Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-04-08
WHEELING lnrc LINE.


session of 1888, favored relief to farmers
In measure similar to the Stanford
loan bill In a letter to the Pacific
Rural Press he gives expression to the
following views:
Government loans 90 per cent. on a
bond to banking corporations and pays
the inter>ss upon the entire bond Just
the same. Some try to whip the devil
around the stump and say it is not a
loan, but it Is all the same, and one of
the most nefarious schemes ever perpe-
trated upon a people. Many other cor
porations have received aid from gov
ernment; but when the farmers ask for
loan and offer to give the very best
security Qand), it is met with all sorts
of ridicule, such as, it is not practical
(this is very mild but no reasonl be
cause this should be peoples govern
ment.'
Then again, some say that great
landowners would borrow all they
could, and holding such q vast amount
of land, it would flood the country with
money. Could not the law limit the
loan SO that no man holding title to
more than 16O acres, or any given
amount, could avail himself of loan,
just as easy as in making our land
grants to actual settlers? 1 believe we
should have $50 per capita, and if the
people received even more, they would
soon grow to it in population and COM
merce.
Another objection is that govern
ment would have to take some of the
farms, even If the loan was made at
one-fourth OF its value. Well, suppose
it did, the peoples government would
have 1t, and some other member of this
great nation could get it at one-fourth
its value and accrued interest; but If a
money syndicate gets it, would it not be
like some of our railroad grants, where
the act Of congress said the land should
not be sold to exceed 81. 80 per acre?
But the title to ownership has been SO
changed that the price Is any amount
they have a mine to ask for it, and clear
beyond the reach of a poor man; and II
there Is one daring enough to make the
purchase, the interest is so high, and so
many corporations are licensed to tax
him at will, that the land and his Inn.
provements soon revert to corporation.
"f the people cannot save their
homes with interest at 2 or per cent,
how are they going to do so at from to
% per cent? Can we as nation af.
ford to let the ownership pass from the
| tillers OF the soil to money syndicates,
which it will surely do if the people do
not get relief soon?"
In a recent number Of the American
Grange Bulletin there was published an
| able paper from Brother Leonard
80. ~
vania State Grange, from which clip
the following selections:
The national government first set the
example Of funding Its debt at q lower
rate. At the close of the war it paid 7
per cent in gold; later 8, then 5, then
| ~, then per cent, and the late Sher-
man bill proposed to fund II at per
cent If it was honest for the govern
ment to pursue such policy then it
should be equally honest for the farmer
to fund his indebtedness at lower rate
ofinterest Where would the dishonesty
come in If the farmers would pay back
dollar for dollar all the money bor-
rowed? H
'.Why should the protest of class legis-
lation loom up at this late day when all
other classes have been thus favored?
when congress passed the national
banking act It was class legislation, be-
cause it allows Ave individuals who de-
sire to become bankers and can raise
800, 900 to purchase government bonds,
secure a charter for a national bank,
deposit their bonds in the United States
treasury, receive 4 to AZ per cent. in
terest on the whole amount, and the
government will in time give them back
500, 900, or 90 per cent in currency, for
which 1t charges the bank per cent.
The bankers really only having $40, 600
loaned to the government as security,
but drawing interest ON 100000 and
getting their 500, 600 at per cent. inter
est, which they loan ont to their GUS
toner at to per, cent, making from
to 10 per cent on their investment
Any class of people can accumulate
wealth by such policy, that has the
money to start with, but 1t is class leg
islation. =
''There are only tArae conditions that
can materially better. the condition of
the agricultural class
''The first, is TO relieve them of un-
just state and local taxation.
"The second, Is to adopt q policy Of
government and trade that will enhance
the prices of the farmers products In
the home and foreign markets. The
third, is to fund their mortgage indebt-
edness at a lower rate of interest, IL It
can be done honestly. What the grange
asks is not undue tayoritism, nor would
1t work q hardship to any class, but it
would bring happiness to thousands Of
farmers homes without defraudiny anv
class and make this . country of homes
instead of tenants.
What the patrons ask is not as much
class legislation as above indicated.
which has done so much for the prosper
ity OF other classes. Then why not also.
adopt fair and equitable policy of gov
eminent toward the agricultural class,
as outlined by the national gauge at
It's late annual session, held in Atlanta,
Ga., In November, 1890, as indicated by
report OF executive COMMITTEES, viz.
"The financial policy Of q government has
very much to 90 in influencing the prices of
| agricultural products. from the fact that
when money 10 plenty ft stimulates business
by increasing the ability to consume. as
consume moro by living better II they had
the money to expend fog the necessary COM
forts Of life
THE best times the farmer ever had,
and when they made the most money,
was when we had . currency of S58 per
capita, and we are sure other industries
were more prpspareus. In 1868 we had
sss per capita; Ia 1888 we had only ST.
Perhaps $50 per capita was more than
the best interest Of the country re-
quired. but ST per capita, which is
worse, Is as much too low. Let con-
gress fix the value of currency at not
less than $40 to so per capita, tho farm
ers viii take the money and pay their
mortgages by the increased prices they
would realize for their products. and
keep the mills at work by buying bet
| Tar farm irnnllemanfs cotton. xYoolen