The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1904-04-09

tons as you are to your thousands" de
elared Colonel Monroe warmly. They
are the originators Of the new high
Gnanee.' and II there Is any credit due
to those who master the art Of accumu-
hating money their genius and achieve
ments are superb. Ii was an amazing
" simple operation. but wonderful new
artheless. The trusts swallowed the
small industries. and then the banks
swallowed the trusts. The nrst step
was a dificulr one; the latter was ae-
eoInphshed with comparative ease.
There was no deep laid conspiracy. as
many assert and others suspect These
men did not establish the banking sys-
TEN They simply took the advantage
u conditions as they found them. Their
predecessors did not know enough 10
take legal advantage Of the stupendous
opportunities at their command They
Gid not realize the possibilities for fab
ulous wealth in banks Of deposit They
were money merchants. conducting their
business on old established lines. They
paid interest on their deposits and aim
ed 10 make their profits by lending their
own money. as well as that Of their de
positors, 10 borrowers who paid more
interest than the depositors received
OF course the original banks OF cen
fury or more ago had no depOsitors.
The owners Of the bank furnished all
Of the capital and assumed all OF the
risks Those were indecent Old chaps.
those ancient bankers. | wonder what
they would think OF this era in finance,
when a syndicate Of bankers is able to
persuade the national treasury 10 de-
posit with them Sl5OOOO.OOO, on which
the holders pay not one cent OF inter
est"
You have not heard that the gov
eminent has deposited any Of It's sur
plus funds in my bank. have you"
asked Judge Sawyer, with a quiet
smile.
But you are not up on high hnance'
and do not count" returned the colo
mel The government would not dare
lend you enough with which TO buy a
railroad. You could not furnish the
security. But the government follows
the same policy as do most private de-
positors in this matter OF course II
any individual were 50 fortunate as to
have $1jO0OO.OOO In cash be would
start a bank OF his own II be had an
ambition for more. but we are assured
that the government has no night 70 20
Into the banking business. Like the
humblest merchant. il must hand over
all Of Its ready cash TO the banks and
not draw It out except on the most
/ urgent emergency for fear OF interior
ing with the operations Of the banks.
! DO exaggerate the case, Judge Saw
I yerY'
Not In the least" replied the other,
"but you know that I am and always
have been opposed to the favoritism ex-
tended 10 certain banks. do not think
that the government has a right to de-
pOsit Its money In banks, certainly
not without demanding and exactlng
the highest prevailing rates Of inter.
EST"
But private depOsitors do the same
thing In most instances" persisted
Colonel Monroe. Il have 5000 on 10
posit in your bank this very moment.
and you are not paying me any inte--
est on II. do not believe that in
terest is paid on one dollar in ten on
deposit in the banks Of this country"
Probably not" admitted Judge Saw
yer. 1t Is impractical to pay interest
on small deposits"
Impractical. Is it?' laughed Colonel
Monroe. We'll. notice that II r.
not considered impractical that these
small depOs.tors have handed over the
counters Of our banks a total which,
according to official statements. now
almost reaches the Incredible amount
II SlO0OOOOO.OOO, every dollar Of which
Il due TO them on demand. And this
vast sum has been so thoroughly in
vested In trusts and railroad combina
tons that the banks complain when
called on to furnish enough money to
move a corn or wheat crop.
7 I'VE claim 10 be sane. and what do
we DOR continued Colonel Monroe.
Our workingmen deny Themselves
comforts In order to save a few dol
lars which they deposit In a savings
bank. They receive nominal rate Of
Interest, and in case too many de
positors do not ask for their savings
az one time they have a fair chance
10 get their money out. In every civ
iiized country on the face Of the globe
but this one the work man and woman
have the privilege Of depositing savings
with their government in what are
known as postal savings banks. Here
we force this money into private
hands. In the same way we force ey
cry man who wishes to do business to
teep his funds In a bank In recent
'ears the great life insurance compo.
1ieS became competitors with the
banks In this securing Of the country
Tor scattered dollars. Now they are
allied with the banks Thus from tens
OF Thousands Of streams every snare
dollar Of money flows into the huge
New York reservoir. The banks owe ia
nVe times ns much money ns ever was
Issued By tie United States govern
ment; but, bless you. we would NOT
~ a. T.. q