The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-27
TILDEN ON THE MONEY POWER.

We are in the habit Of believing that
the present ills are the most grievous
that the people have ever borne, and
when men denounce the present selfish
policy of the money power we are apt to
think that it is unprecedented. TIE
truth is that the cupidity of mankind is
] as old as the race.
The present agitation of the money
question is not more intense or bitter
than was witnessed during the admins
tration of Andrew Jackson. Then, as
now, the banking influences were arrayed
to continue the domination Of the gov
ernment fiscal policy, which Hamilton
and his school had established and ap-
proved During the discussion, Mr..
Samuel j. Tlden, then just catering
upon his political career, came to the
defense of the President, and was severe
in his arrangement of the National Bank.
His denunciation of the actions of the
money power are as applicable now as
then. We quote an extract from Mr..
Tilden's speech;
care these aprehensions of the tend
ency of our moneyed system unfounded 2
We point you to the admonitory example
of the nation from which we derived that
system. What is it that has hung for
ages like an incubus upon England, re-
pressing the RISING spirit of freedom,
and paralyzing every effort to anchor
ate her political condition, which at this
moment eXerts an influence over her
far more mighty than that of her here
ditary aristocracy, and in truth, sWays
her destinies? A heartleSS, s0ulless
money power-a tyranny sternly inex0r-
able and unrelenting, when, as in the
recent glorious struggles for reform,
even the monarch and many OF the
titled nobility were ready to yield some
thing to the just complaints of an OPP
pressed people. And can we be insensi-
BILE to the rapid and fearful strides which
the same power is making in our own
country? Are not monopolies and corpora
tions springing up like hydras in every
part of the nation? Are they not OBJ
tanning an alarming ascendency over
our legislative BODIES and over. the PEG
pie themselves Is not the most mighty
and dangerous of them now c0nyulsing
the country by its struggles for con
tinued existence Has it not assaulted
the purity of the press, the fidelity of
+.+ fh, Cf
our elections, the three great pillars
which support the noble superstructure
of American liberty? Has it not be-
trayed the just authority of Congress,
and with reckless audacity dared to die
tate to us the choice Of.our rulersl Has
it not, by its control over the currency
and business Of the country, spread far
and wide dismay, misery and ruin, that
it might coerce and intimidate the peO-
pie to an acquiescence in its Wishes2
Has it not engaged in an organized effort
to virtually rob the mechanics and work
ing classes of the right of suffrage, by
driving them from the employing Mt upon
which they and their families depend
for subsistence, unless they would sur
render this dearest birth right of free
dom to the dictation of those who, by
their means of wealth, posse an acct
dental power over them. And If it be
successful in effecting a re charter, is
any one so infatuated as to hope that,
when the time for another renewal oc
ours, its application can be resisted If
Andrew Jackson, with long life of glo
rious public service, with a degree of
popularity and public confidence never
enjoyed before save by the Father of his
Country, and sustained by a
party numerous, united and power
full almost beyond example, if
he is unequal to the conflict, who shall
hereafter dare encounter its peril and
hazard or, who, having the patriotism
and firmness to make the attempt, can
have the slightest chance Of success Z?
No, fellow citizens, this contest can
| never be re- fought Give to the bank
extended existence, postpone the strug
gle now when you are better prepared 10
meet it than you can expect ever to be
again, allow the bank to inweave itself
more closely with our commercial sys-
| TEN, and 10 strengthen its alliance with
| the wealth Of the n.t.on, and every Of
| fort to resist its power hereafter will be
fruitless. In practice, it will be perpet
ual II will exist forever, the center and
stronghold Of the money power. New
exclusive privileges will soon be demand
ed. The means now employed to effect
its designs, if once successful, will
again be resorted to and again
be successful. 1t will assemble around
it all the rich and aristocratic, giving
unity to their efforts and welding their
energies till finally, as with advancing
time wealth accumulates and poverty be-
comes more excessive, a moneyed arts
tocracy will hold undisputed sway over
this now free and happy people. p"