The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1913-09-18
THIS JEFF READER OFFERS
SOME SUGGESTIONS.

nave enjoyed your CRITICISMS OF
Rome, our Missionary graft, as well
as the two humbug reform currency
bills now being discussed in Con-
gress, thanking you for it all, l would
like to offer a remedy in the inter
est Of the common people, for the
banks also if you please, so in or
der to save the system, the banks
will have to close up shop like they
did in 1907 and offer us for cash
deposited the day before, clearing
house certificates instead.
| am convinced that all this ere
form currency movement came
from them, and that they are salts
fed with both measures for the rea-
son that the lied press" their press,
are all in line, and again on the other
hand | see no action reported from
the agricultural interests advocating
either bill, why this sudden solicitude
in our interest | ask? Let us see
Atlanta wants her own water light,
gas, and power plants, the county,
it's good roads and other internal
improvements, likewise the State of
Georgia, every other State, county,
and city in the United States is in
the same fix; let each be permitted
to vote non-interest paying bonds, to
run fifty years, these to be deposited
with the government as security for
legal tender notes, these bonds to be
funded by q tax Of two per cent an
nually. In order to not do any Vio-
lence to our credit we will say these
bonds shall not exceed 5 per cent
of the assessed valuation, (the same
law that now rules largely for the
issuance of interest bearing bonds,
whose value can be, and is manipu-
lated at WilD, l per cent of the taxa
BILE property as assessed would be
less than s per cent of the actual
value Of all the property of the coun-
try, or III other words, on that basis
you are taking my secured note with
out interest for fifty years to be paid
in installments of 2 per cent every
year until paid. Now let us see what
the security is behind the banks that
they should have the preference over
the government in any transaction
between the people and the govern
ment in the issuance Of our own mon
ely. The comptrollers report of June
goth, last year, says there was bill
lion, 1914 million, 500 thousand in
coin and other lawful money in the
United States, of this there was but
/ billion, 563 million, 500 thousand
in lawful money in the banks, yet
these same banks have on deposit II
billion, "a million, 67 thousand 606
dollars and 80 cents; no one denies
that these same banks are fiourishing
under a system of bank promises to
pay in the proportion of II IA dol
lars in promises to l IL of lawful
money to iquidate with.
Our plan would allow of an expan-
sion equal to 8 IL billions Of dol
lars, we will call good roads money"
if you please. Can we stand it? Will
the money power cry rags, imitation,
green-back craze, &c. Let US bark
back to the period when our per capt.
ia circulation was increased from
$24 to $36, which was less than one
third of the commercial transactions
of the United States and which i'm
mediately increased over 500 per cent
in consequence. Our population then
was nearly GO millions; at the expira-
ton of the proposed Improvement
bonds our population will be 800 mill
lions, and taking the banner year of
1913 as a guide that did an IS bill
lion dollar business, We will need
more than twice that increase twenty
years hence, at least billions would
be necessary to give our currency
ample elasticity.
In conclusion it seems to me I
would rather give q note for bor-
rOWed money that bears no interest