Iron County register., 1897-09-09
THE PEOPLES ENEMIES
plan of the Money Power to Retire
Greenbachs and Silver.

This is no idle invectiye. It is only nee
essary first to consider the objects at
which our masters aim, and second. the
methods which they have heretofore
employed.
And first as to their aims. They have
left no room to doubt that they desire
to abolish all government paper cir
culation, and substitute therefor bank
paper. Our government paper is in
round numbers as follows:
silTeP eertihcates. registering si: 900
Treasury notes Of 1880. represent ''O'OO'
ing silver bulion...................1 $50 600 900
TotaI 1885,, ,000, 600
Their first object is the cancellation
and destruction OF the whole greenback
circulation. Next, the destruction of
the legal tender quality of the silver
dollars and the destruction of all the
silver certificates. The actual circuIa-
tion of the silver dollars, when robbed
of their legal tender character, they
think, would be inconsiderable This
would be followed up by a sale of all
the silver coin and bullion above, say,
S50,000,000 for the benefit of spectators
price caused by precipitating so large
an amount upon the market.
This large and steady contraction of
the currency, which has already reached
the line of money famine, is intended
by its authors to further PROSTATE busi-
ness, to bankrupt merchants and man
ufacturers, and to starve the country
into accepting their scheme. They
make no concealment that this scheme
is to inject into our financial system
the poisonous blood of irredeemable
bank notes instead of the healthy and
natural supply of real money coined
from that one of the precious metals,
the coinage of which they have stopped
by criminal methods.
The coming months of the year will
be marked by increasing business fail
ures, encouragement and desperation.
This increasing prostration and par
alysis, with increasing failures and in
creasing suicides, are being planned for,
by the despotic power which controls
this administration, as deliberately as
it prepared and brought on at the ap-
pointed time the panic of 1898, and with
Ghe same object in view. All the states
d
large measure of prosperity from 1878
until 1892 inclusive. This period was
exactly coincident with the partial res,
tcration of silver coinage in 1878, and
its enlargement in 1890. In 1892 the gold
power determined upon desperate
struggle against silver. They could not
again secretly sneak a clause into any
pending measure for the demonetiza-
ton of silver, as they did in 1878 by this
help of John Sherman, and they de-
sided upon onep warfare. They needed
only the completely of President Cleve
land and his secretary of the treasury.
They had already chosen Cleveland as
their instrument, and foisted him upon
the democratic party by corrupting the
convention, and through him they had
chosen a secretary of the treasury who
would be their slave. They had pre-
r:ously used Harrison and his latest sec
retary of the treasury, Charles Foster,
| 20 inaugurate a dishonest and unlawful
practice of redeeming silver obligations
Sn gold. This produced a run on the
| gold in the treasury. which so reduced
| it that it was only by the skin of his
| teeth that Mr.. Foster was able to turn
| over to his successor the $10O,000,OOO in
| gold, which Sherman had originally
| fixed as the amount of the redemption
reserve. Even Mr.. Carlisle squirmed a
little when he was called upon to con-
tinue this infamous outrage of exclu-
sive gold redemption. He must have
talked too freely, for his alleged pur-
| pose to pay out silver dollars got into
| into the papers. He was instantly muz-
9led by the president, who Immediately
authorized published statement that
| gold redemption would be maintained.
| Carlisle got into the traces as meekly
as any old omnibus horse, and pulled on
| his load as faithfully during his whole
| term.
Exclusive gold redemption almost
Immediately produced the intended
effect of cutting down the reserve be-
low what the bankers had fixed as ''the
safety line" Carlisle, Cleveland and
the bankers and their joint newspaper
organs Immediately advertised that the
treasury was bankrupt and the country
OH the verge of ruin. This alarmed the
foreign holders of American securities,
who plunged them into our market for
whatever they would bring in currency,
and they then got gold in exchange for
their currency and took it out of the
country, The administration and the
bankers made themselves bears in the
money market. They devoted their en-
ergies to breaking down confidence in
the government, and business conf
dence between individuals. This they
did as the first step toward creating
the panic which would alone serve their
purpose.
They then raised clamor that the
purchase and coinage of silver was
alarming the world, and must be
stopped. It had not at any time Gre
ated the slightest alarm or disturbance.
On the contrary, under it the country
was most prosperous. Benjamin Har-
rison certified to the splendid effect
of the Sherman purchase act upon the
business of the country, with its pur-
chase of 100000 ounces of silver per
month. Read it in his message of De-
cember. 1890. The first sign of want
of confidence in this country was given
as a result of Fosters and Carlisle's
put-up Job of raid on the treasury
gold. and the false howl of the Cleve-
land administration against the public
credit. AS soon as Cleveland was in
aupurated the repeal of the Sherman
purchase act was loudly demanded by
the gold trust. Who that read it can
ever forget the dark chapter of history