Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1896-10-07

LAoS' eop'ofcCie pugnt financially
IL Is not necessary to describe th
: financial condition OF the countr,
and an empty United States Treas
ury.--Empty az far as the money ro
tquired to carry on the rnnning OK
penses of the government goes.
Everyone knows BY experience wha
our condit oa is. 4 million of men on
OF work with dependent families a,
property holders, farmers and busi
ness men, losing every day, and al
most wild with perplexity over tn,
situation Of not being able to nak,
Gods meet. is the tsle thst the wore
painter refrsins from touching. II
ls tais that oct Of feeling for all ht
passes by. The democracy who have
thus by two baltic cyi.s succeeded
IL winning two administrations oi
government, are working fIr a third
administration. Their
THIRD BATTLE CRY
IS free coinage If silver. They pro
pose change of financial system;
they propose the resurrection of the
doctrine of states rights which il wss
believed was settled By the war
against rebellion; they propose to re-
construct the Supreme Court.
Their winning Of two edministra
tions under The battle cry against the
surp! US and against the tariff, has
produced dreadful results, but if they
succeed ths third time under the bat
tie cry of free silver the evils of the
two former administrations will be
niid compared wiki what is to follow
their third iE4roduction to power.
They will uproot the present
FINANCIAL SYSTEM.
Just what they viii do, they do not
tell, excepting thas thsy viii open
the mints to the free coinage Of sil-
yer regardless Of relationship to or
E;!h o.5cF na.ions. Tbatis one print
they arc clearly expressed on. An
other poiat IS, that they will uproot
the present banking system. WHIST
they sill set up instesd Of tie pres
cat banking system, they hava NOT
clearly defnad- Their Apostle Mr.
Bryan hes not fore-shadowed what is
20 take the place CT the N,tional
Banks. II 10 has formulated & sys-
tenn be has poi stated It. If his pur
pose is to issue government notes
'Hith silver f9r redemption money, he
las Tot said so. But taking the maa
and the financial company he is in,
be may favor an issue of paper mon
ey, such as the French Assigrnteg or
Continental Money, which both
brought indescriSable financial ruin
in their day. Or he may favor a sys-
ten Of State
WILD CAT BANES
such as followed IL :hs wake oi An
drew Jackson's over throw of the f.
na1cial system that was adopted
when Continental money faded.
President Jackson's uprooting Of the
United States banking system, was
followed By system of State banks.
Undsr the Wild Cat bank era all
that was r5ceasary, WIS to go t. a!
State Legislature and secure chsr-
ter for bank, tten have the baak |
.caes p,iniod Tith thJ name Of tie
hank en- tie roieg and stars business. |
..s6eiiYa a5pos;ia and lgsuo tbs nct.s. |
The rotcs wsre redeemable in specie !
coin. The banks under the law
were required to keep in their vaults
IS per cent. Of their issue in coin, SO
q reserve fund to redeem notes with
Yhea aQts holders waited sound |
money. Bank .xamiIsrs were ap |!
pointed under the lay, whose bus;- |
ress il was to visit ard exsmire tbs |
banks at ftstei times, and $50 to ii /
that s sufficient amount OF coin was
or hand for the redemption Of the
notes. This defactive baking SIS
teIa Tss broken every time the demo
Gratis pazsed
4 Low TARIFF Law
such rs Tie Wilson Tariff Law that |
the democrats have now in operation. |
About The time the Jackson:an |
w:ld cat State Banks were pUt in op-
ersiion, low ta;iff law was passed !
by the democratic party then IN pow-
er, and that caused the manUfactur-
ing establishments to c;ose, because
the manufacturers could not manu-
sacture goods as cheap.y as they do
III Europe where the price OF re " 1na-
terieI aud labor is cheaper than here
in Ainer.ca. The importers and job
bcs5 in forsiSn goods filed the coup-
try With cheap goods from Europe,
and low prices everything prevail
ed. The foreign goods had to be
paid in coin, and the coin was drsia-
ed cut OF the banks, and as the times
grew harder, people who bad msney
laid sway IN the banks were compel
led to draw oa their deposits aad at
last when the note holders presented
tie bSnk notes for redemption in coin
the coin was not IL the banks scd
there was Only one thing for lie
banks to do, aad that was tc close
Ike doors and announce inability to
pay either deposiior or note-ho,der.
The bank examiners Of those days
have bsen severely denounced for not
finding out the weakness Of The banks
that they examined, but it hiss since
been revealed that in many instances
the bankers tricked thsm. When the
importers and jobbers in low tariff
foreign goods wsre draining the ccun-
try OF lis coin 10 pay for the import
ed goods, the bankers would h.l the
lower portion OF their coin kegs with
sand and cover the top With a thin
layer OF coin SO when the examiners
looked into the coin kegs, they had
the appearance OF being filed With
coin toy the redemption of the bank