Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-02-14
THE PUBLIC DEBT.
A MOST sTUPENDous FRAUD
AND swINDLE.
Ehe American People Have Drank Too
Deep at the FOunt Of Liberty to
submit to EnsIavement by the Bond
Schemes Of Europe.

The interest bearing public debt is
burden which never ought to have
been imposed upon the nation. 1t is
the most stupendous fraud and swindle
ever perpetrated upon a free people.
1t was conceived in fraud, and brought
fourth in iniquity. 1t was a scheme
to rob 4O,OOO,OOO of people after they
had emancipated 1000, 900 at the sacrl-
fee Of rivers of blood and millions Of
treasure.
Before the legal tender act had
passed the threshold OF Legislation, it
was met by the money sharks of Wall
street. We will show you
how and why they opposed it. We
are told that on the 18th of January,
only four days after the introduction
of the bill, the wolf-howl that had
during the time, echoed from bank to
bank, called to Washington conven-
ton of the money power, consisting
of four delegates from New York
banks, three from Philadelphia and
three from Boston. What
arguments were used, or what undue
influences were brought to bear upon
the Lawmakers of the government
will probably never be known. Every
greenback that went out to fight the
nations battles was accompanied by q
bond shark, to gobble it up, as
soon as it had performed its
service. The act of 1862, athorizing
the issue of the first $3.50, OOO,-
900 of greenbacks, authorized $780,
100000 of bonds to absorb them.
There was never dry day, after the
passage of the first legal tender act,
but what the government was in pos
session of all the money it needed, of
its own creation without borrowing
dollar or selling bond.
The only object of the bond was to
enable the money sharks again to get
cont.ol of the money of the country,
which they never could do without the
bond. The government established
the fact that it could meet all its obi
cations, purchase all its supplies and
defray every expense by its own legal
tender; and if so, what what was the
necessity of borrowing?
You answer that the bonds were
necessary to absorb the excess, &C.
casioned by the extraordinary demands
of war.
1 deny that there was an excess. Let
only him dare assert it who had more
than he had use for.
Even if there was an excess, the
bonds did not diminish it. The excess
has only been transferred from the
pockets of laborers and wealth pro-
ducers to those of usurers, importers
and international dealers.
Every bond is used as money. They
are used by English capitalists to buy
American cotton and bread stuffs, and
by American dealers to purchase i'm
ports.
Just in the proportion as the peoples
money has been contracted, that of the
money king has been inflated.
That their inflated paper bond
money may be current all over the
world, they require it to draw interest,
and that they may be relieved of the
burden of such interest they compel
labor and its producers to pay all the
taxes
The difference to the people of
America between the greenbacks be-
fore they were converted into bonds
and the bonds, is as follows:
The fifteen hundred million dollars
of greenbacks earned their owners
nothing while lying idle.
In bonds they earn their owners fully
as much, while resting in their safes.
The people and taxpayers got tired Of
this. If they are to be taxed to sup
port the government they claim the
benefits of the government and taxa
ton. When bonds are given for the
loan of money, and that money circu-
lated among the people, they can afford
to bear the burdens of the debt; but
when such bonds are given, to absorb
and destroy the peoples money, thus
creating new burdens, by destroying
the very means necessary to bear
those already existing, the sufferers
will refuse to submit to the outrage.
1t matters not what the result might
be, the American people have drank
too deep aE the fount of liberty, to
submit to be enslaved by bond fraud
schemes of Europe. Labor and FL
nance Revolution.
nPIUING OIJT CAPITAL