West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-09-24

the Banks that caused the panic Of
1898 and the continued hard times
TO the present, and not the tariff.
In speaking of the Banks, l wish
to state that also hold them re.
sponsible, with the help of England, 1,
for the demonetiZation of silver,
for it is both combined that has
caused all this distress. But for
the present shall deal principally
with the Banks, and in later issues
of The ARGUS L will take up the
silver side OF the question and show
the farmers why it is the all i'm
portant question for them, and
their only salvation to have that
which they produce protected. In
no other way can they hope for
relief.
Now, what was the Mckinley
Bill? Wo find by its title that it
was an act to reduce revenues, and
it certainly done that for which it
was intended. If you will get the
report for the last year the McKin-
ley law was in operation, you will
find that the income over and above
the expenditures did not amount to
81, 600, 900, and prior to the McKin.
ley act it had been over 800, ,000,-
600. Now when by taxation you
decrease revenue, and that taxation
on imports, how do you decrease
revenue unless you keep imports
out? In my opinion you can not
do it. 1t is just as plain as 2 and 2
make that If an increase of the
tariff keeps out imports, then rev.
enue must fall.
Now, what did that awful Wilson
Bill do? We Republicans were led
to believe it was free trade bill
and that our mills would bo closed
down and that foreign imports
would come in here by the ship
load. Now the facts are that the
income under the Wilson Bill did
not meet the expenditure by about
$50, 900 900 You don't mean to
tell me that by putting this much
money in the peoples pocket, that
it has caused all these hard times
do you /? If the Wilson Bill has
not brought in enough without a
deficiency, how will you get more
revenue by putting on more tariff,
unless you put tax on ten, coffee
and sugar. You can't do 1t. You
can not lift yourself over the fence
by your boot straps. Now we have
the mills closed and everything
else. Mr.. Mckinley says close the
mlnts and open the mills. Well,
the mints are closed, why not open
the mills But you will find the
trouble is not the tariff. and you
can pile the tariff on as high as you
want and You will never make it
any better. The trouble is entirely
due to our monetary system and
the Banks. These money sharks
are shrewd and they talked tariff TO
blind us, aud while they we're scar.
ing all the business men in the
country telling them what a ter.
rible thing the Wilson tariff was,
and that il we would repeal the
Sherman act we would have good
times. What do you think they
were doing all this time will
give you below letter in full 81
sent out by their President from
New York City.
TnE AMERICAS BANKERS Ass'N,
WALL ST. AND O0-of BRoD'Y,
NEW YORK, March 3. 1893.
To me BGnhcrs of me United Sfafess
DEAR SIRs The interests Of the Ma
tional Bankers require immediate fnan
cial legislation by Congress. Silver
Silver Certificates and Treasury Note
should be retired and National BaDl
Notes upon a gold basis made the onl,
money. This will require the author
izatiou Of from $500, OOO.OO 20 el 900,
900, 900 Of new bonds as a basis Of cir
culation You will at once retire one
, third Of your circulation and call II
g one-hah of your loans. BE careful q
! make a money stringency felt amonl
1 your patrons, especially among infu
4 entail business men Advocate an ox
ira session Of Congress for the repea
Of the purchase clause Of the Sherman
Law and act with the other Banks q
your city i'm securing large petition 9
Congress for It's unconditional rcpea
per accompanying form. Use personal In
flucnce with Congressman, and parti'
ularly Let your wishes be known .
your Senators. The future lifo Of NS
tional Banks as fixed aud safe inves
meuts depends upon immediate actor
as there rs arr increasing sentiment j
favor Of Government Legal Tendo
Notes and Silver Coinage
EU0ENE III PULLEN, President
COPIED from the "GOld COuspi
racg," published by Capt. s. Mic
oletts)
Tho letter speaks for itself y
you think now that it was the tariff