Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1890-12-25
that the rate could be considerably reduc-
ed, The plan had been compared to a
system adopted in the Argentine Repub-


ed, The plan had been compared to- a j
system adopted in the Argentine Repub-
lie, said the senator, while there was in
truth no analogy between them. To
compare the working of the measure Of
that republic, Of say million people, to
that Of our own country, with its enlight-
sened go millions, is like comparing the
methods OF some irresponsible banker to
those Of the Rothschilds. The bill was
then referred to the finance committee
where, it is isexpected, it will rest until the
farmers, who havesa direct interest in the
measure, learn to think enough Of their
welfare to send men Of their own class
and kind here to bring it tolife again.
The republican congressional appro-
-tionment bill pending in the house will in
all probability pass as it now stands.
Its adoption will increase the number Of
representatives from 1872 to 1885, a net in
crease Of 2 Most Of the increase will
come front the republican states and the
democrat have promised to wage q bitter
war againss the proposition on this ac-
count. While the republicans are very
we'll pleased with the bill there is great
dissatisfaction over it among the farmers
and labor people here and from express
sions coming in from other parts Of the
country tits the same everywhere. The
laboring classes are to man averse to
anything that will increase the expenses
Of the government, and as congressman
are, Of themselves, expensive pieces Of
furnitures to increase their number
at this time is contrary to the expressed
principles Of the labor reform movement.
They estimate that the average congress-
man costs the government 1900 per
year and the increase Of the present num-
ber to $50 would work handsome bay
window attachment to, the present con
gresslonal expense bill amounting to
about 81 SOC, 900 per year; and as the new
apportionment will stand for ten years,
the estimated increased expenditure will
be in the aggregate $15, 200, 900. This
sum fairly makes the farmers mouths
water, and the laboring men, too, think
it is worth saving, and as congress can
get along very well without any addition
in membership, they express themselves
4 favorable to . decrease in the number OF
representatives, rather than an increase
Senator Farwell, of Illinois is still OF
hand with patent finance bill
with ! national bank attach
lment. Ehe Chicago senator seems
to part with the national banks with uE
usual re luctance. At the last session b,
was the father Of a scheme proposing t
Iperpetuate the national banks by author
izing the deposits Of county, state anG
municipal bonds as security for their cur
rency, and last week he introduced sim
liar bill in the present session, The plar
he now proposes provides for the refund
ing Of the entire national debt in an ISSUE
of 2 per cent bonds running fifty years
The bonds are to be made the basis of na
tional banking circulation, the same Al
now, the only difference being that tn
banks shall be permitted to issue currenc,
for the full amount of the bonds deposited
Mr.. Farwells idea is that this must b,
done because, he thinks, the country Cal
not get along without the national banks
and his proposition to let them issu
bank notes to the par value of the bond
deposited, is done in the interest of tn
increase of the circulating medium of tn
country. He also proposes to abolish al
the existing ub-treasurles, with viev
to Let all the money collected by the treas
ury department go out into circulation
4 Mr.. Farwell thinks it the sub-treasur,
system could be abolished, money woult
be more plentiful in the channels of trad
and there could no longer be any com
plaint of contraction Of the circulating
medium. The scheme is taking on
among the republicans and while they ap
pear confident that no finance Legislation
will be enactsd at this session, there is
prospect of the new Farwell bill becoming
a law. PAUL HARPER.
tits the policy of our present economi
cal form of government of the treasury
department to buy bonds at high prem
ium, and even pay the interest on othel
bonds a year in advance every time tn,
money market becomes close in Wal
street. OF recent date, among the bond
holders of government bonds to whom in
terest was paid before due, were the
Standard Oil Company, $40, 900, 600. the
Blocker Savings Bank, 1000, 600 the Van.
derbilts s26, 600, 600. This was getting
money into circulation among the people
with vengence. Rob the treasury tc
| fill the millionaire's pocket, and then
when the toiling masses ask for this whole
sale robbery to be stopped by legislation,
a broad grin will come over the faces OF
these legislators, and they will only say, :"
Poor devils, what are you going to do
about it. Men, men, are you blind and
cannot see, are you willing to bow in mute
humility to these money kings as though
your strong right arm had dropped par
alyzed to your side, or are you going to
4 +bo - I,