Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1898-08-05
BANKS GET 1T ALL.
ENTIRE BOND ISSUE GOES TO
THEIR VAULTS.
The Much vaunted Popular Loan WIN
Sooner or Later BE an Asset of tho
National Bank Enthusiastically
Bonu. for Their Services In 90.

The subserviency of the Republican
party to the money power is conspicu-
ously illustrated in the bond provisions
of the war revenue bill that has lately
passed congress, says the Silver
lKnight-Watchman. In a bill tmpos-
ing upon tie people of the country the
most onerous war taxes, levied upon
production and consumption, 1t would
seem that the party Of monopoly and
trusts ought to be satisfied with having
protected the wealth Of its masters
from taxation by defeating the income
tax amendment, and omit from the bill
any specie scheme to enable the
banks to plumber the people. But not
so. Under the guise OF popular loan
the banks are to be given outright,
without any consideration whatever,
from ten to fifteen millions of the peo-
pies money.
The Cleveland administration was
disgraced by bond steal, and while
The Republicans in congress stood as
wall of adamant against any measure
to limit the power of Cleveland to issue
bonds, yet they condemned the sale OF
sixty-five millions of bonds for 104
when such bonds were worth 119 on
the open market. The Republicans pro-
nounced the Cleveland deal corrupt
private bargain in which about ten mil
lions of unearned dollars were put into
the pockets Of the parties to the deal
on one or both sides of the TRANSACT
ton.
The bond steal that is now under
way is an Improvement on the Cleve-
land bond steal only in SO much as Its
authors seek to obscure its outline.
The whole steal Is made behind the
thin gauze Of a popular loan. A temp
tation is offered to the people to come
forward and steal from themselves W
purchasing property from themselves
at less than its market value. But 1t is
to be a cash transaction and only those
of our citizens having cash to invest
can participate in this steal, and the
secretary Of the treasury has put an In
dividual limit Of $500 upon the first
two hundred millions worth of bonds
offered to convey the idea that the
steal in connection with this transac-
ton is organized In the interest OF
small capitalists and that large capi-
talists are to be excluded from its
benefcence beyond the $500 limit.
This arrangement, not devoid OF in
genuity and cunning, is based upon the
idea that the people are gudgeons and
can be easily deceived. The scheme is
for the purpose Of giving the national
banks of the country from one hundred
and fifty to one hundred and seventy
five millions Of new twenty-year bonds
worth not less than Is per cent pre-
MUM, at par, thus making the banks
a gift of over fifteen millions OF dol
lars. OF course, while the banks are
receiving their gratuity Of fifteen mil
lions small capitalists scattered over
the country will absorb from twenty TO
fifty millions Of these bonds and Will
participate in this raid upon the tax
payers to the extent Of from two to i've
millions Of the plumber.
How are the banks to obtain the bulk
of these bonds under the $500 limit? Is
asked. The answer is simple. Every
officer, shareholder and employe OF the
banks, together with their sisters, their
cousins and their aunts, will at once
become subscribers for $500 bond. IL
the number is not sufficient to bring
the banks the amount they require
their customers and friends can easily
be induced to become subscribers until
the amount desired is reached.
y There is another purpose to be sub
served in addition to giving this mag
nificent gratuity to banks. 1t Will ne
made to appear that the country is
prosperous, and that the peoples pock-
cts are so full Of money that the Amer
lean people demanded this legislation
IN afford them an investment for their
surplus funds, and that congress was
moved to the iniquity Of this vicious
measure in response to the popular
demand instead of acting as servants
and employees Of the banks and the
money power.
II the bonds were to be awarded TO
the highest bidders and competitive
bids invited, the bonds would in the
main go into the same hands that will
get them under the present plan, but
they would pay from fifteen to twenty
millions more for them; therefore the
present bond deal Of the Republican
party under the guise of patriotic
MEASURE to enrich those already rich
and to still further plumber the tax
payers.
The Republican party is acting the
mart Of highwaymen, holding up the
taxpayers in the interests Of the money
power and the banks. The popuial
loan gauze is thin. The people car
see through it, and honest men viii
condemn any party guilty of such acts
He Must BE . Populist.