The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-09-06
THE BANK QUESTION.
MAKE THEM RESPONSIBLE OR
CLOSE THEM UP.
Nearly all the Business of the Country Is
Done on a Credit system-Make Every
Bank Give Good Security to all OF its
Deposltors.

The increased interest manifested
By the public on the bank question is
truly encouraging ansl is proof that
thinking people are awakening to
living issues.
The power OF bank corporations for
acquiring wealth, and the methods
employed, has been overlooked and
ignored, while other questions of far
less significance have been made SUBJ
jects OF endless contest.
Under present business methods
over ninety-four per cent of the CON-
mercial transactions OF the country
is done with checks, drafts, or some
form OF bank credit while less than
six per cent is done with cash.
All these transactions are to a GER
tain extent Influenced by the bank
power and in every case contribute
to its strength.
The secrets Of banking lie in the
fact that depositors furnish the capi-
for conducting the business while the
profits go to the bank.
People have generally labored un-
der the mistaken idea that the bank
afforded security and was a safe place
OF deposit.
Increased knowledge on this point
and attention to the evils of our pres
ent insecure method is the strongest
evidence that the public is taking a
lively interest on this issue.
Scarcely an objection is offered to
the demand for government banks of
deposit, while the demand for banks
transacting general loan and ex-
change business grows greater and
greater as the subject is considered
and made a matter of discussion.
While the present system Is open
to criticism for many reasons, the
most attention is bcing given at pres
ent to the lack of security for de-
positors.
The fact that over $25. 900, 900 q
year is stolen from depositors by ire
sponsible bankers is enough to awaken
the most stupid and arouse the most
indolent.
The money thus stolen is invariably |
taken from the people who place 1t in |
the bank with feeling OF confidence |
and generally believing that they are
secure.
Under these conditions it is natural |
that the people should seek q remedy.
Perhaps the most easily applied !
and at once effective plan for reach |
ing this evil is the recent proposition
OF the Iowa Peoples party conven-
tion.
The fifth plank Of their platform
Is to the point 1t reads:
1--WE further demand that until
such time as q government system of
finance can be established that all
banking institutions, national, state,
and private, be required to give secu-
rity to depositors for all moneys re-
ceived for deposit"
This is clearly matter over which
the various state legislatures have
control
1t is clearly q matter over which
such control may with propriety be
extended.
The machinery of our courts are
very elaborate in providing for the
enforcement Of contracts and our
statute books are filed with law to
prevent impositions on the public.
The druggist must have his certifi-
cate to guarantee the public against
incompetency.
The doctor must have his diploma
aud furnish proof that the public will
not be imposed on by dishonest ig-
norance or ouackerv.
Even the plumber who soldiers q
leak in the water pipe that carries
the lake water into your kitchen or
bath room is required to be licensed
workman and give a guarantee OF his
ability.
1t is useless 70 enumerate.
Instances without number could be
named.
Why then should the bank be ex-
empt?
Is there any reason why they should
pretend to be secure places of deposit,
when they are not?
When they are secure let them {
prove 1t. II
Let them give security or quit busi- {
ness.
1t is time to stop this stealing of
millions.
The people are tired OF confidence
games.
Urge your legislature to act in this
matter. II
Drive the fakirs out of every busi-
ness. II
Make the banking business respect-
able by'making it responsible. Chi
cago Express. Ii
a gainst the Law to Redeem Grssnb~ck.
The law has declared that no more
greenbacks shall be retired or re-
deemed. That they shall remain In
ss debt payers. That they I
are In fact perpetual money. And |
yet, In direct violation of law, the d