Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-01-11

! led cliques embraced each other and
rejoiced over the great wrongs they
would soon force upon the people. The
Sherman act of 1890 was still in force,
and it was barrier to these cunning,
heartless bankers, for it supplied $4,-
100000 per month in silver dollars
That act must be repealed. A Presi-
Dental contest was on the eve of TAX
ing place and these money ghouls made
the selection of candidates for both
parties. 1t made no difference wheth-
er Cleveland or Harrison was elected;
| they would advocate the repeal of the
Sherman act and maintain the single
gold standard. Barnaboo Benedict Ar
mold Cleveland was successful. On the
list of March, 1893, three days before
the Inauguration, THE American Bank
Association" issued the following
proclamation to every national bank
in the United States: "The interests
of national banks require immediate
financial legislation by Congress. Sill
yer, silver certificates and treasury
notes must be retired, and national
bank notes. upon gold basis, made
the only money. This will require
the authorization of from $50,000,00O
of circulation. You will at once re-
tire one-third of your circulation and
call in one-half your loans; be careful
to make a money stringency felt
among your patrons, especially among
the influential business men. Advo-
cate an extra session of Congress for
the repeal of the purchasing clause of
the Sherman law, and act with the
other banks in your city in securing
large petition to Congress for it's I'M
conditional repeal per accompanying
form. Use personal influence with
Congressman, and particularly let your
wishes be known to your Senators.
The future life of national banks as
fixed and safe investments depends
upon immediate action, as there is an
increasing sentiment in favor of gov
eminent legal tender notes and silver
coinage. See Pittsburg Gazette, NO
vember IS, '93, for comments. Bar
naboo Immediately bowed to the
| wishes of these bankers and called
| Congress to convene to carry out this
edict. 1t was done; the panic of 1893
W.s inaugurated. A money panic re-
sslted; money became scarce, and Wall
street rejoiced. The cry Of distressed
people could be heard on every side,
but the ear of mercy was closed and
the sturdy collector was commanded
to give no quarter but sell until the
last farthing of principle and interest
of the debt was wiped out The Sher-
man law was repealed and then the
| issue of bonds, under the edict of
| Calico Foster, began, which Cleveland
and his Sancho Panza Secretary, Car
| Isle, lived up to and carried out to the
| letter. The greenback under the act
of 1896, an act to strengthen the pub
lie credit, was redeemaIble in coin.
Fosters edict opened the pandora box
and stopped payment in silver. This
started IAN endless chain that run
greenbacks into the treasury on one
/ side and gold out at the other. The
gold was horded and soon the treasury
Golfers were drained of gold which
| must be supplied. This caused the
! bond factory to start up, and 1T was
| run day and night until $262OO0,000
worth of bonds, payable in coin (either
/ silver or gold, was issued and sold to
appease the greed of these pet banks
and spectators. Every greenback
that was redeemed in gold by the
| trasury to bring on this bond issue
! could have been redeemed in silver at
| the option of Foster or Carlisle, and it
! was in the treasury to do so. This
would have stopped the bond business
| and this enormous debt with
| its millions of interest would
never have existed. Barnaboo
/ and his secretary tried to
| have inserted in these bonds, payable
| In gold" instead of coin, but Congress
| refused to grant the request. Now
comes in another President and Secre-
| tary of the Treasury. We have shown
| the Presidents position on the imam
| cial question down to 1896. He was
elected on a platform that stood for BIZ
metallism, but this was all a sham.
| His Secretary of the Treasury was a
red-mouthed, open, avowed gold stand
| ard man, and Mckinley was well aware
of that fact. From the start he main
tanned his purposes, and every act was
sanctioned by Mckinley. He was Sc
lected to carry out the we'll laid finan-
cial plans of Cleveland, and the result
| is the passage Of q financial bill
| through the lower house of Congress
| that embodies everything asked for
in the edict we have referred to, is
sued just before Cleveland's Inaugural
| ton by the American Bank Associa-
| ton" B. B. Dovener, Congressman
from this district, voted for this meas
ure; voted for the single gold stand
ard; voted to eliminate the green
backs; voted to change coin bonds to
| gold bonds; voted to change the or
| iginal contract; voted to change every
action the Republican party ever mode
| openly, and every action and word of
| Mckinley down to the appointment Of
| the commission that went to Europe
| to establish international bimetallism;
| voted to shelve his own acts and words
on this question; voted to make silver
| and all our money exchangeable for
gold. and that all shall be reissued but
| the greenback, and it to be issued only
| in exchange for gold, (Cleveland's idea
| to a mortal scribe); voted to leave the
legal tender of silver stand the same
| as it is. but no use to be made of it
for final payments this is the niger
IN the wood pile); voted to permit
| national banks to increase their circu-
lation to the full value of their bonds;
voted to give them absolute control
over these issues: voted to give them