The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1904-10-08

would resent from an outsider.
THE $4,000 which the United States
treasury placed ON deposit with your
bank and on which you pay no inter
est," answered Colonel Monroe II
should like to borrow a quarter of it
from you on the same terms"
Il would be pleased to accommodate
you, colonel, but it would hardly be
business said Judge Sawyer You
seem to be very much concerned about
that government deposit in my bank II
will be treated as are all other deposits
Borrowers can obtain IL by furnishing
approved securities and by paying the
prevailing rates OF interest. Are there
any other questions you desire answer.
ed ~
Lots OF them, judge; lots Of them
returned Colonel Monroe This free
distribution OF the nations wealth by
Its treasury department fairly bristles
with interrogation points from my
viewpoint. But do not imagine that
l censure you Tor accepting $4,000 Of
this free cash. Next 10 myself. | would
sooner see you get it than any one
know OF. IL means, on the face Of Il.
5000 a year clear profit to YOU
This free distribution OF cash. as you
call 1t, is better thing for the country
than II Is for the bankers" declared
Judge Sawyer The revenues of the
government are so large that vast
sums OF money are piled up in the ma
donal treasury and withheld from cir
culatiOn. There Is now at the com
mand Of the national government more
than S4JO,OO0, 900 in cash. To hoard
all OF this in Washington would pre-
elpitate a crisis and a panic II IS for
this reason, and for no other. that the
treasurer OF the United States selects
certain banks as places Of deposit
These banks deposit government bonds
with the government as security for
the money turned over TO them There
Is not the slightest chance that the
government win lose a dollar Of the
money thus deposited
For a genuine humoriSt give me a
banker" remarked Colonel Monroe
None but members OF your craft coHld
keep a straight face while making such
q statement Here Is the straight Eng
hsh of it, Money commands interest in
every part OF the civilized globe ut all
times and In ali circumstances, with
the single exception Of when il hap
pens to be lodged in the treasury ~
the United States. The interest rate
Is roughly liked by the law Of supply
and demand or by the necessities 81 tie
hlgR sfYa -
session OF money guarantees its holder
an income. Money therefore, is the
best form Of property in the world
What has happened: The people haFo
been taxed 90 heavily on the necessi. (
ties and ordinary comforts Of life that
= surplus has piled up in the ngtiona
treasury. Every dollar Of 1t represents
some form uf taxation Every cent ~
IL Is the peoples money. Tie govern
ment owes a billion and p half, on
which it IS paying interest Can it pay
of part OF this debit Bless your
heart. that Is against the rules The
government can 90 into debt but ii
must not get out Of 1t. Here IS this
unfortunate government with 100000. .
900 or more Of cash What shaIl it do
with Il? II IS not permitted % pay its
honest debts. II has an asset which in
other hands would have an income pro
ducing value Of from Sl6OO000O to .
S20,0OO,0OO year.
Now, mark you continued Colonel
Monroe, this il one Of the greatest
governments on the face OF the glOt,e .
II is a most stupendOus organization /.
II employs hundreds Of thousands Of
men. When but a pygmy compared
with its present self it WithstOOd the
greatest civil war which ever was
waged since history was recorded In .
this time OF distress the banks came TO .
the rescue. How BY lending money
to the government at ii round rate Of
interest. True, the greenback did ia
part, but the men Of money had faith
In the government, as the size Of the .
national debt will show. For every
dollar thus advanced the government
bound itself to pay interest. But forty
years pass away. and this govern
ment finds itself with a vast fund Of .
money In It's vaults Here Is crisis .
indeed! What shall be dOnef Pay il .
back to the people who have paid IN.
necessary taxes7 Perish the thought,
1T would Immediately occur to a
business man or even to a newaiiOy .
that the logical thing TO do with Idle /.
money IL 10 lend II Mt the highest pos. /
hible rate Of interest. In all the history (
OF its career the government has been
paying interest. Now IT has n chance !
to exact interest. It * straight bust.
ness proposition. What does this great
government dor 1t deposits these mil /
lions In national banks and does NOT
exact from then 4 cent Of interest II