The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1881-03-18

Speculation in this class of securities
would be practically impossible, but if
any occurred, the benefits would inure
wholly to the multitude interested,
and not as now go exclusively into the
pockets of a few wealthy operators.
Such securities could never fall below
par, because payable on demand, and
rarely rise above, because of the my
riads of holders.
The people stand ready and are will
ing and anxious to absorb the entire
public debt, if permitted to do so.
They ask no premiums and they would
require only the lowest rate per cent.
fixed for bonds to induce an invest
ment of their entire surplus earnings
in national paper. Nor do they ask
any exemption from taxation or other
immunities for such loan. They ask
only absolute equality and special fav-
ors to noEe. They are ready to take
and hold the entire debt whenever a
chance offers and that chance can only
be secured by postal savings system
Wha occasion has the country to is
sue bonds and permit them to become
tbs sport of markets, when the same
e1d can more easily and cheaply be
Preached by simply providing system
whereby the government can receive
the voluntarily offered surplus earn.
ings Of it's citizens? Why make such
issues payable on long time, when, by
a simpler plan, portions of the debt
can at any time be paid at its face val
ue? Why not take the surplus money
of citizens at large, and use it instead
of the money of large capitalists
whose interests are in opposition to
those OF the great mass of society
Why should we borrow large sums of
the few, on terms dictated by them.
when the same aggregates can be OBJ
tanned of the many. leaving the Gov
eminent at all times free to control its
own financial politics. without inter
ference from any quarter.
But | need not here 60 much into
details, as on former occasion, when
first presenting this plan, I discussed
its bearings at considerable length.
When for any reason the government
needs money, the only question worth
considering IS, how it can obtain it in
the cheapest, simplest and most eco
nomical manner, in such form as will
secure the greatest benefit to all cti-
Zens. Plainly and obviously the best
plan is to allow the economical and
industrious to loan their surplus at
rates depending on no market quota
ton, but fixed by the government it.
self. This at once would do away
with all syndicates, all gambling at
stock boards, all venal combinations to
extort unconscionable premiums. It
would put the national debt in the
hands of the nation, under its absolute
control at all times; for the people are
the nation, and their interests alone
should control.
That it would insure absolute safety,
lead to close economy and industrial
saving, increase the general wealth,
keep at home and in circulation the
money of the country, foster enter
prise, promote prosperity, elevate pow
erty and give it a new hope, are re-
suits that no one who has given the
subject examination will dispute; and
that the system is in all senses better
than any bonded system may we'll be
conceded.
To secure such an end, and speaking
for Wisconsin as its legislature, we
ought not to hesitate to memorable
congress again and again, if need be,
to adopt the system of postal savings
banks, whereby the surplus money of
the citizen becomes directly the basis
of public financial credit, and the debt
of the country is converted from a
curse into blessing.