The American. (Omaha, Nebraska) 1891-1899, November 04, 1898, Image 2
THfl AMERICAN, YOUR LIBERTIES ARE WnllSlrect tin Conceived the Idea of Placing Commercial, Pnrrn Injr, Hnnklng and the LABORING CLASSES IN BONDAGE The McCleary Hill, n Ho! Damnable and Iniquitous Measure, I Hie Snare with Which the Plan to Override the Consthutlon Is this n Roman Measure? The pro; le if &vul (Vimrrs sional IMstrl.t of Nebraska HI ' " ll.n miI1 on the 8'h ' ',t n,,,n,h ami iMnmlne amim othor thins. who shall n'rpnt th.m In ronarp fr two years from th 4th f n-xt Man-h. Th Amiil.an brllevra that It owm tlnty to It r'ntli-rs to bU thorn ar vlve at a wis ami iati-ltlo conclu sion. Our niilm I to inloll th tn-1 slltiUWms of our country. Tim prin ciple! of the Declaration of Indepen dence end the safeguards of liberty contained In the constitution ate 1r ir to us than the ascendancy of any clique or faction. Th IrreprwMlbln conflict lnHwcen the men who, would, through legislation, Intrench thmii sdves In power to weaken or destroy the constitution and with It liberty It self, by substituting- the whim of the Individual or of a corporation, fr the will of the people, wa never more apparent tlun now, There la no piece of legislation le fore congress which concern, the peo ple of the Vnlted Htntea more than the measure known an the McCleary bank ing bill, which stand tipon the House calendar ready for nassaue. Thla Jilll haa the endowment of Secretary Ontsa and haa been recommended for passnrc ty a republican committee of the House and It la to be made re publican measure. ' It la the moat far-reaching propo sition of It kind that haa ever been proposed to the American rongreas. Ill principle haa never been Indorsed by the people, and never will be when fully understood. The Hunkers' Mng axlne for last month said: "It la not beyond hope that when the banking bill comes before congress It Will go through without being made a political Issue." This declaration glvea eolor to the statement that this measure Is to be passed surreptitiously la to be sneaked through congress with as lit tle debate na possible, and above all things the people are not to be In formed about It through the channel of public discussion prior to election. II Is not a people', meaaure. It la not a measure with which many banker, are satisfied because U meana- the ab sorption or the destruction of the pres ent banks, It mean the bulldlnt np of a gigantic bank monopoly In New York, with 10.000 branches acattered ll over the country, by which the prices of everything are in be con trolled and the business Interests of the country are to I subordinated and virtually enslaved. President film tnonda. of the Fourth National Rank of New York, expressed the Idea when he said publicly, that THERE MUST UK A ni'I-INO CLASS AND A CLASS THAT IS ni'LKD. It Is against this sentiment that The American rebela, In thla country there can be no ruling das without the destruction of our system. The bravest utterance which John M. Thurston ever made waa when he said that TUB MEN WHO BTAND FOR THE DOLLAR MUST STEP ASIDE AND HIVE WAY TO THE MEN WHO STAND FOR THE STARS AND STRIPES. The Mc Clcary bill ta a Wall atreet measure; It has the aup- port of the great speculative banka of New York It la their bill. Thla fact alone I enough to create atispl rlon, but an examination of Ita provi sions discloses that If ;t becomes a law K will revolutionise the banking business of the country, and under It the moat gigantic commercial trust the world has ever known could be tre ntcd. In an Interview, Oeorge Fred Will' lama of Massachusetts makes the fol lowing expose of the McCleary bill Mr. Williams says: "The plan cornea In the form of a proposition to retire the government BiDcr money by aubstltutlng bank notes. Yet the liability to redeem these substituted bank notes etlll re mains upon the government, until, by taxation wrung from the poople or by bonds aold by the government, these bank notes themselvea are retired and IN DANGER'. cancelled. tcsiica tnese nan nines. It Is pro"cd to confer upon the tanks thw privilege f Issuing HO per cent of their paid up capital In bank notes, which have no security except the as set of the bank. All of thes notes, which, together, amount to 120 per cent of the bank capital, are redeem able by the bank In gold on demand. If redemption Is refused the dopifall sud other properties