People's Pilot, Volume 6, Number 41, Rensselaer, Jasper County, 1 April 1897 — Turn Their Own Weapons on Them While Fighting for our Rights. [ARTICLE]

Turn Their Own Weapons on Them While Fighting for our Rights.

The comptroller of currency in his report for ’BS, states that the daily business transacted through the banking clearance houses of the United Slates amounts to seventy three million dollars, while the actual cash employed to settle the accounts between the various banks, amounted to but three million dollars. From this it will be seen that one dollar of currency is made to perform twenty-four and one third dollars of the bankers’ business by the aid of checks, drafts and clearance house receipts. Thus by the invention of banking clearance houses the bankers adjust their business to the volume of circulating medium. The wage workers and manufacturers require cash to carry on their business, and since there is but one dollar of money to transact twenty-five dollars of business, the employer is obliged to borrow the dollar he employs to pay wages with, nineteen times each year. This is shown by the report of the state statistician of the K. of L. for Indiana for ’B6. Archery has established a business clearance house, similar to the banking clearance house, where, by employing checks, warehouse receipts, and bills of exchange the business of the producer is adjusted to the volume of circulating medium. The immense saving to the producing classes thus effected can be seen when it is understood that the interest paid each year for borrowed money m ihe United States amounts to the vast sum of six hundred and forty million dollars, equal to an annual tax of eighty dollars for each farmer in the United States. Through the Archer clearance house, purchases by wholesale or retail are made, and sales of everything in large or small quantities effected. To facilitate this work and spread the Order Energetic Organizers and reliable agents are wanted for every stale, district, county and town in the country. For further information address with stamp, W. P. Smith in care of The Archer, Rensselaer, Ind. Torturing, itching, skin eruptions, burns and scalds are soothed at once and promptly healed by DeWitt’s Witch Hazel Salve, the best known cure for piles. A. F. Long.