The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1876-04-27
TIE CURRENCY.

!
shall speak to the following resolution
which now offer for your consideration
Resolred, That We favor the uneondition
al repeal of the resumption act, the repea
of the National Banking law-that tht
greenback currency should be made lega
tender for all debts public and private, du
ties on imports included.
At the siege Of Toulon the French gener
al ordered his guns.into position, bearing
upon the city of Toulon. Young Napoleon
was asked If he thought the hot shot would
reach the city. He looked a moment, then
pointing in another direction, said There
is Toulon" The General smiled, and OBJ
served to one of his staff officers, "Thal
Lieutenant had better learn his geography
The attack was made, with severe repulse
to the French arms. A council of war was
then held. The General then asked the
Lieutenant what he meant when he point
ed and said There is Toulon" His
prompt answer was, "The key to the posi-
tiOn, General" The guns were removed,
and turned upon this key TO the position.
1t was taken, and Immediately the white
flag was seen floating over the city of
Toulon.
Genius of the highest order knows no law
of precedent. Bound by no forms, ever
faithful, ever progressing and exploring in
the new realms Of thought. The end aim
ed at, truth. must be reached unaided by
the past. The strategies of to-day are the
disaster OF tomorrow. What has been, is
not now, and never can be.
The genius Of the republic, like the I'M
disturbed needle of the mariners compass,
indicates and points unerringly 10 the
truth but there is often an influence Turk
ing, which causes the great ship Of State to
veer from its course.
THE KEY TO THE POSITION
is bank monopoly. This excrescent, which
has become engrafted upon the body polite
ID the element now, that disturbs the
needle of the compass which rests upon
the patriots heart, and causes it to vibrate
and poins in doubtful directions.
THE SPIRIT OF LIBERTY OPPOSES BANKS.
There is nothing better established in
the past, or more certain now, than that
the people OF these United States are 3D.
posed TO the National Banks, or banks Of
issue Of any kind. They have ever regard
ed them with sort of instructive suspicion.
To banks OF issue, is to he attributed the
main cause of all the financial disasters
that have occurred In the century past to
these institutions we trace the oppression of
boarded wealth in our own country, and the
marked and visible inequality OF its citi-
zens. This is ever a menace to personal
liberty and free government.
BANK OF ENGLAND. A LEGAL ROBBERY.
This scheme of legal robbery found its
first and full development in the charter of
the Bank of England, in the year 1904
From and after 1850, these institution in
creased rapidly in Great Britain.
The first bank of issue, Of which we have
any authentic history, was the Bank of
Barcelona, established in 1901. This was
bank of circulation, but to a very limi.
ted extent-most Of its business being done
through the means of bills of exchange.
this system being first instituted by this
bank. These institutions met with serious
opposition, and made but little progress
until some time after the Bank of England
went into operation. They were regarded
on the continent of Europe with great sus-
picion, especially so in the German States,
and were only permitted TO a very limited
extent, held under strict seryiellance, were
as often expressed "an arcanum
or sort of patent medicine 10 create wealth
from naught."
The first bank of circulation in this
country was the Bank OF North America, in
1881.
The first National Bank of the United
States went into operation in 179l-on the
of the Government under the
present Constitution.
Mr.. Hamilton, Secretary of the Treasury,
urged upon Congress the importance of es-
tabllshing bank of the United States, A
bill was drawn up and submitted, with pro-
visions similar to the Bank of England.
This measure, although meeting with Wig
Orous opposition in both Houses, passed |
and became law. February, 1911, appli- |
cation was made to Congress for renewal |
Of Its charter, but the bill was defeated |
and the bank was obliged to wind up its
affairs.
TEE SECOND BANK OF THE UNITED STATES. |
During the war of 1Sl2-l5 the Govern
nent was embarrassed for want of means. |
All the banks of the country had suspend
I'd, except perhaps few in New England,
md there was great financial distress in the |
whole country. Various plans were brought |
onward In Congress without result, until |
January, 1915, when bill was passed in
national bank, and was ve-
oed by President Madison. April, 1916,
, second bill passed for Bank of the
United States, and became law. This
econd Bank of the United States went into
operation in 1917, and in one year thereaf-
er an effort was made to repeal the char
er, but without success
President jackson, in his message of De-
ember, 1929, intimated that difficulties
night interfere TO prevent its recharter,
md expressed the desire that Congress
night take the matter into early considera-
ion. On July 4th, 1882. bill to recharter
he bank was vetoed by President ] Jackson.
This bank was rechartered by the State of
in 1886, suspended in the
risis of 1887, and finally failed in 1910.
nd the government lost seven million dol
airs, the totsl amount of the stock sub
cribed
In 1857 there were 1,4I6 banks, with a
otal specie capital of fifty million
ollars, and a circulation of two hundred
nd fifteen million-about four dollars in
o'es to one in specie.
The Indebtedness of the people TO these
anks in 1857 was nearly seven hundred
lillion dollars. Let us deduct two hum
red and fifteen million dollars note circu-
'tion, supposed to be in the hands of the
eople, from the seven hundred million dol
lrs, the debt then due these banks, and we
ave balance of four hundred and eighty :
We million of dollars for which there was I
D equivalent whatever received, being ac- I
interest on the real capital of 9
lese banks, which was, in 1910, only thir- I
five million dollars in specie.
These corporations, as will, be observed a
ON notice of their history, do not do t
lsiness on their own capital. The theory c
to create capital out of nothing, or q
INK on the capital or deposits of the peo- e
e. They forage of the country like an
my of robbers. n
This f.ty-eight million dollars in specie C
I'D by the banks in 1857, were obtained as p
llows: In the crisis and suspension of Z
INKS in the years IS0S-lO, about ten mil f
IN dollars in specie were locked up be- F
nging to the people the crisis and sus-
nsion of banks in 1914, about five mil
IN dollars more the crisis and suspen-
IN of banks in 1897, several million Il
liars more. In the crisis and suspension (,
1855, these banks locked up thirty-eight q
illions of specie belonging to the people. e
gain, in 1S47-67-6l-at each one Of these Il
RODS, these institutions stole millions of p
tual capital belonging to the people. NJ
Let us now compare the national banks a
the preseut day and zee how they tally
tn the old State bank institutions. We OF
ink. upon close investigation, YOU will &c
d them to be the same old Widor Fraud m
'nly laced little tighter-that is all. pI
THE CRISIS OF 1873. q,
In 1874 when this hubble bu,.,.a 49, az