Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-07-16

the people. In the first place. 'ireal es-
| tate'' is more common and evenly dis
| tributed among the people than the bonds
| of the government, and in the second place
| it would be less expensive, as the govern
ment would not have to pay any interest on
| the real estate. Under our form of govern
ment both systems are wrong. The ma
tional banking law ignores the states and is
| opposed to the principles of Democracy.
Whenever bank is chartered by the Fed
eral government q corporation is created
| not subject to the laws of the state in which
it is authorized to engage in business. The
state only has the right to demand and COL
lect taxes on the stock of the bank The
bank is free to trample on the usury laws of
the state, and the state has no authority to
redress it grievances. A national bank is
nothing less than foreign artificial Great
ure within the state that has no respect for
the laws of the state. 1t looks to the Fed
eral government for protection and has no
regard for the rights and interests
system is to "beat out the lines of
the states and to increase the
powers of the Federal government to be
delegated to the land-holders with the right
to control the financial affairs of the gov
eminent. The system should be abolished.
The national banking system, the demone-
tization of silver and the protective tariff
Ill Z lilC Cs44o hON OpplCSSlu1 ZIG 'tOp1c
These evils can and must be corrected by
legislation. Such legislation will only
bring relief. No sub-treasury scheme will
suffice. Let the national banks be abolished
as soon as possible and substitute treasury
notes" for national bank notes, and let con-
gress pass law authorizing the free coin
age of silver as applied to our own mines
and making the silver dollar a full legal
tender' in the payment Of all private and
public debts, and then revise the tariff
laws, collecting the lowest duties on all ar
ticles necessary for the people, and such
duties on all articles not necessary for the
people as will be sufficient TO support the
government economically administered.
On this line relief must be sought to { fleet
a permanent cure of the evils now oppress-
ing the business interests of the country.
1t is the duty of the government to furnish
the people with sufficient amount of
money to meet all the legitimate demands
of trade anu to place the business interests
of the country in healthy condition. When
the Federal government has done this the
remaining work should be left to the states.
For the convenience of trade a banking
system is necessary. The states should
charter private banks to engage in business
on such money as may be coined and issued
by the Federal government. No state
should be allowed to issue paper money.
The currency of this country must have
both uniformity and stability. The states
could throw all necessary restrictions
around the banks to protect their deposit
ors, and could control the banks in the in
terest of the people. The Federal govern
ment has no authority to fix the rate OF in
terest on contracts in any state. The peo-
pie must look TO their state to protect them
from paying an eXorbitant rate of interest, |
and as such is the case, the state should
have control of all its banks to enable it to
grant that protection due the people. Let
the Federal government coin and issue
sufficient amount of money to meet the le-
gitimate demands Of trade, and revise the
tariff as already indicated, and let the |
states charter and control the banks, and !
relief will come to the people and they will |
work out their salvation in the good old !
Democratic way. o. L. PLUMMER |