Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1890-12-01
Cheap vs.. Honest Money.

Money" in which he ridiculed the idea
and thinks sit originated in rhe head of
some financial quack." He says, "the
farm mortgage indebtedness of this conn-
try ia probably something like 81, 900, 000-
00O." Mr.. Peterson of course laid him
self wide open to CT iticism in many ways,
and Mr.. John Whtiemore in late issue
of the Nationalist gave him short lesson
in finance that is worth reading.
Having read the article in your Sep
TENDER Issue, 1.-The Farmers Demand
for Cheap Money" take exceptions to
some of the writer's statements. 1t il
not cheap money, but honest money,
that the farmers want. They want dol
lar that is good for the farmer, the iner-
chant, the mechanic, the sailor, every
body.
1t Is the stamp, with the credit Of the
nation behind it, that gives vah,e to mon
ey. This kind of money covers gold and
silver, but gives them no patent right
over other materials. Such a money
will perpetuate the nation, for it will BE-
the peoples, and AS fixed as the north
star; redeemable when desired to ex-
change it for something that is wanted,
and Of no use until that time arrives.
BY a mortgage on his land the farmer
offers the best security that can be given,
as it is constantly increasing in value.
Naturally he thinks it only fair that he
should borrow of the government, on
what is his to pledge and for which he
pays taxes ,andju as naturally he thinks
it unfair that the government should use
his credit and that of all other toilers,-l
that is, 'the nations credit, ITO loan to
the banks, which get interest on what
they own as well as on what they owe.
The greenback should not be cOmpar-
ed with continental money, which was a
promise to pay in Spanish mlled dollars.
The greenbacks Of the first issue were le-
gal tender and at par with gold. The
next issue was the same when it passed
the House, but when it got to the Senate
certain men, while the nation WAS strug-
Cling for its life, threatened what they
would do if the repudiating clause was
not put upon it. This remains to-day an
evidence of the most villainous conspira-
cy by our own so called honorable men.
Hence the depreciation of the greenback,
which forced the soldier to take 80 to 81
cents for his dollar, and put more than
fifty million people in bondage to this
day.
1t is not OH account of the great vol
ume OF money used, rs Mr.. Peterson
says, but because of this repudiating
clause that the greenback deprecated i'm
value. His idea of Il currency of two dol
lars In paper IL be redeemed by one dol
lar In coin would be fifty cent dollar.
Our whole system of finance is found
ed ON fnlsehOOd. The government
should control and issue the money, and
not place itself in the condition it was in
when the war broke out, when the peO-
pie had to use broken bank money, post
age stamps, and anything that came
hanaiest. Horace Greeley said "a well
executed counterfeit was better than
some of the regular bank bills for use."
There should be banks of issue, which |
shall he hanks Of deDOsit as well in |
which the government would take charge |
Of the money, and from which it could,
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