of the bank are to be applied In liquidation to the re demption In gold of the bank notes. "The wtujle scheme Is predicated up on the Impossibility of the suspension of specie payment by the banka, while the burden of gold redemption aa sumed Is greater than i a government Itself haa undertaken. With the first large export movement of gold It Is likely, If not bound, to precipitate a general suspension of specie payments, The business men of the country can not protect themselves against the lia bility of their dpolte for the banks' currency debts, as all the national banks are forced Into the scheme, and me tempiauon io secoru s i n"i notes for each dollar of government paper delivered would probably prove (ou .. ( in,n(tlieca Sacra, April, WH.) too great to be resisted. Her t Ion 43 of the bankers' proposed "It Is explained by the committee w cxempta them from the state law, which reported the bill that the supply 1 against usury. It will be remembered of gold can !e regulated by the sea- that In the annunl address by the pres board banks through the raising of the (dent of the American Ihtnkera' asso rate of Interest, after the manner of elation, he said; "It I conceded by the Ilnnk of England, but It la appar- evy intelligent man that usury laws ent to every business man that with 4.000 banks competing with each other ilinu onnnrtt PAtfit I tt t A I lift fntfl iff iflffT lini i siMinUi m b)mimv - i et ns does the Ilnnk of England, And It I equally apparent If they can do It through a romninauon or me great bank It simply means the forcing down of the prices of commodities at will. "If, then, this great power of regu lating the prices of goods ran be ex ercised by tha banks through controll ing the rate of Interest the anme bank . can control commodity prlcea for spec- ulatlve purposes. If the business men ' of this country wish to sea their goods tossed on the waves of Wall atreet a stocks are now tossed they may secure It by assisting the republican party to pass thla bill. "To any man of open mind can be demonstrated that this scheme I framed to create a gigantic banking monopoly, under which the smaller banka may be wrecked or controlled. The provision for branch bank mean a roving commission to the great bank to convert every small bank Into branch or make It a helpless tool. "Matters have also been arranged through the aystem of clearing house; agencle that upon any ahortagn of a ... . ... . . , u 1 ..... I. a gold the bank notea of country banka may be thrown upon them by whole sale, to that they will be compelled to suspend or purchase gold of the great banka at any price demanded. As If It were not enough to enslave the smaller bank and make the de posits of business men A play of spec ulation, a most Infamous scheme haa been devised to put t; entire machin ery beyond the reach of the people or their representative In congreaa, There la a provision for A board of three comptroller, with A twelve-year term of office. The first appointee shall bold office for twelve, lght and four year respectively, "Thla Is an actual aubveralon of re publican lntltutlon. The longest term known to the legislative department of the United State government 1 that of alx year for senatora, yet these men are given twelve. They have the power lit will to expand or contract the currency, and thu make the gov- ernment Itself the tool of the specu lative market and place all buslnesa In their power. I.cst the people or even a president should try to check their abuses, It has b"en provided that they shall not be removed from office, ex cept what Is practically an Impeach ment. "I submit to every honeat cltlxen republican or democrat that thle plan I not only revolutionary In Its nature, but It is tho creation of a despotic S t.wmW, 1W W.lm ! f.t 4 Ik ttt 4 t t t-ww ih Htf '' ,v' lt sMUkm.nl f If tk 1 s a W ti r trs ,n4 t mxm lr'". tea' is Vsskt ft',i ks ff,M4 ta ! U rlf tSt II f f.rwUt f tfcs 4ptt Iks liiy l Miile t these tteat ft a. nirtws last thf will b ty fpsay rewde, kt I alwp'e peinMl o the Mil Ktf P"'f timt K snsd ! b"M U this Hak iir-m the td"pradaie of .itac aa4 the .mrsi ttarif that It sef mt in have pstalM opposi tion at the statt. but If ths iwpla shmitd wndrrsisad thla measure ths r pulill.wa party would Ih swept from posrr by tidal wave whbh would Iravs not a wreck behind. No wonder that at the monetary de bats In Omaha even