But look at it in another light. Suppose the security of the national bank notes were their own capital instead of the bonds, who would not prefer to trust the faith of the United States, rather than that of any individual in these times of Credit Mobilers, Tweed and whiskey rings? Then, again, why should individuals furnish the circulating medium of the people, when the people can furnish it themselves and save the expense? $1,000,000,000 is as small an amount of currency of all kinds as will transact the business of the country properly. Why should not the $60,000,000, which the people would have to pay the banks for interest on this, be paid to the Government for greenbacks? And more! Why should not all the interest that is now paid to individuals and banks for private loans, be paid to the Government? It is estimated that the average amount of private loans for the whole country is not less than $5,000,000,000 upon which, at even 6 per cent. interest, the people are taxed $300,000,000. Is there any valid reason why the Government should not loan this money and receive this interest? Yes, for if it did, the rich could not live in luxurious idleness, while the poor are obliged to labour twice the natural time to subsist the world. WHY DO THE PEOPLE PAY INTEREST? Or still again: why should the people pay any interest at all on loans from themselves? Why should not their agent—the Government—when amply secured, freely loan the people all the money that they want for use? Suppose that the farmers and the manufacturers did not have to pay interest on the money that they are compelled to have to produce their crops and goods? Don’t you see that they could compete successfully with the people of any country in the world, in the production of anything? Institute free money and there would be no necessity for a tariff for protection to keep out the cheaper goods of other nations. But on the contrary, this country would shortly be supplying other nations with the very things with which they are now supplying us and thereby crippling our manufactures and productions. Besides, all the people would be constantly employed, prices would be low, every comfort and even luxury abundant and in the reach of all, and thrift would replace stagnation everywhere. Plenty of money, plenty of work and plenty of everything that the ingenuity and strength of man can make, are the most favourable conditions for the masses; while just the reverse is true for the privileged classes. But why, since the former class outnumbers the latter, as five to one, do not the former have all things their own way in this country where the majority rule? Ask the masses this, and they can make no reply. But it is because the superior intelligence and tact of the minority enable them to concoct schemes by which, without seeming to do so, they reduce the majority to actual, though mostly unconscious