The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1899-10-18

take away the liberties of the PEG.
pie, their lands and personal prop
erty. Among these sneak thieves
are the National bankers, for under
a plea for honest money they want
to issue dishonest money, for Ma
tional bank paper is not full legal
tender, nor can it be without a
change in our Constitution, for Con-
gress only can issue legal tender
money,
John Sherman in his campaign
speech in Ohio in 1879, said; "Con-
gress may coin money and regulate
it's value. It may call ten grains Of
silver dollar and make it so; or it
may coin potmetal into dollars;
but National banks cannot coin
money. They only issue their
credit. so that when National banks
get the gold standard by law, lock
up or destroy the greenbacks and
issue all the paper money them
selves. The only legal tender mon
cyl in the United States will be gold
and silver in limited quantities
only.
Now, as the coin of the United
is only a fraction of what is neces-
sary for our commerce, the people
must of necessity then use National
bank paper, so that the banks will
thus control the circulation neces-
sary for free commerce. They can
expand or contract the paper circu-
lation at pleasure, and thus control
the price of every dollars worth of
property in the United States. To
illustrate, supposing The GAZETTE
borrowed money and gave a mort
gage on the paper, and if, when the
debt became due, the owners could
not meet the obligation and to sat-
isfy the debt, the paper is offered
at a Sheriff's sale. During the sale
friend steps forward with a roll of
bank notes. Unless your creditor
was willing to accept them, the
sheriff would say; ''this note and
mortgage calls for money. Gentle
men, these notes are not money and
I can't accept them He would
then proceed with the sale and your
property would probably go for
less than half its worth.
Or, supposing the bankers want
ed certain law passed by Congress,
as they wanted the repeal of the
Sherman law in 1893, they would
only have to repeat the process
of '93, when they called in much
of their circulation and forced
collections of over $500, 900, 600,
when all property would again de-
preciate and bankruptcy become
general, as it did then. say then,
that these men are a setof dishonest
scoundrels and those who support
them by their votes and influence
are either ignorant dupes or dis
honest knaves who expect to bene-
fit by the infamy.
One thing more you charge me
with, and that is, that I "failed to
explain the present excellent con-
dition of things, and the advance in
the price CT labor, etc. That was
not part of my subject, but it is
easily explained.
Our war with Spain caused a
large demand for goods to equip a
large army and navy and the dis
bursements of the government are
thus scattered among the people.
I'd. The large demand for men
and goods increased the demand for
labor, consequently wages in some
lines have advanced, giving labor
some what more to spend in con-
sumption of products.
Sd. The famine in India and
the shortage for export of the agri-
cultural products Of other nations,
have increased the demand for
United States agricultural products,
especially wheat, meats and wool.
Australia, the great wheat country,
having from long drought lost more
than one-third of it's sheep.
4th, and chiefly, the money power
OF the country has decided to ex-
pand credits and refrain from fore
ing collections, as they have mon
ey bill they want to get through the