The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-11-17
BANK NOTE DEsPoTISM-
u,ut.u y Bryan-s Reasons for Pre-
f<rrInE the srernhasA-
n sro.s Favorirism-

have = Cu---~ 49,
sire 10 make GOLD the only lesal 'el1e
for the payment Of debts puoAe aIo
private. l have discussed this question: I
=, former occasions and pointed out
that the necessary effect Of such a law
xo,ssd lie 10 create a greater demand 4
or s-old. which would then be the onls
money legally available for the pay
MT ~ debts. and thus aid tie money I
owning class and injure the wealth.
producing class
The second purpose OF the advocates
~ ,he ~olI standard is 20 make bank
notes the only credit money
In response 10 your invitation beg
- submit a few arguments IL support
~ the rreenback a. against the bank
note. The greenback Is issued by TIE
-ox-rnmeur. and the volume OF sucn
money i determined by The people, aes-
inr through their representatives Inc
s,,-.-ene court has held that such a
money can he made legal tender
When 4 man has green0acAs IN Ms |
norle- he has money which IS available
I s,r ,ha pavnent OF his debts; II he has
hank notes his money Is only good
when the creditor is willing TO accept
the money
During the war, when gold and silver
were al a premium. bank notes cireu-
r..4d on = level with greenbacks- ana
,xore never worth any more the rea-
sr- being that rational bank notes are
,axable ~ lawful money. and the green
hack being lawful money (and AZ mat
time the cheapest money! was used oy
"a. hanks for the redemption ~ DanA
notes. IL j. interesting now 70 hear
these same bankers. who redeemed
bank notes in paper when gold ana ST.
YER were at premium OF over nun
crsd per cent talk about the elsAoL
.s.v u debtor. whether the debtor oe
~ individual or the government, who
,xouid redeem his obligations IN any
thing but the dearest money
The bark note has been good be
! c-uss il has had behind it the bonds
and rreenbacks issued by the govern
--.r-. Ifthe ereenback Is good enorS
! 10 stand behind the bank note. II Is good
: enough 70 stand alone without any
! bank note in front OF IL
Z \ national bank currency Is ooyee'
I -5ouab'e because il i gross favoriilSti
{ .~..-sel TO Z few. \ bill reported by
- house committee on coinage
a xx.irhrs and measures in the last con
Il -r..s provided. First = That m
K treasurer Of the United States pay GU
r s-,iI coin in redemption OF greenDack
" ana treasury notes. second that tn
: secretary OF the treasury have author
irv 10 issue gold bonds. drawing ne
S. more than three per cent. 70 secure IN
4 gold 10 maintain gold redemption
d -hfrf that rational banks be allowed
10 Lenosit bonds and receive uanA NO
= % 10 tie par value Of the bonds 20 -
9. nestled: fourth. that the tax on hatioi
n - hanks be reduced II this plan So'
- ;-ro rr.rarFo-. the difference in its
=. f.r- rr.9n the Individual and the ~
= .7,ral tark NAV be stated as follow
= tn. r-rrrrhacks are TO he retired az
a. j.n-ss issued. This viii mean an 4
il crease In taxes 20 pay the interest ups
he The ponds. The individual who enlo
= 10 srecial privileges viii ind his tax
~ decreased. while the national ban
On that enjoys special privileges will ny
"a ii tax diminished. Second-lf the
D. digiduaI buys bond AZ par ne Will -
the use 81 his money and must eonte
himself with the three Per cent int'
80 80 IL national bank invests
~ bonds AZ par il ca deposit the bon
80 -ra s.esrc hank notes TO the face val
~. ~ he bonds. thus securing return
IL Investment. and in addition to IN
80 i can draw three per cent. inter
- ,.-.,- NE bonds. In other words
- Individual parts with his money
:. draw. interest while the rational "a
-s-s is money back and draws inter
t,.ss,seS. The individual must eat
- cake or keep il. The national bank %
- eats its cake and keeps IL Ibis Is
voritisrn that ought not 10 be tolera
IN ! govern rneut which recognizes
- doctrine 81 equality before the /
- The moment the government begins
confer special privileges those IN a
sitiou 10 profit by favoritism begin
,,,--o- for legislation Immediately
,h.s- interest. and as n result the
s,rr-,4rtaIftiss Of government
" used fcr private gain and the true
nose OF government forgotten.
There i another objection to the
-. rIC-GL bank f4EEtl'r- $3.50"
-, The rational banks are given COT
~. over tie volume OF credit money. 4
"a er 70 issue money should never ne
trusted 20 private individuals or prl'
generations jefferson was an 81
rert ~ banks ~ Issue. and IN one o.
letters declared that his opposition
-. % persistent that he had been
- rou-ced a. a maniac by those "a
vto desired TO secure this PRIV
from the government. Benton II
~. ming VIZ the work cf Jackson. gave
90 ph-sis TO his fight with the nati
bank. and compared his work with
work OF Cicero. saying that when y
ugh, s.roved the hank conspiracy ne :
na- America. as Cicero had saved Rom
l-sti- overthrovinr the conspiracy OF
= IA line
"a Wendell Phillips has SO well
- - allowing DIT