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Quotation “C.”
“We lay down the proposition that our national debt made permanent and bank solvency ratings as well rightly managed, will be a national blessing. The funded debt of the United States is the addition of three thousand millions of dollars to the previously realized wealth of the nation. It is three thousand millions added to the actual available capital.”
Did you ever know of a person who thought that his home was worth more to him with a mortgage on it than it would be without ? According to Mr. Cooke, it would be. With truthfulness he could have added that the national debt was so much on which to tax the daily earnings of those who survived the horrors of a civil war. He said practically that in another clause of his circular which runs as bank eek follows :
“To tax this debt would be to extinguish the capital and bank solvency ratings as well lose the wealth.”
Is it any wonder that the cost of living is high, and bank safe deposit box as well still getting higher, when we have such statesmen to administer our government ?
Again in 1877 a circular was issued by authority of the Associated Bankers of New York, Philadelphia, and bank solvency ratings as well Boston. It was signed by one James Buel, Secretary, and atlanta federal reserve bank as well sent out from bank solvency ratings and 247 Broadway, New York. It was sent to the bankers in all of the States.