The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-08-31
DR.. I. LADDls !.
!. 4. WEEKLY LETTER

Il. =..% HILlMl AIlu
The Golden Calf, Shall We Continue
%% to Worship it? So 4
No greater swindle has ever been
placed upon our American people than
the present financial end banking
system Of this country. The possibili-
ties for good are great but the oppor-
tunities for abuses are greater and
have been worked to the full limit by
the administration of the banking
laws. by selfish and privileged inter-
ests. In 1861 the patriotic fnar.ciers
located on Wall Street as at present
rendered loans to the government at
"a to 36 per cent interest at a time
when our country was fighting for ex-
istence. They succeeded III placing an
exception clause on greenbacks and as
the result these greenbacks were de-
preciated IS percent in value. It was
then they, the Wall Street patriots,
arranged 50 that these same green
backs now largely in their possession
which they caused to bejs deprecated
could by themselves be- exchanged for
United States bonds at their face
value. In 1866 they secured the pass
age of law whereby they caused to
be destroyed by incarceration between
1867 and 1878 nearly $500, 100000 of
these greenbacks. There was thus re-
tired and burned by the Government
at the instigation of the bankers this
large sum of useful and heretobefore
legal money. This brought ON the
panic of 1873 and with the demon
stration of silver brought ruin to mill
lions of our people and some were
brought to destitution and even to
beggary. This again the result of
worshipping the golden calf. Your
attention has been kept focused on a
false issue to divert your attention
from the real facts aid the bankers
swindle perpetrated for the past so
years. All this has eliminated in the
crowning infamy of the worlds great
est practical financial system known
as the Federal Reserve Bank which is
being operated by bankers in the in
terest of the privileged bankers and
Wall Street financiers together with
small group of so-called international
bankers-m reality gold monopolists.
By what divine authority was gold
made and crowned as the one COM
modify to serve the money function?
Even the great Babson, the reputed
spokesman of bankers aid money lem
ders, has recently said: money is a
commodity the same as cotton, wool,
lumber and copper. Most gladly ad-
mitted. Then, why. continue to wor-
ship the golden calf a monstrosity
thrust upon the people for the benefit.
of this same PRIVILEGED group. = @ss7
But let us see about the golden calf
and whether the bankers can or will
exchange it for your paper ard silver
There are nine leading nations on the
gold standard which owe $257, ,0OO,-
600, 900 payable in gold. 1t is claimed
that this is 20 times as much gold as
there is in the whole world. 1t is 81
times as much as there is of coined
gola. These same nine nations have
promised to pay their debt both prin-
cipal and interest il. gold. Can they 90
it? Did they ever intend to? The
United States gold debt is placed at
about $23, TBS, ,900,084. The annual in
terest on this amounts to $1,017 ,5OO,-
600. This interest is all payable in
gold. The worlds production. Of gold
in 1920 is placed at approximately
365, 1885, ,796. In other words, the
worlds total amount of gold produc- |
ton would pay only about one-third
of the United States annual interest
payment. In 1920 the United States
was reported to have produced OF gold
about $51 1,186, 900 or about one-twen-
tieth Of the amount required to pay the
United States annual charge and no.
thing with which to pay the principal
This does not include the interest
charges or Indebtedness of the SUBJ
divisions of the United States or Of
private individuals, all of which is
ultimately payable in gold, COM
modify now in the hands of the priv
ileged few, largely the group Of so-
called international bankers or gold
monopolists. There will be no free
dom from the panics devised by. the
great bankers and financiers so long /
as we continue to worship the golden
calf In the form of our present wicked
and practical banking and financial
system now fully under the control of |
special privilege with headquarters On
Wall Street affiliated with the inter
national bankers and hoarders Of gold
to be manipulated for the benefit of q /
special class. s; 4 .N s5...s
Bear in mind that am not criticiz-
ing the small bankers on the banking
fraternity as such but rather that
group of financiers and bankers who
have ID practice throttled industries
and the property OF the producers Oft /
this country No one knows better
than the average small bankers the