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That it is the worst of all monopolies, because it is the basis of 

 all monopolies. 



That it limits the circulating medium to a fraction of what is re- 

 quired to develop the resources of nature and transact business for 

 cash, instead of on the credit system at present unavoiadable, by ex- 

 cluding as a basis for the issue of paper money, all wealth except gold 

 and silver. 



That it absorbs all the increase of wealth through high rates and 

 compound interest, thus directly creating pauperism and indirectly 

 misery and crime. 



That it corrupts and vitiates integrity and morality in all transac- 

 tions, and perverts industry and commerce into a species of piracy. 



We will now pay our respects to the National Banking system, 

 which is in vogue in this country. 



This system is so well understood that a description of it will be 

 unnecessary. It will be well, however, to refer to the cause that pro- 

 duced the change in the banking system of the country^ converting the 

 old State banks into National banks. 



It is a well-known fact in political economy that you can increase 

 the market value of an article by creating a demand for it and 

 controlling the supply. How did the bankers create a demand for 

 United States bonds after they had purchased most of them of govern- 

 ment at a large discount ? They established the National Banks and 

 made the bonds the basis for the issue of paper money, and at the 

 same time passed a law that any individual, corporation or company 

 that should issue notes, bills, checks or anything that could circulate 

 as money, should pay a tax of lo per cent on such issue, except Na- 

 tional Banks, hence, the change. 



So delusive has been the idea of safety under a republican form 

 of government, so forgetful the people that "eternal vigilance is the 

 price of liberty," and so crafty and successful the tyrant, whether in 

 the garb of a republican or disguised as a democrat, that we can 

 no longer boast of this as the home of liberty. If you have forgotten 

 what constitutes democracy, read the Declaration of Independence 

 and refresh your memories with those glorious sentiments. Call up the 

 honored dead and ask them if the institutions of to-day are what they 

 had expected or hoped to establish. Beaten on the battle field, aris- 

 tocracy has appeared in a new form. It is not now taxation through the 



