, 1877-08-21


I.v the following fn,i: I'll" 4r'1' n,I"iit:
the t1eE.,ls IN Ins4 TYR til" tn'.ulr:' so.tiny
nrc deposit. "tihont any !hfrr" "ll.lttr. II
YOU win d'unsIt with hank wihnrt interest,
will certainly 'lr!Gsit with The tinrefDn,cnt,
where ynur security will he far htttrr f1,nn any
bank can pnsat'y give. Tlr only n1li,c III:
L"nd wo'ili perform wonl he that "f n
When currency wt.n4h l,o III ,lcnlntnl for
Legitimate business tMrs wnlil,t 60 IL md eur
rctlty come out; Rnl when tl,n volume of bllst-
ness declines, AZ It does In Tho rrrIne aud
summer In thfs country, The CURRENCY won! 70
on the bond while outstanding.
iuu Will tlHtr Esc tile word "rf1steteI
bonds Jhis ohrsltta the nh|ectIon. snl urrc,
that the Hlple currency would consist uf In
viii not circulate. II fs consequently secure
from theft. M thief wonl .ssea' It, for tho
rrnsnn It could do lltn1 no good: he could not
t,seit.
Thls would 10 more tl,an provide for our
b,tr,lensunc pn11c debt; II wnuld enable the
neppc 10 supply themselves with sufficient cur-
r.,,es to tsas''nst tl,elr business III cash. n,n
thus s"fd tho n.ontta!f' of private debt Tint
every eight or ten years. Usltfy Rrows IN dctts.
Dshia arc fnat1c Il transact bttsIncss In the n-
srnre of money! and. under banking system
for not ono t11llar, of bank-ctirrcncy Ia out nt
my time but what ho1nolht1y's note Ia in hank
iOr It. 1lat inDlc Of Issuing the currency forces
MI enormous usury debt Mt Tho point Of Issue.
As the first step that Is tnalls tO got currency
inso circulation through hank, anine orc must
70 IN debt to the bank. This ,lctt Is obyatei
when citizen Is allowed to turn huut! into
the Treasury md convert Il fnto currency Then
tiin currency issues directly Into tic ronncss ot
trade, n1,lf does not start u, its mission loaded
with 10 per cent OF tisury.. To yet rid nf tho
ua,lry ytnl must get rid Df tho debt tllnt bears
us,sry. THIS cnn to dune by supplying sufficient
good money to transact l,,Itincss IN cash. No
man sells Oh credit when hG catt sell 1or cash,
and no man glvcs his no.e and f'avs Interest
when le can nvuhl II. md at the easnc time car
~ on the business or'enterprlsc that lie should
carry OH II We, as nation, expect 10 20 tDrWari
IN civilization, and not rctrograde Iuto bar
bnrlsu1.
laRuin1 currency Is no part Of legitimate bank
ing business issuing currency ID tho pre-
rnt,utIye of tho sovereign power, and no lxiuk,
either sfntc or National, ever Issued a do!tnr
upon It by a charter FROM tho sovereign. This
SOVEREIGN then had tho power. Or It co,1ll not
cDllfer 1t upon anothcr. A sovereign Cltinut
confer pave RS that he does not himself possess
Tho rJnfcrriug Of tic power upon n baiIk " H.
ti,ctcurrcuuy il special privilege. | insist TINT
the Government should exercise this power for
the benefit OF tho whole people, tn the mode
above atatctl, and not confer II upon particular
iltrnrrorators as means Of sreculating out Of
the people BY lpnnng IL UPON us,iry. And cs.
peelally 20 Insist Upon ms when It Is known
,a' ths i 'o9 OF .t,oai, ,sss, es sss.,,4Y money! y
every men, woman, and clll'l II tic
naton. Each must p0ssess a portion Of Il rs
condition precedent IL having footl mud cloth
Ing. Each must have fotNl ard ciothng, or die.
Therefore, life Itself depends upon obtaining
the Use Of this tool called money 1t Is, there:
fore, wrong for tic Government In a Republic,
ns ours y, to compel tue many to pay tribute to
the few fur tlir use OF q tool thnt Il lnnnufar-
tursd solely by sovereign authority, uud which
cac1! must o,tnsr ns condition precedent to
having food AMI clothing to sustain life. Such
monetary Rvttcnf is tile most cruel Of 1espot4.
It Ia not polite, In those who alyoratc ttle
misunderstanding system, to throw mud ut TIM
"isteTconyertible" "-bnt,L proposition. These
banks operate with the Treasury upon tic su1no
principle tint the citizen, or rairoatl. corpora
ton, merchant, or , ,m,a,,ufaetueE, would under
posst hotlds atnl draw currency. 'rhey ran re-
turn the currency at pleasure and lit their
bonds, and ngaln deposit t!iclr to,lla and
draw c,rTcncy4 WHAT insist Npon Il, let
my other corporation. and any citizen,
leppstt thrsc sanie bo,llls, or bonds represent
ini this same debt, and draw currency. and re-
turn the c',rrcncv and tnko tic bond again. We
nsK It OH more advantageous terms to the Nov-
cr1,ntcnt than these banks exercise II. We ask
that the bond be converted Into currently and
thc onttro interest upon 1t cease while II Is 10
me i!l,l eeal.tcnder currency TINT tho citizen
would draw in exchange for tic bond viii ccr.
talhly be as good 20 ig n bank draws It ont. Thu
batk gives no credit whatever to tho currcucy
y issues. This Is proven beyond controversy by
the faet that. utter fourteen ychrs' experience,
|! Is found that the lunknotu Is Just ~ good, Ii
not littfe better, after the bank fnEls than it
was bctoTc; atstl no ono ever lopkcd Mt
nationA!-Ianis notc to Rce wIlnt bnnk Issued It,
to YET crnlllsc tl!c point Us to reeevlng 1t.
Thu tlcnnt,riatio,l Of t!!e lcgal.tcudcr quality
Of thc grccntsack, bs, tho .adyocatcs Of bank.
say the least, IN bad taste. Tho l,ak.t,oto i'd
yoratc Insists that such note will always nav
debts at It's facc.stluc. The fcEai-tcu1cr qualE-
Is of the Erccnbaca makes II nay debts 1T its
ffasevains s and , no nors Tsev arc t! nnu.
md rags VII you please. Now, y II tstruc that
tho hank.nott IL olw'nya good for Its facc In pay
mcnts, ai,d t1ntJs guod thing for IL to possess,
that sN11so thtn9hhbutt1 not be denounced III the
AtioM because 1t Ia always good tor Its fnrc tn
payment Ut taxes, such baHk-llote deserves the
aatnc; but tho fhct that one Ii denounced, and
thu other not, leaves tho lurking suspicion that
the hullonists want the spccte-tas's hunH-tIole,
80 s; they con have q PAPER dollar TINT can 10
shaved; i not lefnE leEal.tcndor, no one IL
compelled IL rercSe It; hence It III II, thu power
ol tlIc creditor to compel hta debtor 10 sell
such bal'k.Iiotes tn tho broker, nnt ataEd sayu
~ get tlnt tnoncy that u by tho law legal
tender. T,l!s IL evidently pout tic goil-buEs
want to carry; for, 40 toon US The ErcenEark II
destroyed, tho only leCal-tendcr currency left
Will be guild .t,ln; cnre they can cut bat,K. notes
~ the m!tl1!a II they want TO do II. It becomes,
tl'oy no longer possess. JAMES BUCHANAN.
Tho Right to Employment,
CHfcu1o Frsfe trssss, Aup,Is.
The question whether man lns RIGHT TO
demand work from socIctv is absolutely denied