THE WEALTH MAKERS.
November 14,' 1895
THE WEALTH MAKERS.
Kw 6rlM of
THE ALLIANCE-INDEPENDENT.
Consolidatloa of th
Farmert Alliance and Neb. Independent.
PUBLISHED EVERT THURSDAY BT
Tk Wealth Makers Publishing Ownpanj,
1120 M Bt, Llneola, Nabruka.
SlOROB HOWABB Gimox. Edltof
J. 8. ilTiTT . BailneM Midmu
JV. Z P. A
"It ny man matt fall for m to rise.
Then Mtk I not to climb. Another's pain
I ehooM not for mj good. A golden chain,
A rob of bonor, la too good prla
To tempt mj hasty hand to do a wrong
Unto a fallow man. Tbta Ufa bath wo
Bnfflciant, wronght by man' aatanlc foe;
And who that bath a heart would dare prolong
Or add a Borrow to a atricken aonl
That aeeka a healing balm to make it wholeT
II7 boaom owns tb brotherhood of man."
Pnbllabera' Announcement '
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Men must sacrifice and even die for the
cause of right. But right can never be
made wrong, nor evil good.
Good work ia never lost. Failure of the
principles and cause of right are not pos
sible. Truth will take care of itself. It
cannot be destroyed.
The World-Herald prints a list of 135
American heiresses who have married ti
tled foreigners or men of rank in the last
twenty-five years. And the fortunes, not
including Miss'Vanderbilt's, as footed up
by that paper, amounted to 1161,153,
000.
Sir Julian Paukcekote remarked in
his toast at the wedding breakfast of
Duke Marlborough and his Vanderbilt
bride: "We must regard this wedding as
another link inseparably binding Eng
land and America together." Yes, and
it is a link in the chain which enslaves
the workers of America. But observe
bow railroad magnates and royal dukes,
American monopolists and English "divine-right"
House-of-Lords lawmakers,
stand together as people of a kind-
vultures of the same feather.
France is passing through a political
and financial crisis. French financiers
can see nothing but bankruptcy ahead
of them. There is a panic on the Paris
Bourse and fortunes are being swept
away every hour. Banking houses by
the score have closed and many wealthy
men have gone to smash. The national
debt is each year piling up and no minis
try thus far has dared to face it. The
Ribot ministry was given a vote of cen
sure on a question of investigating and
exposing public officials charged with
fraud.
One hundred and fifty employes of the
Union Pacific, or members of their imme
diate families, secured passes and went in
a body to Denver Saturday last to be
taken by the hand and cured by the
healer, Francis Schlatter. Division Supt,
Sutherland has been cured and his cure
was so remarkable and convincing that
it led to this trainload of sufferers going
to be cured of their ailments. Mr. Suther
land was injured in a wreck three years
ago, had submitted to four surgical ope
rations and was a permanent sufferer
from injury of the back and deafness.
both these ailments were removed, it in
stated, by the touch of Schlatter. Mr. S
says "thesensation of touching the hand
of Schlatter is something like an electric
current being turned on. When he took
my hand it was a good deal as though
this current, but weak, was passing into
my hand. After I left I felt my ears hum
and then as if a plug had been taken
out of it. I can hear as well as ever. I had
a handkerchief blessed and I broughi
it borne with me. My boy was a suf
erer with catarrh to such an extent that
A was painful to hear him. I suggest-
, ed to my wife that she apply the hand
kerchief to his nostrils and face and shi
did so, and now he is entirely cured.
know that it sounds like a fairy tale, buf
, , itistne truth."
REDDOTIO AD ABSURDtJH
Inequity and iniquity are the same
thing. Tliey menu "inequality," devia
tion from what is just or equal, in ex
change. To take more for lose, or some
thing for nothing, is an act of inequity,
iniquity, sin. But
(jetting as m uch as one can.
While giving the least that one mnst,
Is held to be practical wisdom by man;
In all the relations of business bis plan
Regards not the thing that Is Just.
