The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-12-09
THE PRESIDENT OF THE STATE ALLIANCE.
He Makes a Ringing Appeal-Come to the jan
uary 9Th Meeting.

uary 5th Meeting.
Editor Representative:
The old hypocritical cry of "Confi-
dence being restored" goes up
through the old party press, and at
the same time the business failures
continue. and they will continue as
long as our supply of money depends
on few national banks. The whole
power of the gold plutocracy is trying
to Lerpctuatc this system. They are
going to do all in their power to force
Congress to retire the legal tender
currency and get them in bonds, pay
able in gold If they do, it will be a
straight gift OF four hundred and fifty
million dollars to the banks. There
is over five billions OF deposits in
banks and trust companies in the
United States. When the govern
ment offers to retire the legal tenders
the banks will simply send in the
greenbacks), and treasury notes Issued
under the Sherman law, and ex-
change them for bonds: they will then
leave the bonds with the government
and get 90 per cent of their face in ma
tional bank currency, with which they
can pay their depositors. In this ex-
change of the depOsitor's money for
bonds and thereby organizing a ma
tional bank, or by increasing the is
sue OF currency OF the bank already Or
ganized, they would receive 81 per
cent of the depositors money back in
the shape Of national bank currency.
1t will not make any difference if
they sell the bonds for gold and then
exchange the gold for legal tenders; it
will be the depoSitor's money lust the
same aud the depositors will take the
national bank currency when he draws
it from the bank to use in his bust
ness.
The great fight, during the last cam
paign, was between the national banks,
backed by the English plutocracy, and
the people.
The banks have won the fight. Now
we will watch the gradual Strangling
of Liberty. II the people make a
move towards freedom the banks of
issue will cut off the supply Of money.
But when the people do the bidding
of the banks, they will expand credits
and ease up on the people.
Mr.. Bryan, Mr.. Lind and Mr.. Fitz-
patrick made gallant fight, but or
ganized banks sent up the cry of "loss
OF confidence" and called in their
loans, the result was general
stagnation Of business; but as soon as
they had succeeded in defeating the
patriots Of America and had landed
the tory government safe for four
years to come, they then loosened the
financial strings and cried, behold.
confidence is reStOred!'
Our people seem to have forgotten
the warnings Of Jefferson and Jackson
and Benton. Jefferson said in letter
70 11tlV 1919 Gpnnly no p
must be suppressed and the Circulat-
ing medium must be restored to the
nation, to whom it belongs" In 1914
he wrote, Il have ever opposed money
of banks, not those discounting for
cash, but OF those foisting their own
paper in circulation, and thus baniSh-
ing our cash. My zeal against these
institutions was so warm and open, at
the establishment of the United
States Bank, that / was derided as a
maniac, by the tribe of bank mongers,
who were seeking to fitch from the
public"
We need several million Jeffersons
to beat back this destroyer Of liberty
of today, the bank Of issue. 1 hope
the senate will allow any tariff meas
urc to pass that the Republicans see
lit to propose; but stand by the legal
tenders, they are our only hope.
Let every one come to the State Alli-
ance meeting, Jan. 9Th. 1897 Let US
pass resolutions condeming this gi-
gantic steal. Yes,-let us do more, -
let US go to every part of the state and
rouse the people; make every school
house ring. We ought not to lie
dumb driven CATTLE" to be slaugh-
tered by the accursed greed of plutoc-
racy.
My God, where is our boasted free
dom! J. /. VERMILYA,
Pres. State Farmers Alliance.