Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-06-20
MiHlqan, WAkin ( Co,
We have several good Sec
ond- Hand Pianos which we
offer you at your own price.

farmer and laborer of this land, we will
be held at arms length, and they will
compel us to disgorge our last farthing
to meet their demands. The panic of
1911 was caused by these banks return
ing their circulation and refusing to loan
it to the people. Gold was boarded by
syndicates who began to corner 1t imme
diately after it was demonetized in 1873,
and money stringency set in that almost
ruined the masses. Prices began to fall
on all commodities, real estate to depre-
ciate in value money became scarce, and
could not be had, and men who only owed
a few dollars could borrow none. The
banks began to call in their loans, and
distress became fearful. There was
plenty of money in the banks but they
held it against the borrower in order to
foreclose his property. Factories were
closed-shut down. All kinds of business
was demoralized except that of the
banker and rich Spectator. Strikes were
the order of the day. More railroads went
into the hands of receivers and were sold
in 1876 and 1877 than all put together
before. More people lost their homes,
and more property was sold by the
Sheriffs in 1877 than has been foreclosed
of the government. Soup houses We're in
full blast in every city. where thousands
were fed. many of whom a year or so
before We're prosperous and had good
homes. The tramp came up out of the
ruins, and to-day thousands are in this
business because of the terrible cyclone of
restitution that followed in the wake of
the striking down of one half of the
Nf ;,-
creased privileges given the National
banks under the acts of 1874 and 1873,
above referred to. No pestilence, no
famine, no war, ever caused the ruin
financially and the restitution that fell
upon our people by reason of this money
panic created by the National banks and
gold spectators during the period named.
The despised greenback stood by the peo
pie. 1t was their only friend and it saved
the wreck. 1t was like ministering
angel lowering over the destinies of a
sick babe. Loud mutterings and curses
fell from the lips of the banker and gold
bug because the greenbacks had prohib
tied them from making the destruction of
the peoples interests in financial matters
final. AT once the cry of retirement of
these notes was raised and petitions
HOOueu congress TO lHdl effect, out lHdt
body had a little humanity left at that
time, and irrespective of party, the fur
Their destruction of greenbacks was pre-
vented, and to further aid the people
Congress declared that all bonds and
obligations of the country should be paid
in coin, gold and silver as minted and in
use in 1870. This broke the force of the
great panic, and turned the tide against
the National banks and money grabbers.
1t was a rich harvest for the banks.
Who has forgotten the panic of 1881 in
New York, when these banks retired
$1S.C0 900 in one day to brow-beat Con-
gress for attempting to reduce the inter-
est on bonds? Nor have they forgotten
the open, fragrant violation of the law of
July u, 1882, extending the charters of
the National banks. They work in open
defiance of the law to-day-are members
of clearing houses, which it declares they
shall not be. 1t shows the wonderful and
dangerous power that turks behind these
banks. These banks have cost the people
in the past thirty-five years over 5000 O0O,-
000 in unlawful interest enough money
to pay the war debt of 1861 three times.
The credit they sell at II to Is per cent
costs them only one per cent on actual
circulation, hence it is virtually a gift.
They draw interest on their credit, on
what they owe themselves. The notes
they receive from the government are
not money, nor are they in any way a
legal tender between man and man. The
proposed reserve notes to fill up the vac
uum of issue up to the amount of
bonds invested, are TO be legal tender
under the new law. On these reserve
notes the privilege of issuing currency
notes upon general assets is permitted up
to the full amount of their bonds deposit
ed with the government These notes are
to be paid for in greenbacks and the
greenbacks DESTROYED. Right here is
the negro in the wood pile. This plan
will eliminate the greenback The money
of the poor mantle money that paid the
soldier in the late war-the money that
has stood by the people when these banks
were using their power to make them
servants, hewers of wood and drawers of
water How will these notes better our
condition? They take away the only
independent money we have. the only
money that can't be used by the bankers
and rich gold-bugs for political" pur-
poses. They can't hoard it and make a
profit by doing so. The only money that
has circulated since 1873 without one iota
of cost to the people. 1t is redeemable
in coin but under Fosters edict October
IA, 1891 they are redeemable in gold
alone. The National bank note is redeem
able in greenbacks. These notes destroy
ed, then the National bank note is re-
deemable at the treasury of the United
States in gold. This brings everything
under the thumb of the SINGLE GOLD
STANDARD to be used for Political
and all other purposes.
National bank notes are only
simple promise to pay. The banker only
lends his credit, with which he has sup
piled himself by gift from the govern
ment. and the borrower pledges his
wealth to his support. The banker is far
more secure than the holder of the bank
paper. The banker takes pay for some
thing he does not furnish. for the capital
is furnished by the borrower. The Banker
receives something for nothing, and the
borrower pays for that which he never
gets. Banks are run on deposits. rather
than on capital the banker himself may
have. The patrons of the banks furnish
the capital and security both. He con-
ducts his business on YOUR MONEY and
HIS CREDIT. Now we desire to ask,