Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-05-14
THEBANKING SCHEME
THE "HONEST MONEY" OF
THE GOLDOCRACY.
A Movement Started In Favor or Inn
porting the Scotch Banking Method
of SHINING the Producers Crushing
Out Honest American Methods.

The latest task set it's kindergarten
teachers by the goldocracy Is to teach
the people the necessity of increased
banking facilities, through which the
banks may be enabled to loan money
to the farmer and small producer and
save them from the heartless rapacity
of the merchants and traders. They
have discovered system of banking
in Scotland that has moved their hearts
with longing. The canny Scot has
invented a scheme by which he is
enabled to have sub-banking office
in every village and loan money direct
to the farmers. By means Of this sys-
TEN the interest that the farmer or
other producer pays for the use OF his
credit goes direct to the bank without
being detected into the hands OF the
merchants.
But the most fascinating feature OF
the Scotch system, is the amount OF
business that may be done in proper
ton to the capital invested. The pro-
portion is as ~ to l, while in this coun-
try the most favorable proportion that
has been achieved is 4 to 1. That Is,
under the Scotch system the BANK
can keep at interest $12 for each
dollar invested in the business,
while in this country, under our sys-
TEN, not more than 81 can be made to
earn interest for each dollar OF capltai
invested. The envy naturally excited
in the bosoms of our American nnan-
ciers by contemplation of this scotch
system may be imagined. Or course
it is not considered necessary that Tue
lesson be taught the people shouid IN
clude any explanation of where the
other eleven Of the twelve dollars that
are used for the one invested came
from. It is not necessary that the
people should be permitted to unoer-
stand that the eleven dollars must be
either unsecured issue of the bank, or
the money of it's clients intrusteo 10
II without security. These are imam
cial intricacies too complicated for the
people to be troubled with, and the
philanthropic banker prefers to wres-
| tie with them unaided.
The lesson to be taught is that 0y
means of banks. unhampered by legal
restrictions. and left to be controlled
chiefly by the judgment and discretion
of the bankers, money will be made
plentiful and brought within easy
reach OF the people.
This undertaking is already well I'M
der way. The country is being strewn
with literature pointing out the beau
ties Of the Scotch banking system and
recommending it as remedy for the
evils which plutocracy-for the pur-
poses of this lesson only-admits are
comprising the ruin of the agricultur-
list. It is another grain added to the
mountain of evidence previously given
of the unbounded confidence of pluto
cracy in the stupidity Of the people.
How long will it take for them to
oyer.lo it, 1t would appear that a
proposition like this, coming from the
advocates of the gold standard, would
strain the capacity Of any kind of gull
libiIity.
In reading the proposed lesson, it
should not require more than an oc-
casional squirt between the lines to
discover the beauties of making gold
the only money of final payment and,
at the same time, turning the regula-
ton and issue of the circulating me-
dunn over to the banks. There is not
in the country more than enough gold
To nav the annual interest on our debts.
The proposition of the gold standard
and Scotch bank scheme is that we so
arrange that the banks can control the
gold and permit them to demand that
they be paid all debts due them in
gold, while they are allowed to confine
us to paper money with which to do
| business. ~
Until recently they have confined
their efforts to teaching the honesty
I and efficiency Of the gold dollar 1t
was represented as the only honest dol
lar and as being able and willing to do
all our business. Now it sulks in the
bank, vaults and demands that it's work
\ be done By deputy, the deputy to do all
the work and the principal reap the
reward. ''
1t is the same with the dollar as with
the man. The men who feed and
clothe the world are, treated with con-
tempt and abused and cursed II they
complain, while the idler is regarded
with a respect akin to awe; the silver
and paper dollars that do our business
pronounced dishonest while idle gold
is lauded. Our plutocrats cannot suf-
fciently show their contempt for the
divine fiat, "In the sweat of thy face
i shalt thou eat bread"
! CLINT ]. LEIGH.