The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-09-26
BELMONT AND MORGAN
G. II. WILLIAMS REVIEWS THEIR
BOND SALES.
1--WE Have No Contest with Honest
Capital" snid NE. Williams
mt Brnintree, Mass.

5O-cent dollar and thread-bare jokes on
l6 to /.
At large meeting in Braintree, Mass,
Saturday night, Mr. Williams said: we
have no contest with capitalize honest
capital that is engaged in honest indus
try. We have no contest with the manu-
facturer now in any branch of trade, for
he should be our friend. 1t is the power
that holds the manufactures in it's grip,
and can make or unmake him by making
or unmaking his credit that we are OPP
posing today; and we propose to free, not
only the workman, not only the farmer
but the manufacturer and the leaders of
honest and true industry from the grasp
of a tyrant power that has made the
world suffer before; that has made wars
and caused blood to flow; that is heart
less and tyranical from the beginning OF
history down to the present time. (Ap-
plause)
might before last at Worcester 1 call
ed attention to the fact that Mr.. Bel
mont, the representative of the house of
Rothschilds In London, was called upon
to preside in a meeting of the sound
money democrats, as they call them
selves. Mr.. Belmont-Mr. Perry Belmont
has now addressed a letter to the Bos-
ton press saying that he is not a member
of the firm of August Belmont & Co, but
that his brother is. Now, so far as
represented him. Mr.. Belmont as the
6OtnScnlQS, 1
cept his correction.
Il have never seen the partnership ar
ticles of August Belmont & Co. 1 have
understood always that Perry Belmont
was largely interested In that firm, and
that his fortune came from that source.
and while he is a lawyer by profession, l
do not think | have gone far astray in
holding him up fair representative
of that house. applause and a voice.
q guess not.")
But 1t is immaterial as he takes the
burden upon himself of answering my
criticism and says: But 1 fail to see any
reason why a banker who has rendered
signal service to his country as Pierpont
Morgan and my brother undoubtedly did,
is not perfectly qualified to preside over
or participate in the proceedings of polit
ical meetings. l do not question 1t, and
do not question but that those two gen
tlemen were better representatives of
William McKinley's canvass than any
ether two gentlemen in the United States
of America. (Applause.)
Patriotism! The patriotism of j. Pier
pont Morgan and the house of Belmont.
] would like to find written in the annals
OF the country a recorded instance where
money brokers like these men have ever
done a patriotic act cloud applausc)
! Fierpont Morgan and Mr. Belmont as the
| representative. of the Rothschilds. are
not in the business of patriotism in this
/ republic (Renewed ApplauseO
Let us look back a little and find out
| the history of these patriots. and If my
| memory serves me, August Belmont *
! CO.. were concerned in the transactions
regarding the finances of this country
during the war. Let us see how the Wall
| street brokers showed their patriotism
when the blood of Braintree was flowing
on the field of battle and this glorious
republic of ours was almost in the throes
of death.
when Thaddeus Stevens introduced
his bill which subsequently became known
as the legal tender act he opened his ar
| gument with these words and this was
! IN 1862. when the great question of sup
porting our government was brought up
! by the failure of the gold to do its pat
riotic duty i'm this country The bill
said that great statesman. which l intro
duced some days since to provide means
to defray the expenses of the government,
| produced a howl among the money
changers as hideous as that set forth by
their cousins when they We're kicked out
of the temple Enthusiastic applause
THAT was the experience of the man
| who was fathering the bill to rescue this
| country from It's financial difficulties: and
when further on the legal tender bill had
| passed the house and had gone to the
senate and came back with character
stic amendment which came from Wall
street. Thaddeus Stevens delivered MIN
self again on the subject of the money
brokers.
when the bill went to the senate there
was a provision that the legal tender
notes of the government should be re-
ceivable for all claims and demands
against the United States Of any kind
vhatever When il reached the senate the
words We're added except for interest on
bonds and notes, which shall be paid in
cCin.' and Mr.. Stevens, in protesting
against this amendment called attention
to the great delight with which the whole
country had held the original BILL and
then went on with these words: 1t is
true, there was doleful sound came VI
from the caverns of bullion brokers anC
the salons Of the associated banks. rheil
| cashiers and agents were soon on the
| ground and persuaded the senate witt
/ but little elaboration to mangle and de
strOy what It had cost the house months
to digest consider and pass. Instead O.
| being a benehcent and invigOrating meas
ure, Il as now positively mischievous.
= now creates money and by its very terms
{ declares il "a deprecated currency. I
} makes two classes of money, one for tn
! bankers and brokers and another for thu
! people. 1t discriminates between tn
b. right of different classes of creditors al
e lowing the rich capitalist to demand gol
and compelling the ordinary lender o
1 money on Individual security to receiv
, notes which the government had pur
81 posely discredited.'
"Two years after that time, in a NOR
1 critical period of the war. when the fat
] of our republic hung in the balance
D Hugh McCulloch, comptroller of the cur
D rency. used these words: Hostility t
- the government has been as decidedl
r manifest in the efforts that have bee
s made in the commercial metropolis of tn
L nation to depreciate the currency as
e has been by the enemy in the field