Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-02-26
dreds of millions of national bonk cur.


bank notes from the government by
depositing bonds paid for with green
backs which did not cost the first pur-
chaser over 40c on the dollar in coin.
He thus draws from the government
twice as much money as he originally
invested, besides being allowed the
privilege of drawing interest on the
full face value of the bonds and 80 per
cent OF currency. and all exempt from
all taxation, except having to pay
per cent on such Of the bank notes as
are kept loaned out. All the notes or
bank currency in the bank are ex-
cmpt from taxation.
In the year 1869 the bondholders
and national bankers needed a little
legislation in regard to the five-twenty
bonds which had been issued and
made payable after five years or which
might run twenty years, at the pleas
ure Of the government. The five years
were up Jan. I, 1869. The holders OF
these bonds called a conference OF
themselves, as they saw clearly that
the government had reserved the right
to pay off said bonds after five years,
with the same kind of money that 1t
had received in payment for them,
which was greenbacks, and the govern
meht had large amount of 1t on hand
piled up in the treasury, the same hav-
ing been received in payment for these
said bonds and which was afterwards
ordered by congress to be destroyed.
The conference came to the conclusion
that as an inducement to the govern
ment torefund said bonds intolong time
bonds and make the new bonds pay
able both principal and interest in coin
at the then standard and fineness,
each silver dollar to be BIN grains OF
pure silver or 412h with the alloy.
and each gold dollar to contain rs and
$40 grains-9-10 fine. A resolution was
passed pledging each member OF said
bondholder conference to recommend
to his member of congress that there
be a bill passed to refund said $1,000
900 Of five-twenties.
AS consequence, bill was intro.
duced, called the credit strengthening
act, which was a misnomer. l could
not understand why the government
wanted its credit strengthened after
the war was over. The fact of the mat
ter is the act was so named purpose
ly to deceive the people.
This bill provided for the refunding
of the five-twenties into new issue
to run thirty years, draw per cent
instead of per cent and to be paid.
interest and principal in coin.
The bill provided for payment on
or before thirty years, but the words
ION or before were erased and the
word latter" inserted, before the bill
was enrolled.
Then in 1873 there was an act passed
to revise the coinage laws. In said
revision the silver dollar of 412h
grains was dropped out of the coin
age act, and the coinage of a trade
dollar provided for to contain 420
grains of silver and was made le-
gal tender for $500 only, 1t being
claimed that said trade dollar was
coined for the China trade. What
did congress want to coin such 9 dol,
lar for when at that time the dollar
containing 412h grains of silver was
worth 103 cents in gold in Liverpool
or London? 1t was to deceive and
rob the people by making the bonds
payable in gold. That was the aim
of the tools of monopoly which make
up the American congress.
The silver dollar was the unit of
value from the foundation of this gov
eminent until 1873, when 1t was
changed to gold, gold being the only
money of final redemption to-day. The
silver dollar is to-day legal tender
and the greenback is nothing less.
There is not bond outstanding to-day
but what is payable in silver dollars.
Why not pay off the bonds which are
payable? Pay them off in silver dol
lars. The treasurer's report says there
is about 4O0,000,000 silver dollars and
bullion piled up in the treasury vaults.
Why is it there? Because the money
oligarchy controls a majority Of the
of congress.
Now, the next scheme is to retire the
$346, 100000 of greenbacks by issuing
new fifty year bonds, and
on said bonds let the national bankers
draw the full face value Of the bonds
~ national bank currency. Will the
people submit to it? We will see
And further, there will be another
issue of bonds before another year
passes. 1t looks very much as though
the people must submit to become
hewers of wood and drawers of water.
Make them poor and dependent, and
they will become humble and obedient
servants. AS it is in Europe, so shall
it be in America. We will have bar
racks, garrisons and arsenals, and a
great addition to the army, to keep
down strikers who are called anar-
chists. Then goodbye liberty, the
doors will be closed and never can
be opened. THOS. MEREDITH.