The midland journal. (Rising Sun, Md.) 1885-1947, 1897-04-23

COuIulGuCC uIdW1uS lIoIll tAC DdnhoJ
and the panic spreads. Such bus
mess crashes could not occur if the
money of the country was handled
by government banks. The guam
tity OF money demanded by the
volume of legitimate business would
always be determined to a dollar.
AS long as the borrowers furnished
the required security for the return
of the loans or renewal at maturity,
would prove an unfailing business
barometer, and the government
loans would be of money not purely
credit based ON collaterals or secu-
rites of those who had borrowed
bank credit, and this is what bank
credit loans are based on, credit,
the supposed ability of borrowers to
pay. The loans by government
bank would be based on the ability
of the government.
The bank loans second, third,
fourth, etc., borrower credit on the
first and subsequent borrowers
security. The government as
banker for the people would always
know the amount of money the
business of the country required by
the demand backed by undoubted
security. When business Stacked
up there would be no temptation to
invest depositors' money in specu-
lative enterprises as practiced by
many of the banks and assisted by
all, while the officers share the
winnings and depositors stand the
losses. The government would
have no necessity to pile up hun
hreds of millions of dollars in sub
treasury vaults as at present. Over
two hundred millions are now
locked up in the treasury which
would be in circulation were the
government its own and the peoples
banker. Government taxes, state,
national and municipal, would go
to swell the general line of deposits
and be in constant use.
The clearing houses of the coun
try give the public some inkling of
the immense amount of wind or
credit money used in place of real
money, when they report fifty to
sixty billions of business going
through them yearly.
There is not more than $500, O0O,
600 of actual money in circulation,
if so much as that, and a thousand
million held as reserve to protect
the wind or credit money, which is
forced on the people by the banks,
costing them fabulous sums in
interest.
There is no other way by which
the money can be issued direct to
the peaple except through system
of government banks. There is no
other way by which 1t can be de-
termined how much money is re-
quired to transact the business of
the country except through a sys-
tenn of government banks, where
the security offered to guarantee
payment at maturity of loans would
always gauge the amount that bus
mess required and the ability of
borrowers to pay.
All money issued by the govern
ment, whether coin or paper, would
necessarily be of full legal tender.
The government would receive ii
for taxes and dues from the people
to pay their loans to the banks.
The volume in circulation would
always be equal to the demands of
business, no more, no less, and
prices gagged by the quantity of
money in circulation and demand
and supply, would be sustained
with but little change.
These are some of the manifest
benefits that would result from the
government assuming the control of
money and business and wrestling
them out of the hands of small
class, or rather coterie of usurers
called bankers, and whose self
importance has been inflated from
its natural dimentions of a toad,
compared with wealth producing
pursuits, to that of an OK, and their
arrogance has kept pace with their
assumption, if it hasn't outrun it.
Through the government bank is
the only approach to strike death
dealing blow to the Rothschilds'