Seventeen Talks on the Banking Question: Between Uncle Sam and Mr. Farmer, Mr. Banker, Mr. Lawyer, Mr. Laboringman, Mr. Merchant, Mr. ManufacturerFowler, Charles N. (Charles Newell)
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Seventeen Talks on the Banking Question: Between Uncle Sam and Mr. Farmer, Mr. Banker, Mr. Lawyer, Mr. Laboringman, Mr. Merchant, Mr. Manufacturer
Fowler, Charles N. (Charles Newell)
Banks and banking -- United States; Currency question -- United States
You gentlemen will remember that the National Government was given
jurisdiction of the Postal Savings Banks under these words which it was
understood at the time were written by the President: "Sixty-five per
cent of the deposits could remain with the banks as a working balance,
and also a fund which may be withdrawn for investment in bonds or
other securities of the United States, but only by direction of the
President, and only when in his judgment 'the general welfare' and the
interests of the United States so require." Similar words could be
used with regard to a per cent of the surplus of the banks, and if the
one was tenable, certainly the other would be especially so, since the
latter involves seventeen billion of individual deposits, of which six
billion four hundred and eighty million ($6,480,000,000) are savings
deposits. Again Article I, Section 8 of the Constitution, empowers
Congress "to regulate commerce with foreign nations and among the
several states and with Indian tribes."
Upon this clause of the Constitution rests the Anti-Trust Law. What
have we not done under this clause of the Constitution and the general
welfare clause?
We have passed the Food and Drugs Act, giving the Government power to
stop the use of poisonous substances in food products and drugs:
The Insecticide Act, giving the Government power to determine what kind
of poison shall be used to annihilate bugs:
The Plant Quarantine Act, giving the Government power to regulate
the importation of nursery stock and other plants and products and
to enable the Secretary of Agriculture to establish and maintain
Quarantine Districts for plant diseases and insect pests:
The Livestock Quarantine Act, to enable the Secretary of Agriculture to
effectually suppress and extirpate contagious pleuro-pneumonia, foot
and mouth diseases and other dangerous infectious and communicable
diseases in cattle and other live stock:
The Meat Inspection Act that, for the purpose of preventing the use in
Interstate, or Foreign Commerce, of meat and meat food products, which
are unsound, unhealthy, unwholesome, or otherwise unfit for human food,
the Secretary of Agriculture at his discretion may cause to be made, by
inspectors appointed for that purpose, an examination and inspection
of all cattle, sheep, swine, and goats before they shall be allowed
to enter into any slaughtering, packing, meat-canning, rendering or
similar establishments in which they are to be slaughtered, and the
meat and meat food products thereof are to be used in interstate or
foreign commerce.
The twenty-eight Hour Law by which the Government compels the humane
treatment of cattle:
Employers' Liability Act:
The Safety Appliance Act:
The Hours of Service Act:
The Transportation of Explosives Act:
The Newspaper Publication Act:
The White Slave Act.
Public-domain text, read in full here on John Shaqi.
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