The Caucasian. (Clinton, N.C.) 188?-1913, 1894-06-14
EI Nh aspgRAIN.

the founder of their party stood near
/ " a century ago.
JEFFERSON on MONEY.
T The following are some Of the
manH decorations of Mr.. JEFF
ferson or the question Of mon
/ ey.
And 80 the nation may continue
1 - issue It's bills as far As il wants
require aud the limit Of its circula-
tI0n will admit Those limits un-
+ dcrstood to extend with us at present
4 to $500, 900, 600, IA greater sum than
would be necessary for any war.
I But this, the only resource which
the government could command with
F! certainty, the states have unfortun-
ttcly fooled awas, nay, CoTrupuy
lnenated to swindlcrs aud shav,rs.
lnder the cover of private banks.
Say, too, as an additional evil, that
/ the dispOsahlc funds Of individuals
- TINS great amount have thus been
Withdrawn from improvement and
useful enterprise, and employed IN
he useless, usuriuus, and demoraliz-
! lng practices Of bank directors and
their accomplces. In the war of
lH55 our state ayailcd itself of this
fund by issuing paper money bot
toned on specific tax for its re-
demptlOn, and TO insure its credit,
bearing an interest of } per cent.
Within a very short time not bill
Of this emission was to be found in
circulation. 1t was locked up in
the chests of executors, guardians,
widows, farmers, etc. We then is
sued bills bOttomed on redeeming
tax, but bearing no interest. These
were readily received, and never de-
preclated single farthing." Opin-
ions of Thomas jefferson in 1913,
his letters to John ". Epps, June 24,
1913; Jefferson's Works, volume 6,
pages 1879, 40.
The question will be asked, and
ought to be looked at, what is to b,
he course if loans cannot be obtain.
cd : There is but n-'Carthast
delendaest.' Bank paper must b,
suppressed, and the circulating me
dunn must be restored to the nation
to whom it belongs, 1t is the onl,
fund on which they can rely for
loans; it is the only recourse which
can never fail them, and it is al
abundant one for every necessar,
) purpose. Treasury bills, bottome,
on taxes, us may be found necessary
thrown into circulation will take tn
place of so much gold and silver
[ which last, when crowded, will tin'
an etfiux into other countries, an,
5 thus keep the quantum of mediur
O at its salutary level. Let the bank
d continue, if they please, but let ther
discount for cash alone or for 1rea,
: ury notes" Letter Sept. II, 1SI;
Z volume 6, page 1874.
JEFFERSON ON BANKS.
i 81 have ever opposed money {
}, banks; not of those discOunting f.
cash, but of those foisting their ow
!, paper in circulation, aud thus ban
lshing our cash. My zeal againl
those Institutions was SO warm an
open at the establishment of I'll
: bank of the United States that WI
: derided as maniac by the tribe (
: bank mOngers who were seeking
,r lilch from the public, thus swindliu
on barren grains.
!. Letter of Thomas Jefferson to Pr
, Sident Adams, Jan. "A. 1914.
II In letter to John Taylor, Ma
%, 1916, he said: Jefferson
1t Works, volume s, pages GO5-G0GD
Il Their predecessors. And | sil
cerely believe, with you, that ban
r Ing institutions are more dangero
e than standing armies, and that Il
OF principle of spending money to
paid by pOsterity under the name
funding but swindIing futurity on
large scale"
Mr.. Jefferson further said:
"Let US found government whe
u, there shall be no extremely rich III
"d and no abjectly poor ones. Let
~ found government upon the int
es ~ ligence of the people and the equit
On ble distribution of property. Let
a;r make laws where there shall be
On governmental partnership with
W. vored classes. Let US protect all,
; ;s life, liberty and property, and th
III II say to every American citizen, vi
'th ~ the gifts that God has given yc
~, w. your brain and Drawn and eners
ID work out your own fortunes unde
a;r W just government and an equal juI
- prudence.
na AS far back as December ID, 8
he wrote to Albert Gallatin: 81
= ferson's Works, volume 4, pages
ANY, 52O.)
n n "rhis institution (national bal
is one of the most deadly hostilit
existing against the principles .
form of our constitution.
B..
III A FETCHING DEFINITION.
ge' We find the following in the Wa
"a "a ington Post:
pbt Representative McKeighan
r terday treated the House to a b
list. but exceedingly fetching defnir
mel IF what constitutes a Populist
iist What evolutionary process deyelo
Mnnunnn In ranluinn 70