The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-07-24
IMPORTANT.

WHO KILLED COCK ROBIN?--A STRIK-
! ING ARRAY OF FACTS.
To the Representative:
| Who killed Cock Robin is a question
every school boy can answer; but who
killed the old Greenback party, and when
and where, has never been told so far as
l know.
| The greenback was a necessity Of the
war Of the rebellion,-and though it suf-
fered depreciation for while, it kept the
country on its finacial legs, and finally be-
came so popular that it organized a party
Of its own among the people, and was bap-
tized and named 'sthe greenback party"
AS early as 1868, it had cut the umbil-
ical cord, and promised sturdy growth
Like all new measures, it was of western
origin-the lEastern moss-backs being
too conservative to advance or to go
backwards.
The first check it met was in a fight
with the National Banks. The bank act
set apart $400,OOO,OO0 of national inter-
est bearing bonds, for the use of the banks
to bank upon,- 80 per cent or there
abouts, in printed non-legal tender notes
were advanced to the organized banks
and S400,O0O,O00 of greenbacks were au-
| thorlzed to be put out by the United
States treasury. This was a forced loan
from the people. Of gold and silver we
had none nor for many years thereafter
| The thousands of national banks now
determined to seize, and keep the control
OF, the paper money of the people,, and
to this end set a scheme on foot to kill the
| greenback party. 1t is remembered of
course, that the 10 per cent tax on state
bank notes had sent those institutions to
Coventry
The national banks now called to their
aid domestic and foreign bond-holders,
and together, plan was devised and car
ried out which knocked the life out of the
Green-backers.
It was part of the plan of this new
party to issue their favorite money in sui
| ficient quantities to pay current expenses
| of the government If the revenue was in
! sufficient,-to pay interest on bonds and
ultimately the principal. AS to redemp-
ton in coin of these issues, that was not
provided for,--the wealth, labor and pro-
auctions of the country stood behind
these promises to pay.
| The plan of these bond and money
sharks for ingenuity, should stand as the
first wonder OF the financial world.
Said they: eve will invade the lobby
of the two houses of congress, and secure
the passage of a law to strengthen the
credit of the United States-that will
sound well; we will prevail upon con-
gress to proclaim to the world that the
people of the United States are not set
Of cutthroats and thieves, but honest and
virtuous.' That will sound we'll, too
| Foreign creditors, who had paid less
than 40 cents on the dollar for their mill
ions of coupon bonds, Clipped in, and
| S5,0OO,0OO were sent over to secure re-
suits; but little was used of it, as bankers
had seats in congress and the money
lords OF America had the legislative ear
and the countenance of the executive.
| Now the blow was struck. Take up
| your volume Of the compilations of the
United States statutes, and turn to page
735, Title KILL, on "The Public Debt"
and read: Sec. 1903. The faith of the
United States is solemnly pledged to the
payment IN COIN or it's equivalent of all
| the obligations Of the United States, not
bearing interest, known as United States
notes and of all the interest-bearing OBJ
| legations of the United States except in
cases where the law authorizing the is
sue Of any such obligation has expressly
provided that the same may be paid in
lawful money or other currency than
gold or silver"
This was the lapidary's scrawl upon
the tombstone Of the Greenback Party.
1t was cut deep into the cold granite.
This law was passed 18th of March,
1869. Its repeal was, and is, impossible;
yet it was modified by the illegal tender
act Of 18th February, 1873, which de-
monetized one of the coins named in the
act of 18th March, 1869, namely, silver
coin.
Now turn to same compilation of stat
utes, and read
Sec. 1856. The silver coins of the
| United States shall be a legal tender, at
their nominal value, for any amount not
exceeding five dollars in any one pay
ment''
The Bland-Allison act in 1878, restored
the silver dollar to full legal tender, "un-
less otherwise provided in the contract )"
Hence the making of about all obliga-
tons now, payable in gold. Silver GER
dollar in silver behind them is. Bank
ers would not allow that
And thus it comes to pass the Green
back party was murdered, and the MUIR
derers are at large, having under their
thumbs the machinery of the executive.
legislative and judicial departments of
the United States. Respectfully,
VIM. WEIGH.
Minneapolis, July %.