Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-03-08
Financial Absurdit, -.

cial system and the absolute absence
of any pretense at security offered by
the banking institutions i startling
when even an attempt is made 10
fathom it, Just think of il. The de-
post in banks OF the United States
according TO figures given ut the bank
ers' club last Saturday night is $;.JGo.-
100000. Doesn't that indicate prosper
ity: An average of over fifty dollars
each for every man, woman and child
in the United States deposited in the
banks.
Prosperity must hover around :, peO-
pie 50 blessed with money. Every
man able To draw his check for 1T least
fifty dollars cash on deposit in the
bank. Is it any wonder that our coun-
try has the admiration of the Whole
world? Is it surprising that our pros
perity should be the envy Of the down
trOdden people of all nations: As the
report is published with pride and dis
played 10 Il tnGughtlcSS world its eff
feet on the mind OF each single unfor-
tunate individual is that he. of ali the
world. is the one that is by fate de-
creed Il failure.
TO the thinking mind can anything
be more Infamous than Il onSiGeration
of the actual facts: Talk about So
500.0Oo.0o0 on deposit with the banks.
1t is 90 per cent of it Il fictitious pre-
tense, real only so far a. it draws in
tereSt and supports Il banking ariStOc-
racy in pomp and splcndor. Even the
padded treasury statements which
include every dollar coined or printed.
regardless of losses by fire or ether
Wise, do not claim that there * half
that much money. Yet the tiglrrS prove
the facts To be just as stated.
How can it be. il will naturally be
asked Ivy many. that the deposits in
the banks can exceed the actual money
In the nation! Simplest thing in the
world when explained. but how few
people seek an explanation. Business
is everywhere conducted on credit
basis. Ninety-four per cent. II all
commercial transactions are represent
cd by checks and drafts. Money is
deposited. leaned out, redepoSlted and
every actual dollar in existence is rep
resented many times by the deposits
and loans. The condition is -tartiing.
in fact almost past comprehension. aud
would not be believed were it not for
statistics which prove it TO be true.
We're general statement To he at
tempted not five banks in the United
Z ,., api.i
tors have furnished the money for
them to use and it has been loaned ut
heavy rates of interest. This interest
has drawn steadily from productive
industry. but it has not created large
reserve funds of money. Ii has eye
ated more debt and increased the bank
ers' capacity for dra wing interest.
There is Il prevailing error in the
minds of the people. and il Is Il faiacy
that all should understand. II is be-
licvcd that the bankers have plenty of
money. that they have the money to
loan aEd live in splendor On the inter
est From childhood Up we have al
been taught 10 regard the bank as rep
rescnting great wealth.
Here is the mistake The bankers Of
the United States to-day if compelled
to depend OF their own capital loaned
at per cent per annum could not pay
rent and clerk hire for one wear. 1t is
the profit they make on deposits which
the people are foolish enough TO trust
with them that enables them to ride
in fine carriages with Inverted coach
.,iv q Il
royal banqucts and enjoy life ike
princes. while the poor dupeS who earn
every dollar that is created Lave barely
enough to live on. yet vote to continue
q system that for abSur1ity doubly
discounts any system of royalty ever
known on earth.
The banking system OF the United
States is not based on capital but on
cheek. 1t is conducted on the same
rule That has prevailed in all ages.
where one certain class collect trib-
ute from the balance of the people.
1t is not always Il born aristocracy.
In this case it is the result of organized
greed and the combination of Sllrewd
men who have devised schemes more
than the plan of the pirates cn the high
seas. yet more effective and more sure
OF results so long as the people submit
bindIy to the dictation of these i,ian-
cial magma Chicago Express
Where They Get the Money.
IT., Republicans spent Il biz SUM of
monv i'm their campaign in this State
last fall. Where did they get it: IL
was charged that Pett'grew said he had
$4,000 and could get 100000 more if
he needed it, Where did he get Ill?
Judge Howe told the writer two weeks
before election that he had been in
formed thar the Democrats had been
promised 1000 of this Doodle Where
did the money come from! The Repu5-
lican State headquarters were at Red
fall tl,a homo nf St1tn Vrno cI,raf. 'rck-