The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1872-05-30
CHEAP MONEY.

II Tic Eeploiican III ehtisn si--t - ~ -
semble in J June a: Philadelphia is wise, II
will engrait into its platform the policy oil
cheap money by general reduction oi TIE
rates Of Interest all over the country, begin
ming with the Governor; first. Money Is
too dear. The necessities Of labor and bust
| uess Of all kinds are struggling under its de-
spotic pressure, and will continue to do so
| as long as the present exhorbitant premium
on money continues. Productive industry
will never receive its just share until this IN
equality is broken NJ.
The use OF money should never com
mand higher price than laeor-
the basis and ioundaiion 0: all wealth. Inc
system of low rates Of interest Il no new
idea, but practical fact lo1g since demon
s,ra,ed in Europe, and il is a shame and an
imposition on the free business Industry oi
this country that Tic rtyerse las been prac-
,iced here 80 lcng., There is nothing wrons
with our collaierals, Tar ahead oi any IN the
world but the fault rests with the govern
ment itself, which, by its present system,
gives encouragement for speculation in lis
own necessities. This is one OF the evils thar
the Republican iar;y must take hold oil, ana
nothing will be 50 consistent with It's broad,
liberal .mission as the establishment oi sys-
TEN that will give us cheap money.
We take the foregoing from the Washing
ton Chronicle, the central organ Of the present
administration, ard we rejoice to See this
much needed reform in our financial system
ey n thus remotely fareshalowei. The
great bane Of the industrial interests oil
the United States, ard the one great
obstruction in the way OF cur national deyel-
opmeni, is the high price O! money. How
the difficulty Is 10 be obyisted or removed is
a question ior our statesmen, and those en-
trusted with The keeping oil the poiitica!
health o the nation, TO solve. Ne presume
Mr. David \. Welies would ;eil '.s that the
nd which hangs this milestone about the
nec.; of our national industry coT'd he sue
css:iuliy and suminari!y severed BY the
keen edge OF iroe-;rade, while DR.. Greeley
would no doubt prescribe, As a sovereign
balm FOR ,i.is and al The other ills tiat be-
tide our body polite, his universal an;ido,e,
high protective tariff. And while the
doctors disagree, sa r@i:a-.y, who shall de-
eide? Ii has been cur own settled convic.
ton, for years, tina; our whole naiona. linan.
cial system has been ON the wrong track
ever since Mr.. Cksse switched Us Of, from
preenbacks on 10 national bank nutes. BY
this ac: he opened the way through which
capitalists were and are enabled 10 realize
double interest On their money, by investing
in bank stoc; ever since that time the price
OF money has KEN too high, anG We don,
know OF any way 10 bring it down ayain, To
healthy standard, hat TO retraee the wrong
STEPS taken, and so hack 10 where We
started 50 lar, At least, ST 10 do away
with the present discrimination by
the Government in favor of capital and
against labor. Let the national
deb. be funded in bonds b,arias liz. over
FIVE per cent. in currency. le, the banks be
based upon bonds bearing no. over three per
cent, without any exemption from taxation,
national or local, and let all classes OF gov
ernmen. bonds be convertible into S. cur
rency, or ''sresnbac.,s, at the option of the
holder, and we shall then soon have all the
money TIE commercial Interests demand
and wheneveT the supply becomes equal 10
the demand, the prize will reach lis proper
level
We arc well aware that this Is not ''0riho-
dox" Republican doctrine, but it is doc
trine supported by the memorable logic OF
facts, and the time is no, fir ahead when the
party viii be compelled TO recognize it.