The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-03-09

Controlled by Upwards of Fonr Hundrs
LII COUNTY, NORTH DAKOTA, III
4 it would only be worth approyimately
rs cents on THE so-called gold dollar
1 When the u. 3. has approximately al
/ the gold should the balance Of Til
world powers decide to establish rea
money, based on real property, gole
1 would be demonitized and the III. S
would find itself holding the bag re.
tanning ii our vaults a needless article
4 of commerce at most not worth to ex.
i coed So, 900, 900, 900 stamped ais $S ,O0O,.
4 O00, 600 for which we had paid iii real
/ commodities exchange to get posses.
/ sion Of the gold or four times its real
value. Under these conditions would
mot the old world be beating dis at our
own game and our purchasing power
would reduced by approximately $6,-
1000, 900, 900 or more, and America, the
| proud possessor of all the worlds
stock of gold, would be the bankrupt
nation. What are we going TO do?
Hord the gold and bring on world
crisis or put the gold in circulation in
European countries? Think Of it.
More than 4OO, 100000 people in
Europe III distress are starving and
no, ,O0O, 900 people IN the u. s. with
abundance Of products needed by these
people are oppressed and unable to
sell. They cannot buy and we cannot
sell and yet there is more gold avail
able than the world ever knew before.
Can it Be possible we are worshiping
the golden calf and as a nation we
well likewise pay the penalty of the
worshippers of the golden calf be-
cause. of the greed Of our @fnanciers
and short t-sighted vision of some Of
our statesmen ..
Since Governor Harding of the Fed
eral Reserve Board and Mr.. BENZ.
Strong, Governor Of the First Fed
eral Reserve Bank Of the United
States admitted before the joint COM
mittee of Congress on Agriculture
Emergency that the Banks of the Fed
eral Reserve System were corpora
tions organized for private gain and
not government institutions, it leaves
excess profits wide open to attacks by
Congress. sass.r-s
The American Banking Association
which represents the banking power of
the United States appears to be u.s.
ing its dominating influence over the
United States Chamber of Commerce
and the Industrial trusts of the coun-
try, lining them up to defeat the sol
diers' bonus or to put it upon the tax
payers who can least afford to pay
it. There certainly should be some
devised to keep the banks from gett-
ing away with the billions they have
plundered from the people during the
world war, and more than ever since
we realize the terrible poverty and
suffering Of the people as result of
this plundering. As the money mag
mates with their affiliated banks have
made practically all the profits out of
the war, they should be made to pay
the bonus to the soldiers who won the
war; An 80 per cent excess profit tax
applied to the increased assets, capi-
tai stock, surplus, dividends Of bank
ing corporations would more than take
care Of the bonus for the soldiers.
Mr.. J. Shelton Williams as Comp
troller of the Currency stated that
the banks have made more in the last
six years than in thirty years pre-
vious to the war. Would it not be
consistent for Congress to call upon
Secretary Mellon of the Treasury or
some other official competent to give
the information with regard to the
increase in the assets and the profits
of the Federal Reserve Banks and the
members of the Federal Reserve
| System since the beginning of the
European War down TO the present
time, also the approximate amount OF
profits so far as we. can ascertain OF
the international banks and trust COM
panies that are not members of the
Federal Reserve System for the same
period of time. We have known for
many years that the so-called ma
I,tional banks were corporations organ
lied for private gain, but now that
the heads Of the Federal Reserve
System have admitted that the Federal
Reserve Banks and the member banks
ARE not government institutions but
banking corporations, the friends OF
the bonus measure should take advant-
lages Of this opportunity and come
back at the American bankers associa-
tion and insist that we shall not be
more tender with our dollars than we
have been with our men The excess
profits Of every banking corporation
lin the United States should be subject
to this Excess Profits Tax.
We believe If a real investigation
were made it would show that the
/ investment bankers Of the financial
Icenters of this country have made
more than twenty billion dollars out d
this war IS shown BY their increase
III assets, capital stock, surplus, div
1idends and other profits which should
be taxed back into the Treasury
There ii no question "a to the banks
/ having made of profits during The wal
and they should be made to disgorge
NOTICE 10 THE CLUBS
The Executive Committee OF Thu
4 Women's Nonpartisan Clubs Will meet
1 III Fargo, on March 21st and 22nd
/ Matters pertaining % the Clubs vii