Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1895-02-15
KANSAS Ae1rAroR: aARNErT, KANSAS, FED. Is, 1896.

public welfare were ever subjected to
more thorough and intelligent in
vestigation than these very questions,
both in this country and in England,
from 1910 to 1860; and the policy of en-
trusting the creation and regulation
of a paper currency to banks, or in
any way to the control of private in
terests, has been pronounced against,
and abandoned, by every enlightened
nation on the earth. 1t would be a
disgrace for this country now to re-
turn to it. No other enlightened coun-
try would even entertain, for a
moment, such proposition.
1.-THE business of banking and the
duty of providing people with money
are functions so separate and distinct
that they can not be blended together
without doing mischief. For fifty years
this has been the almost undisputcd
verdict of the enlightened world, and
has been concurred in by all the fore
most writer's on the subject, as shown
in various parliamentary reports and
elsewhere; and especially is this true
as to a multiplicity of banks.
1.-THE world has never devised any
plan of automatic regulation of money
supply, except through the production
of the precious metals; and, from the
very nature of money and its relation
to prices, automatic adjustment OF
paper money to the wants of business
is impossible.
1.-THE bill now before congress,
should it become law, will prevent, for
this generation, at least, return tc
the only tried and approved method OF
automatic regulation of money; that
is, through the production and coin.
age of gold and silver
"a loud clamor is raised, whenever
the question of restoring the free coin
age Of silver comes up, against giving
a profit to the miner. While it can be
easily shown that under free coinage
there can be no difference between the
value of bullion and the coin made
from it, and that consequently there
can be no direct profit to the miner, OF
or profit of any kind not shared in by
the general public through the influ'
ence on prices and business of an am
pie supply of primary money, both the
measure proposed by the secretary OF
the treasury and the Baltimore plan
give forever profit to issuers OF
paper, as often as it is loaned
out. Both plans virtually make
banks paper minis with the
right to coin money out of paper, and
to have all they can make out of it,
without cost of production and with
out limit as to amount.
'It is admitted that four fifths o
the gold of the world is now gathered
into few great treasury boards, ane
controlled by few hundred men at
most. With this control over gold,
give to banks entire control over the
paper currency, on gold basis, as is
now proposed, and what safety is there
for the worlds industries or for the
worlds business?
"Can a people be enslaved SO easily
or so certainly III any other way? No
poverty and servitude for the great
mass of the people are the necessary
consequences of this system of money
1--WE therefore earnestly recommend
that before it is too late TO resist thi.
new attempt to subjugate them alb
solutely to the money power, the peo-
pie everywhere hold meetings, and, by
resolutions and petitions, protest te
their representatives and senators
against the passage of the proposed
bill, or of any measure that puts in the
hands of banking associations the alb
solute control of the money of the peo-
pie. A. j. WARNER, President.
Washington, D. C.