People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-05-19
He ElOOred the Old Man.
Pa. what is a national hank9

Pa. what is a national bank?
1t is place where people go to bor-
row money when they need any, and
to leave money when they have more
than they need.
Is that where you borrowed the one
hundred dollars you said you must
have last week?
Yes, my son.
What did you do with it?
| paid forty dollars taxes and the
rest was interest on borrowed money.
Where did the bank get the money
to loan to you?
1t borrowed it from the govern
ment.
| thought the banks were making
money fast. Pa.
So they are, my son.
How can they make any money
lending money that they have to Dor
row?
They borrow from the government.
1t don't charge them any interest.
They then lend it to me at s per cent.
in advance.
Why do YOU pay the bank s per
cent. for money you can get Of the
government for nothing?
The government won't loan to me
for nothing, or any price.
Yet it lends money to the banks for
nothing?
Yes, my son.
What is the government, Pa?
The government is the people.
Then the people Tor government
lend money to the banks for nothing
to lend again TO the people for s pei
cent, does it?
,, Yes, my son, that's about it.
Why is this so, Pa, are bankers any
better than anybody else? | never
saw them doing any work.
No, they don't work, but | suppose
it is all right. The indianapolis pa
pers tell US that the national bank
system is the best we ever had.
Why won't the government loan
you money, Pa?
l can't give the kind of security it
wants.
Amt land good security, Pa?
No, it requires bonds for security.
What is bond, Pa?
1t is an evidence of debt that the
bankers and bOndhOlders hold against
the government.
Do bonds draw interest, Pa?
Yes, and are not taxable.
Aren't they property?
Yes, my son, and very valuable
property.
l thought you said every dollars
worth of your property was taxed.
Yes, it is, but the bOndholders
came nobly forward and loaned their
money to the government to carry on
the war, so, to repay them for such
generosity, their bonds are not taxed.
But didn't you fight all through the
war, Pa?
Yes, and risked my life in many a
battle.
Then why don't they exempt yUIr
property from taxation? You went
nObly forward and riSked your life?
All, my son, human lives don't
amount to anything in comparison
with money.
When were they issued, Pa?
Nearly all the bonds now Outstand-
Ing were issued in 1866, 1867 and 1868.
l thought you said the bonds were
issued during the war, Pa?
So they were, my son.
How can that be when they were
not issued until after the war closed,
and the soldiers paid off and sent
home?
The public speakers and political
papers tell US so anyway, and anybody
who disputes what they say is a dem
agogue.
When the bankers borrow a dollar
of the government how many dollars
in bonds do they give as security?
They give one dollar.
Pa, wouldn't ten dollars worth of
land be as good security for one dollar
as one dollar in bonds?
No, my son, they say not.
What makes the bonds good?
Why, the real estate and'the other
property of the country, to be sure.
Why then won't the government
lend you money for nothing and take
your farm for security?
Because, my son, it is against the
law.
Who makes the laws, Pa?
Congress, MY son.
Why does Congress give bankers,
who don't work any. and who never
''tit" the rebels any, money for moth
ing, and then exempt them from tax
alton? You fought in the war and
now you work hard every day and pay
taxes too.
suppose it is all right, my son,
though don't know just why.
Don't you think the laws are about
all made in favor of the rich folks,
Pa?
1t does look that way.
Who is it that makes the laws?
Our representatives in congress.
| DOn't Won mean the hankpr's rpnre-