The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1899-04-06

llOn ana Dusufess. Inc yearly auul-
ton to the money supply of the two
metals is inconsiderable We have
in this country about 81 500, 600, 600
of money including all kinds. The
banks OF this country have on de-
post about IS, 500, 600, 600. The
loans of the banks amount to about
81, 600, 600, 600 The banks have on
deposit s3,700, 100000 more than
the entire amount of money in the
country. The difference between the
amount of money in the country and
'he amounts in the banks consists Of
bank credits Upon this bank credit
the people have to pay interest
TIE difference between bank credits
and the actual amount of money in
the country is the additional amount
OF money the people of this country
need as a medium of exchange with
which to do business While it is
the function and duty of the govern
ment to manufacture three thirds
enough money needed by its people
as medium of exchange, it is now
only supplying one-ihrd the amount
used and required. The money sup
ply of the government is non inter-
est bearing while the credit supplied
by the banks is interest bearing.
There are, in round numbers, l, .
200, 600 firms and individuals doing
business in the United States. This
does not include professional men.
The amount of investment, in bust
ness, by each concern ranges from a
few dollars up to millions. A con-
servative estimate, acquiesced in by
eminent students of this branch of
political economy, places the average
amount needed by each business in
stitution at $4,000. This amount.
multiplied by the number of institu-
tons, leaves product of 81, 500, :
600, 600, an amount nearly equal to
the combined currency and bank
credit of the country. Therefore the
most accurate calculation we can
make, based upon existing facts and
conditions, discovers deficiency of
over So, 600, 900, 900 needed to trans
act the business of the people of the
United States The bank credit sys-
tenn has been fastened upon other
civilized and commercial countries
in about the same proportion. The
earth, up to the present time has
yielded only 81, 600, 600, 900 of silver
money and it is not a rash assertion
to make that, if we had on hand now
all the silver that will be produced
in the next half a century, the de-
mard would be greater than the sup
ply with the mints open to both met
ais alike, ut the ratio of 16 to l
Most of the bankers are in favor
of the single gold standard and
bank credits and against bimetallism
and non interest bearing money. The
reasons are plain sThe monopoly
of money gives them great pecuniarv
profit, as w j. Bryan has most
truly said. They can afford to en-
ploy the metropolitan press to befog
the minds of the people with articles
on "National Honor" "Cheap Mon.
ey," 'Silver is Dead" etc. They
can afford liberal contributions to a
presidential campaign fund to elect a
man who will pledge himself to the
maintenance and preservation of the
bank credit system and whose repre-
sentatives in Congress, as did the last
House Committee, vote for eCur
rency Reform Bill', which provides
for funding all the greenbacks and
other circulating notes on which the
people save the interest, into interest
bearing bonds, the banks to hold them
and draw the interest, giving their
notes without interest for them. the
people to be taxed to pay this inter
est. In addition, the banks to have
the exclusive right to furnish all the
paper money of the country, now and
hereafter, this money to be their
notes without interest, for other notes
drawing interest and well secured.
restricting and expanding this paper
money as deemed most profitable.
And this republican crime is likely
to become law ut the next session
of Congress.
Trusts found their first impetus in
the inadequate supply of money of
ultimate redemption, with which to
transact the business of the country.
Among the efforts which capitalists
have made to cheaper production
were increase in capacity of machin-
cry and decrease in proportionate
number of men necessary to operate
1t. Combined capital discovered that
1T could not only reduce expenses of
production, but could regulate the
law of supply and demand of its
product. Therefore, we find the
healthy, full grown trusts that under
stand their business and are in pos
session of all the reinforcements that
inlquitiuos legislation imparts. in a
position to govern, to large extent.
the price they pay for raw material
and the price they receive for their
g