Imperial Valley press., 1939-10-18
An Election Debate i'm Print
FOR AGAINST
By T. ID. MCCALL

private banking is a percentage game,
operated by remote control, with local
operators helpless to prevent such mani
pulation, instancing THE CRIME OF
l920-2l. We cite the evidence of Phil
d. Swing, NJ. C., before the house of rep
resentatives, May %, 1922:
81 WAS PRESENT AT A MEETING
OF BANKERS AT Ell CENTRO
NOV 1920 WHEN w A. DAY, DEPU-
TY GOVERNOR OF THE FEDERAL
RESERVE B INK TOLD THE
LOAN ANY FARMER ANY MONEY.
=. THE FEDERAL RESERVE BANK
DELIBERATELY NOT ONLY BROKE
THE MARKET BUT BROKE THE
FARMERS AS WELL"
They deliberately smashed Imperial
Valley flat-and flat We are today, and
there was nothing local bankers could
do about it and survive.
Simpson, president National Farmers
Union, in Washington, Jan. 1920, asked
Mr.. Williams Comptroller of the cur
rency), When is the deflation to begin?'
He answered me, =. May l, this year
told them Federal Reserve Board)
| that such course would break lots of
little country banks :. would ruin lots
. of farmers E. They cold-bloodedly re-
. piled, They ought to be ruined they are
getting so prosperous they won't work -
Charles A. Anderson (Mo), Congress
sional Record, July II, 1889, said,
1.-The Panic of 1921 was not mystery
it was a conspiracy, as are all other
pauics deep-laid criminal plot" (space
| forbids quoting more.)
If the fighting founders of our nation
fought a seven years war for the right
. to continue the issue of Continental
currency" based solely on credit, know
your Nations history before voting HAM
AND EGGS guilty Of purposing to fol-
. low in their footsteps When the found
ers wrote into our Constitution: "Con-
gress (alone) shall have the power to
coin money and regulate the value thre-
| Of, and of which Jefferson said: 'If
the American people ever allow private
bankers to control the issue of their
money i. their children will wake up
homeless on the continent their fathers
conquered" they knew from bitter eX-
. perience what they were doing. Private
banks do control the issue Of our money.
! All banks in America are privately own
ed banks regardless of their high-sound-
ing names. We borrow credit from
banks when there is no credit that is not
as personal as is human life. Credit is
that intangible thing that makes a man
man, or woman a Woman-and yet
private bankers are suffered to harvest
this ocean of human credit and call it
'bank credit when there is no such
thing-it is but a name like moonlight
1t is this unbeatable percentage game
operated by "an ever-narrowing circle"
that has impelled the trek Of Americans
ever westward-and still they come when
all should know there is no west" any,
more-and they pile up against the Paci-
fic. If the frontier could be extended
100 miles west. there would be no mi
grant problem, and the battle of ballots
Nov. would be deferred But there is
no west to flee into, and the force caus-
ing this flight must be met. There is no
master of this impelling force but the
mass movement of a people, movement
that cannot be strangled in committee of
Servile or sleeping Congress, and one no
President can veto. When the masses
are on the move, destiny is on the march.
The doctrine of fear is the doctrine of
serfdom, for FEAR is SERFDOM. 1t
is our right to provide state bank, to
use our own credit to ameliorate our dis
tress, taking nothing which belongs to
them from any persons or institutions,
leaving banking as is and using our own
credit for the sole purpose of backing
ne w AhRAN ., WHICH
are in effect State notes.
If our turbulent founders were justi-
fled in the issue of their Representative
currency" based solely on their credit,
that same right should be the proud her
itage of their children. The mechanics
of any measure are of minor Importance
compared to the spirit inherited from
! our fighting founders Machines and
measures always have been and always
will be improved with use experience,
; just as RETIREMENT WARRANTS
ACT can be and will be if found defec-
tive. However, as is, it compares favor
. ably with any measure our founding
fathers left for our guidance The evil
] dence of distress in California is engulf-
ing. 1t is everywhere before our eyes.
We witness the impact of fear-driven,
. homeless stream of Americans against
! an ocean, staring with vacant eyes into