Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1877-10-20
INFERENTIAL TESTIMONY.

ofthe question for moment, and weigh
the
INFERENTIAL TESTIMONY.
IF money is sovereign power, and cur
rencv the instrument through which it
acts, the issue of currency to the people
gives them the use of sovereign power
individually through the instrument that
each thus holds, and each member OF
the sovereign body becomes 10 degree
the sovereign power, and the combined
action of all would be the sovereign's
act as one, and the issue of large volumes
of currency should be followed by great
feats of sovereign power and vast pro-
ducts Of creative or sovereign energy.
Examples: The old continental currency,
faulty as it was, conquered England and
laid the foundation of new aud repub-
lcan form of government that is fast
revOlutionizing the world.
England's large issue of irrsdefmo6te
currency conquered Napoleon, and plac-
ed her commercial and Industrial in
terests far in advance Of all other ma
tions The issue of greenbacks by the
United States conquered the southern
coufederacy, waged the most gigantic
war in the annals of history, and yet
made the people more prosperous than
in any period of their existence: a
like issue by France recently freed her
from the grasp of German Conqueror,
and actually made her richer 10y her
loss, like ourselves under the issue OF
greenback currency Why? Because
all her sovereign creative powers were
employed in the production, exchange
and accumulation of wealth individual
", and as a sovereign or unit she be-
came more wealthy and prosperous by
the increase Of her individual parts in
wealth. Thus France has to-day more
treasure in her vaults than any other
nation in the world.
Again you say Mr.. Editor:
Money is already held in plenty by
the city banks, and only needs good
collaterals to bring it into circulation,
and that too, at low rate Of interest.
But the trouble is there is no business
TO Justify borrowers in taking risks. y
Now, Mr.. Editor, what Peter said to
Simon, we say to the city banks aud all
other banks and their "good collaterals',
'.thy money perish with thee! What
we want is bureau of Finance to be
established under the treasury Depart
ment, with branches in each State, ''to
distribute public currency, therefore
money, ("not priUafe or corporation
currency, therefore not money! to the
people Ito whom it already beiongs) on
their securities, first classified and au-
thorized by Congress at fixed official
and equitable price (per cent. per an
num), sufficient to meet the expenses OF
the system and provide against ccntin-
gencies, say 3 per cent. per annum.
The due at the Bureau TO be intermlna-
ble on the payment of the annual per
cent, or determinable at the pleasure
Of the debtor;thus establishing f'anciat
rgualiIy, by which the industries, ban
kers and capitalists may obtain the use
ofpublic currency (thereforethe sovereign
creative power of money! at just rates
and or equal fermSj place the key OF the
peoples vault in their own hands, regu-
late the volume of currency by legiti-
mate demand, and overcome the curse
of usury without usury laws.
With such currency, Mr.. Editor, all
..business," Farming, Manufactures, and
Commerce, would all, as borrowers be
justified in taking risks" and the two
millions of idle tramps be converted
into useful citizens: But with corporate
money at six, and ten per cent, that is
from 8 to per cent. more than labor
can make, never, six, never
JOHN A. THOMSON,
Summit Point, jeff. Co., w. Va.
Sept. 3, 1877,