State Convention—Agricultural Rag-Baby. 195 
very highest average of “ basis ” ever known in this country,) the 
additional explosive element of deposits, most of which are loaned 
on interest on specific time; it does not seem possible for human in- 
ingenuity to contrive a more pernicious, unsafe system for a basis 
for all monetary transactions of a country. 
We know of no reason in the world for it except this, that the 
banks always profit by it and the general public suffer. 
Now, for one of the “general public,” I protest against the con¬ 
tinued legalization of this system of wholesale robbery of the* 
masses, and the enriching of a few b} r legal enactment. No gov¬ 
ernment has a right to create such a privileged class at the expense 
of all others, and especially is this odious in a republic. Of all 
monopolies, this is the most gigantic and outrageous, and should 
be speedily abrogated. 
We distinctly assert that banking in its legitimate sphere is a pri¬ 
vate matter, no more needing governmental control or regulation 
than ordinary mercantile transactions, and should be left entirely 
to the needs of business to determine how many there shall be and 
where they shall be. 
We declare for a total severance of the functions of banking from 
the wholly distinct and govermental function of creating and emit¬ 
ting the circulating medium of the country. We want a financial 
republic as well as a political republic, and the first step in that di¬ 
rection is to make a declaration of independence from a coin cur¬ 
rency or a coin-basis currency, both of which are but engines of 
mischief to all the productive agencies of the land. Seeing that 
they are inherently incapable of improvement or of amendment, 
and that they are the effete relics of semi-civilization, we would 
give them the benefits of the same cremation act which they through 
the Secretary of the Treasury are giving to our greenbacks. 
Not being disposed to fall down and worship the golden image 
which the heathen have set up to worship, and commanded all men 
to fall before, we propose to leave them to their dumb-idol worship 
and proceed to the more pleasant task of enumerating the benefi¬ 
cent workings of our new monetary system. 
The characteristics of the perfect currency to be issued under the 
new monetary system are briefly these: Whether gold or currency, 
to be coined and made and issued solely and entirely by the gov¬ 
ernment. No legal relation to be created between coin money and 
