The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-07-16
The National Banking System.

robbery and financial piracy; because
it creates wealth on one hand and pow
erty on the other; because it wrests
from the people their constitutional
rights over the currency Of the country
and puts it in the hands Of a few bank
ers and financial schemers: and, be-
cause it violates the mos. : al and i'm
portant rights Of sclf-goyernment.
know the nationa. banking system
is not generally understood, and this is
the only reason Why il exists to-day.
BY the national bs.n.., law i. capitalist,
with 100000, can 20 to Washington
and invest his ssiu.u,;i il Government
bonds, he can tlicn deposit his bonds
in the National Treasury and draw
an annual interest from the Gov
ernment. The Comptroller OF the Cur
rency then issues him 10 yer cent. Of
his bonds III blackbacs currency, which
| amounts to 500 u. This II, 900, this
generous gift from the Government, he
takes home 10 start q y .tioaal bank
with and to lon to tho people ut some
high rate OF interest. Nov. eannot YOU
see that this banker-tiis capitalist
increases his capital from ,'ivt.UoO to
$19O,OOO in q single transaction, and
without doing a stroke OF work, with
out creating cent of wealth? Yet some
men may toll and sweat lifetime and
still live in want of the necessaries of
life. This is our present aational
banking system; this is what they tell
you is the best financial system the
country has ever known. So it is-for
the bankers.
Now, want You to be honest. After
this banker--this capitalist the
value of his money in bonds and his
interest in gold, was lie cntitled to
anything more? Did tho Government
owe him another cent? Yet it makes
him free gift Of so, 90, and then
forces, compc,s, the people to borrow
this same lnoaey of the bankers before
they can have d currency to carry on
the commerce of the country. This is
our national banking SYSTEM This is
our financial system that is making
serfs Of the people and kings of the
| bankers.
Now, ! want you to be honest. Was
not this s;'l,bJ mere gilt from tho
Government to the bankers? Is not
this infamous class Legislation for the
| especial favor OF money, Il men?
It is q law OF political economy that
the amount of monev III active circu-
lation, other things the same, controls
and determines all prices, and, o course,
it follows that the power that controls
the volume Of currency .ontrols prices,
and SO national bankers have this
power.
/ know there is i popular lelusion
that it is altogether the laws OF supply
and demand that rsgtii..t prices, and
not the amount OF mosey Ill circnla-
tion.
Let ne explain this. Suppose there
| is enough money in tha country to
make wheat - i. hushe;, an, suppose,
without any change in the volume Of
currency, there is All increase in the
supply of wheat sufficient TO drop tho
price ten cents bnshci; then wheat is
81. 80 bushel. Then suppose there is
only enough money i'll the country to
make wheat 81 bu,Lel, aad suppose
the increase il the supply Of wheat is
again sufficient to drop tine price OF
wheat ten cents Oh the bushel; then
wheat is only ninety cents bushei.
So Won 81, TIE price of wheat is Sl,9O
a hnshel = o.5e cas-. ard ninety cents a
busllel in tia tt.ssF. ard With only the
same iucrras" il e sf.,,ply Of wheat
each time 'Tnsif now ,,:e volume OF
cnrrancv ..l..cts ,.r;. !; .,aneudent 81
the law; of .ip,,,t u.,.i ,l4nar,i. SO /
say fla NAT, Ill IL ]. ;.as, this CON
troy over the .;.ite of ,,operty
AMI nrc.ln.ts IL the r,,8ct.y. This
power of ii.iatioa .,i.i eontgac-
ton al the c,,rrencv: this power OF
contfoliil'S pre- 'His :".s'i - sael
the business ~ Wy ..''''' at's.''.''
80 .il'.' lnsn - .ai'..'. ..'s','o ,a,ses'
tneif money - i..'a s'N" - W.. l,'i..s -,
Ml'n ;,ns .rl eei ea.h,s ~, 80 - - 49,. ~ ~.
"; NY .'.'i'.".
VIII i'',a - ..isi -. -. :. al .'l
III ! lew YEAR me- '. = "
Penas at. s'al,ts ~ =. '''s sN.'esos''s
~ .ilo i.'.i'iis' = '''' ~ I.
Saii any ssss :. ~ is'''' Nv 'i''s lc'se'
,aooi = ,i''.''.s' = ~ inei's 7
Dahaers anu .a 's'al's's ne !, 'rue sss
YEN 1aii 80 ls,s'e ~ NY" l''',i. .nei
o"n inIei ss' ''A ...'.a. ..,'i'.e'.'
pai,y 'a..s ia''ts SUN - .iiss''a''o.i =
p'.nA.i.s ,,,..- - ,.. a. .;,,o
IL. ilc s,ios ~ ,'a ~" 'au i,,, na'ioli.' I'D.
a.. 'lAs = s'a'n 's'.'sp ny ~ n.y.. ma,:
.le la'ioi,.'. ''n1a.s 80 ~, ~ elio Wy ~
eiilliehl .ol iio'i'.''s 'n'. ia.a ;. ~ .A
peopic ~ soh.' II = iase - s i.1's'u W us., !.
" - pel oei'.' - = = =. so.i.o W.. =
ein States, 'au . ia'i'aa,e ~ aae, .aA aA,
M lreir homes W se..i,i's anu p..y
Mien 'iie ''''',Ae's 80 80 ',ie .o'i''is .ai
% loaiis. aha 'es.'c .ls peoi'le ean p
them on 'h''' '"h'i'''' s'ie cur ieii' '''.i'
lower the price Of wheat and hogs an
all the nroducts of labor. so II renu;re
twice the amount of agricultural prod
nets. twice the amonnt of the sam
labor and property. to satisfy tho sam,
morteaoes. taxes. and interest. This
how the national banking system on
crates. This is how the people ar
LOSING their homes. This IS how tn
national bankers are SO fast aecnmulat