The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1875-02-12
A GRANGE ON FINANCE.
A recent meeting of a Chase
county Grange, adopted the follow.

A recent meeting OF a Chase
county Grange, adopted the follow.
ing resolution:
Rsso5aAd, That the present national bank
system should be abolished. and the govern
ment should issue greenbacks instead. which
should be convertible into national bonds,
drawing low rate OF interest say three per
cent, and these honda should be again con-
vertible into greenbaeks; and that these
greenbacks should be loaned TO the people In
each state on real estate security. in proper
ton 70 the number of inhabitants thus secur-
ing 4 low rate of national interest and means
money ut low rate OF interest, com pelling the
capital that Is now absorbing the wealth Of
the nation In interest IL seek profitable en-
70 our material wealth aud population.
The issue of treasury notes ex-
changeabie at the pleasure of the
holders for bonds bearing r low
rate OF inter est seems to have made
deep Impression upon the farming
element generally; and there is in il,
perhaps, the germ of true reform,
but the entire plan presented above is
as vicious as it could well be. What
ever change is effected In our present
financial arrangement should tend
certainly toward a return of specie
payments-to making our currency the
equivalent of gold. If greenbacks
should be made convertible into a gold
bond bearing a low rate of interest,
the effect would be to make the green
back slowly but surely approximate a
gold standard. The proposition con-
tanned In the above resolution for an
endless round of greenbacks and
bonds, without check or limit in value,
and =. without redemption, is bad
enough; but worse one by fan is the
one following 1t, that the government
shall go into the banking business,
wholesale. Passing by the very obvi-
Gus and certain fact that the govern
ment could not carry or such a busi-
ness contemplated, except at great loss,
and al the expense of fearful corrup-
ton, let us ask the serious supporters
OF this proposition why thus limit the
operations of the government to the
furnishing of cheap money to who
ever may fancy he needs It? If the
Shylocks of the banks and curb-stones
are not to be trusted to loan money, by
what token can they be allowed to
"develop the country" building rail-
roads and factories, and getting up
corners in dry goods and groceries?
Do we want cheap money any more
than We want cheap freights or cheap
hardware? Perhaps, though, Chase
county Changers have all these things
In store for us, but fearing the shock of
q full blown millennium, are giving 1t to
us piece-meal. Certainly the climax
prophesled by the eloquent Peperage,
when ''eVery citizen should go nntaxed
and be supported at public expense"
cannot be long postponed, when the
government once gets a mortgage on
all the land in the country by the SIM
pie eXpedient of printing q few extra
millions of its promises 10 pay some-
thing when 1t gets ready!
The power of the Farmers Move
ment, rs an element of true reform,
has been proportional to the extent to
which 1t has been an honest protest
against class legislation, and in favor
OF such q Limitation OF the power of
the government as will prevent its in
reference in matters of private con-
Germ. Yet there has been an influence
In the movement, illogical If not dis
honest, which has constantly sought to
embark the government in private en-
terprises, and commit it to legislation
in favor of the agricultural classes.
Admitting that legislation has hereto
fore been against that class, still, it
was violation of a principle no great
er than that of now legislatlng i'm ia
vor of that class.
What all good citizens should do, is
20 insist that the government should
attend strictly to its legitimate BUSH
ness; helping no one, hurting no one {;
simply guaranteeing to each individu-
al his rights of life, liberty, and the
pursuit of happiness. If the govern
ment will do this and no more, we
shall soon cease to have cause of COM
plant about monopolies and PROSTATE
Industries.