Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1899-05-19
CURRENCY REFORMERS.
National Bank Conspiracy to
Destroy Greenbacks.
SILVER ALSO TO BE WIPED OUT.

Government Notes Which Do Not Pay Usu-
~ to Be Withdrawn From Circulation
and Their Places Taken by National
Bank Notes Drawing Interes.-A Fine
Scheme For the Shylocks.
Tbs object of national bank reform
ers" in "simplifying'' the currency is
itself simplified when we see that the
species of currency they desire to de.
stroy consists Of silver or notes issued
by the government directly to the peo-
pie for debts that bear no interest, while
those that are preserved and held sacred
are either gold that does not circulate or
notes issued by banks that represent
government debts that do bear interest.
Out Of these millions Of currency there
is only $223. 1927, 755 that is issued
by the national banks and represent q
debt upon which they can draw interest
from the government, while 1851, $685.
767 representing silver money and gov
eminent notes is active, running at
large. aud popular with the people. is
sued by the government and not pro-
ducing single cent Of usury to the ma
tional banks
When tho currency rcformers look
upon that 1851. 655. 767 carrying bless
ings to humble homes, animating with
hope the worn paths Of labor, thrusting
the torch Of prosperity into the dark
corners Of wretchedness and poverty
and maintaining its mission Of love and
charity absolutely free from the finger
Of the usurer. thoughts come over them
like those that came to General Butcher
when. after the battle Of Waterloo in
company with the British officers, he
was viewing the wealth and splendor Of
London, and it so impressed him with
lack of "simplification" that he was
constrained to remark aside to q COM
panion: "Mein Gottl Vat vine city
to sack!'
In eliminating this part Of our cur
rency they do not propose to contract
the general volume of currency that is
not to their interest. They propose that
the government shall withdraw this
1851, sos, 767 by degrees, say, $3.50, 900. .
900 Of it annually, and issue in its stead
government bonds bearing interest,
which bonds ara to be purchased by the
national banks, and these banks will
issue national bank notes which are ia
take the place Of the 1851. 655. 76! in
the currency Of the country. In other
words, the national banks will gather
i'll the obnoxious currency now out
standing on which the government pays
no interest. They will give this to the
government, and the latter will give
them an equal amount of bonds that
bear interest, and the banks will be
permitted to issue their own notes to
borrowers at high rate of interest to
the amount Of the currency withdrawn
and secure their redemption with the
bonds they receive from the government.
There are numerous schemes in prog
ress to effect this currency reform. They
differ in the extent to which it is to be
carried out in method and detail, but
the general effect and purpose Of all Is
above stated and in line with the pres.
ent national bank system. That they
will harmonic their differences when
the moment is ripe there is not the
| slightest doubt with those who have
the least knowledge Of their intelli.
gence, unity of interest and generous
self sacrifice for the triumph Of theil
classes. The prospect that invites the
national banks to perseverance is the
most alluring that has tempted the i'm.
agination since that which struck the
gaze of Christ upon the mount to which
the devil took him. The people can nc
longer be the creditor of their own gov.