The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-05-15
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THE GREAT DEMOCRAT.
The Founder OF the Democrats
Party, and Author of the Decla-
ration Of Independence.
Thomas Jefferson, What He Had
to Say About the Money-Power.
If YOU HAVE A DEMOCRATIC
NEIGHBOR LET HIM READ
THIS.

This.
Another means Of silently lessen.
ing the inequality of poverty is to ex-
empt all from taxation below GER
tain point, and to tax the higher por-
tions of property in geometrical pro-
gression as they rise. Jefferson.
Whenever there are in any country
uncultivated lands and unemployed
poor, 1T is clear that the laws Of prop
erty have been so far extended as to
violate natural right. The earth is
given as a common stock for man to
labor on; if fer the encouragement of
industry we allow it to be appropri-
ated. we must take care that other
employment be furnished to those
excluded from the appropriation. II
| we do not, the fundamental right to
labor on the earth returns to the un-
employed. jefferson.
| "This institution (national bank) is
one OF the most deadly hostilities
existing against the principles and
form of 'our constitution.
Ought we then to give further growth
to an institution SO powerful, so hos
tile? 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 it's authori-
ties. The first measure would be to
reduce them to an equal footing with
other banks, as to the favors. of the
government. Letter to Albert Gal
latin, December Is, 1903. Jefferson's
Works, volume 4, pages 515-52O.
"The <banks have discontinued
themselves. We are now without any
medium, and necessity as we'll As pa
triotism and confidence will make US
all eager to receive treasury notes II
founded on specie taxes. Congress
may now borrow Of the public, and
without interest, all the money they
may want. Providence seems indeed,
by special dispensation, to have put
down for us without a struggle, that
very paper enemy which the interest
of our citizens long since required our
selves to put down at whatever risk.
nant with futurity and IL mot st once
by Congress I know not onslMnat sl1cal
our bark is next to be stranded. -
Jefferson's Works volume 6, page 382
letter to Thomas Cooper, September
10, 1914.
The question will be asked, and
ought to be looked at, what is to be
the scOurSe il loans cannot be OBJ
tained? There is but one-'Carthago
. delenda est Bank paper must be
suppressed, and the circulating me-
dium must be restored to the nation,
to whom it belongs. 1t is the only
fund on which they can rely for loans;
it is the only recourse which can
never fail them, and it is an abundant
, one for every necessary purpose.
. Treasury bills bottomed on taxes,
bearing 'or not bearing interest, as
|, may be found necessary, thrown into
circulation will take the place OF SO
, much gold and silver, which last,
; when crowded, will find an influx in
to other countries, and thus keep up
the Quantum of medium at it's salu-
tary level. Let the banks continue, to
discount. il they please, but let them
discount for cash alone or for treasury
? notes "-Septembsr II, 1913, Vol. 6,
, page 1874.
banks: not Of those discOunting for
cash, but of those foisting their own
paper in circulation. and thus Danish
ing our cash. My zeal against those
institutions was so warm and open at
the establishment OF the bank Of the
United States that was derided as a
maniac by the tribe of bank mongers
who were seeking to fitch from the
public, thus swindling on barren
grains. But the errors of that day
cannot he recalled. The evils they
engendered are now upon us, and how
: are we to get out Of them? Shall we
. !, build an altar to the old paper money
of the revolution, which ruined indi.
! burn on that all of the bank charters,
: present and future, and their notes
: with them? For these are to ruin
y both republic and individuals. Let
!. ter of Thomas Jefferson to President
Adams, January "a, 1914.
= 1.-THE system Of banking we have
both equally and ever reprobated.
contemplate it as blot left in all ouI
: constitutions. which il not severed
: will end in their destruction, which is
: already hit by the gamblers in corpo
1 rations, and is sweeping away in its
= - progress the fortunes and morals Of
: limited rightfully to redemption o1
: the debt within the lives OF majority
:, of the generation contracting 1t
: every generation coming equally BY
: the laws of the Creator Of the worlC
: to the free possession of the earth he
: made for their subsistence, unencum
bered by the predecessors. And sin
J, cerely believe, with you, that banking
J institutions are more dangerous thar
standing armies and that the prin
ciple of spending money to be paid BY
osterity under the name of funding
is but swindling futurity on a large
scale. Letter to Taylor, May 2s, 1916
e Jefrerson's Works, volume 9, pages
G 6O5-6nR