What is called a lucky speculation is
rejoiced over, notwithstanding the fact
that gain without labor necessitates
labor withoutgain. Out of mere specula
tion nothing can come.
A man speculum's in real estate and
gains. How? By means of other men's
labor, which has built improvements on
the surrounding or adjoining land. His
gain is called "unearned increment." Yet
it was lubor product, or social value,
which the non-working, non-productive
speculator monopolize!. It is therefore
plum that such absorption of wealth
without labor is iniquitious, and should
be mado dingruceful and criminal.
The samereasoniug applies to unequal
contracts compelled by the monopolies
of capital, or money, who take advan
tage of the poverty and dependence of a
class that have been cheated out of their
inulienable right to laud and defrauded
of their rightful equal benefits from gov
ernment. '
But the apologists of selfish individua
lism, the each for-himself industrial and
and commercial struggle, declare that it
is just, that individual freedom and com
petition prevent oppression and distri
bute to each the share of wealth which
exactly corresponds with the value of his
labor.
"The value of his laborl" The market
value! How is this arrived at?
There is no free market, to begin with.
The railroads monopolize the ways and
means of transportation and charge in
freight rates at leust double what should
be the labor cost of carrying the goods
to market. And the market itself is also
owned or principally conducted by
speculators. The direct labor market
much of the time allows no sale of our
labor, because those who monopolize
the means ofproduction cannot constant
ly profit by our sweat, owing to the fall
iug prices and glutting of the markets
caused by underconsumption on the part
of the defrauded workers. Under the
present system of monopoly, which has
been begotten and built up by competi
tion, a large share of the wealth is dis
tributed to those who perform no labor
service in exchange for it. So the whole
system is unjust from top to bottom. It
rests on force and cunning, and the laws
are also made to enthrone those who first
secure an inequitable, iniquitous advant
age, property legislation giving to every
monopolist of land, or opportunities to
labor, power to command perpetual trib
ute from the defrauded proletariat class.
Our present comparative measure
ments of labor value are not based on
nature, but are fixed by force, not labor
force, but selfish, despotic force. And
there is no possibility of overthrowing
and preventing the rise again of despotic
power if we consider it right for each
man to get all he can. The Ishmaelitish
conflict of man with man, for gain one
of another, puts justice out of the ques
tion. Justice between man aud man is
based on human equality and a common
interest. The labor of all men is needed,
and the equally faithful labor of one man
is worth as much as the labor of anotherr
If one man has greater strength or large
intellect than others he receives these
gifts by heredity from humanity as a
whole, and he owes a proportionate ser
vice, all he has been given power to give,
to humanity. The duty to work, and
work for all, is incumbent upon all. The
right to work is the right to commune
with God, labor being the ordained,
means of getting at the goodness, the
good provisions, of God, which He has
freely and sufficiently provided for the in
finite needs and infinite development o
all His children.
SWALLOWING A OAMEL
I am addressing people who believe in
the moral law. Yet I venture to say our
individual conceptions of the require
ments of that law are widely different,
are conflicting and imperfect. The mor
al law is established in the nature ot
God, is forever unchangeable, and must
be obeyed that there may be harmony
and happiness on earth as well as in
heaven, among all intelligent creatures.
What the moral law requires is the one
important matter for mankind to con
eider; because all evil is the result of
transgressing that law, and all good
must be secured by obeying it.
