Natchitoches populist., 1898-09-09
NATCHITOCHES, La, SEPTEMBER 9. 1898.

down the money. He cannot shift the
credit transaction unto another party.
The money In circulation must pay for
all the products consumed. and the
volume OF money in circulation be-
Ing very small compared to the vast
quantities of produce of various kinds
to be exchanged for ii, the price must
necessarily be low or the exchange can
not be made. There lis no new money
being put into circulation. The banks
have succeeded In having the govern
ment shut off from supplying any but
gold money, and precious little of that.
None but national banks are permitted
to issue more money and they are re-
tanning more of their circulation than
they are issuing. The circulating me-
dunn is growing scarcer steadily, and
prices are falling steadily.
Why do the business portion of the
people submit to this awful outrage of
continued debt and fleeing process?
Because they do not halt from their
tread-mill round of work and grinding
care long enough to think. The peo-
pie see this money power growing
holder as IL attacks the government and
usurps their prerogatives one by one.
The banking class with their great
monopoly batteFing rams are now as
sailing the citadel of the peoples lib
critics, with an audacity they never
have shown before. They are deter
mined to capture the government dur
ing the present administration, II pos
sible. Why will the industrious
classes submit to be plundered by these
brigands and enslaved when the rem
edy is so easily applied,
The government is the only power
that can furnish nation with money.
1t is the only lawmaker, and money Is
creation of law. The power that
creates money for the people to tram
sact business should provide means to
protect them frsm being fieeced by
the use of that money in the hands Of
the usurer The money in modern
business transactions must be distrib-
uted and handled, if the greatest dis
patch is desired, through banks. That
great privilege or franchise, In place OF
being reserved by the government for
the use and benefit Of the people, is
given away and permitted to be exer-
clsed by . favored class This favor
ed class, not satisfied with drawing
from the producers of wealth hundreds
OF millions annually, aspire to control
the government, dictate its financial
policy, and order laws enacted to pro-
mote their business at the cornmun-
ity's cost.
1t Is the duty Of the government to
establish system of banking for the
accommodation Of the people where
their money would always be safe, and
through which their business could be
transacted at the simple cost OF per-
forming the work, which would prob
ably amount to one half Of one per
cent on loans. in place OF six to ten,
or even more, which the present Fri
vate monopoly system costs.
When the Peoples party demand the
issue of legal tender money by the gov
eminent direct to the people without
the intervention Of banks, and in sufsi-
cient quantity to transact business on
level Of prices that will promote an
terprise and insure reasonable profit
as the reward Of industry, what is the
sequel to such demand7 How is it
possible for government to do this
without the requisite machinery
without The Intervention OF banks
we take to mean banks established by
private banking firms. The govern
ment must provide agents to distribute
the money among those who must nec-
essa,iiy use large amounts of money
in the transaction Of their business
It would be impossible for the govern
ment to either ascertain or distribute
the requisite amount of money to meet
the demands of business without bank
ing facilities to accomplish this object
and fulfill this demand.
The government has now 25,O0t
money order offices, which is a kind
of infant play at banking. If it would
.
establish 10000 banks OF deposit, dis
count and loan, there would be nj
necessity for a clumsy postal order sys
tenn. The security furnished by Dor
rowers Ii a criterion which would serve
as q gusds.to the amount Of money re
CURED by the demands of a healthy
business. 1t is the only guide the pri
vate banker has, and is an all sufacien
guide IL not departed from. But undel
our present private banking system /
is departed from and the peoples fund.-
placed in the custody of the banks fo
safe keeping are often used by the Off
GERS and fayorites In speculative enter
prises.
With system of government bank
the money oligarchy, which has be
come international and is increasing it
power rapidly for mere harm, woul'
not be left. sufficient power to harm
The people would esc,tpe the grinding
tax Of usury the banks exact from
them. Money could not be hoarde'
with the view OF creating panics TO
| political purposes, or forming corner
! In stoeka and nrodunn i strSn a,ane