New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-12
PETERS FINANCIAL PLANS.
HOW TO GET PLENTY OF MONEY, AND GET 1T
CHEAP.

Washington March II spcciall.-Sena'or HEa", >
oa.,,r Mr. pcdcr of Kansas, who is sojournlnS III
Washiugton seems To- have set ont To piopdE"'o j."
oc,r,,r theories Of money among the di'hanchl-ed
rr.idcnts Of the District OF COLUMBIA MI ''"''
dcvcrcd his second speech Monday night, ana ne sue
I'D IL, .,irriu, M ~ Congressman warner t"c
,rr,,,, ~ III. s. Loui, ircc-c0.naSc comi'ltot'
vbo hammered 10 be- present. Ntcr MI '0"'' o
.ucecb and General Warmers reply inc "Iu'' PV
minded several questions (" TIE newly hv"tV"
man from Kansas. The latter SAID mat Tic 'ou'i 'o'
,,r .,,,,.. nf General Warmers questions a t'o
i,4.- wanted them answered. because they were rea
.on,n. from widely separated premises the General
oro.,ions holm. based upon The present monetary
s,,,, vrldch made money the standard OF value IL
we'll A. the medium II exchange. Ills own > H''"
eliminated from money not oh4y INC c'c'"''' "a "
trin-ic VALE but the power to limit OF '""'l'i Wv,
value Of thing, of Use. Mr. Pcher7 pan 4' W
monetary and financial system Of the country Is d"
,oi,. i,,,l. ono Having eliminated the Gle
,nort q intrinsic valuc1 from money, he proposes
that thc Government only shall issue money ioF '"o
pubIc u,e.r I'm order 20 do this nc wants the "o'
eminent 10 issue Immediately 1IoOJo"oo ne" lre"S
tlry notes Of the denomination OF one uoN"' VI"
This sum- or 50 much thereof a. was hc'e'S''E' ~
would loan ont. 10 per cent ot ca'h 'o'h " w r''1
each wear o pcr cont to be applied to the extinction
NJ tbc principaI Indebtedness and per cent cover
tp, t, ,cr,.t In that way he believed II possible
IN redeem every mortgagci home In the lana "l'hh
"A period Of fifteen years. lie Wahteu INC I'o"0H 80
I'M, n,rcr taken away from rational banks, ana no
tho1yh those institutions should be converted INTO
Co,crnmont agencies. II the banks would not 10
the business the people would senator P'l'cr con
cluded ms ,pe,ch with the interpreted statement
"The function Of money IS to subserve the pubhc use
When that Ia, been DONE all the rest Will follow
plenty Of money and cheap
Mr. PETER assured his audience that he had tho''
ouglIy investigated the money question. In MS town
there Vac an extensive money lending establishment
80 his OPPORTUNITIES had been good. the WorhH5
EXPENSES Of that company amounted to less tha'i
100000 and as the business aggregated T-'ooo''Uo
annually the expenses wcre but ! per cent ol '"o
amount loaned. why, then, should people be com
PEELED to pay from 10 to Il per cent Tor long 'ilo
loans and from II 10 20 per cent on short time loans
II "A private firm could cover its expenses with per
cent Of il, business the Government couId 40 'ho
zane thing and II the Government loaned money III
l per cent the extra percentage would be saved 10
the people. There nothing revoiuti0hary' ho'h'is
dishonest in the proposition. . on mana
With Mr. PETER in the senate ana score, or mV 'T
Of men in the House who shnre ana sympatnAc VIZ
his theories of money. the next session Oh toheresS
promise, 10 be an Interesting not lNeL ON
No wonder that Mr.. savers OF Texas anu tnc ~.
prOpriaOuS Committee. suggests ny ths carry uN IN, '
appointment Of steering committee TO govern All
Ge other cnmmtecs of the incoming House as well rs
the House itself: or that Colonel oates loudly pro
claims "rerenchmcnt" aS the watchwod OF that body
during the next two years.