Almost all people take it for granted
that they individually know what is
right, and iu the main do it. Yet we
differ over what areour individual rights
and are in constant struggle one with
another to obtain what we call our share
of things. Look into the commercial and
political world, anywhere and every
where, and you will see it. We are in con
stant dispute or ' disagreement over the
questions of justice or injustice involved
in legislation; are divided certainly not
by church and anti-church lines into
fiercely contending political parties, each
of which declares the other to be selfish,
unjust, dnngerous; and we are demon
strating our failure as a people to grasp
or make use of the moral law, in that we
are at great cost constantly patching,
and in the main making worse, our statu
tory legislation. The tendency is not to
simplify and reduce the number of our
man-made laws, but to multiply them
and make them serve as instruments ol
oppression instead of salvation. It is
not true that we are self-governed and
free from oppression. We are not cap
able of seif-governuient until we clearly
recognize and consent to the require
ments of the moral law. The enormous
number of our statutory laws is each
year increasing; so also is disrespect ol
law, litigation and discontent. Our luwe
are made by a party combination ol
strong and cunning men, the greater oi
greatest selfish party which from time to
time, by smooth hypocrisies, division o)
spoils and plausible presentations and
promises, can secure the most votes'
Laws so secured, by the selfish, for the
selfish, must needs be immoral, unjust,
oppressive.
In the commercial world also we art
destitute of any settled conception ol
equity or justice. While each one easef
his conscience by culling it right, hit
right, to get what he calls his share, it it
really not rightbut might that isappeul
ed to, to settle how much each shall
serve, or what each shall have. And this
selfish struggle, continued through many
generations in every nation, has gather
ed into the hands of the strong and cun
ning and their descendants not only
much more than their rightful share ol
labor-created wealth, but the basis of in
dustrial equality and independence, the
laud, capital and means of exchanging
goods, the opportunity to labor and the
means of subsistence on which the ma
jority of mankind depend; so the power
of the strong and cunning class has been
selfishly increased over those of inferior
strength or cuuning, and has intrenched
itself behind similarly secured property
laws, which have enabled the descendants
of the rich to increase their power to
command tribute and extend their do
minion over the workers without them
selves working or contendfng. Corres
ponding to the inherited increasing
monopoly of the means of subsistence
by the rich, has been the inherited slavery
or dependence of the landless class thus
defrauded.
The universal self-centered strife and
process of selfish legislation which I have
outlined is what has made all despotism,
slavery and serfdom, the great and ever,
growing inequalities of riches and pov
erty, the law-made power of the classes
and the dependence of the toiling masses.
It has made it lawful in every nation for
one class to have wealth without labor,
and for the others to labor without
wealth. It has multiplied beggars, pau
pers, criminals and suicides. It has made
peace impossible where all should have
been the fellowship of equal industrial
co-operation. It has spread devastation
distress and death, and filled the world
with want and temptation. The selfish
nniversal strife for money, which is made
to stand for all things, is mammon wor
ship, aud the sum and substance of all
sin. It is this strife which the moral law
condemns, and from which the Christian
church was instituted to save men.
What is equitable between man aud
man?
This is the great fundamental question
we are put face to face with, from Mon
day .morning till Saturday night, every
week of our lives. And surely the moral
teachers, the Christian preachers whose
theme is "Sin and Salvation," should
be able to tell us, and they should speak
out as the moral leaders of the people.
The multitudes, lost, helpless, and sick
of selfishness, seeing no way to extricate
themselves from the week-day selfish
strife out of which all evils come, have
looked to the church to proclaim justice,
command repentance aud reach out. un
selfish hands to save. But the church it
self needs first to repent and turn from
its week-day sin, the sin of respectable
selfishness, before it can save others. So
the selfish strife for gain between the
buyer and seller goes on, the contests
between organized capital and labor con
tinue, with increasing bitterness, and the
cries of the defrauded ones are heard by
God alone.
PAT0HW0EK PHILOSOPHY
Can selfishness cure selfishness? Can
cunning outwit and put an end to cun
ning? Can force find a remedy for the
evils of force? Can a weaker class com
bine on the selfish principle and over
throw a stronger class that is already
organized and intrenched in the laws
and government? Is it foolish or wise to
seek to organize men politically to fight
the selfish by appealing to individual
selfishness? Cau the laws of a republic
be made and executed by selfish men for
the equal good of all its citizens? Can
men be taught that the universal ench-for-himself
struggle of the commercial
world is both wise and necessary, and not
make use of the same supposed wisdom
in politics?
