JANUARY 29, 1903,
WfWiYiVAsViYi'fViWsV
Trusts The Cause and Cure
5
ISSUING OF PAPER MONEY A
; CURE FOR THE TRUSTS .
- The reason we have trusts Is be
cause the money of the country is in
the hands of only a few people. If it
were evenly distributed the competi
tion would not allow prices to go up
or commodities to be cornered. The
recent money panic will prove that
there is not now enough money in
circulation to run the business of this
country. If there is not sufficient
money now to do all the business for
cash, will it be possible to meet the
increasing accumulating debt of the
future? If one dollar will not pay
three dollars now, will it pay sixty in
a year from now, or six thousand in
ten years from now? Here is the
true explanation of money panics.
At the rate of two dollars of secur
ity for one of credit, which i3 consid
ered ample, we would have a volume
of paper money of $10,000,000,000, a
sum equal to one-half the total wealth
of the country, or about thirty-five
times as much as we have now, more
than sufficient to transact all business
for cash. The thing to do is to mak
this money accessible to all who have
security without discrimination, be
cause discrimination limits the volume
artificially and creates monopoly. By
the plan here proposed paper money
can be redeemed in any product of
labor that has a market value and
none can escape redemption. The low
rate of interest (about 1 per cent to
cover cost of printing, clerk hire, etc.)
will induce all who have security to
borrow and go into business. This
will result in the employment of all
labor at an advance in wages, be
cause of the enormous increase in the
available capital that will be forced
into productive enterprise. It is
therefore, the solution of the labor
question, because more capital seeking
labor means higher wages and le&3
hours of toil; competition which now
keeps wages down, because it is be
tween wage-earners, will then reduce
profits for capital because it will be
between capitalists. It will create a
demand for all products manufactured
and therefore benefit manufacturers,
merchants and business men general
ly, inaugurating a prosperity never be
fore known.
The plan for the inauguration of this
system, is to have a local association
In every city or town and a general
clearing house. The latter is tojiave
general supervision and to exclude any
association that does not strictly ob
serve the rules which it imposes; it
is to print and furnish all the cer
tificates of credit or paper money to
the local associations. Its paper mon
ey will, of course, circulate on its mer
its, but each borrower will have to
bind himself in legal form to accept
it from any one at its face value in
payment of debt and in exchange for
commodities without discriminating
in prices; thus its circulation is as
sured without the despotic legal ten
der feature.
Some one will say, "We tried that
before the war." No, free banldng
has never existed. The invention of
paper money which made possible an
enormous extension of credit, has al
ways been used in the interest of
bankers; but they have no more right
to this advantage than any one else,
THE VALUE OF CHARCOAL
and It is here proposed that It shall
be used In the interest of the whole
people. Paper money - is a form of
credit and no one has an exclusive
right to it The right of credit is de
rived from the possession of security
which one is willing to pledge, and no
one has a right to step in and demand
a bonus for the exercise of that right
The features of this scheme possess
enormous advantages and there is no
reason why the people generally
should not enjoy them as well as the
bankers. I am sorry that my space is
limited, so that I cannot give a clearer
and more comprehensive statement of
the system.
WALT CRONACHER, L. V.
No. 8 Oliver St., Boston, Mass.
(The Independent will "raise the
limit" if Mr. Cronacher desires to be
heard further on the subject Ed.
Ind.)
REFERENDUM AND INITIATIVE.
Editor Independent: Find enclosed
$1.30 for my renewal and three edu
cational subscriptions. It is my be
lief that I am the only subscriber you
have in McDonough. I enjoy reading
The Independent and do not know of
anv other whose editorials hit harder.
Speaking of trusts, their cause and
cure, I have but little to say as to the
cause, except if any man will explain
why we have in some parts of our
country highway robbery and stealing
to a greater or less extent, he will
have stated the cause of trusts. Their
cur-? as well as the cure of many an
other evil in our midst, will be brought
about quicker by the referendum and
ir.iUative.
If The Independent and other papers
can ever educate the people to a point
where they will quit worshiping the
f-.upremo court; if they can be made to
soo that any question of interest to
Ihe whole people can far better be de
cided by them than by any set of
men, however large we may write the
words "supreme court" before their
names, there is some hope.
A. B. PAUL.
McDonough, N. Y.
Few Peeple Know Hew Ueefal It Is In Preserv
ing Health and Beatify
Nearly everybody knows tbat charcoal is the
safest and mostellicient disinfectant
fier in nature, but few realize its value when
taVen into the human system toe the same
cleansing purpose.
Charcoal is a remedy that the wore yon take
of it Mia better; it i not a ret all, tout simply
abtnrhs the, rase and imNnritias alwava
ent ia she stomach and intestines and carries
them eat of the system.'
Cfeerroal sweetens the breath after smoking,
drinking or after eating onions and other odor
ous vegetables.
G'kareeal effectually clears and improves the
complexion, it whitens the teeth and further
acts as a natural and eminently Safe cathartic.
It absorbs the injurious gases which collect
in the stomach and bowels; it disinfects the
month and throat frem the poison of catarrh.
