The advocate., 1890-01-30

1. Money Is q device-a tool OF trade.
It's Office is 10 facilitate and perform OK
changes Of real wealth, stimulate indus
tries and build up commerce.
2. II is absolutely a creation Of law, for
wlsQteyer tho supreme authority of state or
nation docroes 10 be money, that Is the mon
ey, and only absolute money.
In the United States, congress determined
by enactment whatshall constitute the mon
ey OF the Nation-that is the people. ''Tho
whole people, creates all the money coined
or stamped by the United States govern
ment and bear all the expenseof its creating
hence should receive the benefits arising
from lbs creation. In order 10 give tho
whole people equal advantages, or benefits
II becomes necessary that II be placed within
tho reach and ability Of the people to use IL
when needed, upon such terms and condi-
tions as might DO prescribedj obtaining IL
direct from tho government without tho in
teryention Of banking corporations or in
termediate agencies, alta nominal rate of in
terest, such rate 10 be determined by tho
government, basing the maximum rate up
on the mpximum net increase of the wealth
OF the whole nation, viz: II the per cent. net
increase OF real wealth in tho entire nation
does not exceed given per cent. per anEum
as shall appear from the censusreports, then
the maximum rate Of interest drawn for tho
ensuing decade shall not exceed such per
cent. net increase.
VOLUME.
The volume should be determined by tho
volume OF commerce, or per capita Of pop
ulation, Mt all times, should be sufficient TO
transact the business Of the country upon
spot cash basis. Tho volume should be in
creased as commerce and population in-
creased.
PUTTING IN CIRCULATION.
We advocate the establishment Of deposi-
tories by the general government in each
state and territory, convenient for the peo-
pie, such depositores TO be supplied from
the United States treasury, with the money
apportionod TO such state, territory or dis
trict, and TO serve as banks Of discount and
deposit; then establish the postal savings
system, acting in CONJUNCTION with such de-
positories, thus placing banking facilities
within the reOch Of all, and national rate
Of interest, such as labor could pay without
pOuperizing IL, as is the case under our pres
ent system.
LEGAL TENDER.
We hold that all money, either metallic or
paper, issued by the government, should bo
legal tender 10 any amount
ADVANTAGES.
1. A steady supply of money q More
steady prices for labor and its products. 3.
An increased demand for labor. A. Better
wages. B. Giving tho producers Of wealth
chance to pay off the debts imposed upon
them. 9. Drive money capital TO 20 TO work
with their money to obtain increase, instead
Of squeezing tho life blood out Of the pro-
ducers Of the wealth, as they have done and
are now doing Z. The interest being paid
TO the government, the people would receive
the benefits instead of corporations, syndi-
Gates and individuals, as is now the case. 8.
Syndicates could not control prices to create
panics TO the ruin of the people.
There are many other reasons why the
people, through their chosen Legislators,
should provide by law the money of tho
nation, for the use and benefit of the whole
people.
z. b. MAxsoN.
For snfo and certnin romedv for foror