Mr. Eaton, in his treatise on "Civil
Service Ueform in Great Britain," in a
single paragraph vividly pictures the sel
fish political struggle as it appears com
pacted, or organized and directed, in
what is known as the spoils system, by
which we have been ruled since Jacksou's
time. He says:
"The spoils system not only imperils
the purity, the economy, and efficiency of
the administration of the government,
but it destroys confidence iu the method
of popular government by party. It
creates a mercenary political class, au
oligarchy of stipendiaries, a bureaucracy
of the worst kind, which controls parties
with a relentless despotism, imposing
upon them at the elections issues which
are prescribed not by the actual feelings
and interest of the country, but solely
by the necessities and profit of the oligar
chy, while tosecure this advantage, party
spirit, the count an t aud mortal peril of
republics, is inflamed to the utmost.
Government by the people, four-filths of
whom simply vote for the ticket or the
measures prepared by the oligarchy,
sinks practically into the empire of a
corrupt ring."
Great Britain has civil service reform,
but selfishness is still the ruling power in
herpolitical parties and Parliament. Her
farmers, laborers, mechanics, coal miners
clerks, factory operatives and women
workers are not securing half their rights
And even by strikes they are not able to
prevent a gradual wage reduction, as
compared with the worth of their labor
products.
In our own land about half the public
employes, or 55,000, are now under Civil
Service rules and may not be assessed
for party funds or displaced by spoils
distributing politicians. ' But there is no
perceptible indication of an unselfish
ruling spirit controlling the acts of our
city councils, state legislatures, or na
tional congress. Unselfish men cannot
be nominated, much less elected to office.
We only hope the comparatively honest
and respectably selfish men may succeed
sometimes over the grossly corrupt cor
poration candidates and their henchmen
who usually run the primaries and con
ventions. It is folly to trust lawmaking to selfish
men. It is folly to expect to build up a
real reform party by appealing to selfish
motives and following selfish leaders.
Reform is costly, and political reform
can only be secured by a religious or mo
ral reform. No seifish organization ot
the weak can be made equal to the selfish
organization of the strong. The each-for-hini-self
accepted wisdom of thj selfish
world is seed which naturally developed iu
politics will grow at last into the ungov
ernable selfishness of anarchy. We are
patching law upon law and heaping up a
crazy contradiction of alleged demands
of justice, which are more and more
arousing the anger and contempt of a
long suffering people.
POINTS FOR THE PEOPLE.
Anarchy means no government
Socialism means government Pater
nal socialism means robbery of the
masses by law, while fraternal social
ism means the blessing of all by law.
When you hear a man say he is a
free silver man, subject to the action
of the democratic party, you may
write him down as a veritable cuckoo
and a gold-bug in disguise. Weather
ford (Tex.) Leader.
One of the great questions to be
decided by the American people in the
near future is whether the people shall
own the railroads, or the roads own
the government. Have you studied
the matter? If not, why not? Weather
ford (Tex) Leader.
Every year adds proof to the fact
that our government is as putty in the
hands of the money lords; that these
despots are merciless tyrants and that
the despotism of corporations is the
worst tyranny the world has ever
known. Chicago Express.
What are the old parties proposing
to do for your relief? Absolutely noth
ing. The populist party proposes gov
ernment loans direct to the people,
government control of railroads, tele
graphs, telephones, and of all other
natural monopolies. Washington Re
public. Like many prominent old party
politicians, the two great factions
composing the people's party are
rapidly approaching the "parting of
the ways." Strict individualists and
practical socialists can never dwell to
gether in unity, or formulate a plat
form that all can indorse and stand
upon. G. G W.
Bland says he is not an advocate oi
fiat or paper money; says it can be is
sued without limit and the country
flooded with it He certainly is aware
that the free coinage of silver was lim
itedin fact, entirely stopped. What
did it? It was the law, and that is the
way to limit the issue of paper money.
Missouri World.
