The advocate., 1890-12-31
THE CONFESSED PLUTOCRACY OF THE
Topeka CAPITAL"

paper Of Kansas sought TO pose as the
very special friend Of Che toiling por-
tion OF our common people, who,
through the active power Of their
Drawn and brain constantly contribute
to aggregated accumulations Of posi-
tive wealth in our great republic, no
matter though they personally re-
ceive ever 80 small portion Of the
results Of this toll
This Capital in its Judas-like pro-
fessions OF friendship for the dearest
interests of the common people, Of
our common country, has often given
the open kiss as sort Of token OF
fidelity TO the unwary, but the eyes
and the ears Of the plain commonality
Of Kansas have been 80 opened that
but a corporsPs guard Of them Will in
the future be deceived by this con-
BpiCuous plutocratiC newspaper west
OF the Missouri river. This journal
in It's Lords day issue of December
IA, 1890 has this following matter in
the supreme interest Of the national
banks:
PASS SENATOR 'aHERMAN's BILL
The declaration that the national banks are
potted mOnopOles, loaned money by the govern
ment at per cent. per annum, Is the Nllest
claptrap. The issue OF circulating notes is so un-
profitable that the banks are Withdrawing their
notes from circulation. A bank desiring TO issue
100000 OF notes must purchase $780, 1000 Of govern
ment bonds at cost OF about Sl2O,OOO and
deposit them together with $4,000 OF redemption
fund, In the United States treasury, and pay
per cont. interest on los notes. On an invest
ment Of Sl2i 800 It Is receiving $500 interest and
has $4,000 OF notes. Its Si2i,5OO invested at 3
per cent. would pay over $4,000 Interest When
the bonds become due, all within twenty years,
they will be worth only 100000 and the banks
are, therefore, losing over 81 900 year from the
premium, There Is no money In Issuing notes al
WnaL the Southern alliance leaders call getting
money at ~ per cent" The national banks
have paid 10 the government altogether S37l OOO,-
900 OF taxes on their issue and have afforded the
best, safest, most convenient and most stable
medium ever obtained by the people.
We ought TO have more Of II, and we can get
more OF II In three days II Congress will pass
Senator Sherman's bill to permit the banks to
issue TO the full face value Of the bonds dep0s-
tied. There is no business sense In demanding
100000 Of government bonds as security for only
$4,000 OF notes. There are about Si2i,0OO,OOO Of
national bank currency In active circulation,
exclusive Of S55OOO,OOO Of money deposited TO
withdraw Improbable notes These Si2i,OOO 900
are secured by Sl3sOOO,OOO Of bonds II Senator
Sherman's bill is passed we will have the differ
enCe, Sl4OOO,OOO In circulation at once, and a
good part of the S65,OOO,OOO restored 10 Circula-
ton by means Of the less unprOntableness OF the
system. That would be great step towards In.
Creaslng the circulation, and the increase will
not retire god, either, by being less valuable
money. Senator Sherman's hill ought 10 pass
without delay
In order to be eminently fair to this
real CapitalistiC sheet it's article is
given entire, which, Of course to the
mind of one who has had inclination
and opportunity to consider vital
political problems, contains matter
that savors OF irrelevancy, il not of
superAuity.
A commendstion Of system by ga
government Of the people, for the
people and by the people" that fosters
thousands Of banks by furnishing
them currency at one per cent per
annum, loans them tens of millions