The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-12-13
THE IDEAL SYSTEM.

Give Us Full Legal Tender Paper Money
and Governmental Banks.
IT our Wall street government felt
secure of its hold, it's favorite fna ,cial
policy would be to fund the silver Ger.
tifcates and the legal tenders issued
under the Sherman law and the green.
backs, in all about $500. 100000. into
gold bonds and destroy the currency.
Then sell at auction the silver coins
and bullion in the sub-treasuries, which
the currency represents, for gold. This
would saddle an additional pu bile debt
on the nation to that amount, drawing
3 or SO per cent interest. The treas
ury gold would be at the call of the
banks. The national banks would then
have full swing and would be the sole
issuers of all the money in circulation
except about $150.000,000 silver and
other subsidiary coins. The banks then
could issue just as much currency as
would answer their purpose in drawing
interest from the public. They would
exercise despotic power over the ma
ton not surpassed by that of the car
of Russia.
The policy of the people who are
alive to this threatened usurpation Of
the functions of government by the
money power, would issue, in place of
bonds bearing interest that could only
be held by the wealthy class, legal
tender greenbacks without that Eek
ception" clause which has ever been
the blemish of the present issue-to
take the place of the currency at pres
ent in circulation, and have but one
kind of paper money. and that legal
tender for all debts, public and private,
and for all taxes and revenues of the
government.
This truly American money circul-
ated through the machinery of govern
ment banks to take the place of the
present skin 'em banks known as ma
tional banks" which are mere private
banks, with pretense of government
would release the great
wealth producing classes from the
tyranny Of the present usury system of
banking, and secure depositors from
any possibility of loss by thieving bank
officials who under present banking
conditions, speculate and gamble with
depositors' money.
The great body of the people, those
engaged in honest business and indus
trial pursuits, would then be protected
from the gambling, specializing class
who at present have the money of the
nation at their call, through the great
banks established at the large "busi-
ness centers." The stock and produce
gambling which is carried on in cham
hnr.C Of Y,rn111oo anH at bnp
Exchanges would be eliminated from
the honest business Of the country and
be driven to conduct their nefarious
traffic through private banks and brok-
ers They would he confined, as other
gambling esta blishments are, to their
own resources.
AS the finances of the nation are at
present managed through system of
corporation banks, the gambling asso-
Citations calling themselves boards Of
trade, produce exchanges, ETC., are
given free access to the entire circulate
ing medium and the bank credit of the
country, and are the most formidable
competitors of honest business, for the
use of money which should be protect
ed from interference by spectators.
Private banks, such as our national
banks, state banks, brokers, ETC., with
the swarms of spectators and gamblers
which hover about them, are parasites,
leeches and vampires, fastened on hon.
est wealth-producing business, con-
stantly drawing the blood from it's
veins. Honest business and honest peo-
pie need nothing else SO badly as re-
lease from these parasites. The people
must strike for such an independent
system of finance under government
control and free from the horde of
usurers, gamblers and Spectators
which are devouring their substance
Rising Sun md } Midland Journal