Since Miss Frances Willard de
clared for free silver and other populist
doctrines the old party papers have
commenced to abuse her. They insist
that the W. G T. U. must remain
strictly neutral on politics and non
partisan as to all public questions. To
have opinions in these, most especially
to squint towards populism, is a high
crime and misdemeanor. Exchange.
With a hypnotized ministry and
mammonized laity, the church is in a
bad way. With a boodleized states
manship and a corporate-ruled state,
the government is in a bad way, too.
But the rich are comfortable in their
pews and the politicians secure in their
places, while the people continue on
the toboggan slide singing something
about "the land of the free and the
home of the brave." Coming Nation.
-Prof. M. V. Rork, of Kentucky,
writes: "Our whole force is now pre
senting populism as laid down in the
Omaha platform and it carries the
crowd every time. People are begin
ning to see that the discussion of silver
and gold is not the money question.
The republican praise of Cleveland
and Carlisle is so fulsome as to make
the democrats of this state blush."
Chicago Express.
If we had government banks as
advocated by .the populists, where
those who had money could and would
deposit it knowing it would be safe,
and where borrowers could get the
money they need on proper security,
then we would have practically a per
fect system of finance, for the govern
ment would know exactly when more
money could be used by the people and
could proceed to supply it Washing
ton Republic.
Dr. Madden, Eye, Ear, Nose, and
Throat diseases, over Rock Island
ticket office, S. W. cor. 11 and O streets.
Glasses accurately adjusted.
STAND BY THE TRUTH.
If We Promulgate Error Instead of Facta
We Do. the Cause Much Injury.
A vast amount of misconception
seems to exist concerning the nature
and attributes of bank exchange and
the functions it performs. Many of
our leading reformers persistently as
sert that bank exchange takes the
place of money and that if we had a
volume of money as large as the vol
ume of bank exchange, we should,
therefore, not need to use any checks
or drafts, but would transact all our
business with actual cash, by an actual
transfer of money in each separate
transaction. This is a grave miscon
ception and is the equivalent of the
banker's assertion that we do not need
more money because bank exchange
takes the place of money. Prices are
governed and controlled by the volume
of money in circulation and not by the
volume of orders for money, which is
all that checks and drafts are. Popu
lists should endeavor to arrive at a
correct understanding of this matter.
It is the truth that makes men free.
We never can build a true remedial
system upon the foundation of false
premises.
"Bank credits" or, otherwise stated,
"loans and discounts" represent money
due to the banks at a certain date,
such money being received by
the borrowers either in actual
cash or in the shape of a credit
upon the bank books, subject to check.
These credits, or loans, are so ar
ranged as that there averages each
day as great an amount of them due to
the bank as experience proves that de
positors are likely to check out for use.
And, besides this, there is de
posited each day about an equal
amount to that checked out It
may be added that all ship
ments of merchandise etc. shipped
from the east to the west and south,
create a credit that the east has in the
west and south from whom the debt is
due. On the other hand, grain, meats
and other farm products shipped east,
create a debt due from the east to the
west and south. "Exchange," or drafts
drawn by western and southern banks
upon New York and other eastern
banks, are sent in liquidation of their
debts, by parties who owe parties in
the east, while farm products are paid
for with eastern drafts upon banks in
the cities from which the products are
shipped.
Bear in mind the fact that no man
ever draws and delivers a check to an
other party, unless he has a "credit"
on the books of the bank upon which
the check is drawn, without rendering
himself liable to criminal prosecution.
And there are no checks drawn but
that the banks upon which they are
drawn stand ready to pay in actual
cash mouey, if a demand is made for
such payment Whenever a bank fails
to cash checks drawn upon it by par
ties it owes, such bank is said to be in
solvent and must close its doors. There
are never, in normal times, any more
checks presented in any one day than
the banks upon which they are drawn
could pay in cash, if called upon to do
so. Abnormal periods, called panics,
are caused by a suspension of this na
tural financial law and a rush of all
those who have deposits in banks to
draw out their money simultaneously.
