The herald., 1896-11-18
S$$4$SSS$$$S$
THE PUBLIC PULSE !;
*aeAA&&&@AAAAA4&A&A@&A4.
LOCALIZED ROBBERY

tSeiiAitS tilt STttllDdckS anu ISSUING
honal bank notes in their stead, but you
uid not attempt to go into details or show
me me true inwardness of such an action or
on the people in general and the prosper
lily OF the country.
This would be the most serious mistake
that possibly could be made and would
cause the immediate downfall OF the Re.
puDllcan party and distress that was never
pef9re p ne,,, ,equaled IN this fair land of ours
of s51o. .si7,2s6 of notes that are now ii cir cir
cu,ation and on hand in the treasury and
unless bonds were Immediately issued on
,"n ,Mn,cn 10 base more bank currency it would
,eave US absolutely nothing in It's place
IL 1t Would simply mean the destruction OF
ohe-third Of the money in the country and
tas,d me immediate decrease Of all property
portion aud famine would be throughout
thLe the !and because people would not have
al sns I'm money to buy with It would mean
classes and real anarchy would reign, for
people would be driven to desperation.
nrosner se Oily hS ones ones that would apparently
,bankers. bond holders and miliIonairae
out ~. their prosperity would be fleeing ana
theS ny @ woulu go down into destruction with
.dne Repubitcan party cannot for an in
slant anord to entertain such a proposition.
an" an "a an !. , good Republicans and members of
a dastradly move being made IT is not
70 the interest of the gold men any more
sfald sha y b is to the sivertes. and their eyes
too late, and all forces should ioin in n
united protest. ''"o"'' JUN Al Il
Inc rational barks say that doing awav
all dangers of run on the treasury and
on the GOLD reserve. but such would nor he
,i,a .ne ease: for the government would. be
equally as much pledged to hold I'M the
value of the bank notes as If is Of fhe
greenbarks. and anyone with euual req con
Tha T%uid ASK for gold in exchange for them.
Whn presented with gold. if it had it on
i maio ann II not, pay out silver. and If this
was done IT would avoid all runs on The
reserve and do much to settle the osI silver ,sr
question and hold both metals AT mar
This Tn is the course that is pursued in
ury under, President Cleveland, averted
run IN the same manner
Durlng the past year President Cleveland
was forced 10 issue $3.50, O00. 600 worth of
t.9 ponds S to- TO- keep up the gold reserve, but only
Sao Saa; so1 22s OF this was needed to make up the
was caused solely by the endless chain"
OF presenting greenbacks and drawing out
, gold, engineered by the. bankers of this
other issue of bonds on which they could
their banks. - o'''
:, TO show their reasons for wanting more
bonds issued, it is only necessary 10 give
the Following example of how a nationa!
bank is formed and how the peope are
numpugged for their benefit. and why 1t is
necessary Tor the government to get such
enormous revenues to meet its obligations
rive men associate themselves together
LOT LOT the purpose of forming national bank,
ana sI 6tween them they possess capital of
@ @slo, ooS. Their first move is to purchase
siW,oo worth of government bonds. for
t;nn Wnich ~ ahey e have TO pay at the present
much more. than their face value. They
then take these bonds and place them on
deposit with the government as collateral.
and the government gives them back 500
O0O worth of bank notes. the s17, 900 differ
ence being held by the government to the
banks credit as security for the notes they
issue.
The government then pays the bank A
per cent interest on the $1OO.0 worth of
bonds they deposit, or $4,000, and the bank
on good security. at an average of per
cent interest yearly, or $4,000 in all. making
the total interest received on their invest
ON sl90O0o when they have only only made ,;ate.f an
Investment Of 100000 and the per cent
bonds deposited means In reality over 90 1-g
per cent on the money they actually have
lett IN the governments possession. for
there is only the difference between the
$50 600 thy receive and the s1O7 900 they have
OF course. the bank has some extra ex-
penses in connection with the matter that
reduces their apparent interest from the
government to about 20 per cent and the
interest on the whole to about 81 per cent,
but the fact still remains that the govern
ment is getting by far the worst Of a bad
bargain and doing a thing for the national
banker That no business man with any
common sense at all would ever think Of
This is protection to the banker with
q vengeance, and accounts for so many
banks being in existence. but it is 'robbng
to pay ali the taxes and are are sapps SUPPOSED 't to
keep good and quiet While the money is
being taken out of their pockets daily.
wonderful are its ways. No wonder the
bankers Of the country opposed the Demo-
cratic platform. which declared against
government bones in times of peace, No
wonder that they want to issue all the
paper money of the country so as to get
all rbIs The fpoila s. they can os.,o,
though and for their own interest the
Reprhlican party must not allow such
the people. rank and file, must be. made
to understand this great question ct once.
for i is far more important than the tariff
or the SILVER 10 @ and needs an
parties take up the cudgels of truth at
once and use all the influence possible on
their congressman and senators. Let pc
titionS to congress and protests against
such a course be sent to congress without
delay, for delays are dangerous and the
banks have more power now than they
all the money of the country and guarantee
each collar to he as good as any other by
receiving all of them in payment for all
obligations and panics will be a thing of the
past.
Banks and the bankers are all right. and
we must have them to get along. but the
government should not give them any such
dangerous rights and should take away
all power to issue money on bonds
or anything else. Pay them their per
cent interest on what bonds they hold. but
do not so any further; They have been
working with this end in View for years
and they must rot he allowed to accomplish
it now. This. goes much to establish the
correctness of the various letters said 10
have been issued al different times by the
American Bankers association of New
York and others TO the bankers of the
country.
Freemen of all parties awake, and strike
for your liberty before it is too late. or our
government becomes an oligarchy or mon
archy. and freedom is doomed to perish
forever! This shall not be.
+ PLURIBUS UNUM.
A. SINGLE-TAXER'S VIEW