The midland journal. (Rising Sun, Md.) 1885-1947, 1896-12-18

They, however, were in various
ways beginning to acquire some of
this money, and it was enabling
them to patch up the wrecks of that
terrible, desolating war, and was
making them more contented with
their sad condition.
But the money power of this
country and of Europe in their
great greed for gain, would not let
well enough alone. In lieu of con-
senting to gradual increase in the
money supply demanded for the
use and progress of the people,
and especially to aid our brothers
of the South to build up their Sec
ton, they insisted that all the
paper money of the United States
was a debt and should be funded
into long date bends bearing inter-
est, which would permit their
hypothecation to the government as
security for the payment of national
bank notes; these the banks could
loan to the people and thus enable
them to secure double interest
yes, interest from the government
on the bonds hypothecated for
bank notes, also interest on the
bank notes which they loaned to
the people-a case of double inter-
est and extreme selfshness.
DEMOCRATIC LEADER.
In July, 1865, Mr.. August Bel
mont, fiscal agent of Messrs. Roths-
child, was, at the instigation of
Senator Thomas T. Bayard, elected
chairman of the Democratic nation
al executive committee, and at his
dictation kept there until 1867
eleven long years-against the
protest of the rank and file of the
Democratic party. But Mr.. Bel
mont was a liberal subscriber to the
Presidential campaign fund, which
covered multitude of sins.
Senator T. +. Bayard had served
as clerk for eight years under Mr..
August Observation-Disclosures one
good turn deserved another even
had the people to suffer in con-
sequence.
Through the action of Senators
Sherman and Bayard, aided by Mr..
Belmont, as his position of chair
man of the Democratic national ex-
ecutive committee gave him great
influence, Congress enacted laws to
fund the legal tenders into interest
bearing bonds. Thus was to be
taken away very largely of the debt
paying power from the people which
was enabling them to so successfully
run their industries.
To facilitate this matter the Sec
rotary of the Treasury appointed a
syndicate, who were paid very
liberal commission, composed of
August Belmont, Jesse SeIigman,
Jay Cooke, Drexel & Co., First
National Bank of New York.
August Belmont, the head and
front of this syndicate, was a prom
inent banker and bullion broker OF
New York city, chairman Of the
Democratic national executive COM
mittee, and one of the heaviest
contributors to the Democratic
campaign fund. Also, fiscal agent
of the Rothschilds, the leading
bankers and heaviest dealers in
gold, silver and copper in the world.
Jesse Seligman was a prominent
banker and broker of New York
city, a leading Republican and
heavy contributor to the campaign
fund; also fiscal agent of Seligman
Bros, prominent bankers and bull,
lion dealers of Paris. Mr.. Selig-
man was in 1892 sent by President
Harrison to Europe to investigate
and report upon the prospect of
international bimetallism. His re-
port was against the measure as not
feasible and not desirable. Self
interest was too strong to do other
wise. Therefore the people have
had to continue to suffer in conse-
queuce of his judgment against free
coinage.
Drexel & Co. were leading stock,
bullion, and exchange brokers of