The Negro world., 1900-03-17
The Currency Question.
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frequently =fufHlSARa the HlFaflS 10
equip piratieal 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.Z Like many trust
magnates of to-day they kept their
conscience at home as Zunimpaired
capital for use in benevolent and edu-
eational 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 its tether, anxious to
spring upon its victims. IL would be
doing violence TO philology to call it
an octopus, as il has more than eight
tentacles or legs. Myriapod would
be better classification, The myria-
pod is described in zoology as a 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. l feel sure that both
philologist and zoologist will readily
agree that myriapod Is the correct
grouping for this huge parent trust,
upon which its myriad of tentacles,
extending into every department of
trade, must depend for nourishment
and vitality. Myriapod seems right,
and myriapod il shall be.
The four controlling powers of gov
ernment under our constitution are:
/. The power to declare to war.
2. The power to lay and collect
taxes.
3. The power to regulate commerce
among the states and with foreign
nations.
4. The power to coin (issue) money
and regulate the value thereof and of
foreign coins.
Can we not see that the power
which controls the money output of
nation has in its hands the con-
trolling attribute of sovereignty, and
holds the whole body of the people
and all lines of business at its mercy
There is no more pitiable spectacle
in this world than 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 tC
drive from the field their only pos
sible competitor-the government
and you have placed in their hands
the very citadel of sovereign power
For we all know there can be 10 wal
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 il
Ii is the purpose of the Legislation
now pending in congress to eNalt the
money trust TO a position of supreme
power. to displace constitutional au
| thority and enthrone self-appointec
money kings holding their positions
for life and give them a carte blanche
TO do as they please. All these grants
Of power are express and exclusive
They are all found in section s. urticl,
/, of the constitution. Congress hal
as much right to farm out the wal
making power TO gunsmiths and pow
| der manufacturers as 1t has TO farm
out to banks it's power over the cur
reney.
In the case of ordinary commercial
trusts combinations strangle ant
crush competition. But the none,
trust cannot reach it's end in this way
The government, with all it's plenar,
power over the whole question, standI
squarely across it's pathway. How Il
get rid of this supreme and omnipo
tent rival in the money industry h
the great question which the associa
ted banks now have in hand In fact
with this class of men, II has been tbt
uppermost question in this nation fo
more than 100 years-sinee Thoma
jefferson crossed swords with Alex
ander Hamilton upon this very ques
ton in the cabinet councils of Presi
dent Washington. The contest has al
ways been the banks against th
mint, the corporations against th
people, from that day to this. Th
bank won the first round and leape'
into the field nearly ~ months ahea'
of the mint. But IL lost caste unde
Presidents jefferson, Madison an
Jackson, and there has been a pro
tracted struggle ever since. II the.
can, as now proposed. strike down al
classes of money recognized in tn
constitution except gold, which Is al
ready within their control and vii
there remain. held simply as IA re
demption fund, and iarf sly in tn
shape Of gold bars, ready for expor
to Europe. then they will have clea
field with all rivalry eliminated. Thi
will create a vast artificial vacuum
law made vacuum. which the trust
will be authorized TO fiji with its Owl
product-its watered dollaTs-when
suits their imperial purpose, Tn
money trust Is a law made trust, an
il is the foster parent and life-giEe
to the whole brood of vampires tha
are now sucking the good. red bloc
of legitimate trade.-Gen, j. II. NeaH
er. In National Watehman.
| A MANUSCRIPT TREASURY.