The herald., 1896-10-18

Gentlemen and Ladies': 1t is not my
purpose to occupy your time this even
ing in giving my own opinion OF tne
causes which have led to the unfortu-
nate financial condition that at present
confronts us. But l wish to call your
attention to- some facts-important
facts as they appear to me-showing the
way in which capitalists in this country
and Europe have combined to reduce
our producing classes to poverty anu
dependence, If not ultimately to sub
stitute monarchy in place OF the gov
ernment "of the people, for the people,
by the people," say in this country and
in Europe, for the capitalists of both
countries have united in their efforts
to secure legislation injurious to the
people, but for their own benefit.
The effort of capital to secure legisla-
ton in it's own interest began long be-
fore the late war with the south, but
will only review the various legislative
acts, their causes and results, since that
time.
It is a very common practice with
speakers in behalf Of gold standard to
call us Populists anarchists. An an
archist," our dictionaries tell US, is
one who excites to revolt, or promotes
disorder" Then, are Populists anarch-
lists? Are free silver Democrats or free
silver Republicans anarchists? Let us
see.
The late Republican candidate for
Estee in recent campaign speech SAID;
"Wealth Is king in peace and In war.
He might have added, but especially IN
war. Our late war was capitaIs great
opportunity, and it made good use or
it-not to prove it's patriotism and pow
er for good and itself the true friend of
the people-but to add to its stores and
rob the people.
Appletons Cyclopedia for 1861 tells
us that Wall street, in our distress, was
%N ftn crn1r m q
at from "a to 26 per cent interest. But
WAbraham Lincoln, the Republican pres
Nident and true patriot, determined on
plan that would carry us safely
through the war without submitting to
their extortionate demands. And on
July II. 1861, and Feb. II, 1862, he au-
thorized the issuance of $50, 100000 OF
treasury notes. These were payable for
all debts, public and private, and con-
sequently were as good as gold and sill
yer, and it was then considered, es-
pecially by Republicans. as proof of
the greatest disloyalty to the govern
ment to question the governments right
to issue them or it's ability to redeem
them. With the exception of such
capitalists as were willing to sacrifice
every consideration Of honor on the
altar of mammon, even those who first
felt afraid Of this paper money, see
ing its good work in the time
of our country's greatest need
fast friends of the greenback.
To Shylock, however, these notes were
great disappointment. and after the
passage Of this act providing money to
carry on the war a meeting of bankers
from Boston, New York and Philadel-
phia was called to discuss a plan for
making the government dependent
upon them, and they adopted and sent
to the bakers of the United States the
following:
ia =,
Dear Sir: 1t is advisable to do all in
your power to sustain such daily and
prominent weekly newspapers, espec-
tally the agricultural and religious
press, as will oppose the issuing of
greenback paper money, and that you
also withhold patronage or favor from
all applicants who are not willing to op-
pose the government issue of money.
Let the government issue the coin and
the banks the paper money of the coun-
try, for then we can better protect each
other. To repeal the law creating ma
tional bank notes, or to restore to CIR
culation the government issue of money
will be to provide the people with
money, and will, therefore, seriously
affect your individual profits as bank
congress at once, and engeage him to
support our interests, that we may con-
troll legislation" f.......s. a.,
This circular gives you good idea of
the object of capital in plotting to de-
prive the people Of their money, for
which they had to pay no interest and
which was as good as gold, and making
them dependent upon bankers and
money-lenders for a medium of ex-
change-for money with which to can
Gel their obligations.
Was there no anarchism in this? Did
not this tend to excite revolt? To pro-
mote disorder? Anticipating greatly
increased demand, and fully expecting
to receive an extortionate rate of in
terest. bankers and brokers had been
boarding their gold and silver since the
beginning of the war, and now that the
government had supplied itself with
money what use to them would their
gold and silver be? They must devise
some means by which to cause de-
mand for the metal money they had
purposely held for gain. And they did
devise plan which ultimately worked
but too well for the peoples good.
The same year the British anarchists
of wealth sent to America their agent,
who knew just what to do. He went to
New York and at once issued to the old
"state banks" an outline of his plot in
the form of
A CONFIDENTIAL CIRCULAR"
1t was this: Slavery is likely to be
abolished by the war power, and ch =. .el
slavery destroyed. This 1 and my I'd
ropean friends are in favor of, for slav-
cry is but the owning of labor, and car
ries with 1t the care of the laborer; while
the European plan, led on by England
is capitals control of labor by controll-
ing the wages. This can be done by con-
trolling the money. The great debt that
capitalists will see to it Is maoess2a Of
the war, must be used as a measure to
control the volume of money. To accom-
plish this, the bonds must be used as a
banking basis. We are now waiting to
get the secretary of the treasury to make
this recommendation to congress. 1t
will not do to allow the 'greenback," as
1t Is called, to circulate as money any
length of time. for we cannot control
them; but we can control the bonds and
through them the bank ISSUE"
Do you hear that, gentlemen? Chat
tel slavery is but the owning of labor
and carries with it the care of the la
borer; while capitals plan is to control
wages by controlling the money.
These two circulars did effective work.
as we shall see.
EXCEPTION CLAUSE"-CLASS
LEGISLATION
In December, 1861, the secretary of the
treasury submitted report in which he
recommended the issuance of more
mony; and the committee on ways and
means submitted report to the house
recommending the issuance of more
greenbacks. These, like the former, were
to be good for the payment of ali debts,
public and private. This proposition