The Caucasian. (Clinton, N.C.) 188?-1913, 1895-07-11
JEFFERSONIAN DEMOCRACY.

Nothing so amuses the Cup to
Date" Populist as to hear some old
moss back Democrat, bound hand
and foot by prejudice to old ties,
talk about standing by the princi-
Piles of pure Jeffersonian Democra-
cv." Just to let any such old char
acter know where he is at, we wish
to refer to him the policy of Cleve-
land, Carlisle and company. Then
we desire that he will read about the
actions of the Democrats in Ken
lucky, New York and Ohio during the
last two weeks. Lastly let him read a
few samples of pure Jeffersonian
Democracy presented below:
JEFFERSON ON MONEY.
"And so the nation may continue to
issue it's bills as far as its wants require
and the limit of its circulation will adj
nit. Those limits are understood to
extend with us at present to 5000, OOO,-
600, greater sum than would be nee
essary for any war. But this, the only
resource which the Government could
command with certainty, the States
have unfortunately fooled away, nay,
corruptly alienated to swindlers and
shavers, under the cover of private
banks. Say, too, as an additional evil,
that the disposable funds of individu-
ais to this great amount have thus been
withdrawn from improvement and use
full enterprise, and employed in the
useless, usurious, and demoralizing
practices of bank directors and their
accomplices. In the war of 1775, our
State availed itself of this fund by is
suing paper money bOttOmed on a
specific tax for its redemption, and to
insure it's credit, bearing an interest
of 90. Within very short time not
a bill Of this emission was to be found
in circulation. 1t was locked up in the
chests of executors, guardians, widows
| farmers, &C. We then issued bills
bottomed on aredeeming tax, but bear
ing no interest. They were readily
received, and never deprecated 8
single farthing-Opinion of Thomas
jefferson in 1913, his letters to John
w. Epps, June "a, 1913; Jefferson's
Works, volume 6, pages l39, 40.
"The question will be asked, ant
ought to be looked at, what is to be thu
course if loans cannot be obtained
There is but one-'Carthago defend,
est Bank paper must be suppressed
and the circulating medium must b.
restored to the nation to whom it be
longs. 1t is the only fund on which
they can rely for loans; it is the onl.
recourse which can never fail them
and it is an abundant one for ever,
necessary purpose. Treasury bills
bottomed on taxes, bearing or no
bearing interest, as may be foun'
necessary, thrown into circulation will
take the place of so much gold and silver
which last, when crowded, will find al
efflux into other countries, and thu
keep the Quantum of medium at it
salutary level. Let the banks continue
if they please, but let them discoun
for cash alone or for treasury notes.
Letter, September II, 1913, vol. 6, pag
1885,"
JEFFERSON ON BANKS.
81 have ever opposed money Of banks
not of those discounting for cash, bu
of those foisting their own paper il
circulation, and thus banishing GU
cash. My zeal against those institu
, tiOns was so warm and open at tn
establishment of the Bank of the Uni
ted States that | was derided as
: maniac by the tribe of bank monger
, who were seeking to fitch from tn
public, thus swindling on barren gain
e But the errors of that day canne
. be recalled. The evils they have en-
!, gendered are now upon us, and how W
t are to get out of them. Shall we bull
{ an altar to the old paper money of til
Revolution, which ruined individual
! but saved the Republic, and burn Q
J. that all the bank charters, present an
future, and their notes with them? F.
n these are to ruin both Republic and il
I, dividuals.-Letter of Thomas JeffersC
y to President Adams, January "A, lsl
; In a letter to John Taylor, Nj
+ %, 1916, he said: (Jefferson's Work
1t pages COS, 60s, vol. g
IS "The system of banking we ha
IS both equally and ever reprObated.
y contemplate it as blot left in all o
a constitutions, which if not covered W
+ end in their destruction, which is {
" ready hit by the gamblers in &C
ruption, and is sweeping away in
re progress the fortunes and morals of o
ge citizens. Funding, consider limit
Y rightfully to redemption of the de
!! u within the lives of majority Of t
IT generation contracting it; every gem
tv alton coming equally by the laws Of
II. Creator of the world to the free poss
IN sion of the earth he made for their 81
ne sistence, unincumbered by their pre-
le- cessors. And sincerely believe, wi
on you, that banking institutions ,
f. :. more dangerous than standing armi
i =. and that the principle of spendi
Of money to be paid by posterity un.
ID the name of funding is but swindli
IN futurity on large scale"