Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1900-10-11
Mexioo Audrain County, Thursday October 81 1900

y
bondholders are delighted, for the
bill was in their interest on each
point. Though they get a very low
rate of interest, they get II for q
longer time and they get il in gold.
4. 1t prepares way to get rid OF
greenbacks and other government
Issues of papsr money and gives the
National Banks the exclusive privI-
lege Of issuing all the currency. In
other words, the government has
turned over to National Banks com.
plete control of the volume of cur
rency of the Republic.
8. The National Banks are allowed
TO open their own currency up to the
full amount of their bonds deposited
with the Secretary of the Treasury
II they should see tit to do so Il does
not require them to issue any par
ticular amount of currency. A num-
Der Of bondholders, say ten, may de-
posit in the Treasury $4,000 Of
bonds, face value, and reoeiYe $780,
600 in national bank currency. They
may place the whole OF this amount
In circulation, or they may place one
half, or one-third, or 0ne-tenth
thereof. Thus they can make money
scarce and dear, or they can make IL
plentiful and cheap. II prices go
up,they can call in their currency lock
It up for months, and prices go down
and "hard timesn stalk abroad In the
land. When speculators and finsn-
cial wire -pullers have brought the
country down on its knees, they can
throw their currency out at low rates
Of interest, send prices up, and for
tunes are made. VIII banks and
speculators and financial wire- pull
ers do such things? lie it wise, pru-
dent and just to place such power in
the hands OF any set of men? Do you
endorse such policyP win you sup
port party that makes such law?
II the government stands security for
the currency of the county, why not
let the government itself issue the
currency? Who has ever been hurt
10 any degree BY the greenback cur
rency?
8. Heretofore all National Banks
paid tax of one per cent. per year
on their currency Tin cIrculation'-
not on the amount issued to them by
the Treasury department. This bill
reduces that tax to one-half OF one
per cent.-cuts the tax down one
haIf-glves bankers a little premi- |
um to handle our currency In addi- |
tion to the exclusive privilege OF |
handling 1t. All other lines Of busi-
ness are weighted down with taxes
higher and higher as the years come |
and go, but National Bank taxes are
cut down. Who "bosses' Congress
and the President, corporate capital
or the plain people of the Republic? |
7. The bill requires s150,0O0 900 In
gold to be kept in the Treasury for
redemption purposes. All silver doll
lara AnA all papsr su.oney nre-re avom-a
able In gold, and when the sum falls
below 800, 100000 the Secretary Of
the Treasury Is authorized to sell gold
bonds to make up the deficiency.
Then those who hoard up silver dol
lars, silver certificates, greenbacks,
etc., etc., and present them for re-
demption can easily force sale Of
bonds and thus enlarge and extend
the national debt. VIII any one do 90
mean an act7 Wasn't that very thing
done few years ago, and Cleveland
and Carlisle sold s262, ,OOO,O 900 of bondsf
Do the Republicans desire to destroy
the 'sendless chain2" They have
perpetuated it. The big New York
banks can force an issue OF bonds
three or four times per year, and they |
will do 1t in due time. Thus the final
of the national debt is POSI-
lively prevented. In whose interest
is this sort of legislation The peo-
pie or the moneyed magnates7 "A
wayfaring man, though fool" or q
wild ass can see through It all.
8. 1t may be seen this bill perfects
the Money Trust, which is part and
parcel of q great international money
combine to control all things-labor,
prices, politics and governments. 1t
was Garfield who said; "He who |
controls the volume of money COM
mands labor and fixes prices OF ali the |
products of labor.n
Q. The following statement Of
moneys redeemable In gold may be
taken as very nearly correct:
cks..........a... .S346, ,661 ,016 |
Treasury (Sherman )notes 10000, 900 |
Silver dollars & certificates 4s2, 900, 900 |
TOTAL. .s......s...s.,.. $Slo,oel,Ulo |
Start the "endless chain" and run 1t |
judiclousIy and discreetly, and the
bonded debt will be increased without
q cause, except the privileges given
moneyed men by this infamous law.
Atchison Gets Judgment,