The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-06-25

and it is an abundant one for every
necessary purpose. Treasury bills bot
toned on taxes, bearing or not bearing
interest as may be found necessary,
thrown into circulation, will take the
place of so much gold and silver,
which last, when crowded, will find
an efflux into other countries and thus
keep the Guantum of medium at its
salutary level. Let banks continue, if
they please, but let them discount for
cash alone as for treasury notes."
How does the teaching of the present
leaders of the Democratic party, who
are ever hollering Jeffersonian doc
trines, accord with the above? These
false teachers rely for success on the
ignorance and credulity of the masses
who are without the sources of infor-
nation of what Jefferson taught, and
the time necessary for an investigation.
The National Farmers Alliance and
Industrial Union and the organizations
with whom it has confederated stand
on the financial question where Jeffer-
son stood. Out 1900, 900 voters in the
United States, we had under our BAN
ners on the 1st of last March 4, ,2S3, 900
voters. At the present rate of enlist
ments, by Noyember, 1892, we will
number 5 of tie whole. Is it reason
able to expect that we will abandon
our clearly defined principles, demands
and measures and support men who
have declared undying hostility to
them? Never! They rise high above all
parties and men. The common good
demands that they prevail. United
States legal tender notes in payment
of all debts both public and private
should be issued by the government in
sufficient volume to meet all business
demands, and loaned direct to the
people on real estate, properly restricted
and secured, the maximum amount, to
any one individual not to exceed S., 600,
and the minimum S100-the loan to be
for fifteen years at = per cent. per an
mum, the interest and one-ffteenth of
the principalto be annually paid to the
government; the aggregate amount of
loans not to exceed $50 per capita, and
to be distributed among the States ac-
cording to population-all notes to be
numbered and when paid into the gov
ernment to be cancelled and new ones
issued; as the population increases
the loans to be increased so as to
keep the circulation as near the same
per capita as possible. Such notes bot
toned on the credit of the nation will
be better than coin, as they will be
more convenient. No one wants coin
| in business transactions except trac-
tional currency. This would bea source
of great revenue to the government
land aid largely in meeting its expenses
as the cost of printing notes and operat-
ing the sub-treasuries to loan them out
would be small. 1t would be vast
saving to the people in the high inter-
est now paid to corporations and indi-
viduals. The tariff could be greatly
reduced and the necessaries of life put
on scale of reciprocity with other ma
tions, to the advantage of the public
and without detriment to the govern
ment.
The exception clause in the act Of
18th of February, 1862, caused the de-
probation of the greenbacks. BY that
| act they We're declared legal tender
in payment of all debts public and
private, except duties on imports and
the interest on the public debt, which
from that time forward should be paid
in coin. This created a specific de-
mand for coin and gave its holders
monopoly. There should be no ex-
ception. Let there be free and un-
limited coinage of gold and silver into
bars mainly to adjnst balances with
foreign nations, and the coinage Of
silver and the baser metals into frac-
tional currency from fifty cents down
/ in sufficient volume to meet the de-
mands of domestic use. Let the legal
tender notes be in denominations be-
ginning with ore dollar and if desi-
rable reaching as high as $1,000 notes.
This would pnt our people in
condition and infuse into them an en-
ergy they have never had to develop to
the full the vast resources of the coun-
try.
Let there be no faltering. Let each
one do his best for the success Of our
principles, demands and measures, and
victory will crown our efforts, and
peace and prosperity bless the nation.
Let there be no rest until mankind is
lifted to a higher plane than they have
ever occupied. Let the world see and
know by our virtuous deeds that we
ary the worthy sons Of the best who
have lived befoce US.
Doc,,ooLf,1I1,