The Louisiana populist., 1897-01-29
NOTES AND COMMENT.
The Same Irrepressible Conflict Il Being
Wanoa

either side in the days of Andrew jack
son. However much the discussion
mas hinged on the silver question, no
| intelligent man will deny the fact that
the money question was at the bot
TOM and was the real issue in the
recent campaign.
Not only that, but it was contest
MADE by the banks for the control Of
the currency. A contest between those
VINO seek to monopol:ze the money Of
the nation and those whose products
and labor are measured. by it. Since
Jackson's time organized wealth has
nor only increased In volur'e but In
political power and influence. Now,
as then, 1t regards the politician as a
purchasable commodity. But it does
not stop here; it enters our leglsla-
tive halls with its paid lobbyists and
spreads the slime of its corruption on
the sacradctal robes of the ministry
and debauches the administration Of
justice in our courts
The people, too, have increased in
numbers from 100000 to 100000
During and since the war the money
power, ever busy. has made It's greatest
strides and strengthened its intrench-
ment in opposition to the rights Of the
people. This has been done so quiet
ly, SO shrewdly, under the specious
pleas OF patriotism" honest money"
the national credit" ETC., that the
people to-day scarcely realize the ex-
tent OF the danger which threatens
them. Yet this greet power which
lew threatens the life Of the repub-
lie is twenty times as strong as it was
10 Jackson's time, and its ramifca-
t.ons permeate every channel Of COM
merce and reach to every nook and
corner Ct the land.
The developments Of the recent
campaign should be enough to open
the eyes Of those who have hitherto
been closed to the imminent danger
OF this huge octopus. The banks. EN-.
boldened by their successes in the
past. have openly threatened to pro-
duce panic and widespread disaster
If their demands were not acceded to
and the existing gold standard" main
tanned. The letter of Henry Clews.
threatening to invoke "the reserve
power Of Wall street. is revolution
ary in its spirit and goes to show that
the banks would plunge the country
into internecine war If it was neces-
sary in order to gain their point
That letter stands out as a monument
Of insolence and threatened lawless-
ness that justifies US IN raising the
black flag Of anarchy over Wall street.
With increased force now comes the
warning of Andrew Jackson when the
same fight was being waged sixty
years ago. Speaking Of the United
States bank in his farewell address
he said:
"The immense capital, the peculiar
privileges bestowed upon it, enabled 1t
to exercise despotic sway over the
other banks in the entire country.
From its superior strength 1t could
seriously injure. if not destroy, the
business Of any one Of them which
might incur its resentment and it
openly claimed for itself the power OF
regulating the currency throughout
the United States. In other words, II
asserted (and undoubtedly possessed)
the power to make money plenty ot
scarce, at its pleasure, at any time, and
in any quarter OF the Union, by con-
trolling the issues of other banks and
permitting an expansion or compell-
ing a general contraction of the circu.
lating medium, according to Its own
will. The other banking institutions
were sensible of its strength, and the,
soon generally became its obedient
instruments, ready at all times to exc.
cute its mandates; and, with the banks
necessarily went also that numerou.
class Of persons in our commercial
cities who depended altogether OF
bank credits for their solvency ant
means of business: who are therefore
obliged, for their own safety, to pro
pitiate the favor of the money power
by distinguished zeal and devotion II
it's service"
Continuing he said:
"The result Of the ill-advised legis
lation. which established this grea
monopoly, was to concentrate th,
whole moneyed power Of the Union
with it's boundless means of corrup
tion, and its numerous dependents, un
der the direction and command Of on
acknowledged head; thus organizin,
this particular interest as one bod.
and securing to it unity and concer
of action throughout the Unite'
States and enabling it to bring for
ward, upon any occasion, its entir
and undivided strength to support 0