The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-07-14
The BUREAU OF The CURRENCY

] ne 81 UNEAO CF HE CO NR6 NCE
Correspondence Of the Progressive Farmer.
One among the most important de
partments Of the government is the
currency. Congress ought to establish
G bureau Of the currency, it's chief
officers to be recommended to Congress
by the legislatures of the S.ata and
confirmed by the Senate.
Tee President is Commander in Chief
of the Army ard the Navy and the
Militia when called into active service.
Ought he to control the money Of the
nation? Nc; thousand times no The
sword and the purse ought forever to
be kept separate and apart. Church
and State kept forever separate. The
money Of the nation ought 20 be kept
separate and apart from corporations
or individuals controlled and governed
by Congress, the chosen representa-
tives Of the people. The Constitution
places the iseue Of money, and the con
troll of the volume Of currency in Con-
gress to be used for the good Of the
whole nation, Congress has established
mInts to coin money and regula ted the
volume thereof, and is authOr:z q to
regulate the value of foreign coin.
Congress has power to purchase lands
within the State by ard with the con-
sent of the legislature ito erect forts,
magazines, arsenals, dock yards and
other neodful buildings" Il not sub
treasury at all points in the States
where there are national banks a need
full building Are they not necessary
to receive and safely keep and transact
the money of the government? Section
s, clause IS Of U. S Constitution:
GA corporation is an incorporated
body created by law and composed of
individuals united under a common
name, authoriz2 ID to act as a single
person. A corporation has no soul. A
corporation or a number of corpora
tions, as the national banks, ought not
to be allowed to control the volume of
the currency Of the nation, to make
money s;arce or plenty at their will
and pleasure. The COmptr0ller's Re
port Of the Currency December 2l,
1895: Total number Of national banks
organ z d since 1868 is 5, ,O23; those in
active operation in October, 3,715
They are repositories Of our money
and ac5 as fiscal agents of cur govern
ment; page 221. The Comptroller de
sires them to issue their notes to the
par value Of the bonds deposited with
the Treasurer, to ALLOW them to supply
the nation with their bills, have their
notes in room of a y. s note wants the
y. s. currency cancelled and the chan
nel left open for these corporD tions. He
states they get most Of their profits
from deposits. reckon a great deal
of the deposits is our money used by
them without interest. Is this not
good for the rich?
The national banks oppose the free
coinage of silver, oppose the issue of
U. s. notes and monopoEz3 and control
the money Of the nation. The United
States Constitution is dead letter. 1t
is misnomer to call them national
banks; that name is intended to deceive
the masses. They are misnamed, 1t
does not require banks established by
law to enable man to loan or borrow
money. The Act of Congress creating
them is in the face and the teeth Of the
Constitution. They are eubversive of
civil rights and constitutional law and
ought to go down. The argument used |
by President Andrew Jackson against
the old .. s. bank is applicable to them.
He said:
ITO destroy this dangerous monopoly
is no small task; we must not hope that