Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1881-08-05
CONTAMINATED.
Finance.
Editor of TIE Times.

Editor Of TIE Times:
That the readers of your valuable paper may
more perfectly comprehend the national bank
ing system, ask il as favor to the peep'e O.
Charles county, that you will publish this
brie synopsis OF the workings OF that most in
iquiiouS of all frauds that has ever been prtc-
ticed upon innocent people. Credit Nuhil-
Ter jobs, Railroad subsidies, Salary grabs. Star
Route steals, Alaska Far Company embczzle-
ments, Oil mono ,ov, Whiskey Rings. &c,
bear no comparison in magnitude, 10 The ma
tional bank sHudle.
We will suppose, for illustration. that i've
gentlemen Of Charles couuty, tired OF the ever
lasting failure OF crops in one way or another
by drought by rain, by bugs, &c, resolve to
sell their effects and live an easier life. They
do so. and find themselves in possession Of
500, 600. they purchase Il $4,000 |. :.
bond. AT the lime, they do no. know exactly
what they will DO 50 they send one of their
members TO Washington TO see the Secretary of
the Treasury To hear what he viii advise, and
see as well, if the bond is genuine. Smith
walks into the Treasurer otfive and LAYS dow
his bond; Mr. Window, takes il uP and looks
over i, and saws: Why this is a capital bond,
a 500. zoe, thirty year, SIX per cent. non-tax-
il, put i, in our fire proof vaults2 Il will not
=
ploved 10 guard it by night and by day.
Smith-We do rot rs yet, know what we viii
do.-Me have beard of the national ban King
system, aud it GU can make as understand the
working of that system, maybe VIC would like
to try cur haads in that direction, The truth
is farming don't paw. With all our ,t9rts
''riSing up early aGd setting up late, and cali
ing the bread Of careful ness we cannot, one
year with another make one per cent, upon
our capital
Windom--Capital idea sir, will explain the
working of that institution to you in all lis
bearings In fact, We tJhe Democrats sns
Republicans want every dollar invested in
bonds to be pat in national hunks. By these
banks We hope TO perpetuafe our power over
the people aud keep ourselves rich, and 20 hand
il down to poslerity. Don YOU see Mr. Smith
that the common people don / think for Them
selves They want somebody to look up 10,
and lean upon, and we propose TO sccommo-
date them. You are aware that we have Ra-
tional banking law and thai il passed Congress
in 1868.
Smi,h-Oh, yes, but went on farming, and
paid no attention 10 particulars.
Windom-Well, you have cspitsl bond,
and if you wish to go into the banking bus
mess, | will give you 80 per cent. IF the bond
in national bank notes, which amounts 10 500,
900.
Smitb-And then We will have Sl0 900 al
interest in the T. s. Treasury.
Wiudom-Why my dear fellow don't YOU
understand the banking laws no better than
that. We will take your bond and keep il
safe for you against wind or rain, bugs or hog
cholera, and pay you six per cent, upon H. and
then give you in addition 500 600, and the
Sc, 600 gold interest on the bond-S96 0O0
upon which you can go banking at once, and
iuat nj in hap - ,.rsIl
be drawing interest at both ends of the line
here in Washington and in Baliim re or as the
case may be.
Smith, think We will go in The best
banking system the world ever saw
Windom-Ies, emphatically, the best bank
idg system the world ever saw. There is now
no more need for the rich men of the country
to send off their money to California or Coo
rada, TO invest in gold mines, nor to get up ex-
pensive enterprises TO the East Indies. Let
them bring their money here, and | will fix
them up above bugs or weather food or fire.
Smith-A bonanza Truly, think we will
go in.
Windom-Why, of course you will, have
net yet told you half Y our privileges.
Smth-What, not half!
Windom-No not half. The law passed in
1864 compels the Secretary of the Treasury to
pay you interest one year in advance, in gold
upon that alone if we 1.-THE Democrats and Re-
publicans can hold the Government, you can
make handsome living by selling gold. Ana
just here let me tell you to hurry up and get
to work, for if these peStiferous fellows, the
Greenbackers, with Bryan at their head, ever
get into power, they will not only pay your
interest with their contemplate rag money, bat
they will also compel you to take pay for the
whole bond in the same, ahominablc trash.
And you will have TO 60 back to the farm and
be subject to wind and rain, and hog cholera,
and all that, or seek some other enterprise
which you know well enough one year with
another, don't pay three per cent. per annum.
Smith-Then we must hurry up. Any more
privileges?
Windom-Oh, yes, the law passed the goth
of June, 1874, gives you the power, if you go
into the banking business, TO retire your cir
culation when you please.
Smith-Wel, what good will that do?
Windom-My dear fellow, see that you are
getting excited Keep cool for moment, and
YOU shall see the very inwardness OF the whole
thing The law of 1874, as have just saad
gives the bankers power to contract The cur
rency Where money is scarce prices are low,
or in other words because the people have no
money 10 carry on business, nor 10 purchase
family supplies; then you say times are hard
Smih-Well, what Of that?
Windom-But listen, the same law gives you
the power to initiate the currency at will.
Smth-Why can't see what good that will
do US.
Windom-You shall see presently. When
money is scarce prices are low and the times
are hard; but when money is plenty the prices
are up and the country is fourishng. The
law passed June IA, 1875, gives you power to
reissue your money whenever you please, to-
gether with of course, all the money deposited