The Leon reporter. (Leon, Iowa) 1887-1930, 1900-10-25
A Word More About the National
Banks.

A Word More About the National
Banks.
EDITOR REPORTER.
wrote you some time ago an article
on National Banking, showing the in
justice Of the National Banking system
and how the people IRE robbed OF their
jnst earnings by class legislation
for the bankers and asked for
criticism by any one that advocates
that system. But haven't seen any
and don't suppose will. The National
Banking system with the single gold
standard Is the matter of all trusts be-
cause the bankers control and own
larger amount of the gold and silver
bullion our money is made OF and
holds the power under the present
banking law to expand or contract the
amount Of money that goes into circula-
ton each year and also the power to
retire all of our legal tender paper
money and take it out of circulation
and substitute National Bank prom.
/
high rate of interest to do the business
of this whole nation. And | refer to
the present National Banking law in
proof Of my statements.
The present National Banking law is
one of the most infamous trusts to rob
and defraud the honest laborers Of this
nation and is done III direct violation OF
all principles of justice and equality.
There is not word or sentence in
the constitution giving congress the
power to delegate or authorize any
bank or banking corporation to control
the circulating medium of this nation.
Some persons will say how would the
money get in circulation without Ma.
tlonal Banks? just as it went into cir
culation during the war. The govern
ment pays it out for services on ma.
terials for the use of the people and
put over two Thousand millions in
circulation in the war of the Rebellion
to crush out the slave aristocracy that
the English government had entailed
on the colonies before the Revolution
war. And this banking system was
concocted in London in 1923 by the
money sharks of Lombard street Lon.
don with government bonds as basis
for the banking system and all non.
taxable when the constitution says
all property shall be taxed equally for
the wishes of the states and nation
governments and the constitution says
congress shall have power to coin
money and fix the value thereof and
not one word or sentence saying they
shall have power to delegate the issue
of money to banking corporations.
In 1886 president Jackson vetoed the
re.chartering of the old national banl
and as one of his reasons said it would
be controlled by foreign capital ane
would corrupt our legislators and coun
try in the interest Of capital as agains
labor and would be menace to the lib
critics of the people which prediction i
now literally being fulfilled in the yer.
way and manner he predicted it woul'
be because the money trust is tn
mother of all trusts and if that powe
was restored to the people and let con
gress authorize the issuing of all none
; gold, silver ard government papt
money direct to the people and pay O
all bonds as they become due as was til
81 ha To- nv,
the issuing of bonds at the close of tn
War of the Rebellion. The condition {
the people at the close of the War
the Rebellion in 1866 were principal
out of debt. What is the condition {
the people to-day?
At the beginning of 1899 the total il
debtedness was only forty billion do
/. lars. Ten billion dollars Of our lndeb
edness of forty billion is due to Englis
money lenders, who introduced amer
us the gold standard, which has reduce
the price of most all the products,
least SO per cent. Now, let us see VIII
/ this money trust has cost the laboril
classes of this country. In 1865 Il
!. people were principally out Of del
(See report of Hugh Mccullough, secl
tary of the treasury under Preside
Grant in 1859 and at the close of t
year 1899 we were in debt forty billi
dollars. You will understand bett
what forty billion dollars Of debts mea
!. to this nation when l tell you that,
the census of 1890, the total assess
y value of all real and personal prope,
\ in the United States was twenty-fe
Il billion six hundred million dolla
!. The fair cash value Of all real and p
I. sonal property in the United States
: now estimated at seventy billions
y dollars, so that We are indebted fife
billion dollars more than the to
assessment and more than halt as mt
- as the fair cash value Of all the real a
per sonal property in the United Sta
in 1899.
H. Now, if that is what President \
kinley and his man Hanna call pr
perity, then the less Of that kind
. prosperity we have the better the gr
laboring classes of the country wo
be. Debts have been the curse of
i'm nations for ages past and bono
feau debts are the curse of our nation tod