The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-09-25
70 PoPuLl 70 -

al4 AnEEu HuuE LllE LEuuaa aud Great
Iiisk o. Total Loss.
We boldly declare our couviction that
there is no possibility OF having any
efficient system Of financial reform that
is not squarely based on governmental
banking, and We are glad TO see that so
able aud influential an economic writer
as George c. Ward. of Kansas City, Nc,
is of our opinion, and as will be seen by
the subioiued letter recently received
from him, that ''the peoples banking
system" which in main essentials is
based on the adunirable plan form ulatsd
By Prof Hin, viii ssOn be championed
by farmer leaders every where
BROTuEa HUEuAEu= Issue OF the z8th inst
just at hand How sorry am that while
agreeing with you 90 precisely and exactly
Ia principle We cannot Eet together on de-
L-ll~ me -lp-tE-AatlLl 1tt-- nave o1eis
Withdrawn, and think have reason 90 as
sure you that she BIN WhI-a takes its place
VIII demand a "paople'E banking system
but never az four per cent interest TO boE-
ruWeEu OF three per cent Co dcpoaiEor-
Three Der cent. tc depoaItors means uImply
that the whole uauuI8 shall toll IoE the few
who nov own the money OF the people nl-
vide ir equaIIy-muis tho interest throe per
cent. and Eiye depoBIpors one and one-batf
per cent and absolute security. You can
get Just as many Fotesr and at the sans timc
divide the net annual products OF the people
equa-LF between capital ana labor. a tnEeo
per cent. United States denosir clip o. simply
a three per cent boni-a aavilEs bond At
would be the best Investment security in the
civilized world. and the interest being oz-
uctly equal TO the neE annual pro iuctt no
one who had money would use lts tncy would
simply deposit &c and live on tha Interest
FrateruaIIy, GEORGE O. WARD
The entire difference between our
selves and Mr.. Ward has now resolved
itself into the question OF interest TO be
paid dePositors, where we suggest three
per cent on time deposits he would cut
it down to IL per cent
In his devotion to an abstract princi-
pie Mr. Ward would endanger the
| chance of giving the people any relief
/ from the tyranny of the present
oligarchy of money monopolists who
[ are now devouriug the prosperity OF
| the country. While we, on the other
/ hand, are in favor OF making the largest
| concessions in order to secure sub
/ stautial triumph.
/ We want victory and desire TO get it
/ IN the shortest possible space OF time
! The need of the people is dire and urg-
/ eut, for we are now absolutely under
l tine dominion of the money power, 1t
/ is in full possession of the political,
/ financial and commercial systems of
/ the country. 1t is heavily armed and
! coura geous and any one that thinks we
can overcome it with ease Is destined
/ to be much mistaken, because, after we
/ have used iudiCious compromising and
wise policy to the uttermost. there is a
/ stubborn battle before us aud for "a
long time it will hang doubtful in the
| balance
at the present time, when we are so
l weak and the money power SO strong,
| what would be the tuctics indicated by
! good generalship that wins victOries2
1 Would il not be to see 20 il that our
plan of financial reform was made so
| broad and generous that all the well-to-
/ do middle class would throw their in
! fluencs and votes with us instead Of
/ ranging themselves on the side OF the
enemy? To us this seems a very plain
I proposition.
There are millions of good people
who have saved up more or less money
under financial conditions that have
been practically unchanged for ages
These people were not responsible for
those conditions and when they are
radically changed, IL is both wisdom
and justice TO so change them that IL
will not inhict punishment aud loss on
innocent persons If it were impossible
TO do this, we should say let the reform
20 on no matter what temporary hard
I ships may follow the establishment OF
a permanent blessing for all people
But these injuries are totally I'M
called for and entirely unnecessary, ia
this instance, and their iuhiction would
! be nothing short Of deliberate cruelty
and injustice. And, mark you, the at
tempt to infics them would defeat
itself, and the people would find them
selves deprived of the blessings Of chsaf
money, an abundance of the circulating
medium and all the rich advantages
that would flow therefrom, and still
under the merciless dominion of this
Shyloclz money master, and all becauss
I they lacked the charity, policy and true
wisdom which should have led them x
give due consideration 70 the great diff
| hculties always attending the chang
! Of long established conditions, and alss
to have a kindly regard for the feel
/ ings and interests Of a large class o
70 I their worthy fellow-citizens, and not Z
5 work them au injury where there wa
| no vital necessity for SO doing
{ Prof Hills system provides for tn
s . gradual decrease OF the rate of iuter
, est, both paid TO dePositora aud sccure'
p from borrowers, until ultimately tn
t government would pay one per cent .
, depositora and loan money at two
| But in the name of CUmmuu sense VIII
1 not wisely come down TO this by de
Z grees, and give commercial affairs an
q the individual interests of the people
e chance TO adjust themselves 20 thi
e great change, instead Of doing It q
s once out OF hand and with no regard {
e who or what gets hurt2 There is n
i need Of this fierce precipitaucy, and
C will beyond a doubt meet overwheiu
.- ing defeat
C We ask the farmers Of the country
z under a governmental banking system
d which would at once put eighteen hui
Il drsd million dollars In circulation vheI
d we have now only about three hundre
l. millions, and giving even i've per cen
= to depositors and lending 20 5orrovyel
% at six per cent. we ask them IL the
e present condition and future prospect
n would not be immeasurably improve
IS over what they are to-day2 Then v
10 would still have q chance % gradual
IS work down 20 a lower rate Of intere
e in q wise, temperate and considera
r. manner that would involve no sho,
to business, or loss 70 indivi iuala
Mr.. u. II. English, Of Wessingto
= S D., writes "a communication 20 q
p RuFa ist, of Huron, concerning the Il
= banking system, from which VIC tai
= ! the subjoined wise extract
The advocates OF the sub-treazu-
z plan are being dscsived-certainly q
its oppo1cnts- We don't care anythiI
about the coustirutionEtily Of %, as q
I never expect TO have an occasion
r. I try it IL IS held up by few as the be
= known method. to them by which
= . part Of the wealth producers, che Earl
7. ers. viii receive the Ereatsst GOO