The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-01-15
RETIRE THE GREENBACKS.
Carlisle Promises Wall Street That
the Greenbacks Must Go.


Peoples Party Paper. Atlanta, Ga.) s..
The New York Chamber of Com
| merce summoned Mr.. Carlisle over to
it's annual bang uet, and Of course the
old turn-cOat went. Having been duly
crammed with terrapin, duck. turkey
| and pickles, and having had Claret,
Madeira, Port and Champagne poured
into him as long as there was storage
room, he was put up to entertain his
Wall street masters by making a
speech.
Surrounded by the gilded clique
which bought our bonds, through
| Cleveland's law firm, at ten million
dollars less than they were worth sup
ported and encouraged by the pres
ence and the inspiring smiles Of the
| millionaire criminals who violate our
| Antitrust Laws, fortified and en-
boldened by breathing the atmos-
phere of Bank-Privilege, BankMon-
| opoly and Bank-emolument, Carlisle
! spoke.
He spoke as one elevated and in
spired:-spoke as an oracle speaks
With his head we'll up and his tail
| over the dashboard he metaphorically
! dashed into gait Of "two-forty on a
| plank-road, and what do l feed you
| for!''
Carlisle's speech enraptured his
audience. 1t was just what they
wanted. Down to the muddiest bot
tom Of their sordid souls it stirred
them and delighted them.
I'VE must retire the greenbacks"
said Mr.. Carlisle; and every Wall
street banker who heard the welcome
words almost slipped off his chair in
the exurberance of his JOY.
The Greenbacks and the Treasury
Notes of 1890 are to be retired. Cleve-
land makes this promise to Wall
street. s.
The Greenbacks amount to $346, OOO,-
600; the Treasury Notes to $3.50, 200, 600,
or thereabouts.
This paper money is now circulating
among the people, answering all the
needs of business, and costing nobody
a cent.
1t is to be called in and burnt!
That Is the distinct pledge which
Mr.. Carli sic made to the Wall street
MILL onaires.
Ii this paper money aggre ating
500 100000, in round numbers, is
burnt, what sort OF money is to take
it's place?
National Bank notes. And how will
these National Bank notes get into
circulation?
Our business men will go to the
Banks and borrow the notes at six or
eight per cent interest-and thus the
noles will go into circulation.
How do the Greenbacks and Treas
ury Notes get into circulation?
The Government pays them out on
current expenses, and thus they get
into circulation without costing any
body cent.
Why do the National Bankers want
the Greenbacks and Treasury Notes
| burnt?
So that they, the Banks, will have
monopoly of supplying the country
with paper money.
II the National Bankers can force
the Government to burn the 500, 00O,.
900, Of paper money which the people
| now use free OF int rest, they can put
| out that amount OF their bank notes
| at six or eight per cent interest, and
thus reap a harvest Of thirty or forty
million collars per year, in addition to
the fat returns they now get.
Therefore when Mr.. Carlisle prom
ised the Wall streeters to call ia the
Green backs and burn them; it was the
same as if he had said:
"Gentlemen, Cleveland and the
Democratic party love you, and we
are going to SO arrange tie law that
the taxpayers will have to add thirty
CT forty millions annually to your un-
taxed prosperity"
Not only will the people have to pay
the difference between non-interest-
! bearing currency and that which
bears inter rest, but they will also have
| to prepare themselves to tote more
| bonds.
The $500, 100000 Of paper money
| which Carlisle promises to call in and
burn. constitutes a public debt. This
| is strictly true of the Green backs. 1t
| is debt of $346, O0O,O 900 which bears
no interest.
Mr.. Carlisle proposes to cancel this
| debt, and burn the notes.
| How is he going to get the cash
| (gold and silver to pay the Greenback
notes?
Not from the Government revenues,
for Cleveland is spending them faster
than they can be collected.
Not from cash in the Treasury, be-
cause they have not got it,
Not from collections made from the
Pacific Railroad Corporations who owe
us, because the Government will take
| no steps to collect the debt.
Then how is Carlisle to pay off the
| Green back notes?
Put another mortgage on u.s.
| Bonds.
The bonds will draw at least three
| Greenbacks which cost US nothing
must get out of the way for bonds
which cost three per cent.
That's good financiering-for Wall
| street.
But this isn't all. Not only do we
| lose about forty million dollars as the
| difference between National Bank
| notes and GreenbackS. not only do we
| lose the difference between public
de BIT which bears no interest and one
which does, but every citizen who sells
produce. OF hunts work. or struggles
with debt, will feel the effects of burn
ing $500, 600 Of the money in circu-
| lation.
II Carlisle and Cleveland carry out
their goddess schemes, fully one-third