The Penn's Grove record., 1897-05-14

them down by hard labor, poverty, ana
ignorance, and to take from them, as
from bees, so much OF their earnings
as that unremitting labor shall be neces'
sary to obtain a sufficient surplus bare
" to maintain their privileged orders
in splendor and idlsness, to fascinate
the eyes of the people, and excite id
them ar humble alteration aud submits
sion, as to an order Of superior beings.
We believe that men enjoying in ease
and security the full fruits of their own
industry, enlisted by all their interests
| on the side of law and order, habitua-
ted to think for themselves, and to
their reason as a guide, which would
be more easily and safely governed,
than with minds nourished In error n
yitiated and debased, as in Europe by
ignorance, indulgence and oppression"
Letter to Judge johnson, 1928.
San aristocracy of wealth is of more
harm and danger than benefit to Soc
iety''-autobiography 1921.
"FundiDg is simply robbing the peo'
pie by wholesale"
Another bill authorizes the U. 5.
Comptroller to issue to national banks
notes Sound rag money to the amount
oftheir capital stock, Without depositing
bonds, and when a bank becomes insol.
vent the U. S. Treasurer is to pay the
balance not paid by the assets of the
bank. That is called "a safe, ample.
elastic and cheap currency"
1t is safe, ample and cheap for the
banks as it will cost them nothing. 1t
is expensive for the people because it
will cost them 6 per cent. interest, and
there will be no other money to be had
because, the silver dollars on which is
liberty, will be melted down, and the
silver certificates, treasury notes and
gTeenbacks will have been destroyed,
These cost no interest but TO replace
them with bank notes will take over u
billion of bank notes sound rag mon
ey. This will cost the people 6 per
cent. That means Oh a billion $780,
900 1900 the a~ristocratic dr0nes will
take annually from the bees, the work
ing, producing people,.
What did Jefferson say about that?
In a letter to eX-President Adams, dat
ed Jan. "a, 1874, the author of the De-
claration of Independence wrote: II
have ever been the enemy of banks, not
of those discounting for cash, but Of
those foisting their own paper into cir.
culation and thus banishing cash. My
zeal against those institutions was SO
warm and open at the establishment of
the bank of the United States that ]
was derided as a maniac by the tribe OF
bank mongers who were seeking to fitch
from the public their swindling and
barren gains"
There are Jefferson's own words that
he was '~'insane" on the money ques'
ton. Now produce your ~''incontrov-
ertible eyidence'' to the contrary.
"Bank paper must be suppressed, and
the circulating medium must be
restored to the nation to whom il
belongs. 1t is the only fund on which
they can rely for loans; it is the only
recourse which "a neve fail them,
and it is al abundant one for every
necessary purpose. Treasury bills
bottomed on taxes, bearing or not bear,
ing interest, as may be found necessary,
thrown into circulation will take the
place of so much gold and silver, which
last, when crowded, will find an eflux
into other countries, and thus keep the
quantum Of medium at its salutary lev
Ell. Let banks continue, if they please,
but letIthem discount for cash alone OF
for Treasury notes. "-Letter September
II, 1913, volume 6, pages 1879, 200, pol,
What did Jefferson say about greens
backs lfat' rag moneyl2
sin the war Ct 1855 our State Lvir
ISTailed itself of this fund by is
s4gagng a paper money bottomed on 8
specific tax for its redemption, and Il
insure its credit, bearing an interest Of
5 per cent. Within a very short time
not a bill of this emission was to bt
found in circulation. 1t was locked ar
in the chests of executors, guardians,
widows, farmers, etc. We then issued
bills bottomed on a redeeming tax, but
bearing no interest. These were read.
lily received, and never deprecated a
single farthiDg. "-(Jederson's Works,
volume A., pages 40, AL
These are Jefferson's own words that
a price of paper can be made, as good as
both gold and silver without any re-
demption in either gold or silver ex-
cept in government dues. That proves
Jefferson was surely insane for he says
his political opponents said he was a
maniac, a raying lunatic.
The receiving of bank notes Sound
rag money for all government dues ex.
cept duties on imports and paying them
out for all debts the government owes,
except principal and interest of the
public debt, is what makes them as
valuable as other money, and is the diff.
ference between national bank notes
and the old State bank notes which
neither the State nor nation agreed to
receive. Coin redemption is a fake for
the sole benefit of foreign bankers and
no bank ever redeems their notes and
never expects to. They live and pros.
nor nrinninnlu off nf mhnA Ihnu nuo