Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-09-02
,reateo by the suD-treasury plan or any

OUACH ACbnOu luz bn0 general govern.
ment putting money into circulation.
Issue ii to the states and Eedcs the rest
to them, Is q very simple proposition
that everybody can understand, and 1t
Will be very difficult to show that a
state legislature Is not as capable of
deciding how to put $50 per capita into
circulation in its own state as congress
Is to decide how to put it into circula-
ton In all the states Any other prop
osition. 1t seems to us, antagonizes Sec
tional and class interests and prevents
the harmony absolutely essential to
success In a national campaign. How
this or that state may put its share of
currency into circulation is not q ques-
ton that need be discussed as a nation
al issue. Avoid details, and hold to a
strictly general proposition. All inter-
ests in favor of more currency are
agreed on demanding $50 per capita.
They can agree, it seems to us, on issu-
Ing 1T to the states and leaving each
state to settle for itself the further
question of getting its share into circu-
lation. But we see no signs of agree
ment on any method by which the ma
tional government should put the
money into circulation. And an agree
ment must be made and cannot be made
too soon. So why not settle on the Ga
zette's proposition?
There is nothing in the Gazette's
monetaryplatform to interfere with any
state or territory adopting the sub
treasury or any other plan of protect
ing farmers from crop spectators and
getting currency into circulation as
needed. Each state could erect ware
houses for crop storage and loan or
otherwise use its proportion of cur
rency In whatever wav its legislature
provided and its supreme court ap-
proved as constitutional The national
campaign should avoid rocks of discord.
We propose national financial plank
on which all elements of the peoples
party movement can be harmonized in
combined effort to get control
OF the national government
That accomplished, reforms can
follow, but until then reform
is impossible. And harmonious,
united effort is indispensable. United
effort can be had on the Gazette's mon
etary platform, and it will stand cam
paign discussion successfully. We began
to advocate the issuing of currency to
the states in 1875, and have seen no
reason to believe that any other
method of getting currency in circula-
tion, in not only the most advantageous
way to the people but in a way to
harmonic all industrial and sectional
interests in support of the national
platform and ticket, will be found
equal to the simple proposition-issue
1t to to the several states and territories
and leave details to them"
1t will be noticed that the Gazette has
eliminated the idea of issuing money to
the state upon basis of $40 for each
acre OF land in cultivation, which would
have established as many different
scales of prices for commodities as there
were several states. The rate of in
terest upon the bonds proposed to be
given by the several states to the gem.
eral government is also reduced from
two per cent to one per cent, which
will enable the several states to loan
to their citizens at two per cent. and
leave margin of one per cent to de-
fray the expenses of the banking sys-
TENS adopted by such states.
AS amended the plan would seem to
be simple and safe and easy of adop-
ton. Moreover, it deprives the pluto
Gratis OF their favorite argument, to wit
the insecurity and liability to suffer
loss on the part of the general govern
ment by reason of making individual
loans secured by individual mortgages
upon individual property. A state bond
Is lien upon all the material wealth
OF the state issuing it, and the general
government could suffer no loss upon
loans made upon such security.
Besides this, as the general govern
ment would be at no expense whatever
under such system, the twenty-five or
thirty million dollars paid by the states
to the United States would help defray
the expenses of the general govern
ment
If this plan is adopted the monetary
plank of the platform upon which the
conflict of the ages is to be fought out
in the year of our Lord, 1892, will read
something after this fashion:
(A)-The right to make and issue money is
sovereign power to be maintained by the
people for the common benefit, hence we
demand the abolition of national banks as
banks OF issue, and as substitute of nation
nj bank notes we demand that leg al tender
treasury notes be issued in sufficient volume
to transact the business of the country on
cash basis without damage or especial ad-
vantage to any class or Calling such notes
to be legal tender in pay ment of all debts
public or private.
AS one method of fgetting such currency In.
co circulation, we recommend it's issue to the
several states and territories up to an aRQre.
gate sum of $50 per capita of their popula
tion, in par exchange for their respective
bonds bearing NJ
annum, each to receive and put its share OF
currency into circulation through its own
law approved by its supreme court as con-
stitutionaL
We further demand the naturalization of
the banking system of the United States
IN the interest of the whole people. To
this end we favor the establishment of
state banks of loan. discount and de-
poSit In all cities and towns demanding
banking facilities, the officials of such
banks to be bonded employees of the
State, and the legal tender treasury notes.
specned above. to constitute the banking
capital for such state banks; such banks to
pay interest at the rate OF one per cent per
annum on time deposits, and loan to the
people as demanded by them. and at not
more than two per cent per annum upon
improved farm and city real estate with
proper limitations upon the quantity of land
and amount of money, and upon suoh other
approved security as is now considered good
by banks of loan and discount under the
present system.
(B)-We demand the free and unlimited
coinage of silver.
Each state could thus establish and
operate its own system of state banks
of deposit. loan and discounts, and
loaning upon real estate at two per
cent and upon imperishable products
and personal security at three per cent,
be enabled to pay one per cent. upon
time deposits and have an ample fund
to defray the expense of its banking
system.
The plan is well worthy of careful,
thoughtful attention on the part of all