The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-04-09
TOPICS OF THE DAY.
Questions Of the Highest MOmen.
Discussed at short Range.
s2.O25. OOO. 600 IN TWENTY YEARs,

questions Oh the highest MOMeul
Discussed at Short Range.
S2,O25, OOO. 900 IN TWENTY YEARS.
There lies before us piece Of pa
per upon which IRE imprinted these
words: The Union National Bank
Of Chicago will pay the bearer on
demand Five dollars
It Is ours. We exchanged the
products or our labor for it.
Now then, We want to know II the
Union National Bank OF Chicyo Ices
not owe us the sum Of five dollars?
This piece Of paper Is y promise to
pay the bearer. i've dollars, hence
It's very words imply that i II indebt-
ed to as, the present bearer Of 1t. IN
that sum.
Three months ago business man
borrowed this piece Of paper Of the
Union National Bank, agreeing to
give for the use thereof the rate Of
eight rer cent interest.
morrow, after getting 1t Of Us
again ia exchange for the products
OF his labor, the same business man
who borrowed 1t returns it to the
Union National Bank with ten cents
In addition for the use Of 1t.
Now then, that ten cents Is exact
" what the Union National Bank
has drawn in interest money upon
what?
Upon 1--we dollars which it has
actually been owing for the last
three months.
This piece Of paper, commonly
called national hank note, Is not
the only one which the Union M
tiOnal Bank Of Chicago has loaned
out during the last three months.
It has probably loaned out = quar-
ter Of y million dollars Of them, upon
which it has drawn eight per cent
interest upon two hundred and fifty
thousand dollars OF its own indebt-
cdness.
In short the Ucion National Bank
is an association Of individuals who
are living upon the interest on what
they owe!
The two thousand and more ma
tional banks in the Unite States
are so many associations Of individ-
uals who are drawing interest, ut
various rates, ranging all the way
up to as high rs Is per cent per
annum upon what they owe!
These two thousand national
banks have out upwards Of $3.50, 900,
600 OF these promises to pay. In
other words they owe the great
multitude OF holders Of these notes
upwards OF $3.50. OOO. 900, upon all Of
which they are drawing interest!
The total interest which they
draw would, ut an average rate OF
ten per cent simple interest, amount
to IS, OOO.O 900 dollars per year.
They have annually drawn thirty
five millions upon what they owe!
They live In reality us the worth
less vagabond affects to live when
he In q careless rolicking mo cd tells
you that he is "living upon the inter-
est Of what he owes!"
Their total circulation during the
twenty years Of their existence has
amounted to 1880. 600. 100. an aver
age u upwards OF $3.50, 0OO,O 900 per
annum.
In twenty years they have drawn
from the people in the shape OF In
terest money upon what they owed
the enormous sum OF 500, 900 900.
Not only have they drawn this
amount upon what they owed, but
they have been, during all this time.
drawing interest from the people.
through the government. upon up
wards Of $4O0, 900 900 OF bonds. am
ounting to not less than $375, OO0.-
600 more.
From the people direct,a through
the government they have drawn rs
interest upon their untaxed bonds
and as interest upon what they
owed. tho sum OF not less than ST.
O75. 100000!
In addition to this they have loan
ed out on IN average deposits,
money which business men have
temporarily deposited with them
TO the amount of $475 ON. 900 per an
mum, the interest upon which has
amounted to 81. 5OO.000 year, OF
$3.50. OOO.O in twenty years!
From interest upon what they
owed. $7OO,OOO.OtN!
From interest upon untaxed bonds,
1876, 100000!
From interest upon other peoples
money, $3.50. ZOO, 900!
! A grand total OF %, OPS, O00, 900!
This is the tribute which the Ma.
tional bank system has extorted from
the productive enterprises OF this
country in twenty years
| This national bank system is tht
citadel Of the Money Power.
| Against this system The Sentine
says the Greenback Labor party
should raise the black flag and give
or take no quarter till it is wipet
out of existence.
| Government loans direct to thu
people is the club that will knock thu
brains out OF this gigantic Shylocl
Of the nineteenth century.-tChicagt
Sentinel.