Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1897-06-25
LIBERTY FROM OLIGARCHY !!
Are Human Rights and Liberty to
Be Crushed to Earth, and
a Moneyed Oligarchy
EnthronedP

Enthronedp
Are human rights, liberty, to be
crushed to earth, that property rights,
moneyed oligarchy, may be enthroned
This is the all-importaDt question before
the American people. into which all
others are resolved, a question often, too
often, lost sight OF in consideration Of
detail, but which. ever present, cannot
safely be ignored. To do so is to open
the way to the enslavement of our in
dustrial classes, the undermining of the
Republic and the building up of an
oligarchy.
| A generation ago, the nation in bloody
strife, overthrow one oligarchy, the
slave holding oligarchy of the south, an
oligarchy as detrimental to master as to
slave. At the same time the seeds of a
new and more far reaching ollgarchy
were sown. The war called into being a
new class. 1t made the opportunity for
class caring less for country than for
self, caring naught for the sufferlngs Of
humanity, weighing not injustice where
their pockets were concerned, caring more
for the dictates OF Mammon than the
teachings of the Savior of man, to exalt
themselves in riches, in power, in the eyes
fees of their fellowmen. The sacrifices
cheerfully made by our people to over
throw the oligarchy of slavery, to free
the black slave from bondage. the cheer
ful offering up of life and properly on
the altar of human rights, the unmur-
muring payment of burdensome taxes
gave evidence Of the highest Of patriot
ism. But there were men in the north
who saw in the war only source of
profit, men who made no voluntary sacri-
fee, who offered neither life nor property
in defense Of their country, who protest.
ed against bearing their share Of taxation
and schemed to throw the whole expense
of the war. an expense that they schemed
to double or treble, upon those least able
to bear it. upon those fighting the ma
tion's battles, filling the nations purse.
These men were the money lenders, men
without sympathy made by our people
were worthy Of the highest patriotism,
the contemplate effort Of these men to
profit from such sacrifices, to take ad.
vantage of people in the hour OF their
direst need, was the foulest of treason.
Yet patriots suffered while traitors
prospered. The war made demand for
money. The money lenders took udvan-
tage of 1t to exalt money above man, and
so ultimately to enslave men for their en-
rlchment The government, pressed for
money, issued its promises to pay at some
indefinite future. The first issues of
these promises to pay, known as demand
notes, were received by the government
in payment Of all public dues. They
never depreciated. First. $50, 900, 600
were issued; then $40 900. 900 more. They
were soon exhausted. The issue of more
of identical kind was proposed, the gov.
ernment was in dire deed. such issue
would have brought relief, but in its
extremity the money lenders stood in the
way. They fought the issue, denied the
government this relief until tribute was
paid them. Their representatives in the
halls OF congress refused to authorize an
additional issue of notes until their de-
mands were complied with. These de-
mands were that the notes which were
made exchangeable at their face value
for government bonds should be dis
credited, systematically deprecated by
the government. They demanded that
all further issues OF notes should be made
with the explicit declaration that they
were inferior 10 gold, that though good
enough to pay the soldiers on the battle
field they were not good enough to pay
the interest on the public debt and would
not be received by the government sur
rendered to money lenders, for custom
dues. The defenders Of human rights
IN congress, confronted with the alterna-
tive of suffering the collapse of the
finances of the government and of the
war, or Yielding to the demands of the
money lenders, vehemently protested. but
surrendered.
So the greenbacks were issued with the
demanded exception clause; issued, dis
credited by the very stamp put upon
them by the government, made receiv-
able for all dues, public and private,
except for customs dues and interest on
the public debt. They rapidly depreci-
ated to 60, so, 40 cents on the dollar, and
at such depreciation were exchanged, at
their face value, for government bonds.
Thus for s4OO. or $500, or 5000 the money
le1ders secured bonds for 81, 900. In this
way was the cost of the war doubled. In
this way was the burden falling upon
our wealth producing classes. who were
fighting the battles Of the nation, and
who bore the weight Of taxation, in.
creased.