Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1895-09-27
THE COMING CRISIS.
A CONSPIRACY OF BANKERS
TO RETIRE ALL GREEN
BACKS, AND SUBSTITUTE
BANK PAPER.
pLUToCRATIC PAPERS TESTING poBLio
OPINION ON THE QUESTION: PRE-
TENSE OF PATRIOTISM, TO BE
THE BASIS OF THE CON-
SPIRACY.

sPIRACY.
Little by little it becomes APP
parent that the associated bankers
of this country are gathering their
forces for mighty struggle during
the next session of Congress.
No public proclamation has been
issued, no brass bands are being en-
ployed. but unless all indications are
misleading, there is on foot a
definite, concerted movement that is
likely to change the whole line OF
battle on the currency question.
The purpose of the bankers is this;
to strike with all their power for a
law that shall put out OF existence,
once for all, the entire issue OF
United States notes known as green
backs.
The plea which they will make
will be the highly-patriotic plea
that this action is necessary TO
rescue the treasury from its perilous
position and establish the nations
finances on a firm basis.
The plea will be false one, the
patriotic professions will be de-
lusive, and the result of the action
proposed will be a far-reaching
disaster whose ultimate consequences
are incalculable.
Here are the facts: There are in
circulation to-day about S34O,OoO,-
900 of greenbacks. Those green
backs represent policy in direct
antagonism to the policy underlying
the national bonk system, and they
have from the beginning been re-
garded by the bankers with hostile
eyes. They insisted on their re-
tirement as part of the plan OF
resumption 20 years ago, and this
retirement was actually begun. SO
immediate and stern was the popu.
lar protest, however, that that pro-
vision of the law was repealed and
the greenbacks preserved as a part
of the national currency. From
that date to this the bankers have
sulkily watched for their oppor-
tunity and they have it now.
Whether they have it or not, they
cannot safely wait any longer. The
national bankers convention held a
few weeks ago took steps to urge
upon Congress the retirement OF the
ereenbacks. The journals that best
represent the thought of the organ
ization have been for six months,
with infinite tact and skill, testing
the public temper Oh the subject.
The public has not taken alarm. The
time seems suspicious. The plans
have been consummated. The bill is
already being prepared for efiecting
the desired end.
What is the motive behind all this!
The ostensible motive is this:
The greenbacks are exchangeable
on demand at the United States
treasury, for gold. They are the
vehicle by means -of which the gold
reserve has been taken out OF the
treasury. On the face of affairs,
they are to blame for the treasury's
recent troubles. What more plausl-
BILE, therefore, than to say, as the
bankers do, that the real remedy is
to retire these greenbacks, as fast
as redeemed, destroying them at
once instead of reissuing them' and
thus putting stop to the "endless
chain of buckets" that is carrying
away our goldf
This is the argument. It's plauis-
BILE. Is it sound or sincereF
No. On the contrary, it is i'm
possible, when one is acquainted
With these facts. either to believe
that the proposed action will remedy
matters, or to believe that the bank
.ers believe it will.
In the first place, the greenbacks
49, not caused the treasury's