The Winslow mail., 1900-04-26
The Currency Question.
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equip piratical craft and shared in
the division of spoils But while they
furnished the money to equip they
always left the ugly work to profess
sional cutthroats. Like many trust
magnates of to-day they kept their
conscience at home as unlmpalred
capital for use in benevolent and edu-
cational enterprises.
But let us examine briefly the out
line of the great central money trusts
which is just now in process of final
development in congress. 1t is at this
time tugging at it's tether, anxious to
spring upon it's victims. 1t would be
doing violence to philology to call it
an octopus, as it has more than eight
tentacles or legs. Myriapod would
be better classification. The myrla-
pod is described in zoology as many
jointed, nocturnal, carnivorous, and
very active animal, with powerful bit
ing jaws and pair of feet for each
segment of the body. The similitude
seems perfect. [ feel sure that both
philologist and zoologist will readily
agree that myriapod is the correct
grouping for this huge parent trust,
upon which it's myriad of tentacles,
extending into every department OF
trade, must depend for nourishment
and vitality. Myriapod seems right,
and myriapod it shall be.
The four controlling powers of gov
ernment under our constitution are:
1. The power to declare to war.
2. The power to lay and collect
taxes.
8. The power to regulate commerce
among the states and with foreign
nations.
4. The power to coin Gssue) money
and regulate the value thereof and of
foreign coins.
Can we not see that the power
which controls the money output OF
a nation has in it's hands the con-
trolling attribute of sovereignty, and
holds the whole body of the people
and all lines of business at it's mercy?
There is no more pitiable spectacle
in this world than a highly organized
state of society rising in torment for
want of an Independent system of
finance. Once you allow the banks
to assume and exercise this sovereign
function of determining the money
supply, you have assisted them to
drive from the field their only pcs
sible competitor-the government
and you have placed in their hands
the very citadel of sovereign power.
For we all know there con be no war
without the purse; no adequate col
lection of taxes without nimble cir
culation OF money; no commerce
worthy the name without an adequate
circulating medium to facilitate it.
1t is the purpose of the legislation
now pending in congress to exalt the
money trust to position of supreme
power, to displace constitutional au-
thority and enthrone self-appointed
money kings holding their positions
for life and give them carte blanche
to do as they please. All these grants
of power are express and exclusive.
They are all found in section s, article
1, of the constitution. Congress has
as much right to farm out the war
making power to gunsmiths and pow
| der manufacturers as it has to farm
out to banks it's power over the cur
rency.
In the case of ordinary commercial
| trusts combinations strangle and
crush competition. But the money
trust cannot reach it's end in this way.
The government, with all it's plenary
power over the whole question, stands
squarely across it's pathway. How to
get rid of this supreme and omnipo-
tent rival in the money industry is
the great question which the associa-
ted banks now have in hand. In fact,
with this class of men, 1t has been the
uppermost question in this nation for
more than 100 years-since Thomas
Jefferson crossed swords with Alex
ander Hamilton upon this very ques-
| ton in the cabinet councils OF Presl-
dent Washington. The contest has al
ways been the banks against the
mint, the corporations against the
people, from that day to this. Inc
bank won the first round and leaped
into the field nearly - months ahead
of the mint. But it lost caste under
Presidents Jefferson, Madison and
jackson. and there has been a pro-
tracted struggle ever since. If they
can, as now proposed, strike down all
classes of money recognized in the
constitution except gold, which is al
ready within their control and Will
there remain, held simply as re-
demption fund, and largely in the
shape of gold bars, ready for export
to Europe, then they will have clear
field with all rivalry eliminated. 1hls
will create a vast artificial vacuum,
a law made vacuum, which the trusts
will be authorized to fill with its own
product-its watered dollars-when it
suits their imperial purpose The
money trust is a law made trust, and
it is the foster parent and life-giver
to the whole brood of vampires that
are now sucking the good, red blood
of legitimate trade.-Gen. j. b. Weav-
| cr in National Watchman.
A MANUSCRIPT TREASURY.