Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1890-09-26
$i.oo PER ANNUM.

$i.OO PER ANNyJlvl..
subject did not interpret the word in that
way. On the contrary, the word 'coin'
means make" or ''create"-that was
the definition placed upon the term by
Judge Tiffany of the New York supreme
court.
No business man has ever disputed the
statement that more money, a greater
volume of currency was needed to carry
on the business Of the country upon any
thing like cash basis. Yet the republic
an party in its recent silver legislation,
had actually demonetized silver.
The government has right to make
money out of anything it chooses, and on
this theory the paper dollar is just as
good as the gold for if it were not for the
government stamp upon the gold it is not
dollar. Mr.. Loucks proved this by the
statement that if a man take and hammer
out the gold in gold dollar SO as to en-
tirely oblitterate the government stamp
upon it. then recoin it himself and pass
it, he would be liable to the law punish
ing counterfieiting as much as he who
makes a paper dollar.
In regard to the matter of government
loans Mr.. Loucks said that this was no
experimenting according to the sub
treasury bill nor the Stanford bill. The
4 ~
government had been loaning out money
TO the national banks at one per cent in
terest for twenty years or more and the
farmers should have the same right If
it is unsafe to loan money out Of the ma
fticnsl treasury upon resl estate security,
1T is not safe TO loan the 4sccunnulationa
OF the state school fund upon real estate
security. Yet the law authorized the;
state to do this. Moreover, if the other
is unconstitutional, Why 10 not this?
Mr.. Loucks called the attention Of, his
hearers to the fact that IL Christopher
Columbus, when he first landed in this.
country four hundred years ago, had
started bank with . capital Of sne.
dollar which he had placed out at interest
up to tho present it would have sccumu-
lated more wealth than the entire wealth
OF the United States today. This showed
that per cent interest is too much for
money and that this would soon ruin the
country. This is one thing that has
brought you farmers to the present con
dition You have paid tribute to capital
SO long that they roll in luxury and
wealth while you can't even wear decent
clothes nor educate your children as you
ought. While the republican party was
denouncing the principles Of the in
dependent party. F. w. Smith, in COM
menting on stringency in .the money
market, recently said 4'the govern
ment is a hog. There would be no need
of any stringency in the money market, if
the government would give us enough
money to do business with" This was
great financial authority and yet it agreed
with the teachings of the independent
party. But if Loucks had said .,'the
government is hog" the papers would
all say that Loncks is Anarchist. Great
laughter and applause.
The papers all said that Loucks was q
very bad man. He would admit this,
also that he was a crank, a rascal an
office seeker. He would admit all of that
and if any one had occasion to doubt this
he could prove it by reference to the Can
ton Advocate and Sioux Valley News.
| [Great Laughter.
NO FUSION WITH DEMOCRATS.
Touching upon the question Of fusion
with the democrats which had been rails
ed, he said he would dare any man to pro-
duce the proof that therewa one word Of
truth in this whole statement The in
dependent party was organized for prin-
pie aud the men who had been nominated
would be elected. The independent party
would stand by Frank Leavitt until the
last no matter how often the republican
papers claimed otherwise. Great and
enthusiastic applause. Mr.. Loucks
spoke for over two hours and was fre-
quently and heartily applauded. Owing
to engagements elsewhere, Mr.. Zipp.
could not be here to speak.