People's Pilot, Volume 4, Number 50, Rensselaer, Jasper County, 6 June 1895 — Suppose. [ARTICLE]
Suppose.
Suppose all the gold obligations now due against the United States should be presented at one time, could the government pay them? Suppose that all depositors should call'at the banks at the same time for their deposits, could the banks pay them? Suppose all the bank notes were presented for redemption at the same time, could the banks pay them? If not why call it an honest money system? It is safe only in the event that payment is not asked. Any kind of government money is safe that way. All this howl about “sound currency” is a fraud. The government could not redeem its obligations if it was asked to do so. Neither could the banks. The whole business rests on confidence. The banks are good if you do not ask them to do wbat they promise to do. The government paper is good as long as you do not present it for redemption. You must have confidence. You must be willing to pay the banks interest on what they owe you. Whsn you borrow money of them you must give them abundant security. When you deposit money with them they give you no security. It is the “best banking system in the world.” You must throw up your hat and shout for, the gold dollar and bank notes. This to "sound currency.” It is all in favor of the poor man. you knew. That is the reason the bankers want it— so as to help the poor
man. They are always very solicitous for the poor man and his interests. And the more solicitous they are the poorer the poor man gets. Take off your hat and shout for the gold dollar, bank notes, rags, slavery and crime.
