The independent., 1903-10-08
BOOK 2.-Chapter Xxx.
All Rights Reserved

Writers, who have failed to compre-
bend the facts regarding the so-called
"Bank of Venice" have called these
payments of taxes in advance. de
posits of metal" and have thereby
confused themselves and their readers.
There was no deposit" The owners
understood perfectly that the bullion
would never be returned TO tirem. NO
promise of it's return was either ex-
pressed or implied.
On the contrary, all knew that the
bullion was gathered for the sole pur-
pose Of being sent into foreign lands
TO be exchanged for the services and
materials required to carry on the
operations of the government.
1t is competent for government to
make anything it may appoint to that
office, a peremptory receipt by it's ten
de: against it's own tax levies. Since
every litigant must submit himself to
the jurisdiction Of the court to which
he appeals. as his only lawful means
t. enforce collection of his claims, and
accept what it decrees-or nothing
it is likewise competent for govern
ment to determine that the same thing
it accepts as proof of payment against
tax levies, shall be like receipt by
| tender against all judgments, and pass
to the creditor with that power.
| There is no force of demand for
coin, except that which is generated by
the universal and urgent struggle
among men for it, caused by statutes
compelling its use by them as the sole
means of cancelling tax levies and
judgments. Those "coins" inscribed
uron the books of the republic of
Venice performed every function and
Office of metallic coin, better than
ccins of metal ever had done or can
dc.
In fact, this s..-stem afforded to the
business men of Venice and finally of
the commercial world, the very con-
vcnience which we saw a while ago
is the sole benefit bank of de-
pcsit and exchange can confer-when
well paid for it; and this service the
government of Venice performed with
vast advantage tc itself, not only with
out expense to the people, but with
out the possibility of loss to them, ex-
cept in it's own complete overthrow.
Anyone looking with the eyes of
common sense can perceive that
through its operations in the Chamber
! Of Loans, the government of Venice
was simply exercising the taxing pow
er, by coming" its money" as a
means of anticipating the revenues OF
the republic for future years. Instead
} Of coming that money upon some pri.
vate favorite's gold and giving it to
him for nOthing-as has been the
} fraudulent habit in this country from
the foundation of the government-the
Venetian government coined" its
money" upon it's own books in the
Chamber of Los rs. and actually re.
ceived for the "coin" thus inscribed
the quantity of value ere expressed
In the metals, gold and silver. which
commodities the government in turI
exchanged for the services and ma
terials required in it's operations. Hat
the United States kept for its own us,
AL the gold and silver bullion brough
to it's mint and given in exchange pa
per certificates bearing the same pow
er that is stamped ON American Eagles
! ii. would have done the same as tn
i Venitians did.
This proceeding has been called
forced loan;" and the officials VIII
J OF ganized the system. not fully under
standing 1t themselves. appear to hav
, thought of it at first as such. for the
= named the agency for carrying 1t out
the Chamber o. Loans" and at frs
= allowed low rate of usury upon tn
] quantity Of value received. But
u possessed no element of loan. Their
was no more expectation of repayment
than there was in the case of tn
4 collection of the tax in kind upon cot
tor. and other articles in the souther
: states by the confederate states gov
9 ernment during the civil war in thi