The Louisiana populist., 1895-08-02
OUR GRAND COUNTRY.
REPUBLIC IN NAME, IN FACT A
MONARCHY.
the Federal Courts aud Regular Army,
Have Forced the People TO Tamely Sub
nit to Unto Usurpations

mOueyeu arlstOcracy mas Oeen graz =
ually gaining footing in this coun-
try until for some years it has die
tated acts of legislation and decisions
OF courts at will, and to that extent
that over three-fifths of the nation S
wealth has been wrung from the peo-
pie and placed in the hands OF the
few. A once free republic has been
changed into monarchy in fact, if
not in name.
IL any doubt the power OF this mon
eyed combine over our legislation and
the courts let them note few, even.
OF the important acts of legislation
and court decisions for the past thirty
years:
First, placing two exceptions on
the greenbacks in 1862 which was the
sole cause Of their depreciation below
par; the establishment of national
banks in 1864, whereby the govern
ment loaned banking money at per
cent, which they have loaned at from
to 30 per cent ever since; the cor
traction act of 1866 under which over
20 millions OF non-interest bearing
greenbacks were drawn from circula-
tion by issuing interest bearing bonds
in their stead; the credit strengthen
ing act of 1869, under which the
bonds that had been bought
with greenbacks at 40 cents on the
dollar aad which were made payable
in lawful money which included
greenbacks, were made payable in
coin. The difference between the
value of this coin and greenbacks at
the time put over 600 million dollars
in the hands of the bond holders; the
refundiug act of 1879, which changed
the whole bond indebted ness into long
time bonds in order to perpetuate the
national debt upon future generations;
the act to demonetize silver in 1873
and set up a single gold standard in
its stead has deprecated the value OF
silver bullion one-half and all pro-
ducts OF labor and all property
the same, while all debts have been
doubled; after the people in 1878 had
forced congress to provide for the
coinage OF from two to four million
silver dollars per month, the Sher-
man act OF 1890 stopped silver coin
age and instead bought 4,500. 900
ounces of silver per month and issued
silver certificates against the same.
but the money power soon wanted
something better and forced an extra
session of congress in 1898 to annul
this act, thereby destroying the last
vestige of silver; last fall the bankers
met in Baltimore and set up plan to
destroy all the greenbacks and TO
issue all the paper money themselves.
In obedience to their command. Cleve-
land urged the scheme in his message
and but for a few Populist votes il
would have become law; again, last
January, they had the president issue
a special message, urging congress to
issue five hundred million dollars
worth Of bonds to be payable in gold.
This would have become a law, but
for the same Populist votes; a little
later, they introduced bill to in
definitely postpone the payment OF
Tie OulOu oCillC QCOt W buc
government This was defeated by
the same votes; they havo purposely
robbed the treasury of its gold and
compelled the president to issue one
hundred and sixty-five million dollars
worth of interest-bearing bonds. in a
time OF profound peace, to run the ex-
penses of the government.
So much for class legislation to
benefit the few.
Before the war, the supreme court
in the 'Dred Scott" decision, said a
negro had no rights white man was
bound to respect. 1t took four years
Of war to straighten out that kink.
Now, in the .'income taxi decision,
they have repeated that the people
have no rights that Wall street is
bound to respect except to do all the
work and pay all the taxes. In the
Debs case. the supreme courts de-
cision says in substance that should
all the railroad, manufacturing and
other combines unite to reduce wages
to ten cents a day and any number of
iuou ohoutu osecmpt W ptCNCut euCu
reduction. any federal court could
issue an injunction ito prevent them
and imprison them il they should dis
obey. This decision clothes monopoly y
with unlimited power to crafty any
extreme OF selfishness.
The above briefly outlined acts aud
decisions, granted to a moneyed aris-
tocracy, are but a few OF many others
OF the same nature. Who can deny
that We have gradually become a
monarchy in fact, though not in
name? Now, when we consider how
tamely the people have submitted to
all this, would 1t create much OF a
stir If the money power should force
the president, near the close of his
term Of Office, to declare himself per-
msnent ruler under the title placed
at the head of this article. II
sny opposition was raised, what
would it encounter? The combined
power of the crowned heads of the