The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1872-05-22
The CurrenCy-VieW of the cues
Int iSr, '''.3 'f' a''i'5

NOW rs 'iniS OlspOScU VI:
TO what purposes and in what
order Of preference is it applied
Of this total Qess than, seven
hundred millious) Of currency the
preferred claim, that which is GER
tain to receive first it's full amount.
is the claim, for seven hundred
millions Of dol ars Of Federal and
State taxation. ......s
The suction power of this en-
crossing claim is perpetually. drain
ing this fund. 1t is gathered by
collection of taxes and deposited
in banks, to lie there until'by drib-
blets it is paid out to the creditors
of the several governments, Fed
eral and State. t'u,.r .4ns fsa.
Then all the banks, railroad, in
surance, gas and other dividend
paying corporations have to accu-
mulate in bank and have ready the
amounts to be paid in dividends
The banks have three hundred
millions of dollars. that being the
amount Of their capital. ID sasH-. ta
The. fact is, and an investigation
properly made, would more than
confirm the statement, that the
aggregate loans by all the banks
on stocks and bonds are to the full
extent of every dollar of all the
capital of all tile banks. 4 'Fa rsssi
Again, the claims Of landlords
for rent and Of capitalists for in
terest on bond and mortgage alb
sorb "a large amount which lies in
bank waiting the gradual with
drawal by the current expenses for
their families Of these capitalists
and landlords. TO,
Now with, all these incessant
drains upon the great pool of the
currency, who will give us any
clear estimate Of the reliable sup
| ply to those producing Industries
which really have to pay all the
taxes. Federal and State, all the
dividends of all corporations, all
the rents to landlords and interest
on mortgages? z""r-7s2 t'az adf
Does not the simple statementof
these fixed facts carry to every
mind the conviction that our Gnan-
cial policy, asst now exists, is both
Injurious and corrupt ,sf,,,,,
In Car. any one doubt the propriety
| of securing to. productive industry
aipreteTence, by excluding non-pro-
duetiyelloans from the banks ~
I Ought not every facility Of ac-
cess to money be secured both in
amounts and rates of interest, SO
that the largest production and at
lowest rates may be secureR Very
Large. productions, with corresponds
ing sales will lower the price OF
commodities without lowering the
price oflabor, asrmay thus be.made
apparent, Il = ,Hatuo1ua3 ols,4
If a manufacturer Should sell one
htindred pTows at ten dollars, and
should make a profit Of one dollar
on each, he would clear one hun
dred dollars On the whole while
his peighbor, who should make and
sell 81 thousand at nine dollars and
ten cents, oboth1 paying the same
wages, the last, though making
lonly ten cents per pillow, would
make the. same profit; if he should
1sell' nine-and a-half dollars, Ii e
would make five hundred dollars.
Though selling at fifty cents per
lplowslcss than the; other, he would
make FIVE times as much money.
Our banks have to such an ey-
tent come under control of stock
land bond spectators, that prcduc-
tive industry is .habitually forced
into the market to be shaved at
rates ranging from 8 to 25 per cent.
while leans on bonds and stocks
range from 8 to Z per cent.
Banks should be strictly prohibi
ted under severe penalties from
lending a ;, dollar on bonds and
stocks. ca 3aT = bl. n
'H The very moment a bank says it
cannot lend it's funds to productive
industry, it confesses there Is no
occasion for its existence. The sole
justification for giving to a bank
corporate privileges is to, secure the
apphcatioh OF It's funds to this very
productive industry purpose. ,Pri-
yate ban bankers sers needing no corporate
privileges, can loan on stocks apG
bonds quite as well in eyesy,res
ipect as corporate banks. It is
wholly unnecessary to. incur the