The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-01-11

that the people of the west and the people
of the east wish to exchange their products,
The farmers wish to exchange wheat,pork.
sheep, corn and wool, for the cloth, leather
hardware, and all other articles manufactur-
ed in the east. To effect the exchange is
the object of money. Now it is entirely pra-
cticable for the government or all the peo-
pie, to furnish themselves with medium of
exchange, for the use of which they shall
pay no interest, or they may let the bankers
furnish it for them at the rate of from ten to
twenty per cent interest, which amounts to
taking a slice of value from each product
placed in the market for exchange. For the
slice thus obtained the bankers give no
equivalent, but simply receive it as royaHy
derived from our ignorance and their snre"d-
ness in imposing on US gold base.
According to the present system OF money
(tbe GOLD base system) the bankers only
take twenty cents a year out OF every dollar
of value exchanged in the markets of the
United States, for which they give no equiv
slent whatever. The greater the prosperi-
tv of any country the more rapid must be
her exchanges. If the rate of interest was
twenty-five per cent on money, it would cost
the people one-fourth of their products to
make the exchanges, which would reduce s
to the necessity of bartering as much as pos
ible. The lower the rate of interest on mon.
ey the more it will be used in making the
exchanges-the higher the rate of interest,
tho less it will be used.
Then we wish the reader to keep continu-
ally in view that the legitimate use ofmoney
of this nation should be circulating credit,
and thus:
UNITED STATES OF AMERICA.
Public money and medium Of exchange s..
The holder of this money is entitled to s.
of public and private credit, within the Jurisdic
tien of the United States of America.
Signed, --
This money should be issued only to pay
the debts of the nation. If at any time there
is more money in circulation than Is needed,
the question shall be submitted to the peo
pie at any general election where the quail
| fed voters shall vote what per cent shall be
taxed out of use.
The whole people should rule themselves
and their money.
In business there is more money needed
at sometimes than others. To obviate the
evils arising from too much money, the gov
eminent should keep public repositories in
all of the great commercial cities, and bust
ness centers of the nation and when any per
son had money he did not wish to use they
should be entitled to demand at the public
depository public credits, equal to the
| amount of money delivered to the deposito
| ~. The public credit might real thus:
UNITED STATES OF AMERICA.
Public Credits, s.. The holder of thi:
public credit is entitled to s., of the publ,
| money and medium of exchange of the United
States of America, payable at any public deposi
| tory, three months from date. -.
| Signed--
To carry on this system of money woulC
cost the people about one per cent per an
mum the first year after that, about on,
half of one per cent.
And if adopted it would do away with tn,
necessity of bankers, shoddy, shinplasters
and gold base, and of these stepping between
honest producers and making them pa,
royalty for the use of the bankers credit q
rate of ten or twenty per cent, when the ma
tional debt may be turned into public credit
and furnish an eminently better money with
out gold base, but based on the principl,
of sovereignty in the people and not sover
eighty in the banks, or moneyocracy.
Adopt this system of money, and thu
| scriptural declaration to mankind "by th'
| sweat of thy brow shall thou eat bread, vii
| be carried out, as all must then follow som,
| usefal employment, or be supported in thu
| poorhouse or prison.
The object of money was not to produce
or at least should not be to produce value
but merely to exchange value,
We find no half way ground between RICH
| and wrong. If the object of money is tC
| produce wealth for those bankers who kindly
| lend us their notes, that we Americans may
make our exchanges, and they take only {
tenth legally for the accommodation and
''chance i'm on the steahngs, We are led tt
| inquire in what does our intelligence as
people consist? Certainly we are not sound
! on political economy. The foundation o
the value of money is, that it is a medium o
| exchange; its Office is to exchange values
and not accumulate value. We should
| only pay for the use of such things as weal
out by use. Money, when properly made
| and systemized, will never ,cear out, and
should be put in circulation to save taxa
| ton, and when too plenty should be taxed
| out OF existence 1t is an accommodation
| an agent of trade in which all are interested
is a part of the sovereignty of the people
! to perfect money will be the foundation of
| perfect sovereignty or the people. An i'm
| perfect money system like ours, indicate:
| lack of honesty, or lack of capacity in those
| entrusted with that part of our governmental
system, which can only be remedied by the
| reconstruction of our whole monetary system
| and establishing it on principles of natura
justice and sovereignty in the people. Oul
next will treat of money the legal means of
payment.