The midland journal. (Rising Sun, Md.) 1885-1947, 1895-01-11
Friday, Jan. III, 1895.
The Money Plank.

1--WE demand a national currency, safe,
sound and flexible, issued by the general
government only, full legal tender tor
all debts, public and private, and that
without the use of banking corporations
a Just, equitable and efficient means OF
distribution direct to the people at tax
not exceeding per cent per annun, be
provided
This comprises the substance of the
Peoples party financial demand i'll the
party's national platform. There are but
few in the producing classes i'll every line
of productive industry who do not endorse
this demand if it has been brought direct
" to their notice. The evidence of this
is found in the fact that this class prefers
the greenback to any other kind of paper
money.
After the government has created such
legal tender money how shall or CAN it be
distributed direct to the people at tax
not to exceed per cent?? There must
necessarily be a medium of distribution
provided that shall not only possess the
facilities for performing this indispensable
work, but be invested with the power to
fix the tax or interest for the use of the
money at per cent or any other rate
determined upon by the government.
Banking corporations which at present
monopolize this business are condemned
by the Peoples party. There is but one
other alternative, In order that the legal
tender money shall be issued ''direct to
the people" at fixed rate of interest or
tax, the government must create the
machinery for carrying out the purpose,
which is necessarily banks of deposit and
issue; which is to say, the present cor
poration banks must be substituted by
government banks. If the above demand
is to ever be realized there is no other
conceivable mode by which it can be
accomplished, and the party must pro-
claim this fact in the fewest and plainest
words that can be chosen in its next
national platform.
The plutocrat and banking class are
proclaiming from the house tops that the
government must abandon the issue of
legal tender money and confne itself to
the coinage of gold, that all government
issues of paper of whatever kind must be
converted into Understanding bonds and
that the government must "get out of the
banking business, abandon that impor-
tant franchise to corporations. This plu-
tocratic class is now boldly defying this
leading demand of the Peoples party to
not fight and win this position means the
overthrow of the party followed by dis
banding.
The financial demands of the Peoples
party are now being antagonized by the
whole banking power ofthe country, solid
1y united on that one issue, the destruction
of the greenback and all other issues of
paper money by the government, includ-
ing silver and gold certificates, by the
conversion of this government money
into thirty year Understanding, untax-
able bonds. This movement means at
least $500, 900, 600 more of bonds, and if
the silver certificates are included at least
$500, 900, 900 additional, or 5000, 900, 900.
These new bonds added to the illegal
issue of bonds which Cleveland is engaged
in, would push the new debt up to
81 zoo, 600, 900, in addition to the old debt
created in the sixties Immediately after
the close of the war by similar methods
which are now in progress.
The present Carlisle bill before con-
gress it is not the intention of the money
oligarchy to have passed, but more
ment's hands and place the control of the
money of the country entirely i'll the
hands of bankers, with an additional
bonded debt so large as to defy its ever
being paid but remain perpetual non
tax-paying, interest drawing debt, resting
on the backs of the people. With two
thousand million government bonds on
hand every rich man would be able to
shirk paying tax on the greater part Of
his property by converting it into bonds
few days before assessment, as they
have always been in the habit of doing.
There is a scheme under advisement in
the councils of the money changers for
getting rid of the silver in possession Of
the government, without allowing it to go
into circulation. The plan at present
being considered is to redeem the silver
certificates i'll silver coin and bullion at
market price of bullion. Then the GER
tifcates would be burned. To carry out
this scheme the bankers and brokers who
exchanged a 81 90 certificate for two sill
yer dollars, would put the silver on the
market as bullion and sell it. Under such
conditions the price of silver would be
beared down by the spectators to prob
ably rs cents on the dollar, and they
would then get four silver dollars for 81
certificate. This would shut up the silver
mines till the surplus silver was used, and
if the silver mine owners keep up Their
hawk and buzzard play with the Peoples
party and the old gold ring parties this is
the box they will find themselves in.
When this nefarious plot was consum
ated, the money would be contracted tc
about one hundred and twenty million o
silver dollars and smaller silver money
and what little gold there is i'll circulation
and the national banks would then have
full swing to issue just what paper none,