The Louisiana populist., 1897-04-23
MORGAN'S COLU MN.
CAUSTIC COMMENT ON EVIL s
OF OUR TIMES,
"A chapter on the National Banker
Generally Traitor to His Country
All of the Worst Bunko Steerers Run.
ming at Large.

III all this wide world there is no
class CT men who can come any ways
near equalizing in gall the average ma
tlonal banker. Men who "hold up
railroad trains seldom rob the pas
sengers, and the highwayman who de-
mands your money usually fills up with
booze and tries to justify himself by
thinking he needs the money worse
than you do, but the banker without
any apology or saying "by your leave"
Will lead you into the worst bunco
game and at the same time swear by all
the big gods and little gods that it is q
square, honest deal.
Just LOW he is willing to swear tina.
for the government to take SO cents
worth OF silver, stamp it as money and
call 1t dollar is not only an impossi-
bility, but, If possible. would be one of
the greatest frauds Of the age. At the
same time he contends that the govern
ment can take less than a half cents
worth of paper, print the name of
bank on it, make it receivable for Gus
toms, give it to the banker at one per
cent and allow him to loan it to the
people at ten per cent per annum, and
1t constitutes the "best money in the
world"
But it is claimed that the banker
stands ready to redeem his bank note
money CD in gold. The banker don't
do any such thing. The law requires
each bank to keep a reserve of 25 per
cent OF its circulation as a redemption
1und. but this may be kept in green
backs. National bankers do not re-
deem each others notes, and conse-
quently if man had twenty bank bills
they might be from as many banks
scattered all over the country-some
two thousand miles off. 1t is therefore
practically impossible for him to de-
mand redemption. But if it was possi-
BILE for the holders of the notes to
present them for redemption, rs per
cent OF their face value would only pay
that proportion of them. If there is
any motive for 25 per cent of the hold
ers to present notes for redemption,
the same motive, fear, or loss of conf
dence, would prompt the others to
do so.
The whole thing is based upon fraud,
deception and favoritism. The only
thing that can be relied upon is the
government credit behind the notes.
Take this away and it remains the old
wildcat state bank system. If, then, it
requires the government credit to make
the notes good, why farm this credit
out to the banks to use to make profit
on OF the people?. No man has ever
been able to give sensible reason for
doing so. 1t is said that the people
are not capable of managing the finan-
cial affairs of this nation. This is as
base a falsehood as the one that kings
were of divine origin. No crew ever
scuttled its own ship. They cannot, if
they try, do any worse than the So
called financiers have done for the past
twenty years.
The old battle that Jackson and Ben
ton fought is on. "The bank is in the
field" Anyone who has watched close
ly and studied the movements of the
bankers can see that the silver Ques-
tion with them is only a side issue.
The real issue is bank control of paper
money, and therefore the entire control
of the currency and the business of the
country. Silver Is only the platform on
which they work their diabolical ma
chinery. The real question is, who
shall create and issue the paper money
Of the country-the people Or the bank
ers? Whether we shall have currency
to benefit the many or the few. Wheth-
er this government shall be admins
tered for the benefit of the wealthy or
for all. Whether patriotism and man
hood shall dominate in the administra-
tion of government and the laws, or
whether money shall purchase legisla-
ton and court decisions at will. These