The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1912-02-07
vox poPULI.
SCHEME IS TO ROB THE
UNITED STATES TREASURY

Editor Penss cola Journal.
private bank under the name of
the National Reserve Association
seeks fifty-year charter; the eratu-
ltops services of congress. the presi
dept. the secretary of the treasury', the
secretary of agriculture, the secretary
OF commerce and labor, the comp
uoller OF the currency and the use of
all the public money without interest
to be withdrawn from the treasury
and handed over to them, to help them
do what cannot be done.
The entire. scheme is to rob the
treasury of the United States.
We commend Speaker Clark for his
determination to subject the scheme
to careful study and nat to move
hastily. I offer this contribution to
that study.
If the marble heart of America,
sometimes called the money power
can secure the passage of this scheme
1t Will be the greatest triumph they
have ever secured in this nation and
will give congress a blacker eye than
did the so-called criminal act of Feb
20. 1873, which demoralized silver and
changed the unit of value from
piece of silver to piece OF gold.
more than doubling the value of all
outstanding debts.
Banks are a necessity. There should
| be no enmity AGAINST banks and bank
ers. 1t is a legitimate business, but
| the bank note is illegitimate.
All the banks in the United States
combined never have and never can
make so much as one lawful dollar.
There is only one power in these
United States that can do that. 1t IS
congress. The banks have tried to do
it and failed. / do not blame the
hanks for doing the best they could
when the power authorized to make
| failed to do so. The people cannot do
| business without the use of money and
| If congress with full power will not
supply lawful money and regulate the
| value thereof the next best thing to
nothing is the promise of bank The
| banks have done better for the people
| than congress has.
The National Reserve Association is
willing and anxious to induce con
gress to make their promises which
| they want to circulate as money so
| good they will never hate to pay the
| actual money promised at all, a per-
| petual renewable bank note.
The National Reserve Associa ton
| builds its foundation upon bank
note-a bill of credit, for the use and
| benefit of the bank
A bank note violates the science Of
money, is unconstitutional and void
and robs the treasury of the United
/ States.
! The government legal tender power
| paper money is not only in perfect ac-
cord with the science of money, but ii
| is constitutional and valid, has been
sustained by the supreme court and
Ills rather than robs the treasury 81
the United States.
The most material difference be-
| tween the two systems is stated in
these two propositions.
Congress Is to blame. am not at
| taGxing the integrity or intelligence OF
congress. but I am attacking their
monetary education. Their belie.s
their Anticipated ideas, their blindness
their weakness.
/ Congress has failed to comprehend
the high duties of their office, tHe
| PLAIN command Of the constitution and
| their oaths of Office as TO money eve1
since the power was conferred upon
| them to- make money.
Congress shall have power" 1'aere
| is nc credit there. There is no ask
ing for permission. 1t says: "Con-
| gress shall have power"
Power to do what2 ITO coir
money" That is: to make money
ITO COIN is verb. There is no ma
terial of any kind in it. 1t is an act
| To make money is an act within the
| power of congress.
Who for? The National Reserve
Association" wants them to make il
for their use and benefit. They no.
only want what power congress has
over money to be turned over to ther
for fifty years. but they want all tht
money collected by taxation and this
4 sale of the public lands to be takeT
from the United States treasury and
turned over to this private bank, with.
out interest.
The people don't want congress Il
do that. They want CONGRESS- to cs'
every power they have under the con
stitution to make money for hem
that includes all the banks and every
body else. And the people underSta-
that making money and paying it int
the treasury OF the United States