Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1899-08-23
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Organized Treason.
What does the American Bankers
Association propose to do for the Amer
lean people? Their New Orleans re-
port qS9D declares: .'rhe govern
ment not being Il producer cannot issue
sound currency" Yet the first sixty
millions of greenbacks were always at
par the globe around and never were
unsound. Then the Atlanta report
(1895) solemnly afiirms: 1.-THE value of
every coin that was ever made has de-
pended upon the weight of pure metal
In It," The well-known fact that the
pure silver in it than the standard sill
yer dollar and was worth as money
twenty cents less. answers that false
hood. And today the silver dollar
will buy nearly twice its weight In
pure silver in the open market.
Not satisfied With these reasonable
utterances this American Bankers AS
ISOLATION must needs assail the green
back decision of the United States SUI
preme Court, rendered by a full bench,
eight out of nine justices concurring.
Atlanta report QS95) is palpable
falsehood: Under the fiction of law
established by the Supreme Court, men
are compelled by force of law to ac-
cept the promise of dollar as n SUBJ
stitute for true dollar These arch
conspirators throw off the mask In the
Chicago report qS93) thus: I'm order
to accomplish this, first of all silver
purchase must cease: without this it Ia
absolutely useless to institute other re-
forms. Then our legal tenders, the
greenback and treasury notes, must
be retired. This brings MS to the ques-
ton, what shall fill the gap thus ere
ated? There is but one answer. The
present tendency in all the great ma
lions of the world is toward the bank
currency. Bank currency is what we,
too, must depend upon" The national
banks boldly propose to usurp the con-
stitutional functions of the Federal
government, and every Kan and paper
that lends them aid and sympathy In
their plottings is equally guilty, says
M. N. Butler in the Mississippi Valley
Democrat. The Detroit report QS9D.
after denouncing all government in
reference, adds: "The function of
government is to govern. The legiti-
mate function of banks Is to issue cur
rency, receive deposits. buy paper and
make loans"
These Sound money harpies" in their
Chicago report, 1893, claim that their
national bank blackbacks, with from
twenty to thirty per cent. more than
their face value of government debt be-
hind them, are over-secure, while silver
and greenbacks, with the constitutional
power and wealth Of the nation behind
them, are unsafe. If we had free sill
yer. IS to 1, unlimited coinage and al
lowed the national banks to manipu-
late the currency, in short time the
country would be in the soup worse
than ever.
The Chicago report (1S93), speaking
for the revolutionists, explains: 1.-THE
same agency ian official organ would
be their best method of influencing leg
islation. Itwasanayowed object of the
association to struggle for the repeal
Of certain tax laws. In this they were
successful. They Influenced Legislative
opinion. 1t is comparatively easy for
them to gain the ear and confidence Of
the administrative officers Of the ma
tional government. Some of their
members are high Federal officials.
The treasury department stands al
ways with its ear towards the man
ayers of the financial institutions Of
the country. But it is not SO easy for
them to win the confidence and APP
proval of the legislative branches Of
government. A great deal of effort
must be put forth to gain the attention
of Congress-" This national banking
octopus has become very vampire of
oppression that is slowly but surely
surA & the llfe-blood of the republic,
poi Ing and paralyzing the patriot
ism nd integrity of the nation. Its
baneful influence is everywhere recog-
nized, seen and felt.