The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1891-02-07
and would afford the same accommoda-

and would afford the same accommoda-
ton
4. The legal rates Of interest are too
high. Long hours. coupled with labor
saving machinery, have driven work.
men out of the mechanical employ
ments in such numbers as to make in
tense competition in farming and all
the various avOcations. Not having
profit enough to make ends meet, yet
hoping to save themselves. men borrow,
and, finally, lose all through being
eaten up by interest.
The institution that serves u purpose
in banking should be thoroughly
impartial, and be so completely
responsible as to guard the customer
against any possible loss. Nothing
short of government can fill this posi-.
ton. The only serious question is: Are
we sufficiently civilized? Are we wise
enough tn introduce n Governmental
system that will do justice to all and
absolutely protect the people? | think
we are and propose the following:
That the Government borrow and add
20 its liabilities 81. $50. OOO, 900. The
amount thus borrowed, added to the
present Government Indebtedness. will
make the Government debt s.. O0O. 900. 900
Il very light deit compared with other
nations: and considering the assets of
the Government, consisting OF 900, 000,-
900 acres of Government land yet I'M
sold. together with custom-houses, forts
and other property worth billions Of
dollars.
The exact amount of money in circu-
lation November /, 1890. was Sl,i99.-
OOi.12l. which made. reckoning our pop
ulation at $4,000, 900 people, $3.50 for
each person: ample with which to do
the business of the country when conf
dence is restored and money circulates.
Continue this circulation with steady in
crease. as may be found necessary with
out initiating or depressing values. in
bank notes of various denominations.
including a goodly supply of postal cur-
rency. so popular and convenient in the
days gone by.
Establish 1000 banks in various parts
of the United States. As the Govern
ment can borrow every dollar it wants
at 3 per cent. and less. it can loan at 4
Ter rent. As there are estimated to be
So. 200. 900. 900 worth of property in the
L nitcd States. the Government can
safely oar up to S., 600, OOO, 900, which
may be its limit of loan.
Whatever money is put into c~ircula-
ton will come almost Immediately back
into the banks again. through the con
tidence of dcpositors in the Government
bank as a safe place for money; and,
costing the Government nothing, can be
loaned over and over again. mp to the
amount of 5000. 600. 600.
\ careful appraisemcnt should be
made of all property in every part of
the United States. The 5000 banks are
So many Government repositories. dis
throughout the Union. for the
purpose of furnishing money at 4 per
cent. or less. on good security. If branch
banks are needed they may be cstab-
as required.
Loan money on land at onc-fifth of its
appraised value and on chattcls. prop
insured. at one-tcnth their value.
Pursue 50 careful a policy that, should
interest OF principal not be paid, the
I nitcd States will not he the loser, but
the gamer if the property comes into
possession.
Abolish all private banking, but al
individuals, who may he willing
Ia advance more money than the Gov
is allowed to loan. 10 loan
from their own funds. Or under the
of guarantee companies. to the
borrower. at a small stipulated adj
vance over the Government interest.
For II expense of managing the 1000
banks allow each 100000 per year to
pay officers, appraisers, inspectors, etc.
HE expense TO the government OF
his system of banking will he interest
$1,000. DOC, 600 1t " per amount
.ng to $4,000. 900 per annum. The cost
managing 5000 n at an average
Of 100000 each, Will ne $40, DOC, 900; total
cost, 600 per year; receipts from
interest on $1,000, 0Oo. 600 at 4 per cent,
200, 900. 600; GIVING Il net gam To the
Government by doing its W banking
- '"f
people by Government banking thus,
IN a strictly conservative basls- VIII be
"A large source al revenue; no more
panIcs from bank 1alinres' no more
property sold at a third or quarter
value because OF money panic: no more
boarding of money at home TO be
burned. lost or stolen: no more new
eaten IN by eXorhitant inter
est: no more discrimination against
because their securities are III
real estate; 10 more millions lost
specializing bankers 81 bank
banks.
To guard against political dishonesty
,F tr-o b,pLy commissioners -