Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1898-03-04
A. BANK CONSPIRACY.
ANOTHER TRICK OF THE MA
TIONAL BANKS.
They Are Trying to Scare or Squeeze
the People Into Submission by Re-
firing Some of the Bank Notss-Keep
Your Eyes Open.


The national banks are just now en-
gagged in playing another trick on the
American people. They are seeking
more privileges and more power with
less responsibility and more complete
| exemption from all burdens imposed
by the government.
They are seeking to avoid the one
per cent tax which the government
charges them for their circulation,
says the Chicago Express, and are also
wanting the privilege of issuing notes
to the full speculative value of the
bonds which are deposited to secure
circulation.
These bonds are the security which
the government holds guaranteeing
the payment of the bank notes, and If
| notes could be issued on the basis OF
quotations in the market, there is no
telling what might be the result.
The wild cat speculations Of former
years would pale into nothingness be-
side it.
To produce an effect on the minds
of congressman, and the business pub
lie, the banks are just now retiring
from circulation few of their notes.
The amount actually being with
drawn is proportionally very light, but
the whole strength of the treasury
department and subsidized press Of the
country will for the next few months
be utilized to magnify it into great
Importance.
The comptroller of the currency, Mr..
Coffin, this week called attention to the
fact that the retirement Of national
bank notes during the first twenty
days of this month reached the sum
| Of $9,000,000. This is said to be the
first time the retirement has reached
this amount in any one month, except
in cases Of suspensions which the de-
partment terms involuntary retire.
ment.
Under the national bank act the
United States treasurer is not allowed
to receive for the retirement of cir
culation more than 100000 in any
one month, and hence all deposits to
retire notes during the last ten days
OF December must be refused.
Mr.. Coffin volunteers the informa-
tion that it is caused by a super
abundance of money and leaves the
impression that this action of the
banks is natural business transaction,
while the facts are that it is simply
forced condition, the result of con-
spiracy by which the combined power
of the banks will be employed in Sc
curing such legislation as they ask.
Mr.. Coffin expresses the opinion that
the national bank law must be re-
vised.
That's the meat in this cocoanut;
that's all there is in it.
Watch out for few months and see
how anxious the banks pretend to be
to retire their notes and just listen to
the howl that will be made by the
politicians and the old party press, that
something must be done to keep their
notes in circulation.
But not one of them will propose
the true remedy.
Why not let them retire every note
they have issued?
For every note they retire issue q
full legal tender greenback.
If this policy was adopted this
phase of the national bank conspiracy
would be ended in three days time.
They have no real desire. to quit the
business of issuing notes, but they
want to make pretenses and thus Sc
cure laws to their own notion.
If congress was honest enough to
treat the question right they would
be invited to liquidate and greenbacks
would take the place of every bank
note.
The national bankers have the most
powerful organization in the world,
but thorough expose of this con-
spiracy will do much to enlighten the
people and lead to public condemna-
ton of their rascalities.