The bank of Venice, having no money
and simply doing business with checks
and book credits and debits, was able
to continue for hundreds of years with
out a "run," or a panic, there being
nothing to run for and nothing to lose.
I have been very much criticised be
cause I wrote in my book upon govern
ment banks, the following statements,
or paragraphs:
"There is just now a great deal being
said about a 'cash basis,' whatever that
may be. We hear from many sources
of demands being formulated for .the
issue of sufficient money to transact
the business of the country upon a
cash basis.' It is being urged by many
reform writers that there should be
money issued to take the place of the
drafts, checks and bills of exchange,
with which it is said 92 per cent of
our exchanges are effected. It does
not, however, seem to be understood
that the use of a draft, or bill of ex
change, by no means necessarily im
plies the transaction of business upon
a credit
"Business is, in reality now trans
acted upon a 'cash basis,' and there is
never, at any one time, a greater vol
ume of drafts, or bills of exchange, in
force than there is money to represent
and pay them. The only difference is
that, whereas we now send remit
tances, in the shape of drafts, by mail,
if we had no banks we would have to
send the money by express, and there
would be, at all times, almost an equal
amount of money going in each direc
tion." My thoughts have recurred to the
foregoing proposition from the
fact that I have recently ran
across statistics absolutely proving
the truth and correctness of my asser
tion. The forty-second annual meeting of
the New York Clearing House associa
tion was held recently in the clearing
house at Nassau and Pine Streets, New
York city. The manager presented
his annual report of the meeting, from
which' the following statistics were
taken:
The clearing house transactions for the year
were :
Exchanges $ 28.2M.379.126.23
Balances 1,896,574.349.11
Total transactions 30,1(50,9)3,474.34
The average daily transactions:
Exchanges $92,670,095.49
Balances 6,218,276.55
Total '. .!,88,372.01
Total transactions since organ ization of clear
ing house (12 years):
Exchanges $1,073.513-1 17,948.31
Balances 49,463,653.582.83
Total 11,122,976,771,531.14
Largest exchanges on any one
dav during the year (July 2,
1895) i 194,637,038.70
Largest balances on any one
day during the year (January
1,1895) 16,027,133.59
Largest transaction on any one
dav during the year (July 3,
1895) 207,117,447.71
Smallest exchanges on any one
day during the year (April 13,
189.) 49,932,552.94
Smallest balances on any one
dav during the vear (April 13,
, S,07S,B3U.
Smallest transaction on any one
dav durins the vear (April 13,
1895) 53,008.183.87
The debit balanoes were paid in as follows:
U. S. gold coin t 50.000.00
U. S. bearer gold certificates.... 5.000. 0
U. S. order gold certificates 25,000.00-
Clearing house gold certificates l,S35,000.0O-
U. S. treasury notes 15.438.00O.0O
TT S lnral btiHr ort .IflnntM . - 1.009.41)5.000.00'
U. & legal tenders and change. . 870,318,349 .11
Total....'. 11,896,574,319.11 L
Transactions with the United States assist-
ant treasurer at New York:
Debit exchanges $243,982,953.29-
Credit exchanges 95.159,904.33' ,
Debit balances 119,559.822.46
Credit balances 1 ,739.773.50
Excess of debt balances 147,823,048.96
The association is now composed!
of forty-eight national banks and
eighteen state banks. The assistant
treasurer at New York also makes his
exchanges at the clearing house.
There are eighty banks, trust com
panies, etc., in the city and vicinity,
not members of the association, which
make their exchanges through banks
that are members, in accordance with
the resolution adopted October 14,
1890.
From the foregoing report we gather
that on July 2, 1895, there were ex
changes amounting to the sum of
$194,637,038.74. These "exchanges,"
as they are termed, are simply checks
upon each other held by the various
banks. The clearing house in New
York city simply saves the banks, each
of them, 'from carrying to each bank"
the amount of money they owe to it
and carrying away the amount of
money owing to them by it The busi
ness of the entire nation is done upon
the same principle.
