Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1882-06-06
THE NAN WITH A PAIL.
HOW THE SQUIRE wAKED UP TIE WRONG
PASSENGER.

/ NhAL Ihk SUI IpLD Ihh MAN.
Eastern Argus.l
Now comes a certain theorist, who
tells US that under the national law
banking is now free, on equal terms to
all citizens, and the people are managing
their own business in their own way;
and that If man wishes to turn his capital
into circulating notes, the government
insists that he shall deposit securities to
ensure the payment Of the notes" What
mos; astonished the tkeorist was the dis.
trust of the people to manage their own
affairs, which any question of the advan
tage and universal availability of such
system Of enriching everybody indicated
and that it was not as well known that
jefferson was the first author and promo
ter of such free banking, as he was of
the declaration Of independence.
When we read this bene fcient theory
in an evening paper, BY the light Of the
cleaning, either j, or the ruddy sunset
made our heart so glow with sympathy
and goodwill, that we felt impelled to
rush out and communicate the gospel to
our fellow men. Some lAborers were
coming down the street from their DAYS
work, with covered tin pals in their
hands, and they looked weary and de-
jected We stopped one Of the men,
plucking by the slack of his over-alls,
and began to explain 10 him the merits
Of free-bsnking under the national law.
We asked him why he did not turn his
gold bullion into coin and lend it and
keep lending il {: and why ne did not
turn his capital into circulating notes and
keep circulating them. In turn, he ask
ed what amount Of capital he must have
for such a business, and we told him
that he could go in with 1000, but
now the competition was so great, there
was no great chance of success, unless he
went in with ten times that amount.
The man with the pail said he had not
even the $4,000 he could lay his hands
on, and he thought the number of men
in this city or in this whole State, who
had living around loose $500, 900 or even
$50, 900, was so small, compared with
the rest of the people, that they could be
counted on his fingers, and that if the
advantage of banking was only open to
that small class, it was not a matter that
much concerned him, and he would have
shuffied off home: but we held him
tightly by his over-alls till we made him
own that banking was perfectly free TO
all citizens, and that Jefferson approved
il. The man with the pail seemed to
think as much of Jefferson as we did.
Finding him so unsympathetic we
went on to explain Mr.. Jefferson's system
of free banking further. 'You see.
said we, tapping the lid of the pail with
our fore6nger to emphasize the remark,
IF YOU only had the capital or bullion
we spoke of, how easy it would be to get
rich. You swap your note not on inter-
est. for another fellows note on interest,
and half the time YOU manage to get
little boot in the way Of discount. VI
course the fellows note is better than
yours, otherwise yol would not swap
but YOU make him pay the boot every
time and then the government come IN
and say, in consideration of your buying
and holding its bonds, that your nom
intee st. bearing note shall be money OIL
something to pay with, while the othe'
fellows interest bearing note shall be
. debt or something to pay for. lo'
would not think it but the whole advan
e tage lies in that little difference between