celebrated national bank ol
Jackson's time, at the head OF which
was Nicholas Biddle, was but q pigmy
compared with this organization. Bid
dies bank, in it's time, was thought TO
be pretty strong concern; in fact, it
gave General Jackson a rather lively
tussle to get the better of it, but that
Was single institution, located in the
good old Quaker city of Philadelphia,
whereas the present national bank or
ganization numbers some $500 separate
institutions, scattered throughout the
length and breadth of every state and
territory OF the Union, and is infinitely
more fsr-resching in its influence.
With headquarters in New York those
banks can reach out in any direction
and make themselves felt everywhere.
Their association for political purposes
is said to be complete. and they operate
through the American Bankers associ-
alton. They owe their existence to ma
tional legislation and are essentially the
pets, as well as the creatures, of the gov
eminent. In all matters relating to
public finance they act in harmony, and,
it Is presumed, under instructions
emanating from Washington, though
promulgated from Wall street. The treas
ury department, under whatever admin
istration, is subject to their beck and
call, and the republic is humiliated by
the frequent visits OF the secretary of
the treasury to Wall street for instruc-
tions In finance.
We read in the news items OF the New
York Press Of March 3lst, just past.
that, "Mr. Carlisle secluded himself tor
the rept Of the evening. He spent the
most OF yesterday in bank parlor down
town. His business here is intended to
give assurance that the president will
make no concessions to the free silver
men,"
Congress, likewise, whether Demo
cratic or Republican, yields implicit
obedience to the demands of these banks.
Children at school are not moro regard.
full OF the masters orders than are a
majority of the members of either house
of the national legislature to the behests
of the banking power. Presidents are
nominated and elected by them. and
cabinets formed under their dictation.
To secure concert of action or public
and political questions, strictly pri-
vste" circulars are issued from time to
time, as occasion seems to require, and
the entire $500 establishments act as
one.
The national banks belong to no polit
icnl party, but both PARTIES, wn1u iu,
belong, soul, body and breeches, to
them. Their sway in all public fnsn-
cisl matters is practically absolute.
They constitute the one great power in
the land. They can enforce legislation
or prevent it, at will. OF courze their
end and aim is money making; for that
object alone they exist, and for that is
their power always exerted. No higher
or other aim in this world ia kno wn to
them; but all this, so far as the indi-
vidual banker lie concerned, is legitimate
as the world goes. The fault is in Great
ing euch power by law. In that lies
the wrong and the danger.
The word money-making is here used
in the sense OF money getting. The
banks create no wealth, nor do they add
value to products. Their business ls
dealing in values created by others, and
their aim is always the absorption of
wealth already created. The successful
money changer is the one who excsls,
not in sowing the seeds OF wealth, but
in gathering the harvest. And yet the
banker has his uses. He is OF advsn-
tage to the community when he 80 di-
rects the means under his control as to
encourage enterprise and promote in
dustry; but quite the contrary when his
energies are directed to political ends
and to the gathering OF wealth through
the agency of government.