The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1913-08-07

L. Henry in Sundays Houston Post,
touching his amendments to the
Glass-Owen Currency Bill now pend
ing.
J. II. Cyclone" Davis addressed
the following letter to the people of
Texas hoping that every true Demo-
crat and patriot will urge the adop-
ton Of Mr.. Henrys amendments.
Henry's amendments leave to the
banks and commercial world the
present national bank circulation
running at present to perhaps six
hundred millions of dollars. 1t then
gives to the banking and commercial
world three hundred million asset
currency under this present measure
which will give to the banking peo-
pie nearly one billion of commercial
currency. This money is issued to
the creditor class. The bank cur
rency goes to those who are able to
make the government their debtor
holders-the asset currency is
issued upon the commercial paper
held by the banks-tbe individual
and corporation debts of the country
which the banks hold. This as Mr..
Henry says is purely creditors cur
rency giving this creditor class the
power to take the debts they hold
against the people to the government
and coin them into cash. Then draw
interest on the debts with one hand
and interest on the cash with the
other hand and the people foot the
bills both ways, and surely this class
ought not to complain because Mr.
Henry sees the palpable injustice of
this situation and proposes to issue
some Of our currency on the pro-
ductive industry and go to the COM
mon people the same as to the bank
er. When a government issues it's
currency on the productive industry
and development of country, it sets
a premium on Improvement and pro-
gress. When the currency is issued
on the debts Of the country it sets
premium on debt, distress and decay.
Mr.. Henry's amendments make one
Of the grandest money measures
ever presented, and places Mr.. Henry
along with Jefferson and Calhoun,
and with Napoleon BOnaparte who
was the crowned democrat of the
world, on the money question. Robt.
l.. Henry has very justly conceived
the idea that when the States gave
up their sovereign power to coin
money and issue currency and ceded
that power to the Federal Govern
ment, they did not expect to be for
hidden to have access to the minis
of the government upon equal terms
with all others and made helpless in
their internal development and
forced to depend upon the caprice,
cupidity and greed of a lot of bank
ers who stood between them and the
Federal Government which they had
armed with all power to coin and
issue money. And he is very modest
indeed in his amendments. For at
best there are not more than one
tenth of our population even remote
ly connected with banks, and yet un-
der the bill as amended by Mr. Hen
ry twO-thirds of the currency goes
to that small group and the other
nine tenths Of our people or S0,000,-
600 people must content themselves
with an issue of one third O. the
money as their share. Mr.. Henry
being a close thinker o broad and
thorough Democrat and patriot, re-
members that the last platform upon
which Bryan ran, said, arraigning
the Republican party: at has so
linked the country to Wall Street
that the sins of the spectators
are visited upon the whole people.
While refusing to rescue the wealth
producers from spoilation at the
hands of stock gamblers and specu-
latOTs in farm nrOducts If has de-