The Caucasian. (Clinton, N.C.) 188?-1913, 1895-01-10
country 10 commence at once 10 con-
slider the question whether such In
s'itutiou was compatible With our
IL, utsarra.tc socleyy

Htf 10 considering whether The cou n
ry had not put its neck under IL,
yoke of a money monopoly which
would end by usurping all the power
Of Government ard reducing the pec-
pie to condition Of slavery 10 il. l.
sas the commencement IF that un-
paralleled political struggle in which
money, organized and directed by !;
keen, intelligent a. the centre. showed
what 1t was capable Of doing. TIL
money monopoly came very nea
proving Itself more than a match fo'
this ration. With its arms spread
out th oigh the Whole territory oj
he nation, and its agents spending
its III ney to affect the elections, en-
listing macy Of the first men of th,
lay In it, cause, it rent and tore our
social fabric and almost pulled il
dawn. One Of its sci emas was u
i.lunge thu whole country into q
STATE of tiaaucial panic, that the ar
gument might be mad that the
bank Of the trited States couIc
alone rescue the country, and the
nverwhelmi' z panic of 1897, that
Frustrated every interest in the Uni
ted States, was the result.
The p-ople proved too strong for
it, however, and it was finally de
feated, and its charter expired b.,
limitation IN 1886. Their the full
nature Of its existence came to be
disclosed. 1t soon transpired that il
had squandered all its own vast re-
sources and vast sums that had been
entrusted to it, and was hopvlessly
bankrupt. A committee of its stock
holders investigated its affairs and
reported on them to the whole body
Its field of destruction had spread all
over the United States and had
reached to f rope. Foreigners a.
well as citizens We're ruined, peers
and peeress SIS, plowmen and wash
women, merchsn's, trahesmen, law
yers, diviues, widows, orphans, wards
and guardians had all suffered, How
mach universal min could be WORKED
is the lesson of history, and the re-
port of the stock holders enables that
history to be written. From 1880 t.
1884, the period of its struggle for d
recha Ter, the loans and discounts OF
the bank were about doubled its ex
penses trebled. Nearly thirty mil
lion Of these loans were not of mer
camille character, nor openly made
but illegally and clandestinely. They
were to members Of Congress, to ed
itors of newspapers, to brawling pol
iticians, to brokers and jobbers, t.
fovorites and connections.
Senator Benton tells in his "Thirty
Years in the Senate" what mem
Der Of the Congress told him. Ill
said he needed 81 900 and could no
get it at home. Lie went to Phila
delphia-to the bank-inquired TO
the president, Mr.. Blddle; was shown
INTO an ante-room, supplied witt
newspapers and periodicals, ant
asked to sit and amuse himself, tn
president being engaged for tn
moment. Presently side doc
opened. He was ushered into tn
presence, graciously received; state,
his business, was smiliagly answered
that he could have it, and more j
he wished it; that he could leave hi
note with the Exchange Commute
and check it at once for the pro
ceeds, and, if announcement to CIV
an endorSer before he went home h
could do it afterwards, and whoeve
he said was good would be accepted
Aud, in telling Mr.. Benton this. tn
member said he could read burberry
in the presidents eyes.
! In the limits of this Article W
can, of course. DO no more than jus
| give these brief ou'lines. But the
should be enough. They add ar
other proof to our foundation prop,
sition, that whenever the simpI
:, | pan VI Oul Is UCDdIU6
from we open the door to coun1 le<
ills. From the day the country IT
covered from the effects of the pan
, hat the Bank Of the United Stat.
brought on it in 1887 down to tt
war, we lived according to the pla
! Of the Constitution, There wgs I
money but coin, and every Sta
, chartered as many banks as it cho
to charter. Every man had the ful
9 est opportunity to make every use
his credit that lie could. The
were no very rich men, but all tt
f people were we'll off, and
country ever had such perit
3. of pros. pelity as this country ha
+ lie. us return to the limiLs of t
Constitution and common sense al
f We will be prosperous again. II
+ people will never be contented I'M
we do.
h THE GRAND LODGE.