The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-04-26
MORE OPPRESSION.
Go to Jail for Making Money. "A Free
People Ruled by Banking C0rp0-
ratiOnS.

very largely upon tuc IcidllOu DClWCCH
the quantity of their currency or money
and the extent of their business and pop
ulation. Properly the amount of money
in circulation should be fixed by the peo-
pie themselves, who have to use it; but
our parental government turns over the
supply of the money of the country very
largely to the banks, and it is the interest
of the banks that money should not be
very abundant, for the scarcer it is the
dearer it will be, and the higher rates
of interest it will command
The Republican papers have been tell
ing us all along that there was money
enough in the country for the business
OF the people. They say to us, Can you
not borrow money at the banks if you
have good security" Yes, upon basis
of property rated at one-fourth or one
tenth its former value! We know a case
OF a party who had number of lots in
St. Paul, which ten years ago he could
have readily sold for ST 200 apiece. The
other day he asked real estate man of
that city what those lots were worth. He
told him that they called them $Ioo
apiece, but that there was no sale for
them at any price. In other words, they
were worthless.
Now, the proprietor of these lots could
probably borrow one-third of nothing on
them at the bank, and satisfy himself
that the bank had plenty of money.
But the banks cannot loan their
moneys on account of this vast shrink
age in values; and hence they refuse
(many of them) to longer pay interest
to depostors, while others again .are
cutting down their capital stock one-half.
1t is dreadful state OF things when
there is no money in the country except
that which comes over the counter Of
bank and carries interest as long as it
circulates.
The merchants, finding themselves in
the midst of this state of things. have
taken to issuing metallic checks as evil
dences of Indebtedness, which pass from
in goods by the firm that issues them
This does not suit the banks That is
kind of money which pays them 10
interest, and so they appeal to our pa
ternal government to put the merchants
in prison who are issuing these checks.
We give the following history of the case:
Judge Lochren has to decide whether
or not the metal trading checks that are
now used largely in the country towns
of the state are used in violation of the
federal coinage laws.
The case of the United States against
Demetrius P. Roussopoulos was argued
before him yesterday on demurrer to
the criminal information which was filed
some time ago by Assistant United States
District Attorney Purdy The demurrer
was on the ground that the information
failed to specify crime.
Mr.. Roussopoulos is the proprietor of
the Northwestern Stamp Works. Among
other things he manufactures large
number of metal trading checks These
checks are made for merchants who use
them in their business. The trade in them
has grown to very large proportions, and
to satisfy many complaints and requests
for information, the authorities had Mr.
Roussopoulos arrested for a violation of
the counterfeiting laws. 1t is test case,
and even if he is found guilty the fine
that will be imposed upon him will be
the minimum under the law.
The trading checks are small metal
checks generally about the size of sill
yer quarter. They are stamped with the
name of the firm for which they are
made and state on their face that they
are good for certain amount in trade,
the amount ranging from S cents to ST.
In the information filed against Mr.
Roussopoulos there are six counts Four
of them are for making tokens OF four
different denominations for use in place
of lawful money of the United States"
and the other two are for making tokens
in simiitude to the lawful coins of the
United States"
INSTEAD OF MONEY.
The use of these tokens or trading
checks has become so general in some
parts of the state as to almost do away
with the circulation of coins of any other
description. They are issued by country
merchants. in some cases in great quaint
ties. Capt Lawrence, the special treas
ury agent in St. Paul, says he has care
fully investigated the matter and believes
that the use of them should be done away
with
The principal use of the checks is by
the general stores in the country. A
farmer brings in his produce to sell and
is paid for it in these checks The checks
are good for trade only at the store is
suing them. But from the fact that the
stores refuse to pay for produce in any
other currency, they soon come to be ac-
cepted by all other stores, as the farmers
selling produce have no other coin to
spend In this way their circulation be-
comes general in certain localities Cases
have even been found where people in
sisted on buying postage stamps and
money orders at postoffices with them.
and were much offended when the post
master refused to accept them.
Capt. Lawrence has about a bushel of
the checks in his possession. Wherever
he has heard of their use he has obtained
all he could of them for evidence in the
cases which he has prepared. If the test
case is decided in favor of the govern
ment other arrests will follow and there
will be many prosecutions, not only
against those who make them, but also
against those who use them.
SORT OF FORCED loan