The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1881-10-13

the place of money, and each ona draws the
same interest the money would If loaned
out Thus they can draw interest from
three different men Tor the same money
without letting either of them have posses
Sion of il. They keep 1t ii their own pos
session, and can use 1t for other purposes If
they wish. Thus they virtually draw inter-
est on three or four times as much money as
they possess, which must be regarded as the
climax of injustice and usurpatlon. Let US
suppose a farmer sells fifty bushels OF wheat
to three different men, W lille he keeps IT ana
converts it into bread for his own family.
This would make rich times for the farmer;
but he would soon lind himself within the
walls of a penitentiAEy 1or sWindtiug, While
the banker who taught him the lesson ana
practices the same swlndling game Is sent
to Congress. one Is promoted and the other
sent TO prison. Why this differcuce-WhO
can tell: If laborer could hire himself out
to three different men, while remaining at
home to take care of his family, there would
be but little either OF starvation or stealing
IN the country. | suggest VIC try it as
remedy for crime and suffering. Banking
has been defined by 4 writer As being = the
science OF drawing interest on what you
owe" Every bank bill is Il promise to pay
money, and this promise is Il contraction ,of
debt. And the bankers loan out these debts
and draw interest on them rs if they were
money. The farmer would consider himself
highly favored If, when he becomes involved
out his debts at ten per cent. interest m
stead of paying ten per cent, As he now does.
But he don't belong TO the - ring that is
what is the matter.
Banking is Il system of swapping notes.
Bankers simply exchange their own notes,
which are promi =es TO pay money. for the
notes OF borrowers, which notes are also
promises to pay, and thus banking Is
double ~ stem OF promises and a d0ubie sys-
TEN Of debts. And the system will Keep
any community flooded ana swamped with
DEBT which tolerates il. it is thus deadly
| enemy 10 the prosperity and true welfare oil
/ society. i he debIs OF the bank are almost
constantly either expanding or contracting,
I and this has Il disastrous effect upon the
/ business of the country. They expand then
debts by increasing their loans until theX
! become so inflated as to threaten explosion.
/ 10 avoid this calamity they suspend, ana
/ this suSpendS and stagnat-s business, and
/ often produces general distress. Ana when
/ they profes-edly resume specie payment it
docs not remedy the evil. but sometimes
augments it. When they suspend they
| lock up the gold and silver. And when they
| professedly resume, knowingIh they cannot re-
deem their paper, they place us much of it
| as possible under lock and key.
\ Thus it will be seen suspension and re-
| sump ion are the Two great tilt hammers
which alternately crush, PROSTATE and ruin
| the business of society They are both evils
of great magnitude, and Notwithstanding
the numerous evils The bankers iniict upon
| ~ 49, E'i i''- - '''N ''iS
doWed by law wltu peculiar and special
prlNle9eS, Whlch are accrued 10 no olnef
G!aSS OF people i'll any NdIi"h Oh the "orio'
Here are a lew of them:
l. inc Nofclhicho io,un ihtil po'iuH III
safe keeping for them without charging them
Il cent for the favor.
= It collects the interest on their bonds
| from the people and pays ii over TO them
| free of charge.
.. Ii furnishes hem with 1900 of bank notes
! q : 4 free off loan Tor ~ 900 OF
bends they deposit with the Government.
4. 1t allows item to draw Interest on
their bonds e. G., The peoples bonis) anu
their own bank nutes Al the sItue tllne-a
twofOiu interest.
>. 1t imposes no tax either Oh their bonds
or ON their money. but eNac's tbat mucn
more oil the people.
t. 1t places SSUO, ,tc1.uoo OF tia people :
money, called ''Fhe depoSits, IA ihcu
possession to Speculate on md establish
banks on
!. 1t allows them IL draw interest bot1
on what tie GoNerGnent (tne pcopiC) owe
them and what they Owe tue people.
s. 1t authorizes he ~ easurer 10 pay them
one years interest III advance th:a' hey may
have 1t TO Speculate Oh
| >. y law enacted lor their special bench'
i'll 1870 aul ulhOrIZeS 1ncm. after they have
flooded the country with Their nOieS, and
inflated prices of All property Ia ii2h tiLlircs,
10 suddenly contract their cIrruiHt!on, ani
thus contract and PROSTATE BUSINESS and
rum the couniry-
10. The same law authorizes them, after
| they have invested very largely IN =. prop
| erty they have thus ret.u ..'d 20 nall IrIce, O.
initiate their circulation a5Ii" ANA lllse
prices SO that they can make ial-er FORTUNES
/, | by selling ut higa pi tue irOicrsV ineS
had boug Int up Tor ii mere song. Ii Az o
these numerous facilities iOr rGbbng Sac
people do not G institute the acme Of inius
lice, high handed rODbsry and wholesale
, swindIinzs, we have no use for tne,u terms
/, tFbaS. .P,4 NT class Ip,risi4 .yi1j,.i