The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-09-17

once instead of reissuing then, and |
thus putting stop to the endless chain
OF buckets that is carrying away our
gold
This is the argument. It is plausible.
lis it sound Or sincere?
No. On the eoatrery, it is impogeI-
BILE, when one ig acquainted with the
faetR. either TO believe that the pro-
posed action will remedy matters, or
to believe that the bankers believe 1t
will
In the first place. the gleenbacks
have not caused tne tTeGBuTy's iToubles.
for they nave circulated ioT twenty
years without trouble of any kind, and
conditions, SO far as they are con
ceTued, are the same now as hereto
fore. The gold drawn from the treas
urY has been drawn for export. De-
stroying the greenbaeks would not de.
stroy the demand for gold for export,
nor render it any more difficult TO OBJ
tnin it. The situation would be as
Matthew Marshall, the financial writer
OF the Sun, Gays il would:
III the legal tenders were retired all
debts including bank deposits. would
become real payable ia gold, though
nominally in silver also The ex-
| potter of gold would demand II from
the banks. and the banks would have
either 10 pay 1t or refuse to pay it. Ii
tLey paid it the country would lose the
gold just as it s losing 1t now, and II
| lhey refused to pay it We should come
TO the Suspension OF gold payments,
TO avoid which We have for the last
two years made such strenuous et-
forts"
The treasurer now reissues the green
backs in payment of governmental ex-
penses. If he is, instead of that, to
| destroy them, he must pay those ex-
penees in come other Wav. II he must
receive greenb2eks but cannot any
longer Day out greenbacks, it is as evil
dent as that two and two make four,
that the treasury instead o. being re
lieved will be still more greatly en-
baTr8ssed, and more in need OF help
than ever.
No, the associated bankers are not
proposing this action for the relief OF
the treasury or the relief of the coun.
try. Their ostensible motive is not
their real motive. 1t is impossible to
believe that tits.
What, then, is their reel motive?
Listenl
With the greenbacks out of the way
there will no longer be any reason fol
the treasury's keeping geld reserve
Ii will, as q matter of course, grad
ually disappear as the greenbacks art
retired. When that event occurs the
banks will be the only place to whict
any one can < to get gold
The entire circulation Of the country
will be based upon gold, but the bankl
will haYe a complete monopoly In TIT
matter Of supplying gold, barring alont
the slow production of the mines. Thl
government itself will have to look Il
the banks when it wants gold will
which to pay the interest on its bonds
This is part of the reason for the pro
ject of the bankers.
. Another and similar reason is tha
. the greenbacks are constant object
= lesson to the people that the govern
/ ment itself Can supply a safe, sount
and convenient currency as we'll q
I the banks. The greenbaek is q con
slant threat to the bank note. And no'
when the bonds on which the ban
note issue is based are nearing matu1
n
near an enc, unless the 6346.000 900 J
greenbacks can be forced cut of e1
l i5tence, leaving vacuum that must b
/ filed by something else, This is VIII
they have seized the present pretext S
promptly. This is why, as We NOR
: than suspect, they propose to keep u
f on the ragged edge of another financig
panic untll esRgFeas IS sztEiRDaeRea -irrtt Z I
( it must not be overlooked that if tb
/. acknowledgements -Rothschilds syndi
h cate has been able as SO eulogistiC2ll
: described in the current issue of tn
}. Review of Reviews, "to suspend tn
!. operation of the laws of trade t
: compel financial interests OF othe
: government" TO await the REQUIRE
f ments of the treasury of the Unite
F. States," to force the ordinary broke
into refusing to export gold whe
9 such transaction offered him a pro
r fit,"-if it has been able to do that i
= one case IL can do it In another, an
+ if this year If brings the tide of gol
one way because paid to do SO, th
, next year it can turn the tide the otbe
way If 1t wants to force action by con
gress that will compete the none
i monopoly of the banks.
The financial crisis that will 500
, confront US is whether the entire con
: troll Of the currency system Of the ma
, ION shall be handed over to smal
and select class. The crisis is urgent
the Importance of the principles in
, volyed tremendous.