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nydus/The Legalized Crime of BankingPublic

Silas Walter Adams critiques the Federal Reserve Banking System, arguing that its monetary policies have significantly inflated the costs of war and national debt. The book examines the historical impact of private banking practices on the American economy and proposes a constitutional alternative for the management of the nation's money supply.

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Table of Contents

Chapter XV The Constitutional Solution

the words on windows, on front of building, "United States Depository," and on your currency and cheques "The Treasury of the United States," and remembered that no post office had ever failed, that the United States is, or would be, the soundest institution on earth, there would never again be in your mind a fear that "this Depository may fail, and then I will lose all my money." Complete confidence in the United States Depositories would quiet your fears, comfort your soul, and calm your nerves. There would be nothing going on in that building but (a) cashing cheques, or receiving them for deposit; (b) your getting your cheque books; (c) and busy people debiting and crediting the accounts of the depositors would pervade these buildings. If you wanted to send money to a distant community you would not go buy an Express Money order, or a post office money order, you would just put your own Treasury cheque in a envelop, address it, and place a three-cent stamp on it, and mail it. Your Depository cheque would be as good as a Nation could make it, as safe as a money order could be; for every cheque you wrote would be "legal tender" money.

The Bureau of Engraving and Printing in Washington would print all Depository Cheques. They would be blank cheques, similar to an American Express Company cheque. The cheque would be the same size and design as that chosen for United States Treasury Certificates, with only the capitol building at Washington as background. The top half of the Treasury cheque would be very similarly worded to the above cheque. In the left corner the wording "when countersigned below with this signature." In right corner would be the serial number as above — each depository would have a key number, so that wherever a cheque turned up, its home depository would be easily ascertained. At top left would be line for signature of cheque holder as on the above cheque, and date line on right, as in above cheque. Across centre would be printed in large type THE TREASURY OF THE UNITED STATES OF AMERICA "The cheque is legal tender for all debts, both public and private," when properly signed in lower right corner with same signature

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