The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-11-27
pillar of the churches! And chairman
of the Republican county commit
teev'
ANOTHER CUNNING FALLACY.
"LET THE GOVERNMENT GO OUT OF
THE BANKING BUSINESS

LET THE GOVERNMENT GO OUT OF
THE BANKING BUSINESS"
The United States and its people
gain not one thing by its remaining in
the banking business, but the finan-
cial security of the country, and the
business stability of the people is con-
stantly endangered by it. Let the
government throw the responsibility
Of maintaining the financial equilib-
rum upon the banks where it be-
longs, so that they will have to stop
"playing horse" with Uncle SAM
Alexandria Post-News.
This is all very silly. The govern
mert not IN thessbanking business"
This Is easily proved. Where will the
citizen go to get the government to
discount his note, or receive his money
on deposit? There is nothing of the
kind.
If the government was to really ego
out Of the banking business" it would
stop lending out it's notes. made Of it's
own paper. printed on its own presses,
and signed by its own officers, to lot
of so-called national bankers" at one
per cent pr dnnun,; while the bankers
turn arou nd and loan out that same
government paper money, to the tax
payers, at seven, eight. ten or twelve
per cent per annum; or. Indirectly,
through individuals, at twenty, fifty,
one hundred per cent per annum. But
that is the very kind of "going Gu t Of
the banking business" the Post News
does not want. On the contracy, it
wants to abolish the greenbacks- the
4 Peoples, money-which the people
have the usesof without any tax levied
upon them by bankers; and issue in
stead hundreds of millions Of dollars
of government bonds, and tax the peo-
Pile to pay interest on those bonds, and
then let the bankers issue government
paper on these bond, and tax the peo-
pie from seven to one hundred per
cent per ann um, for simply standing
between the government and it's own
paper money.
But il it can be called "going into
the banking business" for the govern
ment of the United States to create
and issue money Of paper, (and the Su-
preme Court has declared it's full
power to do SOY, why Is it not "going
into the banking business for the
government to create money out of
gold, silver, copper, bronze or nickel?
How can the material alter the prin-
c!ple? And if it Is right to turn oyer
the making or issue Of paper money to
the banks, why would it not be right
to turn over to them the coinage of
gold, silver, copper, etc.?
II Is true no nation on earth has
ever conferred this sovereign function
on individuals or corporations-but
that makes no difference. No nation
in the world ever, (prior to our own
days., demonetiZed silver. The money
grabbers need no presidents. Law,
justice, everything disappear before
the necessities Of their horrible app
tite for the property of the people.
And these damnable little devices.
called o!d-party newspa pc rs, -coerced
by some petty mortgage to 20 "a usu-
rer,-will defend Plutocracy to any ex-
tent it may choose to go:-even to the
establishment of mOnarchv.-the
natural and necessary end of all this
kind Of business.
Oh good people!-Inform yourselves!
And behold the abyss towards which
you are being led-with the flames
and tortures Of he'll at the bottom of
it, for you and yours forever.