The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-08-17
For Governor--Dr. L. G. Hardman
How Our CURRENCY Bill Has Been
ButChered; State and City Bonds
OCdEnOugh For Security.
For The Banks But Not For the People.

Congress has recognized the value of the Currency
Bill introduced for by Congressman E. B. Lewis six
years ago. by recognizing the value of State County
and Municipal bonds security for currency issue But
the benefit of the issue is to be entirely for the benefit
of the National Banks. Our bill called for issuing
currency direct the States Counties or Cities issuing
and on tho same terms that the National Banks
secure their Notes The law in OperatIOn
through the grace OF the Democratic party and the
wide awake, well organized money interests allows the
issue Uf the enormous Of one billion and two hun
dred million dollars of Emergency currency tor the
benefit of the National banks on State County and
Municipal bonds. The security but to this
money the people will have to pay the usual per cent
paying interest to the bOndhOders and again paying in
terest the security to the banks If this secur
ty, which requires additional endorsement is good
enough for a credit for the banks, why are our great
Senators and Representatives of the People so adverse
to allowing the whole people the benefit of increased
seculatOn by direct issue money for State
County and Municipal Improvements. We contend
there better security but to make the people pay
II and IS per cent for the use of Government funds
per cent and five per cent the bOndkOder and per
cent to the banks is outrage the Amerc Public
The Bill introduced April 9Th. 1909.
To provide scientific money system.
Be enacted by the Senate and Representatives
of the United States of America Congress assembled That
the Secretary of the Treasury be- and hereby authorized
issue currency such denominations desired by app
cant, State county, municipality authorized this Act to
deposit their bonds with the Secretary of the Treasury
Sec That any State of the United States desiring to
make such public Improvements erecting public buildings
building public roads, and for the improvement of water
within the State. shall be authorized bonds
not to exceed of the taxable value of the
property within the State and which the Secretary of the
Treasury shall exchange for hereinafter provided
Sec That counties in any State desiring erect public
buildings school houses improve public roads are au
thorzed deposit bonds exceed per centum
of the taxable property said and receive currency
for hereinafter provided
Sec L. That municipalities desiring public buildings
schoohouses improve streets build sewerage systems are
authorized issue bonds for same exceed seven per
centum of the taxable of said municipalities and to
exchange them for currency herein provided.
Sec That in instance shall currency be issued on such
bonds W hen id municipality has been organized less
than years has less than five thousand population or
when the interest their present bonded Indebtedness has
been deauted within five years preceding such application
Sec g. That the interest such bonds shall be four per
centum and payable in gold silver coins semi annually
Sec That the Treasurer of the United States shall keen
sepee account of such transactions and when the inter
est accrued is equal the value of the bonds plus two
cenum he shall bonds and return
them to the authorise who issued them.
Sec. That all Acts parts of Acts not consistent with
the provisions of this Act are hereby repealed.