,P>T #b1 ,*APT] #dd 
,PR\DHON'S ,BANK 

#ahigahig 

,PEOPLE 3 

,AU?OR 3 ,B5JAM9 ,R4 ,TUCK] 

,TEXT 3 

,PR\DHON'S ,BANK4 

.<,LIB]TY1 ,SEPTEMB] #b1 #a#h#h#d4.> 

,:ILE ! PR9CIPLE ( EQUAL REPRES5TATION ( ALL AVAILABLE VALUES BY ! NOTES ( ! ,EX*ANGE ,BANK IS :AT ,I HAVE ADVOCAT$ !SE ?IRTY YE>S1 ,I DO NOT P]CEIVE H[1 9 G5]ALIZ+ ! SY/EM1 AS ,PR\DHON W\LD DO 7,I REF] TO ! P>AGRAPHS TRANSLAT$ BY ,GRE5E71 WE >E TO AVOID ! *ANCES ( =G]Y ON ! ONE SIDE1 & ON ! O!R ( FRAUDUL5T ISSUES BY ! (FIC]S ( ! ,BANK47#i#e 8 #a7  

,SU* A ,BANK1 MOREOV]1 IS EQUIVAL5T TO A G5]AL 9SURANCE POLICY ON ! PROP]TY ( A C\NTRY1 & ! TRUE VALUE ( ITS NOTES MU/ DEP5D ON SECURITY AGA9/ CONFLAGRATIONS & O!R CATA/ROPHES AFFECT+ REAL E/ATE AS WELL AS P]SONAL PROP]TY47#i#e 8 #b7  

,I HOPE ?AT ! FIR/ ESSAYS WILL BE LOCAL & LIMIT$4 ,I ?9K ! COMM]CIAL ACTIVITY ( MOD]N CIVILIZATION DANG]\SLY1 IF NOT FATALLY1 EXAGG]AT$ & DISPROPORTION$ TO PRODUCTION4 ,! ,RAILROAD IS A REVOLV] 9 ! H&S ( A MANIAC1 :O HAS JU/ AB\T S5SE 5\< TO %OOT HIMSELF4 ,EV5 W]E WE NOT1 9 \R BL9D PASSION = RAPID & FACILE TRANSPORTATION1 HANG+ \RSELVES BY ! SLIP-NOOSE ( MONOPOLY1 ! IMPULSE :I* RAILROADS GIVE TO & T[>DS CITY LIFE1 COM+1 AS IT HAS1 BE=E ! E/ABLI%M5T ( A CONS]VATIVE SCAV5G] SY/EM1 BY :I* ! CREAM ( SOILS W\LD BE RE/OR$ TO !M1 RAPIDLY DRA9S & WA/ES T]RA-SOL> VITALITY1 & SUFFICES SOON TO R5D] ,AM]ICA A DES]T4 ,! FEASIBLE *ECK TO ?IS GALLOP+ CONSUMPTION LIES 9 LOCALIZ+ ! CIRCUITS ( PRODUCTION ) MANIPULATION & CONSUMPTION 9 COOP]ATIVE ASSOCIATIONS4 ,! SMALL] ! >EA 9 :I* SU* SELF-SUFFIC+ CIRCUIT IS EFFECT$1 ! GREAT] ! ECONOMY ( =CE 9 TRANSPORTATION47#i#e 8 #c7 

,M5 & ,GODS >E TOO EXT5SE2 

 ,C\LD Y\ SLACK5 & COND5SE87#i#e 8 #d7 
  

,I SUPPOSE Y\ SEE ! CORRELATION ( ?IS IDEA ) ?AT ( ! SAFETY ( ,EX*ANGE ,BANK NOTES1 AS 9 A LOCALLY RE/RICT$ COMM]CE FRAUDS C\LD & W\LD BE PROMPTLY DETECT$1 & !RE=E W\LD BE SELDOM ATTEMPT$47#i#e 8 #e7 

