The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1913-07-03
Currency Reform

not bankers, are OF the same
opinion The Pujo committee found
that there was a bank trust Ia fact
known to every man not in the
asylum, and We imagine, even to
some who are), and that there was
a necessity for currency reform.
Therefore everybody has agreed
upon the necessity for reform in this
matter.
But the great and oyershadoWing
consideration is, Or should be: In
whose interest is to be the reform?
Is the reform to be in the interest
OF the people or in the interest OF the
bankers?
Is the reform to provide an elastic
currency so that it may Dc decreased
when the bankers and stock jobbers
wish to depress the market, ana in
crease the value of their notes and
bonds, measured by other property;
or TO Increase the currency when
they wish to raise, or, as it is termed,
"Dull the market?'
1'E8: is the question. And it is
notorious that reformation of the
currency, according to the national
bankers, means to put the entire
money power Of this country more
securely in their hands; to allow
them TO expand and contract the cur
rency, as will promote their interest,
an? thus give to them more effect
u1lly the control Of the values Of all
the property in the United States.
One Of their number, Mr.. Georg w.
Reynolds, Of Chicago, testified before
the committee that there was
money trust. and that he believed it
lay 'in the hands OF a dozen men,"
Of whom he is one. Now they want
a more complete trust-one not in
violation OF law but one sanctioned
by law. This the Aldrich PROPOSE
tion proposed to give them. And
this from the newspaper account,
the proposition Of Senator Gore,
more effectively gives them. We I'M
derstand he is a blind man. But
even a blind man should be able to
see (if he is honest andWants to see;
though We have the scriptures for
saying there is no man so blind as
one who vii not see) that his meas
ure proposes to turn the people Of
his State, and every other State, over
to national banking trust. We say
his measure" But we do not be-
lieve he originated it for we feel
quite confident that the same powers
that originated the Aldrich measure
originated this. In fact we think
they are twins.
1t is amusing even to see how hO1-
low prctenseS, in politics are in the
course Of time, exposed. When the
Grecnbackers, and afterwards the
PopUlists, said that the national
banking system was unsound, that it
should be reformed, the same in
fuence that now agree with this view
said that the Greenbackers were
cranks and should be in an asylum,
and that the PopulistS were not
only crankS, but were anarchists and
should be in prison. The system then
was all right; now they say it is all
wrong.
From cOmon sense standpoint
what q farce was the Pujo investiga-
ton. Every sane man knew before
the investigation that there was a
money trust; every man knew the
same thing afterwards, and he knew
no more. Every sane man knows,
and every honest man will state, that
as long as the system of national
banks exists there will be a money
trust. This result is inevitable from
the system. All our statesmen (not
Federalists and Whigs) said so JEFF
fersOn SO said in 1891, when the first
bank was chartered. Jackson de-
clared the system to be such and he
eXterminated it. They were created
during the war and as a war meas