The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1894-04-21
Where the Crime Lies.

|
article in the Engineering Magazine
says that "silver initiation is the
principal cause Of the panic and
present condition of the trade of
the country, and that for the first
time in many years the currency is
on solid and substantial basis"
What twaddle
Yet, it is just that kind of talk
that most Of the toadying Eastern
press look upon as law and gospel.
They swallow everything, gudgeon
fashion, hook, line, sinker and all,
that men holding positions like Mr..
Simmons say, making no attempt
to reason out the matter for them
selves.
The cause Of this panic is solely
and exclusively due to the volun-
tary action of the mouth-pieces OF
the Rothschild ring"
They announced through the
press, with n brazenness that in
itself is most astonishing feature
of their arrogance in their own
power to Cypress the Nation, that
they proposed to intlict an "object
lesson" on the mercantile commu-
nifty, and, because they contracted
loans on wholesale scale, so that
merchants and borrowers could not
get money at any price, it, as this
bank president says--is call due
to silver"
Yes-it may be due to silver in
one way, but not in the way Mr..
Simmons means The money-lend-
ers conspired to shut down on sill
yer, and enforced their attitude---as
statistics now prove--by curtailing
bank accommodations to the whole
mercantile community until the
silver law was repealed.
How the announced purpose of
these money-lenders operated is
shown very we'll in the last annual
report of President Roberts, Of the
Pennsylvania Railroad system. In
that report December 81, 1898
Mr.. Roberts said:
upon the first evidence of this
change when the banks began to
curtail loans), your management
suspended work on all new con-
struction and equipment, and in
stituted rigid and thorough econo-
mics in every branch of the service.
This policy resulted in maintaining
the finances of your company in
good condition, and will be pursued
during the present year, unless the
return OF prosperity warrants a
change therein"
Undoubtedly this "thorough econ
omy" and Suspension of work on
all new construction" was all very
we'll for the railway in question
but, how about the workmen, man
ufactories and all kinds of traders
thrown out of business thereby?
Yet, what these money-lenders
caused President Roberts to do had
precisely the same effect on thou
sands of other employers Of labor
and constructors Of equipment.
Then how does Mr.. Roberts ex.
pect return Of prosperity, so long
as his and other big roads spend nc
money?
That is just what panic is. II
is contraction of business, due to
the want of that same money which
is received in the ordinary course
of business.
Had not this money supply from
the money-lenders been suddenly
stopped, there would have been nc
: panic--there would have been nc
! distrust and to say that esilver in
ilation" caused this stoppage o
loans by the banks is merely a con
r fession of conspiracy among
> these banks to force "silver infla
+ ton" out of circulation, even if they
5 had to stop the wheels of trade o
: the entire country to do it.
g What do these big bankers car,
about the suffering and untold mis-
cry they infiiot on the toiling mill
ions, so long as abnormal rates 0
usury are at stalker
Q 1t is high time that the peopl
D bank for themselves, and take tn
control of the currency of thi
!. country from out Of the hands o
these INSCRIPTIONS money sharks
There can be no security to trade
manufacturers or any kind of com
D merciaI affairs so long as cliqu
: of manipulators have it in thei
hands and power at will to contrac
j the currency of this country 70
/, their own personnel short-sightet
profit.
; Then the currency of the country
l instead of being ON "a solid ant
I. substantial basis" as Mr.. Simmon
a contends, and that there is nov
a warrant for conference" never be
Q fore was in a more confused state
n never before had less basis for sc
Q curity. This promising to pay 10
Q cents in gold-demand Indebtedness
/ With less than per cent. on han
l. to do it with, is lie and Grim
n on its FACET is an impositio
3 upon the common-sense intelligenC
d of the business COMMUNICABLE
y adelphia Item.
!.
d w. r. Hearst of the San Francis