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Show It Would Work Like a Charm. If a prudent and sagacious man or company starts a bank with $100,000 paid up capital, he or it is liable to receive ten or twenty times the amount of the capital in deposit, except the reserve re-serve which the law says such an Institution must keep on hand, the bank may loan not only all its original capital, but a great proportion or the deposits. Behind this is the original capital, the loans which may be supposed to be good andStlie characters of the managers. Well, there is a vast aggregate of gold in the United States treasury. True most of it stands for specific uses, but it Js there. Suppose, first, the government were to re-monetize re-monetize silver, add to the coinage, the old gold $2.50 piece; then call in all paper under the denomination de-nomination of $5, and issue, to meet current expenses, ex-penses, greenbacks and silver certificates up to the amount that the gold and the silver in the treasury, treas-ury, would be full guarantee for, reckoned as banks and great financial Institutions reckon, what would be in the way of success? When the banks in the poimtry would need more money, to move the cropfe or stand off a scare, send them as many greenbacks as they could give ample security for, a board of experts in every state to pass upon the securities, make a law compelling all institutions that receive deposits depos-its from the people, to submit to tho same super-vlllianco super-vlllianco that national banks now havo to. and then loan to private banks as well as national banks, in emergencies. Under such a system the government would probably issue ono thousand thou-sand millions, perhaps two thousand millions, so that it would always have on hand large amounts to meet any emergencies that might arise. The lovely feature of this would bo that it would involve in-volve tho paying of no interest by the people, in order to create funds which, if they borrowed any part of such funds, they would havo to pay a second interest on. National banks wore devised as a moans through which, in tho stress of an awful war, the government could sell its bonds. They have served a splendid purpose, they are doing so still. Because of them and of tho greenbacks the old uncertain wild-cat state banks went out of use, which was in Itself a mighty boon to tho country. Wo would not interfere with them now, but after all they do not begin to do the business of tho country. And wo would havo peoifo remember that for years tho country ran upon a paper money behind which was nothing but faith in our republic. And during those years, though the mightiest war of modern times was raging, tho country prospered exceedingly. The first trouble came when the government unwisely called in so much of this paper that the volume of nomey was so shrunken that men could not obtain money to meet their obligations. In the same year the thieves in congress con-gress succeeded by stealth in demonetizing silver, and then as a. rule imbecility in finance was the" rule for twenty years. Hence we say, get back to gold and silver, but let non-interest-bearing paper serve tho outside uses of money, except for change. I H And issuo enough to put the- needed public J H works in motion on a comprehensive scale mid f H do it at once at least $600,000,000 worth. H Stay the floods and conserve their water, drain T HI swamp-land, make the coasts secure with fortiflea- El tlons, reduce to control the -great rivers and Kfl make them commerce carriers -aiso the gifts that I mm God has given to give the poor work and to utilize j and make available tho now-crippled resources I Wffl of the republic. n |