The midland journal. (Rising Sun, Md.) 1885-1947, 1891-02-06
Facts and Fiction

Mortimer w ilitehead, Lecturer OF
the National Grange says: Many of the
good old adages play part 90 point
q moral or adorn a tale" Here are
two: IF you wish to find the best
apples 10 the orchard, 20 to the tree
that has the most clubs under it.
"The birds always pick the best cher
Res" Let anything that is new, be
brought forward, be it ever so good
and pure, and there will be found
some to cast the clubs orpick the
cherries. Those who cannot advance
argument can ridicule. Those who fear
the truth attempt to blind it with the
ialsc.
After many years Of pinching times,
years Of anxiety, years Of study and
investigation, thousands Of the best
people Of our country have come to the
conclusion that one Of the best ways
out Of the wilderness is for the govern
ment to extend its issues OF money
loaned these many years at one per
cent per annum to bankers, with their
bonds for security, to other classes Of
our people, increase the circulating
medium to $50 per capita by loaning
II upon good real estate security at
one half its assessed valne. And then
the clubs begin to fly, and the birds
(of prey) forthwith peck the cherries.
no sooner do the people .fiud out the
cause Of their illness then self appoint.
ed doctors hold up their hands at
innovation, ana prescribe their old
remedies that keep patients sick, that
the doctors may still bleed and grow
rich. Land money, and land currency,
is money provided BY the government
Gus now only furnished to the people
direct at low rate of interest instead
of as at present at low rate Of interest
Zone per cent) to avery small favored
class and through them TO the people
Of high rate Of interest. II makes .
difference who is doing it, that's all.
One OF the clubs that is now being
quite generally used 10 some papers,
who have never told their readers even
part Of the truth about Gland money"
is to hold up the financial troubles Of
the Argentine Republic. brought
about, as they say. by doing for their
farmers "exaotly what farmers organ
izations are asking for this country
aud .sin view of the foothold which the
very policy that has so nearly ruined
the Argentine Republic has gained in
the United States. the study of the
problems which the farmers are forcing
upon this country becomes matter Of
startling national concern Thus they
give their readers the fiction. Thus do
they proclaim the false. / have been
at some considerable pains to get the
facts and to fnd that which is true, and
! find that the land money Of the Ar
gentine Republic il just as Different
from the Stanford land money plan al
day is from night or as opposite as arr
the North and the South poles. =
The Argentine Republic has banks
large banks, many with greater cap.
ital than any in the United States
For example, the Provincial Bank hal
a capital Of s33 900 900. and s67,-
100000, Of deposits. The Nationa
Bank has a capital of $4,000,
900; another 100000; another
100000, and several IS 600, O0(
each. In 1886 the government passed
the law establishing what are known al
"Hypothecary Banks,' or comforting
the privilege upon those already estab
lished. The great central bank and it
branches did not loan money directly
on land mortgages. the banks issued
transferable mortgages bonds called
.'cedulas" on the execution Of mort
cages in their favor (the banks). These
'cedulas' could be put upon the mar
ket by the holders (the banks) ant
sold for what they would fetch, and
the government guaranteed the interes
which was eight per cent Another
feature Of the law was the provision
that money could be thus loaned OF
personal property OF all descriptions
the government as before also guaran-
tesing the interest Of eight per cent
And as one Of the big city dailies tina
holds up its hands in holy horror II
think that even the National Grang,
should advocate "a poison exac,l,
similar" says. "The National Mort
gage Bank and the Provincial Mort
gage Banks in three years after th,
nha.aoa If the hill had ;ssned 9i(l0