The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-10-18
He Questions Judge Sawyer Concern
ing the Relations Now Existing Be-
tween the Government and tho
First National Bank Of
LincoinVile.
Bv FREDERICK UPHAM ADAMS.

T17HAsT have sy yoa d done T' Mot that
WV OF Judge Sawyer. Lncolnville's
banker and most substantial cit
kE7NTy5l lien. Postmaster Jeniins was
U6sAGIp Dusy with delayed mail.
what 100000" asked the Judge. lie
and the colonel had been friends since
boyhood, and neither hesitates to ask
questions of the other which both would
resent from an outsider.
'"lhe $4,000 which the United States
Treasury placed OH deposit with your
bank. and on which you pay no interest
answered Colonel Monroe. II should like
to borrow quarter Of 1t from you on the
Same terms"
II would be pleased to accommodate
you. colonel. but 1t would hardly be bust
ness" said Judge Sawyer. you seem 10
be very much concerned about that gov
eminent deposit n my bank It Will be
rowers can obtain It by fntnl Ling APP
vailng rates of Interest. Your. credit
is good at our. bank and I shall be glad
to. lend. you all or any part Of that h2s
and village real estate which would sell
tomorrow for $4,000. and will be, de-
lighted to accommodate YOU. Are there
ed?''
returned n11,e c Colonel Monroe. This free di,-
tribution of the nations wealth BY US
Department r fn1y 1 1F yeWpo %h
But do not imagine that I censure you
for accepting $4,000 OF this Tree cash.
Next to myself, 1twculd sooner see you
e ee1 the ' FACE a Of it, year clear profit
to YOU Since most Of all of this money
will be lent in or near Lihcoins,,e, ~, ~
again, and do not doubt but that 1t will
Be worth 5000 annually to you.
'"rhis free distribution OF cash. as you
call It, Ia q better thing for the country
than /. Is for the ., tbe anv
money are piled up In the National Treas
ury and withheld from circulation. There
Is now at the command of the National
Government moro than s6O.00,ooO In cash.
TO hoard all of this In Washington would
precipitate crisis and a panic. II IS 1or
Treasurer Of the United States selects
certain banks as places Of deposit: These
banks deposit government btnds with f
the government as security curl 1 r1r tii ie
not the slightest chance that the gov
eminent will lose dollar Of tho money
thus deposited"
For a genuine humorst; give me
straight face while making such a state
ment. Here is the straight English Of It.
Of the civilized globe at all times and in
all circumstances-With the single exGep-
tlon of when it happens to be lodged In
the Treasury of the United States; The
Of supply and demand or by the necessl-
ties, Of the borrower The mere fact
Of the possession Of h,99ney guarantees ,Rssa,Gva
10 hpgt form of DrODerty In the
world. What has happened? The people
nave been taxed 30 heavily on the neces--
stiles and Grdina of Of fe that
some form of taxation Every cent OF
en Is the peopGbS mone AND The ba
off f''l a part of Of this debt? Bless your
heart, that is against the rules The.
not get out Of 1t. Here is this unfortun-
ate government with 500 100000 or more
Of cash. What shall it do with It? ~. i
It not permitted to Pay its IS honest debts
Of from siS,ooo,oo5 to s2o.ooo,o0o Year.
NOW. mark you" continued Colonel
Monroe this is one Of the greatest GOV
most stupendous organization. 1t en-
ploys hundreds of thousands Of men
When but Psmy RED with Its
PRESENT sen IL WlluSlooo tie 81 euleSt
civil war which ever was waged since
history was recorded. In this time of
distress the banks came to tho rescue.
How? By lending money to the govern
ment at a round rate Of interest. True,
the greenback did its part, but the men
Of money had faith in the government,
the Size Of the aoaT fhs deR w
the government bound itself to pay In
terest. Governments always pay inter-
est. That is what governments are or
ganized form the opinion Of certain
class. But forty years pass away, and
this government finds itself with vast
crisis indeedl What shall be done? Pay
It back to the people who have paid
unnecessary taxes? Perish the thought.
1T would Immediately occur to bust
ness man, or even to newsboy, that the
logical thing to do with idle money
Is to lend it at the highest possible rate
Of interest. There Is no other reasonable
alternative. The money certainly should
be put In circulation. It Is as out Of
q harvesting machine. at an Ice cream
festival. There are thousands of farm
ers and business men who need the use
of these tax-clustered millions. and who
are willing to pay interest and put up
unquestioned security. In all the his
been paying interest. Now It has y
chance ia exact interest: 1t is a straight
great government do2 1t deposits these
millions In national banks and does not
exact from them one cent of interest
It sends the money to them by express
prepaid,
1.-THE people are hard up for money