Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1879-03-13

The banks will take the money powers
who will take the war power, and who
the power to levy taxes and grant letters
of marquc and reprisal?
The indianapolis JOwWdl regards the
United States in one respect ''the most
unfortunate country in the world, in the
fact that its currency system is entirely
under the control and at the mercy of the
national legislature, and its volume is lia-
DC to be expanded or contracted at any
time by Il new congress" 1t does seem
rough on the people that they are not al
lowed to manage their own affairs. and de-
eide for themselves what volume of currency
they need from time to time, when bank.
ing guardians offer their services so cheap.
Besides, rs the Jo~,WoI truly says, it is
not the fashion. No other government
exercises this power. The British parlla.
ment cannot issue dollar of paper
money, neither can the German rcichstag
"Of all legislative bodies in the world,
only the American congress can exercise
this dangerous and tremendous pOwcr.
Here are two reasons given why the con-
troll Of the currency system should be tax.
EN- from congress- First, because the par
haments and rcichstagS of Kingdoms and
empires do not exercise control over the
paper currency of Europe. If this argu-
ment is entitled to any consideration, its
scope is not limited to the currency ques-
tionS but extends to the form of govern
ment as well. Europe does not elect her
sOvereienS. Kings, cmperors and houses
Of lords are invested with the power, and
exercise it without the voice or consent
Of the people. If fashion is to be the or
der of the day, why not carry it out in de-
tail? Perhaps this is the Republican pro-
gramme, and that is why Grant has been
two years hobnobing with royalty, to learn
the latest styles
The second argument is that congress
ought not to be invested with such ''don-
gcJOuS and tremendous pOWcr." We are
glad the JoWHai has admitted the fact,
that the monetary prero2atlve is Il trc-
mendous power, and traught with danger
when Improperly exercised. To whom
does this dangerous and tremendous pow
er belong? If it is not sovereign power,
it must belong to individuals or corpora
tions.
II to individuals as natural right,
then abolish the national banking law, re-
store to individuals their natural rights.
and let their be free banking in fact. If
t belongs to corporations, and they being
creatures Of legislation, they must derive
their powers from the same source they do
their lives, and as banking associations
derive both their existence and their pow
crs from the national Legislature, it is evil
dent this power of the banks originally
belonged to congress.
The question then is, has congress the
right to delegate to IL few individuals the
sole right to exercise dangerous and
tremendous power" placed in its hands
by the whole people, collectively, to guard,
and iudicOusly exercise. for the benefit Of
society individually? 1t ismore true that
"the big fish eat up the little fish than
that the scliishneSs and greed Of human
nature impel every man to get the better
Of his neighbOr. and knowing that the
right to issue and control the currency of
the country was too dangerous and tre-
mendous power to be eXercized by any
one class with safety to the others, society
pooled its individual rights to the excr-
else of this power, and agreed to delegate
the whole to a commission Of their choice
who should be under their control, to ex-
ercise it for the general good, with parti.
ality to none.
1t is not strange that ambition for pow
cr, and lust for gain should resort to ex-
tremc measures, to Sie2e tins consolidated
prerogative from the peoples custodian;
it is not strange that the deprvity of
human nature and the prospects of
share in the spoils should sGducc both the
pulpit and the press into tire support of
the base conspiracy against the life of the
republic and the liberties of the people;
but is strange that the millions who are to
be deprived OF these blessing, should lend
Il helping hand to aid the conspirators in
their nefarious work of usurpation and
robbery.