The Caucasian. (Clinton, N.C.) 188?-1913, 1893-07-06
.ortn>s.>r ns>nsa >as,s.,,,.

TAAuoEo, \. 4. Jan. p9 ,Sa9

Iho nunctuas baak failures
ihr"u shua; ihc ooun,ry fog the pas,
forty days mako IL isnps rasively
necessary tha, therv shnald h. an
"Hs'siaie aud radical change IA the
banking systcm. People Afc losing
confidence N th.so institutions as
they ars now conducted. The great
curse of the aEe--shv National hank.
ing sys'em should be- abolished. and
government hanks established in
/ their stead.
The property If this eoantry
Viii He At the s4erey of tho
money power "a long a. those in.
sfhutions are permitted to cAist. II
/ Is well kaown that the National
hanks will not accept land as a basis
OF security. and the unfair and un-
| just discrimination against that
which furnishes the basis OF all
wealth should not longer bee endured.
The people have seen the bhghtlng
effect OF the operation of th.s. per
nieious institutions, and they should
be wiped out of existence. A. long
az they continue in operation. aud
discrinate in their loans against real
estate, CHEESE banks control our
g"VeInme 1T today jus, So l,ug will
the iaboreIs and wealth producers
OF this country be kept with their
faces To the grindstonc This iniqui-
tous, vicious, pernicious aud dis.
criminatlve system must Ice eradi-
Gated root and branch before there
Will be any material prosperity and
real happiness among the masses of
! thls country.
We may boast of our vast resourc-
as, and the progress made in devel.
opIng them. hn' the tide of progress
and prosperity will turn backward
unless our monetary system is re-
modelled and read iusted to meet the
/
What constitutes the wealth of
nation' Land and men. IL is not
the substance on which the govern
ment places its stamp. That is but
the Instrument made 10y law Ia meas
are the value, just as 30 inches is by
law made yard. Money scrves as
a medium of exchange jast as cart
serves to convey products 10 market.
Money is the legal representative
Of wealth. The real wealth is the
capacity 10 produce something,
hence the wealth OF nation is land
and man.
Now, maintain, that as land is
the basis of all our wealth. progress
and prosperity, whenever il is dis
crinated against by the money lead
ers then progress and development
will be retarded. Therefore We will
change our present banking sys-
TEN, and make land the real basis of
our wealth and not L. S. bonds,
which they derive their security from
land.
Iet the government establish these
banks in all parts Of the country.
and loan money to land owners at
half the value of their land, at 2
per cent. interest per annum. II
these banks were established there
would be an immediate enhancement
of the value of real estate, and the
sun of prosperity would shine in all
,. parts OF this great country.
. The recent failures of our Nation
al banks have demonstrated the ut
ter inefficiency of the system. Gov
. ernment banks, with money issued
: to the people on land and its non
perishable products, il what we
need.
People are afraid to receive checks
dra wn on many of our banks, for
J the reason that they may fail before
the check can reach its destination
and be cashed. Are the people
afraid, OF unwilling to receive a
e postoflice order issued by Uncle Sam
I No. Then this forcibly proves the
ability of the government to issue its
own money. The people have faith
in the government, but they are fast
. losing il in our present banking sys-
/, TEN.
No money should be issued by any
corporation whatever, whether il be
private individuals or by states.
The government only should issue
money.
f What we need to-day * To return
/ TO the system AS advocated by JEFF
e ferson and Jackson-the latter oi
whom said:
"If Congress has the right under
the Constitution to issue paper mon
: ey, it was given them to he used by
; themselves, not TO be delegated tc
, individuals or corporations
Hear what Jefferson said:
j Il believe banking institution.
are more dangerous TO onr liberties
7 THAI standing armies. Already they
y have raised up money aristoerac,
that has set the government at de,
fiance. The issuing power should
be taken from the banks, and re
II stored to the government and the
people, to whom it belongs. Le'
= the banks exist. but let them bank
!, on coin or treasury notes"
a The tendency IN this country is to
concentrate the wealth in the hands
,e of the few. and unless this is changed