The Caucasian. (Clinton, N.C.) 188?-1913, 1895-10-31
DEYILTRY OR THE
ADMINISTRATION
As E1emplifed In Speech by the
Rothschild-C Cleveland Secre-
tary Of the Treasury.
THE SCHEME OF THE BANKS

| Is to Get Control Of All the Money Of the
Country-They Want q system by Which
They Can Contract the Curreney-And
Thus Control the Labor, Bodies and
Souls Of the People.
1t is absolutely painful to any man
having the welfare of this country at
| heart, TO note the proceedings that are
daily taking place, in the East more
particularly, in the name Of trade and
organizations for the purpose Of OPP
pressing the people.
October 18th the Massachusetts, Re-
form Club "held one OF the most largely
ATTENDED and enthusiastic dinners ill
its history" Among other celebrities
present was Secretary Carlisle, assisted
by some of the
MOST DISTINGUISHED POLITICIANS AND
BANKERS
of New England.
President Hale in his opening re-
marks said "The crowning necessity
of the moment is the retirement and
cancellation of government demand notes
as the essential preliminary to the es-
tablishment of sound currency"
The remark was heartily approved by
all the dignitaries present.
Mr.. Hale then added: 1.-The credit of
the Government would be preserved by
the present administration in the only
manner possible-by the purchase OF
gold coin
THROUGH THE ISSUE OF GOLD BONDS
| so long as it has the power to do So"
This was received with great ap-
| plause and cheers. But what would
the Government do with gold when it
has no outstanding notes to redeem
into it. Sell bonds to pay interest!
| Would that preserve a nations credit!
Secretary Carlisle then arose and
made one of the greatest speeches in
behalf of expressing the people on
record. His whole purpose was in a
line with Mr.. Hale's remarks, to the
end, that the Government paper money
| must
ALL BE DESTROYED.
Evidently the programme of the
meeting was cut and dried beforehand
to advocate that one thing.
Mr.. Carlisle begun with saying
"The first great mistake in our cur
rency legislation was made in the act
| of March II, 1862, which authorized
| lIIc VI llC 1iCdSuiJ ~ AoooS
| United States notes to the amount of
$3.50, 100000, and made them legal
tender.
In other words, this Secretary says
| that the greenbacks which carried this
| Union
SUCCESSFULLY THROUGH THE GREAT
| WAR,
was "the first great mistake" He says
| bax tafr hnn htlX IN
der a subsequent law, have been used
for the obtainment of gold from the
Treasury, therefore, they should now
be destroyed.
Then what on earth are importers
to do after they are destroyed, to ge,
gold to pay foreign debts? Will Sec
retary Carlisle answer that? He ad
vOcates gold basis on the one hand
then condemns
THE VERY AND ONLY MEANS
of getting gold the importer has OF
can have. If the Government shoult
not supply the importer with gold BY
means of the greenbatk, how is thi
importer under a gold basis to get hi
/, gold? Does he imply that banks issu
ing their paper money would furnisl
this importer with gold when he ask
it?
Every business man in this countr,
knows, or ought to know, that if tn
, security of the gold basis idea is t.
rest upon the hope that gold bank
will furnish importers at their request
and in exchange for nOn-legal tende
form of bank paper that is
CONVERTIBLE INTO NOTHING
after the greenback is destroyed, ever
, man of them must know that such
dependence would put his imports int
the highest stage of Speculative un
certainty.
: If, as is the case now, when the Gov
ernment is exchanging gold for green
. backs, the National banks of the coun
, try suspend gold payments, what i
, the world is to be expected of thes
banks when the Government, in hav
> ing destroyed its outstanding notes,
l no longer Obliged to furnish gold? Wi
g Secretary Carlisle answer that? Wi
, he tell the public where the gold basi
| idea comes in after the GOvernmer
= FURNISHES NO MORE GOLD?
e Where the merchant is to get his gol
d when the Government pays no mot
9 out?
i The truth is, Secretary Carlisle
,, advocating crime. He is advOcatin
g he industries of this country to e
. themselves in hole that they cannt
3 get out of. He is advocating form {
) currency that would be the
ROTTENEsT IN ALL POINTS
, of honest finance this nation has evt
= possessed. He is advocating form
i currency that no man can see befOr
IS hand that any creditor would take
" any part of the country except at
)" discount.
+ That is what this remarkable Seer
- tary calls sound money"
Some of his words were as follow
: sAfter the experience of the past thr
!, years it seems almost incredible that
10 proposition to retire these notes (gree
q backs, etc.,, should encounter serio
4 opposition"
le Has this Secretary really gone MAJ
8. "My contention is," continues t
7 Secretary, "that these notes ought n
~ to be kept outstanding, but should
= retired and cancelled as speedily as
sound and safe currency can be pr
D. vided to take their places"
at This sound and safe currency he !
o. commands to replace greenbacks is
1t give banks of issue the right
ID OF CONTROLLING ALL THE MONEY
ly VOLUME
d: of this country.
m Then follows: ''There can be no
,;e nancial repose in this country SO 10
,n as these notes (g-eenbacks, etc.,, CO
~ stitute part of our currency, becau
the fact that they exist compels
81 government to provide large e
is reserve, which in the very nature
he things, cannot be permanently maj
ev tained at any fixed amount, and whe
xe ever it begins t. diminish, distrust a
apprehension arise in the public mil
values are unsettled, business is d
,,s turbed, and more or less loss is entail
- upon the people"
W To say that this Secretary talks i
er. fool is putting it too mildly. Th
he is something
an DEvILIsH ABOUT THIS WHOLE BUsINI
it. particularly in its systematic pers
ra- tency. He attributes all the rott
~, ness that exists in the excIusi
Ill Il