Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-07-31
A New Money Scheme.

The proposition of the Knights OF
Labor, to congress, to have government
loan offices established, where all the
people can borrow money, is good
thing and should be adopted. They
want national and private banks abo.-
ished, and the government loan offices.
presided over by an official appointed
by the president, do all the business
now done by the banks, loaning money
at a regular rate of interest. This plan
seems one that would fill Il want long
felt. As it is now. a man who goes TO
the bank to borrow money has 10 con
vince the banker that he is all right,
has property, and will pay. If he has
no property except his word, he has TO
get some one who has property TO sign
a note with him, and who has got TO
pay. if the borrower does not. If man
has no real estate, and has personal prop
erty, he can raise money on it by Civ
inc a cut-throat chattcl mortgage on the
same, at high rate of interest. with
chance that he will lose the property
mortgaged, if he does not watch out
prettT close The other method is 10
take something TO a pawnbrOker and
raise money on it, and append the money
and lose the article pawned. The new
scheme will make the government the
banker, the chattel mortgage shark and
the pawnbroker, all combined. Then
the millennium will have come, because
it has got to be understood that all the
people are to he given money when
they ask for it. whether they have any
collateral to put up or not, for if they
have TO give security, the government
cannot be more generous banker or
pawnbroker than private individuals.
Certainly the government does not
want to lose, loaning money. and
it has got to have the same
safeguard as the private individuals.
1t is hardly expected that the govern
ment is going to give out money to q
man who simply admits that he is hon.
est, and will pay some day. The man
NAV think he will, but when the time
comes he may find il impossible. In
such case who would lose? Ii may be
said the government should lose. and
make it up by taxing the people, and
divide the money pro rdtdo If the new
scheme works. only the poor will be
borrowers, and when the government
loses, and the loss is made mp by taxa
ton, the poor who have nothing, of
course, can't pay any tax, and 50 the
rich will have TO pay it. Then why
not, instead of beating around the bush.
by borrowing of the government, and
failing to pay, and having il made up
by taxation, just assess those who
have money, on the start, and divide it
up. Then you will get right down TO
Communism the first jump. instead of
getting to it in a roundabout way? 1t
may be said that the government can
make the money. and loan it TO the peO-
pie. Yes, but that money has got to
have some foundation of value. 1t
must be based on gold or silver in pos
session of the government, or the pow
er of taxation. But condemn the tnan-
cial question, anyway. The Knights of
Labor think they know what they want
but the ablest men in the world have
studied the question of finance until
they are gray, and bald, and blind and
deaf, and they have not learned the ru-
diments yet. Nobody can lend money
successfully without gett 'ng fair inter-
est, and the priscipdi back, and gov
eminent cant, certainly. The best
way is to patrOnize the regular old-fash-
toned bank. or pawnbroker. until you
make enough 70 run a..bsBk or pawn.
shop yourSelts of a rcan. gives him
to somebody else.-Peck sun. IT