Show an interesting opinion on GOLD G 0 L D ilow how many times wo we havo have seen sean our domesticated animals selza de lecta blo morsels from tho the bills or mouths of their follow fellow creatures and run about trying to find BJ place to hide or consume it unmolested for tho the past several daveral months but more especially the past several weeks creatures of our own hind havo have aped tho the habits of our domesticated friends and with devotion to gold converted their bank deposits into gold coin or sold gold certificates and sought somo some eater place to hoard it what a national disaster these acts of 0 fearrand fear and greed were bring brine ing upon the whole nation when congress told the hoarders boarders hoar ders to redeposit the nations gold in III tl the lo 10 banks under penalty tile the small depositors were not the only persons suffering buffering with gold fetish complexes gold cold raids by some gome ot of the very unscrupulous money changers primarily responsible spon for the depression wore were pulling down some of our strongest banks and with groups front from a broad threatened to destroy our national credit foundation whatever might have beon been the motives of profit of certain un scrupulous money changers in de straying ying our national credit by converting their deposits into gold those not a party to such acts acta who exchanged their paper money for gold stood to lose in the aggregate hundreds of millions of dollars more in their depreciated property values than the value of their gold gold cold has hag ceased to bo be a thing to be personally possessed but rather Bom something ething to be collectively or nationally owned and used as aa a fluid foundation of national credit as welt well as ag tho the basis for do determining of other commodities money gold and credit are almost Interchange bale terms they serve both a 0 social and an individual use gold cold as aa the unit measurer of money and credit serves both social and individual uses money based on oil gold both uses uaea even the old greenback currency which came into existence during the civil war as aa uncle sams IOU 10 U la Is now backed by in gold bank credit and all other kinds of credit have a gold base ba se for the reason that credit to la satisfied only in terms ot money which in turn lg Is backed by gold credit too serves both a social and an individual use money to a bank Is one thing and to an individual user quite another thing the sound commer cial bank uses it as a legal reserve to back up its credit loans loang to Us its borrowers borr owera the individual uses it for living or other purposes for every cash dollar which some banks have on deposit or own as a surplus or as aa capital stock they loan as ag much as tn ten dolln iri 16 the form of cro brodl di which they put to the account of their borrowers the bank merely loans its ita credit backed by varying reserves and supported by the borrowers securities for which it obtains a stated rate of interest these credits to tile the borrowers accounts ar not so much cash deposits though they appear so BO on bank statements sonia some banks because they are more cautious than others and be cause they are required by law to do soman tain larger 10 per cut of thir craft loans but po ino matter how largo large a legal reserve a bank carries against its credit loans it can bo be destroyed b runs which sweep away thesus the support of its credit structure clure to borro borrowers it Is thus seen aaen that there exists a social duty it if not a high moral duty upon tile the part of banks to maintain re reserves tar far above the normal dally daily cash withdrawals and an equally social and moral duty on oil the part of cash depositors to support their banks by keeping their heads and steadfastly refusing t a make mahe ma he a run on their banks lbanks reserves at best only a 8 comparative tow can obtain their deposits during a run and those who do destroy tho the fortunes of others with no credit to their own wisdom or social modern economic econ mic life jitni j ians us together in our sai and f failures as nayor before in id the history of tho the world and our greatest obligations are to the co common mallon good if the last tow few years have not taught us that they have nut not taught us tie anything the common ort of it all would appear to point to the futility of trying to run the affairs of mankind purely on tho lic old individualistic basia it is boia boi A that tho the past will also ho profitable to the extent of resulting in the establishment of a banking system which will atford afford greater protection to those who deposit actual money in banks for savings interest and checking accommodations and to those patrons who borrow the bank s credit based on such actual mone money y deposits many are of the conviction that the present gold basis should be supported by silver on some fair ratio value it la Is evident they contend that the magle magic powers of gold are proving anything but assuring our present of gold Is 1 not enough substructure to support lu in currency which la Is presumed to be the reserve for about of dep wits moy assert tile adoption of silver on a co basis with gold they contend will materially strengthen our whole financial fabric as well as make the country more prosperous pros percus tile tho gold standard advocates hold field that a gold silver standard will neither strengthen our financial system nor increase prosperity they say that if it la Is more money or less money that lg Is needed the tha banks banaka can expand or contract tho currency to suit the condition the advocates of tile the double standard assert that such power an tile tha control of banks Is danger oua DUs and vicious and all the more so BO with but one precious metal as the foundation of our credit ex |