The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1876-04-19

- +. =. Olt HIS WOlAuE xSnPledAs ~
it amounts to"more7than his profits
and expenses: +.%s' ~ s<i T., ,.,..is: !
But how, can this interest rate be
reduced2 Why let the government
buy with g,,r,eenbackas, after first max
ing these a full ,les1 tender for the
payment of duties, &C., the bonds
used as basis for the national
bank notes, giving for them their
valuation, ~ e., the premium, and re-
tire the bank notes. This would
initiate the presen, volume of.curren-
cy> to the extent Of about say, $780,
100000 and hardly produce pre-
ceptible effect: The next step would
be to purchase additional bonds in
the same way and to pay official SAL
aries in greenbacks. When the in
f1ation reached a point where too
great depreciation was likely to re-
sult,- then prepare the, 3.65 bonds for
the Investment Of the excess; and
let this process continue until the
entire debt is absorbedin the green
backs and sos bonds.
+ But we imagine that the editor of
the Republican and tie hank direct
o.: avAo giges Jim lis points and sta
tistics have :aleady elevated their
hands in horror an; are exclaiming,
a0Aat 7voula sbecome- Of the gold?
We will look after the gold hereafter,
only assuring you now that there
would be.enoughl left to make breast.
pins and fnger-rings. What would
become oft'the II p. 6, interest is
the question which most interests
the people, and we are satisfied that
money lenders would only get half
Of 1.-THE remainder would be added
to the. profits Of, the laborer, the
7 farmer, the merchant and the man
engaged in any legitimate product
i've and dispensing business.
Instead Of the money lender doub-
-.
ling his money in eight and a third
years, or foreclosing and taking the
paid up interest: and the farm with
all the improvements, he would have
to wait sixteen and, .twosthirds years
for his 1oop. E, and pound Of flesh
with the. blood which might be spill
ed thrown in, OF course, plenti+
fuls supply: of money must make,
money cheaper, and cheap money
is essential to carrying on those en-
terprizes which are required to de-
yelop the material wealth of the
country. But plentiful supply Of
money reduces interest, this is not
agreeable to money, lenders, and
noneylenders have made themselves
50 necessary to. party leaders that
the latter sustain their views and
party papers must support that side
Of the question or incur disapproval.
How do they do it? They admit
that there is not gold enough for
currency, while they are denouncing
greenbacks as "rag-money." What
substitute do they propose? Ma
tional bank notes! They would
make you believe that it is safer to.
trust Tom, Dick and Harry, who
may happen to have bonds enough
to start bank, than it is to trust the
government of the United States!
And that, too, in face Of the fact
that these institutions are constantly
bursting up* and swindling honest
depositors out of all their means!
Out upon such deceit, or such igno-
rance! IF you will sell yourselves
for slaves, dye your faces and let us
believe that you are blackamoors. "
To be continued.
*The First National Bank Of Lacrosse
failed about ten days ago, and it is said will
not pay ten cents on the dollar.
Our neighbor of the Republi-
! 80 .,.Lo - ana of<hoeo oru1ito ord