Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1908-10-01


cate that said National Banking Sys-
tenn is the grandest thing the world
ever saw.
''What is your remedyr says our on
ponent. | will tell you. Let us have
no favorites in the line of money loan
ing If it is right to lend the present
banker money at per cent. on good
security, it is equally right and prop
er to lend the farmer money at the
same per cent. on good unincumbered
real estate, for it will be borne in
mind that land is source of all
wealth, without which the human
family could not exist. Loans should
not exceed one-half or one-third the
value of the security. If it is not
right to lend the farmer money at
per cent on his security, which it is
impossible to destroy by either fire or
tornado, it is equally improper to lend
money to the wealthy bondholder,
mainly because he is the fortunate
owner of said bond or bonds. AS u
simple act of equity, we repeat the
borrowed axiom, Equal rights to all
and special privileges to none. /" With
these rights secure, we should soon be
able to do business on a cash basis
(made possible by plenty of money!
and thus destroy the unnecessary cred
/ it system for the enrichment of the
banker, made certain by a scarcity of
money, which the money dealer in
/ sists upon all the time, solely for the
benefit of himself and his class. The
thinking man will be convinced by the
above argument; the unthinking man
would not be convinced Though one
rose from the dead"
The bullion price of silver, (40 or so
cents an ounce) does not destroy its
coinage value of 100 cents. AS money
the law establishes the money value in
a manner quite outside of the CONNER
cial value of the material employed. If
gold were demonetized the same as sill
yer has been, the bullion or CONNER
cial value of gold would fall precisely
as that of silver has fallen. The ex-
haustion of gold bullion by money de-
mand leaves no surplus to compete
with said demand and hence the mon
ey demand establishes the price in
coinage form. Demonetize both gold
and silver throughout the world and
their bullion value will probably de-
preciate IS per cent, because thence
forward only useful in the arts The
paper dollar, which will pay one dol
lar of debt, possesses less than one
cents worth of material value. Twen.
ty cents worth of copper bullion will
make one hundred cents worth of mon.
ey the cent therefore, possesses only
one-tifth of cent of uncoined materia
l11o re, &c III L,
bullion will make twenty scent piec
es, which gives only three-fourths of {
cents worth of raw material for eacl
scent coin. If this material value
idea be accepted, the cent or nicklt
should be put out of use because down
right robbery, and the paper dollar il
infinitely worse, because more thar
robbery. Its enormity would hardly
be expressed with burglary and pirac,
thrown in.
In point of fact, the material OF
!; which the government stamps its mon
ey authority, or the merchant fixes hi
signature, has not, and should no
, have, any connection with the lega
value of the individual note, or a sim
liar value expressed by the government
on paper copper, nickle, silver O
gold. The value is legal in ever,
case, and has no just or proper con
nection with value of material employ
ed.
To return to the 40 or 50-cent silve
dollar. The laborer or merchant, VIII,
takes coined silver dollar receives 10
| cents worth of legal value and can i'm
/ mediately pass it for similar value
: therefore to insinuate that he lose
anything in the transaction is tn