Mr. McCleary, who reported thla bill, and Mr. Fowler, his aaorlste on tha banking committee, Inith alnmlutely refused to defend the measure, though we nagged ami rid iculed them In our attempts to drive them to a defense. No wonder thst Mr. Overs! reei of Indlsnapolls, also of the banking committee, who haa been challenged In the public press tit hi own city, refuses to speak upon It. "Silence I the only hope of success for such an outrageous measure." Prof. C H. Walker, of the Massachu setts Agricultural college, says on this ! subject: "There Is a great danger that bank ers with l.ooo.mio.ooo of dollars In their hands of the people's money, to expand or contract as they see lit, will be a law unto themselves; that with this great money power they would hire lawyers to Instruct the Judge how to Interpret the law. and elect congressmen to pass amendments to the law to suit t.em. This great danger waa seen In Jackson's, time, and led to the overthow of the national bank. The altitude of the bankera to ward the government In Lincoln' day was one factor which led to our pres ent national banking system. The dictatorial power of the bankera of r-r(ipn toward tne control or ii,-nn ... wnr n,j niltnal policy Is notor Huron, toward the control of pence on the alatute luniks of nearly every stats are relic of barbarism, and tnai ttiai fittnmtt nliv would be greatly ben- tiwi I.WHMIMI.". t - cftttcd were they abolished." In the proposed banking law the community Is not Informed of the I great benefit which Is to be conferred upon It by the bankers through repeal ing the clause which protect the peo ple from tha bankers. The proposed law simply states that the banks, In addition to "discounting," shall have power ' ni1 " Prom,'","r' notes, drafts, bill of exchange and other evidence of (lent, , - . i,t the crowning villainy ' say, Mr, (leorge H, flhlbley, "In this pro posed banking Inw Is the provision for branch bank. It la an InnocanHoog. Ing clause, but when we consider that tha way the meat trust operates I to adsorb whatever territory It desire through the establishment of bnanche which drive all other out of the busl ness through underselling for a time, It become clear what this "branch bank" clause means, It means that If this law I passed, the big speculator, great creditor and monopolist will get their financial grip on the produc ing and trading communities of the j Untied State and the republic will b I ... . . . i. . ..., lU... mttll tiUfl If A thing of the past. Fvery small bank er will be frozen out, Just a the email nroiirlntor have been frozen out In meat market, the petroleum business, In bakeries, tanneries, cordage, distil ling, brewing, the mining of hard coal and Iron ore, augur reflnlng, th man ufacture of glucose, railroad transpor taton, the telegraph business, the tol stihone. the detiartment store ana other Industrie too numerous to men tlon, "Are the producing tnd trading cliisse ready and willing to legislate Into existence a trust which shall 'back up all other trust which may eecurt a representation In the uoara or ai rector In Wall street, and which ahall oulcklr extend 'trust method' to all the flclda not yet occupied?" That there I yet In tha proposed law a provision for the consolidated bank ing and money trust, 1 the statement of the committee which framed the bill. Chairman Walker, in A minority report Agalnat the bill. tate that the result of the authorization of the branch banks will be "one great Unit ed State bank, with 10,000 branchea," And the majority report In favor of the bill, written by Mr. McCleary, ad mit that Scotland with a branch bank system baa only ten bank, with 900 branchea. And the "rolling up" of trusts In Great Rrltaln I only Jut beginning; In Ixmdon the morning pa- (Contlnucd on page 2 ) (Mill (Hi lt 6b 0(f Our Bool) Catalogue. ANTI ROMAN HOOKS. "FIFTY TEA US IN IIIB CHURCH or ROM B." by IU. Chaa Chlnl- quy; cloth, 100. "THE PRIEST. TUB WOMAN AND TltRI ONIl,E8SIONALk, ' bf R?. Chaa. Chlnlquy; doth, $1.00. "CONVKNT LirH UNVEILED," by Edith O'Oorman; cloth, $100 AMKIHCANISM OR ROMANISM, WHICH?' by J. T. Chrlatlanj cloth, $1.00, nKKDfl OP DARKNESS " by Rer. J. O. White; cloth, $1.25. ROMANISM AND THE REFORMA- TION, by Rev. Guinea; cloth, $1.00. ROMANISM AND TUB REPUBLIC, by I. J, Unlng, $1.0 J REV. MOTHER ROSE, by Dlshop J. 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