,$GEWOR?4 
  

,PR\DHON WAS ACCU/OM$ TO PRES5T HIS VIEWS ( ! WAY 9 :I* CR$IT MAY BE ORGANIZ$ 9 TWO =MS1--HIS ,BANK ( ,EX*ANGE & HIS ,BANK ( ! ,PEOPLE4 ,! LATT] WAS HIS REAL IDEAL2 ! =M] HE ADVOCAT$ :5EV] HE WI%$ TO AVOID ! NECESSITY ( COMBAT+ ! OBJECTIONS ( ! GOV]NM5TALI/S4 ,! ,BANK ( ,EX*ANGE WAS TO BE SIMPLY ! ,BANK ( ,FRANCE TRANS=M$ ON ! MUTUAL PR9CIPLE4 ,IT IS EASY TO SEE ?AT ! PRECAUTIONS AGA9/ =G]Y & OV]ISSUE N[ US$ BY ! ,BANK ( ,FRANCE W\LD BE EQUALLY VALID AFT] ! TRANS=MATION4 ,BUT 9 ! CASE ( ! ,BANK ( ! ,PEOPLE1 :I* 9VOLVES ! 9TRODUCTION ( FREE COMPETITION 9TO ! BANK+ BUS9ESS1 !SE EVILS WILL HAVE TO BE O!RWISE GU>D$ AGA9/4 ,! V>I\S WAYS ( DO+ ?IS >E SECOND>Y CONSID]ATIONS1 HAV+ NO?+ TO DO ) ! PR9CIPLES ( F9ANCE2 & HUMAN +5UITY1 :I* HAS H]ET(ORE CONQU]$ MU* GREAT] OB/ACLES1 WILL UND\BT$LY PROVE EQUAL TO ! EM]G5CY4 ,! MORE REPUTABLE BANKS W\LD SOON BECOME DI/+UI%$ FROM ! O!RS BY SOME SORT ( VOLUNT>Y ORGANIZATION & MUTUAL 9SPECTION NECESS>Y TO !IR [N PROTECTION4 ,! CR$IT ( ALL SU* AS DECL9$ TO SUBMIT TO ?OR\< EXAM9ATION BY EXP]TS AT ANY MOM5T OR TO KEEP !IR BOOKS OP5 = PUBLIC 9SPECTION W\LD BE RU9$1 & !SE W\LD RECEIVE NO PATRONAGE4 ,PROBABLY ALSO ! BETT] BANKS W\LD COMB9E 9 ! USE ( A UNI=M BANK-NOTE PAP] DIFFICULT TO C\NT]FEIT1 :I* W\LD BE GU>D$ MO/ C>EFULLY & DI/RIBUT$ TO ! V>I\S BANKS ONLY SO F> AS !Y C\LD FURNI% SECURITY = IT4 ,9 FACT1 ANY NUMB] ( *ECKS CAN BE DEVIS$ BY EXP]TS ?AT W\LD SECURE ! CURR5CY AGA9/ ALL ATTEMPTS AT ADULT]ATION4 ,!RE IS LITTLE D\BT ?AT ! FIR/ ESSAYS WILL BE1 AS ,$GEWOR? HOPES1 LOCAL & LIMIT$4 ,BUT ,I DO NOT ?9K ! MONEY SO PRODUC$ WILL BE NE>LY AS SAFE AS ?AT :I* WILL RESULT :5 ! SY/EM HAS BECOME WIDESPREAD & ITS V>I\S BRAN*ES ORGANIZ$ 9 SU* A WAY ?AT ! BE/ MEANS ( PROTECTION MAY BE UTILIZ$ AT SMALL EXP5SE47#i#e 8 #f7 

,FROM 3 FAIR-USE4ORG4 

,*RONOLOGY 3 
,NOVEMB] #c1 #ahif 3 ,P>T #b1 ,*APT] #dd -- ,PUBLICATION4 
,FEBRU>Y #b#a1 #bag 3 ,P>T #b1 ,*APT] #dd -- ,ADD$4 

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