People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1893-07-07

stronger than the love of office.
TESTING THE PRESENT BY THE PAST
On July 4th, 1926, this grea
statesman died. Two generation,
have come and gone, since he folded
his hands in eternal rest.
The Government which he did Sc
much to establish, still survives. a
political Party which processes to
follow his teachings, is in full pos
session OF every branch of the Ad-
ministration.
It's platform of Principles recently
revised, repaired and replenished, is
known to all the world. Its Policies
are being outlined by It's Leaders,
and being debated by all classes OF
citizens.
Let us to-day do ourselves the jus
tioe to firmly investigate our politi-
cal status.
Let US without the assistance of
Beef-Tea, or other doubtful COM
pound, imagine that we are all Cobbs,
OF Alabama, and anxious to know
"wHERE ARE WE Ar?"
What were the evils Jefferson most
feared?
We have already seen how he
dreaded Slavery. Wisely did he
toretell its consequences.
In the year 1921, he said that
''the public mind would not bear''
his proposition, made in 1776, for
gradual Emancipation. "Nor will
it bear it, even at this day'-1821)
But the day is not distant" eontin-
ued the prophet " when the public
mind must bear it, and adopt it, or
worse will follow! Nothing is more
certainly written in the book of fate
than that these people are to be
free"
Knowing how terribly correct was
his foresight upon this subject, his
warnings upon other subjects in
crease IN Importance.
JEFFERsoN'S FEARS.
/. He foresaw the dangers of the
Funding and National Banking Sys-
TENS. He saw that Hamilton en-
couraged the spectators to gather
all the paper money, which they
bought for song, upon his intima-
ton that they might exchange it dol-
f@1 foI -eie41is1A4s, 4or <aoverraaeas Bonds
bearing high rate of interest. He
denounced this Funding scheme as
plot to get the money and the wealth
OF the country into the hands of a
favored few. The National Bank
was even more pernicious. Listen to
his words. In letter to Mr.. Gala
tin, in 1903, he writes: - No.
"Thls institution National Bank
is one of the most deadly hostility
existing against the principles and
form of our. Government.
Ought we then to give further growth
to an institution SO powerful, so hos
tile? y Now, while we are
strong, it is the greatest duty we owe
to the safety of our Constitution to
bring this powerful enemy to a per
feet subordination under its authori-
ties. The first measure would Doe to
reduce them to an equal footing with
other banks, as to the favors of the
Government. But, in order to be
able to meet combination of the
banks against us, in critical emer-
gency, could we not make a begin
ming towards an independent use of
our own money through the Govern
ment's sub Treasures ?"
He predicted that the special ia.
vors granted by the Government to |
The National Bankers would result in
an aristocraoy of Capital,
which would dominate legislation,
oorruptly influence elections, and |
,ubsidize the press.
But while he thus denounced Ma.
5ional Banks, he was still severer upon
State Banks.
In his famous letter to Jno. W.
1ppes, he entered into an elaborate
discussion Of the dangers, the rascal
ties, the corrupting influences, and
he swindling capacities of State
3anks. | mean, of course, State
3anks Of Issue.
Mr.. Jefferson writes: y y "And
0 the Nation may continue to issue
is bills as far as its wants require,
nd the limits of circulation will ad-
ait. Those limits are understood to
xtend with US, at present, to $780,
10000.
"Blt this, the only resource which
be Government can command with
the States have unfor-
lnately fooled away, nay corruptly
lienated to swindlers and shavers,
nder the cover of private banks.
"But although we have so improyi-
emily suffered the field of circulating
ledium to be filched from us by pri.
ate individuals, yet | think we may )
,cover it if the States will cooper
5e with u.s."
In another letter he sums up the
hole matter by saying, that the OBJ !
ct of these private banks of issue
S to enrich swindlers at the expense
the honest and industrious part of
e nation"