That Bank Of Venice

In a recent sue of the New Vork Tribune R. G. Horr thuis tells about tihte famous Bank of Ventte tliat ont tesued bilis tliat were mot redeemable a.ml hiow they remaraed at par: I tluiiiik I liave in my possession, nearly Half a hundred letters, in whk'h the writere ask dip: "IWI nn+. the Baak of Amenice issue its bilis and were tttuey not for huindreds of years at par amd above par, thouffh they vei-e .not redeemable ?" I wonder li'ow ma,ny people who ai-e constant ly referrïnig to that Bank of Venfce have the least idea as to what thoee bilis wette ! Tlney were not bank bldte at all. Tliey were "certifieates of deposit." Tlie fiovermnient ïorced a large munber of wealtliy men to deposit Mims oí mamey In the Bank of Yenicej íor wlíieh the bank i.ssmed its certifícate of Üepostt, bearmj interest at tour per cent, a year. Tbe governr ment tln conipelled tlve bank to loan it tlve luoney and paaeed a law proliibiiting the depositor.s from presenting fbe certfficates for payinent. In tlnat way, thosu certificates became actually perpetual bontls of thie gOT-ennmeirt, bearlng interest at four per oemt a year. Now just as lang as the gavemment lasted and kept Lts contract witü the bank, those eertifieates were above par, just as a United .States bond to-day vonld be above piar, i,f díte imtereet was secured withkmt any reaipfl to how long LI niiiiln be befare the principal woukl bepeid. The lomger euch a bond had to rum,, tiiv toare v-alu&bte it would be. Thiese moil-ru lovers of the Bánk of Vciiii f, louevi'i-, ,omlit onc circumstance oan,ncted with thoee bMls. The gOTöraimenrf flmally tailed to keep CtB pniüiiscs witli the l.ank; the bank alo DaiteH; and t lio people who held Micsr r(Tiii;r;itr, h,s evry dollar. lf liuldL'i-s of thoee irti.fií-.-ii -,. lïad had. bn place af the certificateé, gold, ar ilver, steel or i hi any eubetamce poesessiag iintrinslc value, they wotiiM ïiiavc beem secuire. ttow aa tha gavemmeail does not produce tlieee artlelee i intrinsic mine tor the use ol its private citizems, neither should it be expected to supply them with pn.,;iiM.s ,,, llav ta materlals whici ;; -1Í produce. Let me Wspeat, agaia, in conclusión: vana waoae tiwible aj-ïses from a mistaken aotion as to wliat can be niiiml oí a u-Dvcniiiii-nt. Any one wba eomprehends th efact that govermmemt must ahvays be sustained amd supported by the peopie and tint Ti-o nation sliould be reiwd to eupply memey to private iimlhi,lual. '■ ih.'ir private buelnees, .-an ev'r be Jfd a.sti-ay by these in„,UTn tlu-orists Party platforms bas tn staar! n g-ood deal ov Btretctota'. 'l A poltttelvan that can't stand crow had bettxw change Life bbai-ain' liouee. A man kin siMè round a nnwer ful site .-nul ,mi keep in th party Th.. 4th oí .Tu]y is the bteeest uj pn me