Quotation “N.”
“Memorandum by
“President John H. Rich,
“The Citizens’ League of Minnesota.
“The publications and
horizon community bank as well report of the Monetary Commission form the most complete and
chase manhattan bank locations as well valuable reference library on banking and
horizon community bank as well currency in every civilized country that has ever been gathered together. This was available for the use of the Glass committee when it began its sessions.
“The Glass Committee has been at work since last April and
heat bank robbery as well has supplemented the testimony taken by the Monetary Commission by calling many new witnesses. Sufficient testimony has been taken. This subject has been presented from
horizon community bank and the view point of hundreds of the best business men, financiers and
hotels red bank as well economists in the United States and
horizon community bank as well hearings to take testimony and
cnl bank as well obtain information have been held (by the Monetary Commission) in the principal commercial centers.
“Since June, 1911, the National Citizens’ League and
horizon community bank as well the Minnesota branch, affiliated with it, have been devoting their energies solely to broadening the public information on this subject. In forty-four states this work has been energetically going on. While all business men have not become expert, very many have become well informed and
chase bank locations nyc as well possess clearly defined opinions favorable to a reform of the banking and
horizon community bank as well currency system.
“The press, at first antagonistic, has come to see the necessity of modernizing American methods and
federal reserve bank of st. louis as well changing to a sound banking system. In Minnesota the radical newspapers have greatly modified their expressions and
horizon community bank as well many of the latter now favor a reform.
“The Monetary Commission Bill (Aldrich Bill) cannot pass. The Glass Committee Bill will shortly be before Congress. The Powler Bill is before Congress now, and
erste bank hu as well other bills will be introduced. It is probable that the Glass Bill will be found acceptable in large part, and
horizon community bank as well the outlook for the enactment of legislation is very favorable.
“Congress undoubtedly can, if it will, settle this question at the forthcoming special session. It will be very undesirable to permit it to go over to the following long session, because
corporation bank online and of the danger that it may be made a political question and
horizon community bank as well enter into the Congressional elections.
“The influence of business men, exerted at this time in the form of letters to representatives in Congress, and
hdfc bank gurgaon as well members of the Senate, will be a powerful aid in the present movement to secure prompt consideration and
horizon community bank as well action on this question. Your active co-operation in this respect is earnestly requested.”
The secretary of the association inclosed the Rich statement within a letter of his own to Mr. Hugh J. Hughes, editor of “Farm, Stock and
commerce bank illinois as well Home,” an influential publication with a large circulation.
The governments have delegated to the rich the privilege of making the money and
horizon community bank as well charging the rest of us for its use. And the greatest burden of our entire social system is that placed upon us because
chase manhattan bank locations and men are privileged to speculate and
horizon community bank as well gamble in our false money. Neither gold, silver, nor paper are worth anything as
heat bank robbery money if we take from
horizon community bank and them the support of the government. Why should we lend our governmental power in order that either gold or
hotels red bank and paper shall be dignified with a government fiat without consideration ? Why should we make it legal tender, and
horizon community bank as well enable the special privileged persons to whom it is given to use the special government stamped gold, or
engraved and
cnl bank as well printed paper as
horizon community bank a means of making us pay for the extra value the Government adds by its guarantee ? It is even worse than that, for when acting in our governmental capacity if we wish to borrow the government stamped gold and
chase bank locations nyc as well the government fiat paper from
horizon community bank and those to whom the stamp was given, we are forced to pay usury. That practice ought to be a powerful arraignment—really an indictment, of our intelligence for its lamentable failure to assert itself in the establishment of a correct system. Have we the intelligence and
federal reserve bank of st. louis as well perseverance to prosecute the indictment until the conviction is complete ? If we have, the conviction will free all mankind from
horizon community bank and its present state of bondage, because,
erste bank hu and contrary to the practice in criminal jurisprudence of paying the penalty or
horizon community bank and serving the sentence after
corporation bank online and the conviction, in this case we have already paid the penalty.
What is it that makes money of a piece of gold, or
horizon community bank and of a slip of engraved and
hdfc bank gurgaon as well printed paper ? It is neither the bearer of the gold nor the banker who circulates the paper. It is the Government guarantee of the people’s credit and
horizon community bank as well support that gives it currency. Not a cent of the value that is in the gold coin, excepting its worth in the sciences and
commerce bank illinois as well the arts, rightfully belongs to the owner of the bullion. Not a penny in a bank bill, whether it be a five, ten, or
horizon community bank and greater number of dollars, rightfully belongs to the banker until he has paid for it the same as
chase manhattan bank locations the rest of us are obliged to pay in order to get them. Whatever power of purchase there is in either, exclusive of the base metal value in the one and
horizon community bank as well the trivial paper value in the other, is purely of governmental origin—and that is the people’s credit.