The advocate., 1895-03-13

UOCbrlu66 Oh bud buDJoC1 VA U@AAS oA@
banking that very many Of the states
that formed or revised their Constitu
tions within few years thereafter
forbade the establishment of such In
stitutions within their limits; and 9th
ers, though permitting banks Of dis
count and deposit, peremptorily in
hibited the issue Of bank paper till il
was forced upon them by the present
national bank law. For our system
imported from the mother country, has
proved its relationship by its corrup
tion of the morals of society by seduc'
ing mankind into Overtradlng and
speculation, by enabling the crafty
and cunning to live on the toi
of the masses, by issuing their credit
in lieu of actual money, and finally by
collapsing every ten or twenty years al
farthest, with all the Calling and pain
full consequences to its victims who
were inveigled into its tolls; till one
would suppose that people would take
warning and avoid therockS and shosl:
on which so many had been stranded
But instead of that, those interested in
such devices for spoil land gain, periodi
cally patch up the old contrivance and
present it anew to the public as "the
best banking system the world ever
knew" and a subsidized press re-
spends "Hallelujsh! amen" And the
public, who have measurably forgotten
the experience of the past, are grsdu
ally drawn into the net again; anC
once in, find it next to impossible to
withdraw, till, like fish, they are landed
high and dry where all hope Of relief
is at an end. The country is nov
going through one Of those periods Of
collapse with its fell consequences; ant
the fnanciers are already rehtting thl
old craft for sea service to fish TO
gudgeons. Therefore, the article re
ferred to is as appropriate now as WheI
it was written, and is as follows:
RADICALIsM.
John Taylor, OF Caroline, was one Of Vir
ginia's noblest sons. A purerhearted mar
never lived, and his mind was clear as hi
heart was pure Virginia loved him and hon
ored him, and will ever cherish his memory
II there be an Ohio democrat, who Is Ignorant
OF the honor due to his name, and OF the hlgt
rank which he held among the fathers o
American democracy, let me inform him tina
John Taylor was the bosom friend OF ThOmal
Jefferson, and that probably no man lived II
Jeffersons time, with whom he more cordially
or perfectly agreed in political sentiment.
About thirty years ago this great man anC
pure democrat entered into an elaborate in
Vestigatlon' Of the merits Tor rather demerlts
OF the paper money credit system, Amonl
the conclusions to which he was brought b!
that investigation, and which he published
to the world, we're these doctrines:
That the paper banking system OF this coun
try Is - system OF public plunder;"
That those who become the creditors of thu
public by the issue OF paper credit, "subsls
upon national labor"
That the paper contrivances sanctioned b!
law are "the siren notes Of wealth and cum
ming, designed to fascinate labor while IT
fruits are devoured'
That "papsr credit is insensible Of the leAs
degree Of fellow feeling for labor" and that IT
prosperity is adversely to the mass Of tn
people;
That "banking systems are indissolubly con
nected with every commercial and politica
question by an interest generally at enmit.
with the public good"
That 8 privileged paper money faction is
deadly foe to republlcsDlsm, lsboring only II