The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-09-15

ClUJ VI uIOIlSJ 10 CIIC opportunity OI lNG
plutOcrats.
The Alliance says Congress shall
exercise this money power fairly and
wisely for the benefit of the whole peo
pie in every part of the country by
making and keeping i'll the country as
much as fifty dollars per capita Of real
money. The census gives us a pOpula-
ton of about IS, 900, 600 This would
entitle the whole country to IS, $50
900, 900 of real money. To that would
0e added the bank notes. The national
banking laws must be repealed or so
altered as to allow State blnks, wher-
ever necessary, under proper safe
guards. These State banks could lend
money on real estate and other good
security In a short time the bank
notes would nearly or quite equal the
money made by the government. This
would give us Sc. 500, 600, 900 Of currency
or one hundred dollars per capita OF
money and currency together, One-half
of which would be real money made
by the government. This half would
never decrease, but would always in
crease as the country increased in
population. The proportion of notes
to coin would greatly depend upon the
yield from time to time Of gold and
silver from natures store. The bank
notes would be a good representative
of money and would pefOrm all of the
functions and SubServe all of the pur
poses Of money at or near home. They
would be Fedeemable in money, viz:
gold or silver coin or legal tender gov
ernment notes. Those of us who can
remember as far back as 1860 we'll re-
member that a twenty dollar bill on
the Bank of North Carolina or the EX-
change Bank Of Richmond, Va, was
appreciated as much as q twenty-dOl-
Lar gold coin of United States mntage,
and could. without any difficulty, be
exchange for it's like value in coin
But the plutocratic sinners say:
How Will you circulate, distribute
this money! The Alliance will first
answer. We will not do like your
hired servants in Washington do with
the silver cOin-lOck it up in the
vaults Of the treasury, guard It with
armed soldiers, use all Of the influence
IF the President, the Secretary Of the
Treasury and of a majority of Con
gress against its circulation, and then
curse il and say the ID thing won't
circulate" >" No, the Alliance will not
DO that They will have no Harrison
or Cleveland or Sherman to do the
work. They will have it managed by
officers friendly to and enthused with
the grand future money plan of the
United States Government. Under
this management our money Will cir
state 3uI break the haJ Is q plut0c-
racy and exhibit the United States of
America once more to the world as an
example worthy to be followed in the
redemption and freedom Of mankind.
But how shall the legal tender gov
crnment notes he equally distributed
at first? say the plutOcratic answers
and very many honest doubling
Thomases Of other persuasiOns. This
is on important iRQujry. On it hangs
all the law and the gospel of the Sub
Treasury plank of the Ocala platform
1t deserves the best consideration 1t
is Of most Importance to President Polk
and the other great leaders of the ALI
ance whose province it is to diSinthrall
the country and rescue the people from
the oppression of plutOcIacy. The
right solution Of the question will solve
the difficulty Of the Sub-Treasury plan
formulate what is now an idea into a
plan and sOlidly unite the Alliance on
this plank of the Ocala PLATFORM [
think the solution is plain and easy,
entirely void of paternalism and cen
tralizatiOn, and fully observing and
subversive of the rights of the States
1t makes the creature, the government,
do for the creators, the States, the i'm
portant work that the States delegated
to and empowered the government to
90. | respectfully ask hearing of my
plan.
For the present population of G5,-
O0O. 900 it would be the duty of Con
gress to keep in the country as much
as S., ,2J0, 00O, 600 of money, and to re
peal or modify such laws as have a
tendency to prevent q sufficient vol
ume Of good and wholesome bank cur
rency. If the country now has half of
this sum in gold and silver and green
backs, it would be necessary to issue
81, 625, 600, 600 of legal tender govern
ment notes. If it has more than one
half it would be necessary to issue a
smaller sum. If it has less than one
half it would be necessary to issue a
larger sum Those notes should be
issued to and distributed among the
States according to population as dis
closed by the last census. They should
be real money, bear no interest for the
government, and the States should
never be called upon for payment.
They should not be regarded as q loan
or a gift but as a part Of the money that
Congress assumed the obligation of
providing for the States when they
surrendered their right and power to
make money. Each State should lend
its share or part Of this money to its
own citizens at two per cent. yearly
interest. The States should lend it in
small sums, say in sums Of not more
than $1,000, so that a favored few
might not borrow all Of it. In lending,
the States should distribute it among
the counties according to pOplatiOn.
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