The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-02-04

sion are the agents TO work the scheme.
or a similar one, through congress. But
this important question? The popula-
ton OF the United States is given at
about $1,000. 900: The nations wealth is
estimated at SI20, 600. 600. 900,
The public and private debts Of all
kinds. including bank deposits, bonds,
and mortgages, are at least $50 900 oVO,-
Is claimed TO be from $4,000, 600. 900 to
SO, i00. 900. 600, not over two-thirds of this
money being in circulation and only part
legal tender. the rest being boarded UP
and held In reserve banks This is the
financial basis on which our large popu-
lation. scattered over great extent OF
territory. have to do business with, make
their exchanges. pay debts. taxes. Inter
est and carry on the industries of the
nation.
Oar country is overfowing with natural
resources, the land Is producing bounti-
ful harvests our means OF production In
manufactures and the various indus
tries are the greatest of any nation on
earth. to provide in abundance tho neccs-
stiles and comforts OF life for our large
population, yet with all of these resources
at our command there is general de-
preston In business and commercial en-
tcrpriscs.
Pay Too Much Interest.
Under our present system of govern
sity. Law requires the people 10 pay
their debts, taxes and make their eX-
changes with money. The increase OF
wealth in our country from all OF the
various sources is estimated at two and
a half billions OF dollars yearly. and the
American people are forced by their ne
cessities 10 pay one-half 10 two-thirds
of this amount in interest for the use of
money 10 do business with.
Most every industrial enterprise and
improvement in the country Is bonded
and mortgased to the full extent, pay
ing interest in many cases more than the
earnings.
This accounts in part for the rapid
concentration OF the wealth and the busi-
ness failures throughout the nation. How
can industrial enterprises and business
men succeed when they have TO pay
to 10 per cent interest per dnnum Tor
the use OF money in their business. when
the average yearly increase OF wealth IN
the nation is only about u per cent? So
long as our financial system favors the
men who deal in dollars instead OF the
men who create wealth failures VIII con-
tinue and the people suffer
Now, what are the generally accented
facts in regard to money? 1t is a tool
of trade, a medium to exchange the
products of labor, pay debts and taxes.
Blames Both Parties.
Money is not wealth of itself and never
was intended TO control wealth as now.
but TO exchange wealth. which. In part
is food, clothing. shelter and such things
happiness Of the human family. When
money is exchanged for any Of these pur-
poses il is redeemed and needs no FUR
thcr redemption. Under our present con-
tracted financial system money has been
exalted over property and made the mas
ter instead OF the servant OF the people
The money power is the FOUNDATION OF
all other trusts and monopoies That op,
press the people. and neither OF the old
political parties has the courage TO
tackle the money. trust, and give the peo-
government money. They are continually
over the effects OF the.
trusts. instead of going. to the root OF
the evil and removing the cause.
The lowering of the tariff and seek
ing 10 control the trusts and monopolics
that now govern the. great industries
of The country. VIII give no substantial i1lta
ing. and control Of the nations money
Is in the hands OF private corporations
to expand and contract as may suit their
selfish interests.
Says Law Makes Money.
The coinage and issuing of money IS
money, and the 120 billions of wealth in
tho country is the credit on which it
can be issued If needed. All money is
should be full legal tender and inter-
changeabe ANY money Issued by a gov
ernment and put In circula ton. to be
Il fraud on the people, and in the in
terest of usury. The power that can
make one Kind of money legal can make
all good. Industrial and wealth pro-
ducers want government money: many
OF them prefer gold and silver coins.
others want treasury notes: Let all be
issued In sufficient quantity 10 meet
their demands and eXalt labor and lower
interest.
DO the American people realize that
the power TO coin and issue money was
conferred on congress by the original
thirteen British colonies that formed the
union of states? These colonies previous
10 the American Revolution claimed the
right, and many of them did coin and
Issue money for their respective COL
oDies. but after they had gained their
independence. and the constitution was
this power 10 congress, representing the
union of states. to coin and issue money.
that there might be uniform money
for all Of the states in the union.
Should Not Delegate Power.
Congress being agent and having
accepted the trust cannot legally ALLEVIATE
or confer this power on private corpora
tons or associations of banks without
the expressed consent OF the people. II
congress cannot carry out the trust i'm
the interest of all the people. it should
give up and return this authority TO the
respective states of the union that they
may coin and issue the money.
1t is we'll known that whenever the
circulation OF money in the country Is
contracted; business depression exists.
CRIME ana ldlIureS increase ana the
baneful influence is directly manifested
in the election OF the peoples representa-
tves for public office; but when the re-
verse conditions exist and there is
plentiful supply of money in circulation,
then prosperity attends the industries
OF the country, labor is employed and
business failures and crimes decrease.
That our financial system needs chang
Ing. all Will agree. and that can be done
by the government without loaning it's
credit (and without the private assis-
tance Of corporations) by dissolving
partnership with national banks dis
carding the use of their money. and as
suming the full control of coming and
issuing full legal tender money in suf-
fcicnt amount To meet the business de-
mands of all the people.
With this statement OF our financial
condition and of the influence and power
that money exercises. Will the American
people quietly submit. and allow their
government to surrender its sovereign
right TO coin and issue legal tender
money 10 any combination of banks or
private corporations organized under
the proposed Aldrich currency bill and
loan the revenues and credit of the gov
crnment to anyone. to issue currency
which supplants tho people's money? II
our government allows itself 10 be fur
.f.,...l