St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1891-03-28

VOL. XV1.-NO. 13.
immigfanA In some poseions o. ID
West the allowable rate Il 16-psr esnt3
PR annum; and. with s\co@missioG
above that TO farmeEs, Il b NOT euipglD;
ing that al the farms and chat4elq
thereon are 20 mortgased that they aES
rapidly passing into the poesessioa a
the few money loaperA The postal
system, under G0v9Enment wenaee1
meat. makes II possible 70 buy posej
age stamp a. cheap In Idaho . In New
York 0ovesnment banking ihould
and would afford the same Socommodo
ton.
L The legal rates Of interest sre too
high. Long hours. coupled with lahU.
saving machinery, have driven Wuekp
men out Of the mechanical employ
ments in such numbers - 70 mako n
tense competition In farming and IN
tho various avocstionA Not having
profit enough to mako ends meet ~
hoping to save themselves. men borrow,
and, finally, lose al through being
eaten up by interest
The institution that serves our pwpooo
in banking should b thoEo1gAly
impartial. and be % completely
responsible a. to guard the eps4omsR
against any possible loaA No<Ahe
short Of government can an this pol
ton. Tho only serious question 4: As0
we sufficiently civilised3 Are w wise
enough to introduce . Govssnmsata1
system that win do justice to III and
absolutely protect The people3 think
We are and propose the following:
That the Government borrow and oA
to its liabilities O. .lso. .opo, ,0oa The
amount thus borrowed odd 70 tho
present Government indebtednesa, win
make the Government deht q. .ooo. 80. 80
. very light debt compared with oGhR
nations; and considering tic aassts a
the Government, consisting Of cd, Co.,
600 acres Of Government Land yet M
sold, together with m-hou9eaI 3ogtD
and other property worth bnaons a
dollars. $3.50
The exact amount Of money IN chea,
lation November I, 1890, was Sl,looyf
004, ,121, which made, reckoning Ow pop.
ulation at 5000, 900 people. ooAoo Ia
each person; ample with which 70 "a
the business Of the country when eoaA,
dence il restored and money cizeula1eat
Continue this circulation with stsaAy n.
crease, a. may Be found necessary With4
out initiating Or depceasing valnss. =
bank notes Of various denomlna&ionsi
including q goodly supply of postal esr.
rency, SO popular and cdhvenient IN ID
days gone BY. g
Establish 5000 banks IN vaFiou4 pa11D
Of the United States. A Tie Govern.
ment can borrow every dollar e wants
at 8 per cent. and leas, it can loan q 8
per cent. As there arc estimated TO b
SIS. 200. .000, ,0eo worth Of property N tAs
United States, tho GoveEnznent can
safely loan up TO 5000, ,0oo. .oo4 which
may be it's limit Of loan.
Whatever money IL put into ci1calAr
tion win como almost Immediately bocb
into the banks again, through tie con
6dencc Of depositors in the 0ovesnmeue
bank Is . safe place for money; ands
costing the Governmeut nothing, eaa b
loaned over and over again, up 70 ~
amount Of q, ,0oo, ,oo0. 900.
A careful appraisement should be
made Of all property IN every part ol
the United StateA TheiA 600 banln ~
30 many Government depositugies, do.
tributed throughout the Union, for The
purpose Of furnishjng nouW ss pr
cent or less, ON good security. II bsancA
banks are needed they may be estab.
Nshed a required.
Loan money ON land q one A1tA Of -
-
erly insured. st ooe-tenth their value.
Pursue 20 careful . policy that Ghould
interest or principal not be paid, tho
United StaAes win not be the loser, but
the gamer Il the property cones into
possession.
Abolish al private banking. but 4.
low individuals. who may b willing
10 advance moro money than tie Cow
II allowed to loan, TO loaa
from their own funds, O. under tho
head Of guarantee companiea. to tho
borrower, at . small stipulatsd ID
1anco over the Government interest,"
For the expense Of managing The steoo
banks allow each $4,000 Per pear 70
pey officers. appraiser. Inspector, etc.
The expense TO tho 0oveznmeut Of
his system Of banking wi1l b Interest,"
m q, 0oo, ,000. 900 at per cent, smount-
ng TO 80, ,0o0, 900 Per annum. The cost
II managing 1000 hanks q IN svesaCe
# 9e0, 900 each, win Be 90, ,ooo, 90; total
,ost. el2o. .0o0, 900 per year; Eeceipts from
interest on 5000. .ooo. 900 at Per cent,
'200. 000, 900; giving . net gain % Tie
Government By doing II own banking
Il 60.000. .ooo. The sdvantage 70 tho
,eople BY Government banking tAna,
m strictly conservative basis. Win -
} large source Of revenue; no noeo
,anics from hank failures; % moro
,roperty sold at . third o. Quartse
'alue because Of money panic; no more
Of money q home 70 b
,urned. lost oe stolen; 10 moso nsw
ettlers eaten up by exmbitant imtee.
1t; NO moro discfiminat3oo agninet
armers. because their securities are IN
cal estate; NO moro millions loGt
ArUVgh Specializing bankeEs o. bank
upt bonleA
To guard against political diahooesey
here should be elected annually 3
'oard Of Ave bank commianicnep In
'ach Csngressiooal diskie4 who Ghal1
,ave the control Of employmsnt of
,ank omcers; these officers 70 be con
in1ed In place % long = they aeeept-
'bly servo the people. A. The psivilege
vill always rest With The people a
changing The membership
4 Congress- and The management q