(1) I don’t think I have been “too hard on the darky.”
Doctor Booker Washington, spoiled by too much praise, got too gay in his
statements concerning the rapid progress of the negro in civilization.
The Doctor’s idea seemed to be that as soon as you caught a young
African, washed him, combed him, put clothes on him, and taught him how
to read, write and cipher, he was at once civilized.
I knew better than this, and the Doctor does now. He will be more
particular how he claims superiority for the negro race, hereafter.
Especially since his brethren in Santo Domingo have given that “Republic”
another push hellwards.
On that island, one of the most favored spots on the globe, the negroes
had the advantage of beginning with an elegant civilization which the
French had taught them.
The negroes expelled the French, set up a government of their own, and
the record of their _republic_ has been one of the foulest blurs on the
history of the human race. They get worse and worse and worse. There are
not a sufficient number of whites in Santo Domingo to keep the negroes
straight: in this country there are. _That makes all the difference._
(2) If I were President and could do away with the Gold standard,
restoring the currency to the constitutional status, depriving the
National Banks of the privilege of creating paper currency, and
exercising that power directly by the use of Treasury Notes, why should
the banks “totter and fall?”
A good many of them have tottered and fallen; many more of them are going
to “totter and fall.” Why? Because the system is rotten. Thousands of
individual banks and bankers are as sound as gold dollars, but the system
isn’t, for the reason that too much bank-made currency, of various sorts,
is afloat; the line of credits has been lengthened until it is about
to snap; wild-cat speculation is rampant; and thousands of banks are
dabbling in business which isn’t legitimate banking.
I am in favor of Banks of Deposit and Discount—so long as we cannot get
Postal Savings Banks.
But I am opposed to Banks of Issue—that is, banks which issue their
promises to pay and get rich on what they owe. These are the National
Banks. Render to Cæsar the things which are Cæsar’s; restore to the
Government the sovereign power of issuing paper currency.
Depositors would not be endangered by our policy of expanding the
currency; the more money in circulation, the more certain the depositors
would be to get paid.
(3) In my Message to Congress, I would recommend Postal Savings Banks,
for the reasons stated in the December issue of this Magazine, page 231.
The kind of money I would recommend would be that which the Fathers fixed
in the Constitution, and which the practice of a hundred years seemed
to render “irrevocable”—a system which had the sanction of Washington,
Hamilton, Jefferson, Adams, Madison, Monroe, Jackson and Lincoln.
The Constitutional system of currency, as shown by the law and the
practice of Presidents, and the decisions of the Supreme Court, is
_Silver_, _Gold_, _Treasury Notes_, and the silver dollar was _the unit
of money_.
Congress sold itself to Bank of England agents, and changed our system of
currency to suit European financiers.
Mr. August Belmont, of New York, could tell you how much Rothschild money
his bank spent to bring about the change.
_And I hold in my desk sworn evidence that Ernest Seyd, Bank of England
Agent, spent $484,000 for the same purpose._
The fight for reform will never stop till you have wiped out that shame,
and have put our financial system back on the sound basis built by the
Fathers.
If the Corn husking issue has been settled, please hustle for those
subscriptions if you would make us happy.
* * * * *
WESTMINSTER, S. C., Jan. 3, 1906.
_Hon. Thomas E. Watson, Thompson, Ga._
DEAR SIR: I am very much interested in the Educational
Department of your excellent Magazine, and glean much valuable
information from it.
The inductive or interrogatory style, so often and
advantageously used by yourself in your editorials, is the
best method of teaching on any subject. Questions are easily
asked—any one can do this.
Answering is sometimes more difficult.
(1.) If National Banks should be abolished, and the Government
issue the money used by the people, how would it be put in
circulation?
(2.) If the National Banks were abolished, would it not be a
matter of convenience in business transactions, be necessary,
to have private banks?
(3.) Can you furnish back-numbers, from the beginning of your
paper?
These questions are frequently asked by the common people, and
some of us are puzzled to know how to answer satisfactorily.
Grover Cleveland, I think, once said, that however money
might be created, the middle-man, by trusts, monopolies, and
speculations, would take the advantage and oppress the poor and
needy, just the same.
If you think the above questions worthy of notice, please
answer in your February number.
I am glad to note the contemplated improvement in your
Magazine. I will do my best to get you more subscribers.
Yours respectfully,
⸺ ⸺.