Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-05-16


country are done with cash and over
"a per cent. is done with checks, drafts
or some form Of commercial credit.
This portion Of the country's bust
ness is compelled to almost entirely
pass through the banks and Is largely
subject to their control, influence and
supervision.
Twelve years ago, at a time when
there was more prosperity In the
country than now, only 8 per cent. Of
the business was done with cash, while
81 per cent. Of the transactions were
by means of commercial credit
This goes TO prove that an increased
circulation of money, which would
stimulate business, increase the volume
of commercial transactions and make
good times, would at the same time in
crease the per cent Of business done
by means of commercial credit.
Under our present banking system
all such transactions pay tax to this
growing octopus which threatens the
very existence of our government.
Business methods are now such that
banks are an absolute necessity and
the business world, without them,
would be completely paralyzed, ordi-
nary trade would suspend and the
wheels Of industry would be compelled
to cease.
That, thus closely interviewer with
our business interests, is the banking
influence there is no use to dispute, but
there is reason why we should seek a
remedy from the evils Of the present
crude and inefficient system for con-
Quoting such a large per cent of our
commercial transactions by which the
productive industries and business in
terests of the entire nation are made
subservient to one class and compelled
to pay it tribute
The mistaken idea that the banks
have their own money and can do as
they please with 1t is one Of the errors
that should be eradicated from the
public mind.
The money is furnished by depositors
who having no other banking facili-
ties are compelled to patronize institu-
tions concerning which there is gen.
eral feeling of distrust.
AS further proof that the actual
amount of money in circulation or in
use does not control the amount of
business transacted through the banks
is the fact that the deposits in banks
in the United States amount to at least
twice the amount of money, including
gold, silver and paper.
1t proves that the secret of banking
lies in the fact that it only takes
small per cent. of the money on deposit
to settle daily balances and the re-
mainder is loaned and goes into the
channels of trade to be redeposited and
reloaned, over and over again until the
business of the entire country is to-day
dependent on this method, less than 6
per cent being transacted with cash.
1t is time that the people should in
quire whether or not it is safe to longer
permit such powerful influence over
every affair with which all the people
are so closely connected to be welded
by an irresponsible body of mon whose
only incentive is that of greed and
whose Hottest idea of patriotism is the
ACKNOWLEDGMENT of their own interests.
Under present methods of private
control, millions of capital are con-
cealed from assessment and those who
are drawing the largest amount of
money from productive industry by
means of interest escape almost COM
pletely the burdens of taxation.
While It would be an infringement
of personal liberty which we do not
advocate to forbid the right to es-
tablish bank to be conducted by a
private individual, yet there should be
a law by which the business of the
bank could be made to bear its just
portion of public expenses and per-
hitting the assessor to count its as
sets with the same facility that he can
count the farmers cattle and sheep.
But the most important point is that
the government should provide a safe
hankin. system for the people, afford
NJ relief, not only from the distrust
'f private bankers, which causes mil
81 dollars to be kept ont OF the
s', oil ira lie, but that the iueeu-
tive to corrupt influences in govern
mental affairs shall be curbed.
The bankers know the effectiveness
Of thorough organization and have to-
day the most powerful association on
earth Their purposes and aims are so
at variance with every other interest
that close communion is readily
maintained, while public confidence is
easily inspired by a pretended pro-
found regard for business interests
This power which thrives by draw
ing the life-b from others is every
year maxim its influence more widely
felt and its demands are more defiantly
expressed in each succeeding period Of
the great conspiracy.
The secret OF this power lies in the
ability to draw from the productive
energies of the nation interest on the
money as we'll as on the credit Of
others, and il government banks were