Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1871-06-06

which will bear interest. Those who NAV
not wish to purchase property or to pay debts
with their TTORey, can always loan it to the
iHstitlHiOE for q safety fund note, bearing an
interest OF one per cent per annam. There
fore the money will always be good for it
will be the IeJdLteRder for debts and property,
and can always be invested to produce an iR-
come.
The money being loaned at one and one
tenth per cent, aud the ISgJeIy Fund notes
bearing but one per cent, the difference of
ten per cent. in the interest will induce own
ers Of money to lend to individuals, aud thas
prevent continual Issuing aud funding Of
money by the iRstitRtiOn.
The Safety Fund notes are made PAYABLE n
year after date, to prevent the unnecessary trou-
BILE OF funding money for short periods. It is
not probable that the iRStituGiOR will issue
notes for 4 less amount than $500. People
having small amounts will seldom wish to
fund them. They will loan to individuals or
purchase property. II, however, it be deem.
cd desirable 10 fund small amounts, they NAV
be received, and credited in a small book, as
in Savings banks, and the interest paid upon
these credits US upon safety fund notes.
Having given an outline and brief expla>
nation Of the proposed system of currency,
we will proceed to show that the money is
sued by the SGtety Fund will possess all the
properties, and capable of performing all the
functions Of money. We. have said in our
description Of money that it must be a rep
TcSeMtGtiUe of property. The safety mud
money being leased on productive landed es-
tate to double ats amount, will be an un-
doubted rCPreseHtdtiCe of property. Second,
money muht have power to accumulate. The
provision made by the safety Iun6 for fund
inJ the money will secure an income beyond
all contingency. Third, it must have power
to measure value. The SAFETY Fund money
will not only possess this power equally with
coins, but it will possess the additional quality
OF being uniform and perfect measure BY
establishing n UNIFORM rate of interest, the dol.
l6r will be of iuvariable value. and cannot be
made to huctuate more in the measure of
property than the yard.stiOk in the measure
of cloth. Fourth, it must have power to er,
change value. Being instituted by the gen.
eral government as the legal tender, and its
income established, all persons will be COM
PEELED to receive it in exchange for property
and labor. We have elsewhere shown that
any portable substance possessing these prop.
critics will be money. The ISGteIy FUnR-
money-will possess all the properties adapted
to its use as money that belong to coins, and
can be counted and carried with greater con-
venience, and can be more easily transmitted
from one section of the country to another
The effect of its adoption will be to auuihi-
late all difference of exchange between diff
iercnt commercial points, or to reduce it to
the merely nominal expense of letter post
age"
As many persons, who fully agree with me
in the principles advanced in these articles,
have urged me to give the plan by which
they could be made effective, | have above
quoted for their information the system of KeI-
log. Ii rs prominently plain, simple. and
practical; aud would, il adopted. relieve US
of almost all tho troubles with which we are
now surrounded, and which hang like dark
clouds over the future Of the country. 1t is
certain that no monetary system could be
worse than the present, which, in its working.
and as direct cause, has consigned the earn.
inGs off oTLy millions of people into the hands
OF about t'cO millions, aud is day by day max
ins the poor poorer and the rich richer.
OBSERVER.
Summit Point, Jefferson CO., W. Va.
June l, 1871.