AH druirgists sell charcoal in one form or an
other, but probably tbo best charcoal and the
most for thfl money is in Stuart a Absorbent
Loienires ; they are composed of the finest pow
dered Willow charcoal and other harmless an
tiseptics, in tablet form or rather in the form of
large, pleasant lusting lozenges, the charcoal
being mixed with honey.
Tke daily use of these lozenges will soon tell
in a mnch improved condition of the general
health, belter complexion, sweetr breath and
purer blood, and the beauty of it is, that no
possible harm can result from their continued
use, but on the contrary, great benefit.
A Buffalo physician in speaking of the bene
fits of chareoal, says: "I adtise Stuart's Ab
sorbent Lozenges to all patients suffering from
gat in stomach and bowels, and to clear the
complexion and purify the breath, mouth and
throat; I also believe the liver is greatly bene
fitted by the daily use of them; they cost but
twenty-five cents a box at drng stores, and al
though in some sense a patent preparation, yet
I believe I get more and better charcoal in
Stuart's Absorbent Lozenges than in any of the
ordinary charcoal tablets.
LAND VALUE TAX.
Editor IndeDendent: We see by re
cent issues of your paper that you
ask for ideas for the cure of trusts bv
your subscribers. We see by the va
ried tneones advanced tnat tnere are
as many remedies advanced as there
are social ills to cure.
In this dav and ace of the nrenol-
lence of wealth and rapacity of the
DOlitician manv are in somewhat of a
muddle as to what would be a real
solution of the many social ills. But
a close study of political economy will
reveal that the foremost theories con
cerning the regulation and distribution
of wealth deals not so much with the
production as to its distribution. Po
litical economy does not consist in
robbing the many and bestowing the
illicit gains of the few that is larceny
and owes its origin in the idea of
kings' "divine right"
An economy that does not comnre-
hend the constitutional right of each
citiaen and realise that the individual
right of every citizen cannot h
abridged, falls far short of being an
equuanie economy.
LAND VAEUE TAX AS A CURE FOR
TRUSTS.
Under this head we wish to impress
the reader with the idea of its power to
tax the property of every land owner
in exactly the same ratio. Now sup
pose for an illustration, we put a tax
of two mills on the value of all lands.
In advocating thi3 tax, we advocate it
as only one kind of tax. We have
school, bridge and road taxes; fran
chise, inheritance and a variety of
other methods of raising the revenues
for expenses of governments. The
great beauty of this "land value tax"
is that it is so easy to apply. We taVe
as an example land valued at $15 per
acre; a tax of 2 mills would yield 3
cents per acre. Land valued at $100
per acre would pay 20 cents per acre.
But when we come to site values in
cities, which range from $100 to $30,
250 per acre, then we can readily see
that such tax will not fall very heavy
on the small home owner, but that
class which controlls valuable priv
ileges, based on land, will not escape,
but will have to pay a land value tcx
as a compensation to the community
for the enjoyment of such privileges.
In this community farm lands are
valued at $43 per acre, or a levy of 2
mills on the dollar valuation is 86
cents. A village in the same com
munity has lots valued at $25 per lot,
or $200 per acre, the same "land val
ue tax" would give 40 cents per acre.
This same community has a seven-foot
vein of coal; allowing 10 cents per ton
as net profit, the value of this coal
right is $700 per acre; 2 mills on the
00
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dollar would be $1.40 land value tax.
A few days ago a man in Pennsyl
vania sold a nine-foot vein of an
thracite coal for $1,000 per acre land
value tax, $2.
Tax statistics gathered in Pennsyl
vania show that the coal operators
pay taxes on their coal-bearing lands,
on the agricultural value of such land.
These lands have only about $3 per
acre agricultural value, but coal rights
have an average value of $3,000 per
acre the state over. Mr. Schwab says
the Connelsville coke fields are worth
to the steel trust $60,000 per acre.
Such a valuation at two mills on the
dollar would yield yiO per acre. If
we understand the fundamental prin
ciples of monopoly, and that can be
readily seen, is to control the source
of supply, that is, own the land which
produces the raw material. With that
understanding in view, the steel trust,
which controls 80 per cent of the iron
producing land, would naturally en
joy a monopoly of the steel industry,
but the trust is only able to use 00 per
cent of its holdings; 40 per cent of
the holdings of the trust are held not
to use, but to keep others from using.
The capital of the steel trust is $1
450.000.000; allowing $550,000,000 for
HEADACHE 1
i J !'! " mm 1 u " ut B
A iU drug ctorca.
2S Dmi 25c.
5
SAD
HO&SE COLLARS
W
BEFORE. YOU BUY.
MANUFACTURED BY
HAIrPfiAPI B&05.C0.
Lincoln. Neb.
the cost of sites and equipments, there
would be $900,000,000 in ore producing
land. A "land value tax" of 2 mills
on the dollar would yield $1,800,000 as
a tax on such holdings.
We believe that our readers can
grasp the idea that a "land value
tax" is easily applied; that it only
deals with visible property. A "land
value tax" deals with location and site
values. The location of a farm, that
is far from market, lessens its value;
"site values" deal altogether with city
property; as an example of this, Mont
gomery, Ward & Co. of Chicago paid