Nevada County picayune., 1891-06-11
THE MONEY QUESTION.

feet Is now being discussed the Wholc
 land over, and everybody should
 read up and study the question. By
 common assent and unanlmlty ot
 opinion. it is conceded our money
 volume is far insufficient for trans
 acting the business of the country.
 Then this question must be solved
 by the Democracy or else it will be
 solved by the people through some
 other channel,
 Mills and Began, of Texas, Crisp,
 of Georgia, Bland, of Missouri, and
 numerous other statesmen of other
 sections, not only want free silver
 coinage, but an issue of currency to
 the amount of Sj0 per capita of our
 population. With free silver coin
 age, and 10 paper currency issue, 1t
 would take over fifty years to put in
 circulation this sum per capita, hence
 the demand for larger and freer money volume, at once.
 It would be easy for the govern mcnt to issue the money, but how to get it in active circulation, is the all important problem. Various wild schemes have been suggested, the
 most absurd being that it be loaned indiyiduals on any and all character of securities. Among the more sound suggestions are: Government al loans to States on bonds, States to establish banks and regulate loans to individuals; doing away with most of tariff taxes for time, and pay ment of governmental expenses in a currency good for all public and pri- vate dues. But the best plan we have yet seen, is that of Hon. Bar nett Gibbs, of Texas, for the cstab- fishing of l.. $. banks in every coun- ty, and loaning money direct to the people but only upon real estate. As he says of his bill, as drawn: Ut wouldn't create q land monopoly, as each stockholder would take stock in proportion to the land of his covered by the , per cent government mort gage and all the land, whether in large or small tracts, would be on the market for sale, subject to the mortgage It couldn't result in an inflated currency, as it provides fer a per capita limit of $50 inclusive of gold and silver. There could not be any eXtortionate rates of interest, as other men with the same security could start bank in the same coun- ty. Under it the government would be the financial fountain head as per the constitution. and each county would be it's own financial center within it's pro rata of the per capita circulation. The relief would he speedy and locally distributed. It would be to all other classes what the national bank is exclusively to the commercial and speculative class es, and would not disarrange any thing except high rates of interest. The capital of these banks could be limited to S10o, ,000. "'
 As our country grows steadily in population, the lands will be more and even should the gov ernment get possession of large area, it could sell II easily. We be- lieve it was Jefferson who said: Scarce money and high rates of in- terest are the relentless foes of labor and agriculture. We do as much business now in one month, as was did in a year, thirty years ago, yet )nly have the same per capita of money in circulation. MT Gibb's s | plan will certainly bring relief to the and help the agriculturist, is well as every other class.
 Again, we quote from comments 1 ,f Mir Gibbs: ''I don't believe in | class legislation, yet it is the farm ng class that is the main stay in ev- ry nation, in peace and in war In pite Of this, we find a banking sys- em that is not allowed to loan him
 dollar on his land or it's products, nd forces him to go to 10 per cent )reign loan company to tide him yer or improve his farm. Why hould q miners gold be coined for i'm free, and farmers land ignor- | as q basis oi credit at low inter sts Why should the bondhoider