Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1900-06-07
GOVERNMENT BANKS.
Without Them There Can lie M Practical
or bonehclal SOLUTION OF the
Money QusNtiop.


The weak point, or omission In the
Sioux Falls platform, Is the demand
FOR postal savings banks instead OF
government banks 10 keep the money
II Issues out of the control OF money
spectators, The national banks do
not care very great deal for the priv
ilege of Issuing currency. Very few
OF them issue the amount the law in
It's old form permitted, and they will
probably not issue much more under
the new form.
What the bnnkers-the head men of
the bank monopoly or trust-desire
IL TO en- Joy the credit Of the govern
ment TO bOnk on, and deprive the gov
eminent of all power 10 issue any
money except the amount Of gold
they deliver TO the mints and order
coined on their account,
The banks want the privilege of
loaning credit, with the apparent in
dorsement of the government. The
less money In circulation the lower
prices will he and the more property
the interest which they collect from
the public will purchase. They de-
sire 10 loan credit 10 finance all bust
ness operations OF any magnitude and
by that system hold debt over every
business organization or business man
In the country, with sufficient money
In circulation only TO cash checks that
are issued against their credit loans,
The banks now have power, under
their currency law which they cOll
the gold standard, TO issue us much or
as little circulation as they desire,
The gold coin will not circulate and
this they hold and call reserve. When
they have succeeded in taking the
greenbacks out Of circulation. silver
certificates and their own notes will
constitute the circulating medium,
The quantity Of which the banks will
be able to completely control,
II the right TO issue circulation is
cut off as the platform above demands,
and the government restored 10 it's
constitutional right TO issue legal ten
der paper money and the free coinage
of silver, and stops right there, il
would leave the banks in full control
Of the money Of the country TO ma
nipulate and speculate with IL ns they
do now. They would have no further
use for bonds or for government
charter, but could go on under state
charters as usual, with lonning wind
or credit and receiving the peoples
money on deposit as AT present,
What we need instead of postal saw
ings banks IL the establishment Of
system Of government banks for the
deposit and safe keeping Of every
body's money, not merely for the de-
post Of pennies and nickels of the
poorest class, with full banking priv.
iIcges to discount and loan, 4 system
o. government banks would soon re-
ceive all deposits. No one would de-
post in private corporations bank,
which all national banks are, when
the security of government bank
was offered. One-half of the interest
which Is paid by the business com
munity into the present private banks
would defray the entire expense Of
government, with no tax from other
sources needed, and leave enough to
build systems Of railroads, telephones
and telcgraphs throughout the entire
country II the people demanded them,
md nj lower rnte Of interest than
is eNNcted by our present banks,
II such system were established
we would hear no more opposition to
the free coinage of silver or a gold
standard advocated as the salvation
of the country and the palladium of
our liberties" The bankers occupa-
ton, like 0thello's, would be gone and
his mission from Wall street to the
treasury to save the countrye credit,
would cense. People who corner
money and hold II out of use for the
purpose of loaning il to others more
industrious and enterprising than
themselves, would put it into bus
mess and follow II up in order to
create more wealth by an honest
business of their own.
Give the people system Of gov
eminent banks and an independent |
American financial system, in place of |
the small fry postal savings banks,
and dispense with cilk hat fraternity /
which is rapidly growing into Il So
lcct pmtocr0tic class in this country,
assuming TO be vested with Il supreme
power little short of the exploited
divine right of kings" Midland
journal.