Natchitoches populist., 1898-09-09
BANKS GET 1T ALL.
ENTIRE BOND ISSUE GOES TO
THEIR VAULTS.
The Much vaunted Popular Loan Will
Sooner Or Later BE an Asset of the
National Bank Syndicates-Merely o
Bonus for Their Services In '98.

| ~
Bonus for Their Services In '98.
The subserviency OK the Republican
party to the money power is conspicu-
ously illustrated in the boad provisions
of the war revenue bill that has lately
passed congress, says the Silver
Knight Watchman. In bill impos-
ing upon the people OF the country the
most onerols war taxes, levied upon
production and consumption, it 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 adanant against any measure
to limit the power of Cleveland to issue
bonds, yet they condemned the sale OF
sixty-hve millions OF bonds for 104
when such bonds we're worth 119 on
the open market. The Republicans pro-
n0unced 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
| ton
| The bond steal that is now under
way is an improvement on the Cleye-
land bond steal only In so much as it's
authors seek to obscure its outline.
The whole steal is made behind the
thin gauze Of q. popular loan. A temp
tation is offered to the people to come
forward and steal from themselves Cy
| purchasing property from themselves
at less than Its market value. But 1t Is
to be cash transaction and only those
| Of our citizens having cash to intest
can participate in tails steal, and the
| secretary " the treasury has put an In
iividual 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 CAPT
talists are to be excluded from its
beneAcence 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
ard fifty to one hundred and seventy
five millions of new twenty-year bonds
worth not less than 16 per cent pre-
MUM, at par, thus making the banks
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
1 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 five
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 employee of the
banks, together with their sisters, their
cousins and their aunts, will at once
become subscribers for a $500 bond. II
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
| There liz another purpose to be sub
served in addition to giving this mag
nifcent gratuity to banks. IL will he
made to appear that the country is
prosperous, and that the peoples pock-
cts are 80 full of money that the Amer
lean people demanded this legislation
to afford them an Investment for their
surplus funiis, 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.
If 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, hui
they would pay from fifteen to twenty
millions more for them; therefore the
present borld deal OF the Republican
party under the guise Of patriotic
, measure to enrich those already 'ricf
: and to still further plumber the tax.
payers.
: The Republican party is acting ths
part OF hilhwaymen, holding up th.
| taxpayers Iii the interests OF the money
power and the banks The popula
loan gauze is thin. The people cal
| see through it, and honest meu will
condemn any party guilty Of such acts
"A