Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-08-25
Is Needed by Properly Educated People h
Order to Do Their Business.
THEY ISSUE BANK CHECKS. OF COURSE.
Kick for More Money Comes Prom Rural
Dl''ricts-i,cad Hoya speech
before tho nanker-.

ht.d .f hiukHs Facilities no rural die.
.iNN va. uuHuUl NN ar. Wm. j.
'.l'H' ". Richmond. va. BE said ln
Tho vas. mass oi Go. American PEG.
Of" nave 500 n learn t1u UImOniafy
PROPOSITIONS upon wilton uu. uu1nT,
Do founded, tu.Wlfi thHt money hda o.
own value, uud chat .Js value docs mol
WU 90 o. from IHW. uH tuU great bulk
90 90. people believe 90 hr tho ease
Nlt this value rctta. llkr the value II
V'fNthIug else, upon the labor re-
uuIrrd Goo produce %. that demand De-.
lff conceded. 10 DO takes % days labor
90 produce .l22 grains ui rull CNhlt
Me can % dulllrl and days labor t1
piulucn huahci of wheat thry are %
ihr mmc value. that The province %
DO. dollar o. 90 clmplr0 iuUf with the
commodity and determine that ctch
tUludlHa the HTmu amount Of labor.
W1rf upon We a1y thousand hush-
clH ~ wheat are worth thousand dol.
llrH. That uNH being determined. busi-
rras Dr. nos pun base AMI sale ~ come
modiucs Tor money. aa the people be-
liuvo. bus exchange of them Objected
by Hwupr.nr diluH Cor their value In
the banks. ihHt ihn 40 lmpurtnnt
thing then d. tu Keep the mnney--thc
standard uf value. always intact.
nhcrCupIu huHiurHH la Couductcd hy
exchange ~ credits, ana these credits
VIII HUHIl uut DO auy size required,
furnishing 40 tho money that can be-
used. and That tho lll.impurTuni thing
after thH Preservation ~ the standard
20 value On 90 give perfect freedom 10
rrlltH. Tho vast mass ~ tho American
D nplr have got Go learn these eimon-
iary truths, ana yet they must always
rrupc 10 the dark and Boz always pro-
ducing confusion until ihCy do learn
thom.
"The climor 81 the day n Tor moro
money ~ D. the backbone ~ free sli-
yrf' To get 'mlrc money more than
G.u0O.OO1 ~ voters declared IN 90 for
fruo silver They were willing 10 take
bad money 90 gat more money This
sccns absurd. but there never yet was
a great popular movement Ike this
without some solid cause behind Il. The
fool pooh punha the whole business.
The wise man looks for the cause. Let
a. take the part " the wise man.
when looking lutn The ease. the first
fact 90 meet o. lH the abundance %
money ln the elites. But there n u0ns
boz the country, whence the olamor
oumuA
People IN the cities have plenty Of
money because they uie scarcely any.
1hey 10 an their business win checks.
aud need enough only % 80 90 mar
knf ANA 90 pay HirrUtOr fairs.
"liut ln the agricultural districts
there are DO banks FOR the people to
Oh ck on. Everyone knows this 10 be
fact why IL ~ BecauHo the tax ~
zen per cent on ne issues OF state
banks makes any but national banks
lmpurticnhle The national banks are
founded on national bonds, Of which
ihr farmers have none, and they are
antl.rurtl also In their nature There
are no banks ln the country then for
the people o. check upon. and checks
are unaValllng 90 them. a check Is ~
10 use 10 a cuwbny on the plains. Tho
country people must have actual cash
for their anlirs and yet thcy have
none. Why Dr. thlsf 10 Us because an
Of our money 20 good len ltH face val-
uu ln every part OF The United States
gold because % It's intrinsic
value, silver because the United
states government practically gives
guld Tor 20, ana grconbacks
and national bank notes because the
other bears ltH endorsement. This being
90. al uf 10 goes 90 the commercial ccn-
turH ana leaves the country people duH-
iituto We hear cvory fali that money
is scarce aud interest high In New
York. because an the money has been
sent west % move the crops of grain,
and south 10 move the cotton. This
money 10 not used 90 buy grain and
cotton. That II nll paid Tor with OK
change II " used principally 10 pay
labor, ana therefore. gets spread out
amongst the people nut In three
time II har ~ returned toNew
York. interest IN again normal there.
tho country districts are again dcsti-
tute OF money and the same process
must De- repeated next year.
'rhe cpuniryman reads IN his news
paper that the New Yorker can borrow
ill the money be- wants Tor per cont
while ho. with valuable property can
ret none az 10 per cent and he feels
mat he is Wrongcd, ne is wronEed.
rhera 10 the scat Of free silver strength.
hiugh n the farmer only knew H., the
liver dollar would leave him just as
hr grernhlCk does n would be good
.lr its real value an over the nation
md. ns 10 would become the sole money
3 also would go 90 the commercial cen-
era. Free silver would only produce
general liquidation and then Il would
cave the farmer ns rrrenhacks 90.
ne great uphoavnl Tor frrc silver came
hen from the country people who
iiurd forces with the tale workmen
Il the cities that the threat u free sii-
'er throw out of employment II hnf
fs orign iu tho countrymln's unsup-
l.ipd need Tor money and we VIII have
o face n again unless we remove the
luse NJ the couniryman's discomfort.
There is hut one possible remedy
banking system that win permit each
aallty 90 bank upon such resources
.H ~ has, with banks managed by
zeal directors who are acquainted with
Dor people OF the noghh1rh0nd that
equ.rs banking accommodations. This
act requirement iH Just as important
r. freedom lu banking This amend
laut uf lhu law would carry the romc-
81 90 the seat ~ the disease. We viii
ever have peace and ooufenimcnt until
ur banking system allows those two
Do .aFurOs. Allow 70 locality 20 have
.arf,ct freedom aud thc facilities FOR
arkiur ON what 10 has, and IL viii
awe. relatively, aH many banking re-
mreHs ls wan street has. It, sys-
m may he one that Wall street viii
puIu. Hut N n supplies 10 needs ~
hat locality. of what consequence liz
van streets contempt To have these
ieal banks 10 10 essential that they
h1uld be- allowed no. issue their cir
ulatIou notes, because "a very great
rtportl1n ~ them would DO very
mItrd business. and with a small ca
Ital aud they must De permitted to
their capital by notes In Or
.r tu have enough resources TO do
iNIug business. know the prejudice
gainst staia banks Will never permit