The herald., 1896-09-06


prompt dismissal. He would be told in
plain English that such favors were not
for common people, that only the rich
and powerful were entitled to receive
aid, protection and bounties from thu
government, and if you should be bold
enough to protest against such unjust
discrimination, you would be denounced
at once by our great gold standard aris-
tocrats as an anarchist and repudia-
zionist.
Now, under this peculiar class of leg
islation national banks are enabled not
only to control the finances of the coun-
try. but they absolutely dictate terms
to this government of 100000 people.
Under this law these favored banks
have the power to issue their notes,
and the government guarantees their
redemption, and only requires the banks
to carry a reserve of 25 per cent in some
kind Of government money to secure
depositors, and this reserve is not gold,
but money issued on the faith of govern
ment bonds, and these bonds secured
by the wealth of the nation. Now, If
these national banks are sound and safe
institutions and furnish, as the Republi-
cans claim, the best money for the peo-
pie. how much better and safer would
money issued directly by the government
be? Suppose the government Should
adopt free coinage of silver, 16 to 1, and
suppose the government should pur-
chase all the silver and gold bullion that
should be offered, say to the amount of
$l,O0OOOO,O0O. and not only issue it's notes
for the purchase Of this bullion, but also
issue for every dollar in gold and silver
reserve that there is in the vaults of
the national treasury 81 additional in its
notes, thus giving us a CIRCULATION of
s4,0OO,00o,000, with reserve of 81, 900, ,O0O,-
600 In gold and silver. Now, this cir
culation would be secured not only by
the wealth OF the government, but by
a reserve of $1,000, 900, 600 in coin, thus
giving US per capita circulation of
about $50 for our 10000 900 people. and
the best money and safest money that
we have ever had in this country In suffl-
Client volume to meet the demands of
the business Of the country. Then, in
case OF any great crisis or financial
commotion, If the government reserve
should become endangered, the govern
ment could issue it's bonds and replen-
1sh from their sale, as the people, under
this system would always readily absorb
the bonds. Whereas, under a similar
crisis, the national banks and the saw
1ngs banks would have to 60 to the wall.
Hence, is it not plain to comprehend.
even by the ordinary mind, that the
thing to do is to repeal the national
bank law, abolish the unjust and dis
eliminating system, and adopt a sound,
safe and healthy currency, which the
whole people would approve? Under
the system Of popular loans and dis
tributing the government bonds among
the people as herein suggested, and
making our people, as it were, partners
IN the government, we would establish
a loyalty that can be brought about in
no other way, for there is nothing that
50 attaches a subject to his govern
ment as being shareholder in its secu-
rifles.
WE ARE "A PROGRESSIVE PEOPLE.
And the plain people are becoming ed
ucated. They are reading people and
among other things they read that a
few generations back our ancestors,
after much thought and many delibera-
tions, finally came to the conclusion that
Kings and queens, emperors and mon
right the owners Of the bodies and
souls of men, and notwithstanding they
were only 100000 strong and nearly
one-third OF this number were loyal to
King George, these patriots of the colo
nies, denied the divine rights of kings
to longer rule and rob the people, land
they arose in their might and drove the
pretenders from the shores Of this beau
tiful land and established for them
selves, their children and their children's
children this great free republic, grand,
glorious and just to all men, and by all
that is sacred. by all that is patriotic, by
love of home and family, the descend
ants Of this noble ancestry intend to
maintain, perpetuate and defend the
principles Of that government until
death shall lay his 10y hand upon the
world ana close all human life forever: