The independent. [volume] (Lincoln, Neb.) 1902-1907, 1905-04-13

CAhuCht 6isCS iSsscS y goO0 long way
In advance when 1t wants 1t returned.
As 1t is the peoples money and the
bank pays nothing for its use of course
1t lends 1t back to the people without
interest. Well, does it? Not as at
present advised. 1t lends this money
as it does its own and gets another
ten per cent on its capital-total to
date, fifty-two per cent per annum, or
in round numbers, say, five hundred
thousand dollars per annum. Out of
this comes expenses, say, twenty-five
thousand dollars to the president, ten
thousand dollars to the vice president,
and fifteen to twenty dollars per week
to the bOOkkeepers and clerks who are
often, in every mental and moral quail
ity, better men than the president or
vice president; also rent, taxes, and
losses, say, one hundred thousand dol
lars in all, leaving forty per cent clear
profit to be divided among the stock
holders when the president, who is
usually the largest stakeholder, again
comes in for a divide in addition to his
salary. This is large measure of
power, but these banks seek more.
They desire to issue all the money of
the nation, which would put into their
hands the power, by increasing or di-
minishing the volume of money in the
country, to make the price of every
mans property go up or down as might
suit the whim or schemes of said
banks. No; a national bank is ma
tional curse and should at once be
eliminated from our nations business
fabric!
Criticisms and remarks were,
1t is not the banker, it is not the
individual director or stakeholder that
should be condemned, it is the system.
The system is a special privilege to a
special class. Worse, it is giving a |
privilege to a special class who are
Ghundantly able to take care of their |
interests without having to be favored
as a national bank corporation. The
business Of banking is as legitimate as |
any other that stands on it's own bot |
tom, when it does not lean on the |
crutch OF special privilege Bjoernson,
the Norwegian author is right when |
he urges all civilized nations to enact |
a law providing punishment of bank |
ers whose money gives arms, ammu-
milton, coal or provisions to the bat
Ting.
Abolish all interest on money and
there will be no national banks, or any
other banks. Every man will be his
own banker.
The national banking system Of this
country is simply based upon the in
debtednesS of the nation. / do not be-
lieve that the banking fraternity OBJ
jected to the free coinage of silver SO
much in itself, as they did the under
lying thought that it would be factor
in decreasing the bonded indebtedness
OF the country-its business Spinal
chord" Reduce this debt, and you re-
duce the facility of getting a national
tank privilege.
Delmar shows in his history of mon
etary systems that to stamp a coin is
an act of sovereignty, and is usually
backed up by arms. To be free peo-
pie and have free competition,
money must not be controlled by
bankers, who are usually interested in
ether business interests and in COM
petition with other men who are not
bankers. The contraction and expan-
sion OF money means a change in the
basis OF existing contracts. This \
cnange is rODD1ng someone every La
time. What is to hinder combination +
of bankers creating this contraction s
or expansion, when they have the
power to issue money? That is, Gre E
ating bank currency, which all stu
dents now admit is the next step in .
this evolution Of bank control, which i
will force the banker to do business :
on his own hook.
Increase of primary money means =
more chance for the reduction of our +,
bonded debt
To be just to itself, people must h
control its own right to issue money.
To allow private individuals to issue
it, means a private control of money
a vast power, and one that can be, n
and history shows that it ever has q
been, welded disastrously for the ?
people, who must, unavoidably, be- y
come beholden thereto. y
Attention was called to the follow u
Ing planks in the platforms of 1910: a
Whig.-No platform.
Democratic oney-Resolved, That =
congress has no power to charter a !,
N.ited States hank and that wo ha -