Tombstone prospector., 1896-09-11
AN ANSWER.
What the N Money of the People
 Should Be.


 MR. EDIToR My friend, Sydney R. Delong of Dcs Csbezss, writes me to this effect: 'ln your article published in the PRosPEcTyR of August 2Stb, you make A great error, thus-if you wanted to staIt a national bank yon would have to buy Sl00. 900 in bonds, as the treasury does not stl, the m. and you would have te pay a premium of st least 4 per cent; cost $l0i. 900. Your interest on bends would be 5000 Q year and ou would get from | @ treasury S90,OC0 in national bank notes, which, if lent at s per cent, would give s7 POO a year, making $l0,- 200 interest per year, and il you lent the slO4 600 at s per cent. without bank charter you would get $s,320 yearly interest, so the gain of the bank is not so great as you make our, and many national banks go out of busi- ness because it does not pay, and banks make most of their profits sell ing exchange, but their profits are never as great as people suppose"
 The premises are entirely wrong let. l did not have any reference to banks started now. 2ud. The treas ury did cell these bonds, or rather issued them in exchange, dollar for dollar for the deprecisted grsenback, though the gr-enbacks were bought up by the usurers at half their face or less, and whether it was the same mau who bought the greenbscks and with them procured the bonds, and then started the bank, or these transactions were done by several men the princi- pal is the same and the result to the treasury and to the people is the same; that is, the treasury received $50 in value for $lOO of these bonds; and on all Of these which are outstanding has paid S52O, and the gain to the banker by the loss of national bank notes amounts to Sl5 in thirty years.
 And this suggests another train of thought that is: l held it to be truism, susiainsble as well by sound reason ss by the history and experi- snce of msnkind, tha, nation of free men, capable o. sustaining freenlan's government, never should and need tO issuer bonds, CT borrow money in peace or in war, and whenever it does co under any circumstances, il thereby plsnts and fosters the germs of the ultimate slavery of i:s people.
 ls'. Becsuse true government Of tbe people is worth preserying even at any sacrifice Of wealth and men. And it is the duty of all it's mem bers to give up all tba, they have, and all that they are when necessary, in its defense; hence comes the power of the government 10 cal on all ot its citizens to march out and put their breasts agsiost the bullets and bayo- nets Of the enemy, with the alterna- tive of being forced to do 90, and shot ga traitors for desertion and it the came government cannot, or will not, command the men of wealth, whether this wealth consists of gold, silver, jewels or horses, to surrender these for the ceantry's defense, fer payment ir the same kind of money, or promise, as the soldier or sailor is paid with. then it is not a true government os the people it is a government that discriminstes in f-ysr oi wealth aad against the blood of It's defenders and the tears of their wives and children.
 2nd. Because a government Of the people, fit to exist as such, ooes not need either gold or silver in peace or in war; such a government can pro- cure everything that is pecesssry with it's own money, made by itself legal tender for all demands public and pri.