But the existence of those checks by
l a : a t - .1 .1 M) ,
or that there is not plenty of money in
the New York banks to redeem them,.
or in the rest of the country, to use in
stead of them.
For instance, on July 2, 1895, the en
tire transactions of the New York
clearing house were as follows:
Exchanges $194,837,039
Cash balances 12,480,409
Total $207,117,447
At that date the associated banks
alone held $174,642,000 in specie and le
gal tenders, besides several millions
in national bank notes. So, then, they
had about $162,000,000 in legal tender
money more than the cash balance re
quired. The "exchanges," or checks,
being upon each other would, in all
probability, not change the relative-
amount of cash held by each several
bank to any great extent
"But," it will be asked, "who sent
these checks and drafts to the New
York banks?" I answer: "The banks
in the residue of the country." Could
they have sent the cash, instead of
drafts, if they had been required to do
so? Most decidedly they could, as they
held, li non the date named. about $375.-
000,000 in cash, or about 85 per cent ft
more than the exchanges amounted to, Ifm
while, at the same time, they received ' S "
a large amount of New York exchange,
which the .New York banks sent to
them, in lieu of the cash.
The foregoing tables and arguments
show that we are at present transact- l
ing business on a "cash basis," with
that question.
An evolution in banking brought the
clearing bouse. A further and greater
evolution must obviate the necessity
for a clearing house, by bringing all
the banks under one ownership and
management that of the people's gov
ernment Then a draft on New York
will be good at any bank in that city
at which it may be presented, and will
i . a i a ,j : : ... 1. ,
merely cousutuie a. cieum nciu un
books of the bank in its account with
the government.
Balances between banks would then
be settled just as balances between
monev order post offices are now set-
partment being the clearing house for J 1
all the banks of the people, just as the ' "
United States post office department is
now the clearing house for all the post
offices of tbe nation. Clearing house
loan certificates would then pass into
"innocuous desuetude," as even a gold-
certificate of deposit would be as good
as governmental paper money.
TH, L nWontiArc fri,n4 tn,
the present highly developed system f Ji
rf VinnkiniT cTwnt its nrivate nwnpr- tit
J. UUl C l. (L II IO UU WV.J.L...lil ...... I. . w , f.
' i i
ship. The system in vogue is probably
the best that will ever be devised ,
far as perfection in detail and ease ofA
operation is concerned, but it should
be operated by and for the people, at
the cost of operation. Then there
would be no danger of panics; depos
itors would be absolutely secured
against loss; a uniform rate of inter- 1
. . 1 13 1 . 1
est at a per cent or less wuuiu uc es- v
tablished all over the United States,
and monev would be shorn of its "pow-
CI IU JjJJl coo
The populists of the United States
should seriously consider the question
of governmental banking. It is an
issue upon which all the people can
be united and constitutes a demand
that would encounter but little op
position. It furnishes an easy solu
tion of the "money question" and is the
only method by which interest can
HAct-nnnH 'ha llmflhft rtinT.tfwm
should be amended at the next na- V f
tionai convention py siriBinj out ine '
demand for postal savings banks and
substituting therefor a demand for a
governmental system of banks of de-
posit, loan ana discount as me Deiier f
svstera" than the "sub-treasury plan of
the farmer's alliance."
liive us government oanKB.
George C. Ward.
A Friend to Silver?
In 1890 the democrats in 29 state con
ventions declared for free silver. They
elected a'majority of the house 28 over
all. Again in 1891, in 22 out of 23 states
where they held conventions, they de
clared for silver. The congress elect
ed in 1.890 refused to pass a free silver
bill after it had passed the senate. ( In
1892 they elected gold-bug Cleveland
president of the United States on a -J ,
gold-bug platform. They got a major- y"
ity of both houses and then proceeded y
deliberately to close the mints to the (C.
coinage of silver. Doesn t it look like '
gall personified to tell us that you can
get free coinage through the demo- f
cratic party? Pioneer Progress. '
i
n
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