The comet. [volume] (Jackson, Miss.) 1877-1882, 1879-09-20

A Letter on Finance From II Htnds
County Farmer.

A letter on Finance From u Htnds
County Farmer
"IF HAD CONTROL OF THE FINANCES OF
THE COUNTRY"
TERRY, Sept. l, 1879.
To the Editor OF the Comet:
see in your issue of the Goth August,
an article on the three currencies-gold and
silver and paper promises to pay-all issued
by the Government. The paper money is
in reality of more value than the metal, as
it is the vehicle by which the metal is con-
veyed from one portion of the country to
another. Now, if I understand the Con-
stitution, it is the duty of thesGovernment
to regulate the currency, not for the benefit
of the money trader, but for the protection
J of the people against such money dealers.
Since the agitation of this money ques-
ton, an idea has presented itself to my
mind, and that is what is called money is
the controlling influence over the the peo
Pile of the civilized world. The real value,
the producing quality of nature, is made
subseryient to it; or in other words, the
labor and land are made subject to the
money power, which from human nature is
and will be used for its own interest, let it
cost others what it may, and by 1t the money
power is controlling the nations of the
world.
Money, when analysed, means nothing
more than a representative or measure of
values, whether it be gold, silver or paper
money. Now the Government, from the
nature of things, having the power to reg
ulate all three currencies and make them
equal in value, it is duty she owes her
people to adopt policy for the benefit of
all. Now the great question agitating the
public mind, and on which the people want
light, is what financial policy should be
adopted-as change is absolutely need
ed. Party names may remain as they are,
but change of policy on the money ques-
tion must be inaugurated to suit the wants
and necessities OF the people.
Now if l had control of the finances of
the country, l should reason about in this
way The Government represents the
people and their property; or is the people
and their property, worth some 800, ,000,-
900, 900 more or less, and from the folly of
the people the Government is in debt over
81, 900, ,00), 900 add to this amount State,
county, city, corporation and individual in
debtedness, will swell the amount to
some $4,000, 100000. This whole in
debtedness is represented by paper prom
ses to pay, i'll some shape or other,
on which the money dealers are operating
and collecting interest, which | suppose will
average some per cent per annum, mak>
ing the sum of $300,0O0,OO0 annually
out of the people. Now, what is the course
for the government to pursue to relieve her
people from the money dealers? Something
must be done, as ii is evident the country
cannot stand the present drain on the land;
it is being cropped every year, and COM
paratively nothing put back on it; and it
takes all the net earnings to pay the inter
est account, We are becoming poorer, and
poorer every year.
Here is the cancer that is eating up the
vitals of the country, and L think the fol-
lowing course would cure the disease
We have now in circulation about $780,
900, 900 paper money; and there is in the
treasury about some $500, 900, 900 in specie.
The government can float three dollars in
paper for every dollar in specie; which
would enable her at present to issue $780,
600, 0000 treasury notes. With this sum, buy
$3.50, ,OOO,OCO gold and silver bullion; coin
it, and on this issue $3.50, ,OOO 600 in treas
ury notes; call in $500, 100000 of her
bonds. With the remainder, $3.50, 900, 900,
buy $3.50, 100000 gold and silver bullion,
issue treasury notes on the credit of this
sum; buy up more bonds, ETC., and cons
tinue said process as long as the peoples
should collect interest on what bonds she
might hold, and issue treasury notes on the I
same as necessity might require. And
should the money dealers make war on the I
government bank, the government could
ouy up the cotton and tobacco crop of the
country, convert what portion of it she {
'hoose into foreign exchange, and by that
means conquer peace, etc. {
If any one has better plan for the re-
ief of the people, please let us hear from '
hem. 1 do not want anything done that
will tarnish the credit of the government t
II her people, as it is credit that runs the i
vholo machine; and the cheaper that credit 1
) the better for the people II. a