The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-03-24
FACTS TO BE CONSIDERED.

FACTS TO BE CONSIDERED.
Bills of credit (treasury notes. made
legal tender are the best money the
world ever Saw.-Benjamin Franklin.
Bank paper (bank notes. must be
suppressed. and the issue of the circu-
lating medium restored to the nation,
to whom it belongs. Banking
establishments are more dangerous
than standing armies. Thomas JEFF
fersOn.
Bonds and banks 1 never approved.
Our whole banking sys tenn l ever
abhorred, l continue to abhor. and
shall die abhorring."-John Adams
No paper Cike the bank note) whose
credit rests upon a promise to pay is
suitable for currency. John G. Cal
hOun.
Half civilized people want coin and
convertible paper. But people who
are fully civilized prefer irredee mable
paper money.'-Herbert Spencer.
"Gold is the instrument OF ga m lers
and spectators, and the idol Of the
thief and the miser." -Hon. JohnJ In
gals OF Kansas.
when all our paper currency is
made payable in specie on demand it
will prove the most certain means
which can be used to fertilize the rich
mans field by the sweat Of the poor
mans brow."-Daniel Webster.
The prime continuance for DrOduc-
ing inequalities in human condition is
the creation Of paper medium (bank
notes) purpOrting to be converti BILE
into coin. From this invention spring
the BaringS, the Rothschilds and the
splendid few who live at the expense
Of the many. Hon. E. NJ. T. Hunter,
Of Virginia.
''Some of the colonial governments,
that Of Pennsylvania particularly, de-
rived revenue from lending legal
jects at an interest Of SO much per
cent.-Adam Smiths Wealth of Ma
lions, 1916.
Nothing in the history Of the world
was like the progress OF our colonial
ancestors when the system Adam
Smith refers to prevailed. Edmund
Burke.
The irredeemable paper money Of
the Italian republic of Venice COM
manded premium over gold from
I'LL to 1797-over 600 years-and made
the prosperity of Venice and the hap
piness Of her people the wonder Of the
world until the country was conquer
ed and her financial system over
thrown by Napoleon Bonaparte. The
people of Venice had no use for coin.
Paper money was at high premium
over metal money, and at length the
government made law for the pro.
lection of coin which provided that
no one should demand a higher prem
ium than 20 per cent for paper mon.
ey.'-History Of Venice.
IF we establish a money which has
no intrinsic value, or whose intrinsic
value is such that it will never be ex-
ported, and the quantity OF which
shall never exceed the demand in the
country, we shall have reached wealth
and power. John Law, Financial
Minister OF France in 1920.
"While Laws system prevailed man
ufactures increased, beggars found EN-.
ployment, industry had wings. inter-
est fell, usuary was crushed. and
smiling plenty reigned upon every
hand. England perceived with terror
the lever in the hands of France
which she used to raise the world and
it was England that overthrow Law
and his system by means Of her agents
in the Council of the Regency. y
Louis Blanc. French Historian.
"The citiZsns of large nation, in
dustriously organized, have reached
their ideal Of possible happiness when
the producing, distributing and other
activities are such that each citizen
finds in them place for all his cner--
gies and apttudes while he obtains
the means OF satisfying all his de-
sires." -Herbert Spencer.
mo thinking man will controvert
that associated industry is the most
powerful agent of production, and
that the principle Of association is
susceptible of further and beneficial
development. John Stuart Mill.