The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-11-24

get richer; it would cost the people no
more. With this money they could
build palace cars for the rich to ride in,
build fine depots, have better equip
ments, and they could build palaces to
live in and for the poor man to look at.
Do you say you would make laws
prohibiting this? What would your
prohibition laws amount to? You
have laws on your statutes prohibiting
money lOaners from taking e 6 to
s per cent. Money lOaners take their
II per cent. just as if you had no pro
hlbltOry law. You have laws to regu-
late railroads. What do they amount
to without q party behind them to en-
force them2 They water their stock to
the amount Of six billions and annually
rob the industrial class to pay interest
on their fictitious values to the amount
of three hundred and fifty million dol
lars.
In 1868 Vanderbilt combined five
systems of railroads into n (New
York CentraD watered the stock $48,-
900, 900, put forty millions into his
pocket and taxed the industrial class
on this fictitious value three millions
and two hundred thousand dollars
each year.
The Atlanta Constitution says we
want money that will not coniure up
in Wall street to be speculated upon.
If the Atlanta Constitution wants that
kind of money, why advocate the re-
peal of the 10 per cent. on banks of
issue and allow them to loan their
promises to pay based on debts that
must be perpetuated. Why not allow
States, counties and cities to establish
banks and issue a currency based on
their wealth? Isn't wealth better basis
than debts? This would give you a
circulating medium that would stay at
home and would not cost the com
munity anything to get into -circula-
ton. How would you get this into
circulation?
Nothing easier. The cities need
sewers, new pavements, better high
schools and waterworks. Let the cities
expend their credit money in making
these improvem ents.
Mr.. Constitution, would not it be
better to issuet the cities credit as money
than as corporations debts, and bond
bond the city, tax the people?
No one would object to this but those
who want to live off of the interest of
what they owe and the office seekers
and the oddities attorneys.
Counties can eXpend their credit
money building bridges, improving
roads, etc. Would it not be better to
build bridges With county money than
to bond the county for thirty years for
ten thousand dollars to build a bridge
that could be built for 81, 500 cash? A
ten thousand dollar bridge under the
bonding system cost in thirty years
$31, 500. The county issues 81, 500 of
her credit money based on the actual
wealth of the county builds the bridge
and it costs the county nothing.
The State can eXpend her credit
money in substituting good modern
school houses in the place of the miser-
able shacks where country children
sit and shiver during the winter, con
tracing colds that sends hundreds of
them to untimely graves. She can
her teachers and make them an honor
to the State andpay them decent wages.
Mr.. Constitution, give the people the
benefit of issuing their w credit as
money instead of allowing corporations
This will relieve them of an immense
burden now imposed upon them. Why
pay $31, 500 for building 81, 500 bridge
when it will not cost you anything?
Why pay corporations one hundred
and forty.four millions each year for
the use of their credit when the peoples
credit is better and costs them nothing?
Why pay three hundred and sixty
millions to perpetuate corporate money
credit when your w credit is better
and cost you nothing?
Money is the creature of law created
for the convenience of the people to
make exchanges pay debts and taxes
and it is as necessary IN the channels
of trade as blood is to the human sys-
tenn, and it must be furnished at cost
and put into circulation by paying a
portion of the expenses of the govern
ment. 1t can and must be put into
circulation without leaving any in
terest- bearing notes to rob the indus
trial class, and must be under the
supreme control Of the industrial class.
Yes, Mr.. Gold-bug, the government
must put its printing press to running
off full legal tender United States notes
in sufficient quantity to dOthe business
of this nation on a cash basis and stop
corporations running off theirprOmises
to pay and bonding the nation to get
them into circulation. Mr.. GOld-bug,
we are determined to have our system
and stop yours. Mr.. Gold-bug, please
inform the Alliance if your credit is
any better than the nations. If so, in
what respect? Please inform them
how your credit is worth three hundred
and sixty millions a year more than
theirs? Mr.. Gold bug, we know you
begun sucking at this teat when you
were a wee little calf, and you have
grownto be ahUge steer. Your capacity
to suck has increased with your size,
and now you can digest all the cream
the industrial class can manufacture.
AS a wee little calf, we could tolerate
you; as a huge steer, with such a
capacius appetite, you are a national