Watson's Jeffersonian Magazine, (Vol. III, No. 1), January, 1909Various
History
Watson's Jeffersonian Magazine, (Vol. III, No. 1), January, 1909
Various
United States -- Politics and government -- Periodicals
Examine the published and sworn statement of all the local banks in
your County, and figure a reasonable rate of interest on the deposits
alone, not including capital stock and other sources of revenue, and
you will find a profit per annum of more than sufficient to defray the
expenses of your County, including maintenance of schools and roads and
bridges.
This scheme may seem visionary at first, and not feasible, but think it
over. Don’t dismiss the idea without a thought. Surely it is worth some
consideration. Perhaps you may get some good idea from it.
Bankers will dismiss the idea, of course, as not being worthy of
consideration. Money lenders will oppose it. Large capitalists will
treat it lightly. To the man, however, who is interested in Government
of the people, by the people, for the people, free from any personal
advantage, it will surely merit your consideration.
Governments are formed to regulate society and to protect the weak
against the strong. That was the prime object of Government. That which
vitally affects the public is proper subject of legislation. If a wrong
is being perpetrated it should be righted by law. The people have
the right to expect this to be done. They have it in their power to
regulate this greatest of all necessities, money.
One hears a great deal said about the necessaries of life. We talk of
raiment to clothe us, houses to shelter us, food to satisfy our hunger
and fuel to keep us warm, as the necessaries of life, but none of these
things can be counted as any more necessary than money, for before we
can procure these things we must first have money. It is the first
necessity of life. Is it not proper that it should be put under the
control of our Government and its control taken out of the hands of the
few?
Let all the people control, by means of a proper Government, this first
great necessity.
People’s banks will protect the depositor and make his deposit secure.
People’s banks will relieve the borrower from the money shark and
usurer, as a fixed legal rate of interest only will be charged.
Let us have people’s banks, and the power of money, which is now given
by the millions of depositors in this Country to a few men, will be
taken out of the hands of the few and returned to the people through
their Government. Wall Street will be transferred to Washington.
Let us have people’s banks and the investor will not be crushed to the
wall by a panic, as they will be a thing of the past. Investments will
be more stable and more secure.
The standard of value will be fixed for all time, tariff laws will need
no amending and changing from time to time, and cause restlessness and
uneasiness in the public mind, and every man will have an even chance
with every other man in his race for a livelihood.
_A DWELLER WITH THE PAST._
From cabin crude on lonely height—
Eyes piercing keen the solitude—
She gazes at the scarce-worn pass,
Where shadows ceaseless bend and brood.
Public-domain text, read in full here on John Shaqi.
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