The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1898-07-08
WAR REVENUE Law AND BOND DEAL
NATIONAL BANKS GENEROUSLY FIXED so AS TO MAKE
TWENTY PER CENT. ON OUR WAR MONEY.
GAN ANY BANKER EXPLAIN THIS GREAT OUTRAGE.
A Simple Statement Why Bonds, Instead of Being a Necessity are a
Public Crme--Almost n Ordinary, Intelligent American Citizen
Can See How a Clique of Shylocks Propose to Hold Up" Our
Own Country.

1t is said that we canot afford to do
that. to give them this money without
charge, issue the full mount and re,
lieve them from taxation, give them
the circulation without drawback,
Why? Because we need the money,
and they say their money is so much
better than United States money: that
they can we'll afford to make the sacri-
flee. 1t seems strange hat if the
United States issues money and gives
1T to the banks that such money should
be any better zone than is issued
directly by the United States. If any,
body a explain why it is, should
like to know. l should like to know
why it would not be just as good
money if the bonds were deposited in
to give the money away to the banks,
HOW IT'S DONE.
The reason why this pressure is
brought upon congress is the vast spec
ulation Of the banks. They are de-
termined, according to the plan put
forward in Indianapolis and in Balti,
more and by the secretary of the
treasury, to have the privilege of re-
a donation without cost. There are
nearly 1000 national banks. They are
everywhere. The officers of these banks
meet every man who goes to the bank
for accommodation. They bring their
power to bear upon their customers,
They control votes everywhere, and
that is why We are departing from the
said to feel badly about it.
teachings of the fathers, departing
from the customs of the better days Of
the republic. That is why we are
building an enormous national debt.
The increase of taxation now neces-
sary for this war n the increased ex-
p~enditures at home and abroad require
a larger circulation. If we hold the
possessions which we are acquiring, we
population in the next year. Money will
population i nthe next year. Money will
be required there, n more none,
ought to be issued. We proposed to use
the $42,00O 900 of seigniorage which i.
lying idly in the treasury, but that is
not granted to us. That cannot be
used. 1t must lie die and we must
borrow money n pay interest on it.
There is no reason assigned for it.
1t is true that the committee has re-
ported in favor of coming 81, 500, 900 OF
silver a month, when the secretary
might coin under the present law. if
he wanted to, four times that amount.
1t is, however, an answer to his sug-
gestlon to sell the bullion at auction.
Inc secretary has made the world be-
lieve he was going to put it on the
market and sell it at auction.
The coinage required by the bill is a
little damped on that scheme. 1t is
to be coined into dollars, and it will
eve him from attempting to coin
it into something else. 1t is a little
check on the wild schemes of the en-
thusiastic goldite who presides over
the treasury department. That is all.
1t is not half what he ought to do if
he would do his duty in this emergency.
He should be in favor of %availing him
self of the $42, ZOO, 900. 1t is the best
money they have, better than gold. Sill
yer certificates are better than gold.
Money is useful in proportion to the
functions it will perform. If it will
perform all the functions of money, it
is useful. What more faithful money
exists in his country than the silver
certificates? One-half of your whole
business is done by them. Go anywhere
and you will find them circulating from
hand to hand. You will find them in
the banks. They are not hiding away.
They have much better habits than
gold. Gold is a natural traitor, and
always was. Whenever there is a
struggle, it goes abroad and becomes
~impounded under foreign mint laws.
You have to issue bOnds to redeem
the traitor n bring it back. Gold has
never fought a battle. 1t is the specu-
lator's money. It does not serve to cir
culate among the people and it never
did.
We are willing that the rich shall
have their lind of money for specula-
ton if they will allow the poor to have
money that circulates. That is all we
ask. We do not propose to demonitize
gold. We are willing that the specula-
tors shall have gold. Nobody else ever
used it. 1t has always been used fol
speculative purposes. 1t has left every
country in time Of war, n it will con-
tinuet to do so. But the habits of silver
certificates are excellent. My friend is
laughing at me, but he does all his
marketing and his business with them.
All of US do. You do not handle gold.
1t is no good for any purpose except
speculative purposes.
PEOPLE ARE WEAKER NOW.
In the last year of the late war the
internal revenue tax on the business
of the country raised $500, 900, 900. That
was When we had 10000, 900 population.
You annot levy that amount of tax
on 70, 000, 900 people without causing uni
versal distress. Dur people today can
not pay as much internal revenue taxes
with the same ease as 20, 900, 900 in the
1AOl1A Souiu pay uuAAA6 SAC wal, Uc-
cause you have not got money to pay
it with, You will find it everywhere
in business. 1t will be a great annoy.
ance. Money will be scarce. Times
will be hard. 1t may be that the ma
tional banks will take up some of these
bonds and give US some money; prob
ably they will. They will not, however.
if the scheme spoken of here of the
bonds being taken by the people is
successful.
At the battle of Sacramento, during
the Mexican expedition, Uncle John