The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1913-09-18

Will set the wheels of commerce in
motion. A new light and hope will
come to every heart. Not only in
this country, but in every country
the sun shines upon, the pople will
feel the unloosing of the chains of
interest, bonds and debt-slavery. A
great hope will fill every heart the
world over. Do not delude your
selves into the belief that because
every Administration and every Con-
gress, since the death of Lincoln, has
simply been the handmade and serv-
ant Of the money power, and the peo-
pie have acquiesced, that this condi-
ton will last forever.
The National Government has
been the great grainery that has fed
the banks for the past fifty years.
They own this nation and the full
ness thereof. For every railroad, all
means Of transportation, gas or cleo
trio light, for every Industrial enter
prise of whatever kind or nature, the
people must pay tribute to their cof-
fers. They practically own all the
gold, copper, iron, coal and minerals;
they hold bonds on the Nation,
States, cities, counties, and all pub
lie utilities; and the debts are many
times more than the actual value of
the properties. May | give you one
illustration:
Promoters come to New York to
have some industrial enterprise fl
nanced, which requires one million
dollars. The banker offers to finance
it as follows: Bond the proposition
for $1,250,000. Bankers take the
bonds at SOL, 100000; stock it for
$2,5O0,000. The bank takes 81 per
cent Of the stock. The promoter
gets credit in the bank for 81 ,O0O,-
600, which he can use by checks un-
der the present system of bank
credits. No money passes. The
bank draws interest on $1,25O,OOO
bonds and the banker and the pro-
moter receive dividends on $780,
600 stock, which the people must
aggregate Indebtedness So
100000 at six per cent annually
$225, 900. If the government were
honest and not owned by the banks,
it would wipe out the whole bank
ing system and lend money direct to
the people, at cost of lending. Sup
pose in this instance the government
loaned the million dollars at one per
cent, the industry would be charged
$4,000, instead of $225,OOO yearly.
This is no isolated case; all indus
tries are financed in this way. All
the wealth of the country is thus be-
ing transfrred to the few. Is there
any patriotism in the administration
Of our government? What excuse
can you give to this, and succeeding
generations, for maintaining a sys-
tenn that illegally and inhumanly
transfers the wealth created by la
Dor to band of brigands, while the
people struggle and starve on ac-
count of the misconduct of a recreant
government?
A system that forces every person
who wants money to go to a bank,
is a treacherous system. 1t is con-
stantly piling up debts that never
can and never should be paid. It
will average at least as much as the
illustration above, $3,75O,0OO for
every million of bank credit loaned;
and gives Shylock $4,000 interest,
instead of $4,000, if loaned by the
government. 1t is a sad common
tary on the ability and integrity of
our public men that Congress and
the National Administration legalizes
such a system of robbery as this.
Debts of all kinds, including stocks,
bonds and mortgages on real estate,
are more than two hundred billions
Of dollars, an unnecessary burden
which a recreant government has
imposed upon the people. The in
forest and 6iui6ondc To f,,1Ixy