The midland journal. (Rising Sun, Md.) 1885-1947, 1900-01-19


and the bill before the Senate both decree
that these millions Of United States money
shall be exchanged for gold and destroyed
as money, and its place supplied, if sup
piled at all, with bank notes.
In order to get the gold when the stock
in the treasury is exhausted the Senate
bill empowers the Secretary of the Treas
ury to sell bonds to any amount required
to get gold to redeem" or exchange
for this more than nine hundred millions
Of good government money.
These bonds, not taxable, will be a
mortgage debt on all the property in the
United States except on the income of
millionaires, drawing interest at 8 per
cent for 80 years when the principal will
become due. In short, these millions of
the peoples money are to be destroyed
and its place in the treasury will be filled
by taxes collected from the people least
able to bear it, aud its place in the circu-
1ation of the country is to be filled with
bank notes issued by the national banks.
A mortgage debt is to be placed OH the
property of the nation upwards of nine
hundred million dollars, in order that
national banks may have the privilege of
issuing their paper to supply the place of
the government money that has been
destroyed.
The bankers will purchase the bonds
from the government with the green
backs, silver dollars, &c, which they
gather up as ii is deposited by the people
/ in the banks, and turn over the bonds to
the U. S. Treasurer as security for their
face value in bank notes, which notes
they will loan out TO people in business
needing money The banks will not be
charged any interest by the government
| for the use of these notes and the Treas
urer will pay the banks 3 per cent per
annum, interest on the bonds, paying this
interest in quarterly instalments. The
bonds and currency are both exempt from
all taxation.
Who is to be responsible for the re-
demption, or exchange. of these national
bank notes in gold if called for is not
clear. The government prints the notes
paper currency-for the banks and
guarantees it to be paid if the banks, or
any of them, fail or go out of business,
and in such case they would be paid i'll
gold by the government, as that is to be
the only legal money after this bankers
gold standard bill becomes law. But
while the bank continues to do business
who is to redeem its notes in gold on
demand is not clear But we guess nobody.
And now this is an honest analysis of
the Sound money" and gold standard"
| financial system which the Mckinley
trust papers and Wall street bankers have
been hammering into the stupid people
ever since Mckinley got into the White
House-by some means, foul or fair.
Does any honest man or woman with
five grains of common sense believe the
measure an honest financial measure, a
measure that will benefit the people
more, or as much as all issue of money of
all kinds i'll use by the government in
place of bonds? The government is to
Issue bonds for which the people are to
be taxed to pay interest on i'll order that
national banks. which are private corpor-
atoms, may be provided with security or
collaterals, on which the government
issues currency to them to the amount of
the face of their bonds.
The more this Infamous thing is looked
into and studied by the rules of common
business methods, the more absurd and
rascally it appears.
We don't like to say harsh things that
CRATE on party prejudices, but farmers,
laboring men, mechanics, merchants and
alive are all in the same boat, and
what helps or hurts one helps or hurts all
this is what is being saddled upon us
all by this Mckinley trust party. Look
at it. Think of it. The Senate is filled
with trust and corporation lawyers and so
is the House. The lobbies'of the capitol
are full of trust and bank lobbyists
working with brides and intimidation on
members to get their bills through. The
bankers had committees appointed at the
last Congress to prepare these bills, and
the first bills introduced at the present
session were these bank bills. The men,
bers of the House on the Republican side
were penned like flock of sheep in what
Is called a caucus, and the leaders gave
them to understand what they were en-
pectei to do or suffer the consequences
for refusal.
The bill was introduced into the House
without examination by a committee
the usual way-aud put upon its passage |
without debate. Not solitary Repub-
lican member dared to speak a word or
vote against 1t
There is complete servitude for you;
and an inkling Of the despotic methods
of the money power Are the independ |
ent people of America going to submit TO
be driven up TO the polls in the same
seFyile manner and by that despotic
power, and vote for its pepetnation with
its British financial, imperial, colonial
and trust policy1 Or will they assert
their manhood and American indie
pendence?
But what is the Treasurer to do with
this money, these greenbacks and silver
dollaFs when he has redeemed them nv