The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-12-24

wealth can only follow the correction
OF these abuses; but the two measures
necessary to make agriculture profit
able, and thus insure an increased
prosperity until the public mind is
better prepared than at present for
the favorable consideration of these
questions are:
First-A medium of exchange in
volume equal to the demand for it;
obtainable direct from Government
at rate of interest sufficient only to
defray the cost Of issuing it. Gov
eminent to be secured by first mort
gage on productive real estate; and
the sum obtainable not to exceed one
third OF the ascertained value OF the
security. The supply of money to be
self-regulating, aud always equal to
the demand Cat . low rate Of interest)
by reason of its convertiblity ut will
into q Government bond-payable
on demand-bearing a slightly less in
terest rate that that charged for the
use OF it,
Second-iovernment ownership
and control of the American Railway
System by purchase all existing
lines upon equitable terms or by the
construction OF necessary new ones:
to the end that labor's product may
be transported to the consumer at
minimum, or such rates as will best
serve the interests of the whole peo-
pie.
As Congress has full power over
these two subjects, the remedy of
course is a majority in that body who
are favorable to the proposed
measures and can be relied upon to
act in accordance with their convict
ions.
Observation has taught the writer that
there are two classes of men in pub
lie life-those who can be depended
upon to serve their constituents, and
those who cannot. How to make the
former class A MAJORITY in Congress,
instead Of Of a minority, is 4 problem
| which, when solved, will insure an
era of prosperity little dreamed of by
q people who, though foremost Of all
nations in the arts, sciences and in
dustries, and occupying the most
fertile portion Of the globe, are to-
day in the midst Of plenteous harvests
undergoing all that the term, hard
times, signifies.
The benefits to result from the pro-
posed measures may be briefly sum-
marrised as follows:
With money obtainable from Gov
ernment at SAY two per cent inter
est per annum, THE CURRENT RATE
WOULD BE THUS ESTABLISHED. Capt..
talists, in order to make their CAPT.
tai yield larger returns, would be
compelled to invest it in enterprises
that would give employment to and
This faultless money system was
first advocated by Edward kellogg,
an American, about the year 1850, in
a pamphlet entitled LABOR AND CAP.
ITAL, to which the reader is referred
for an exhaustive and conclusive dis
cussion Of the subject. (See No. III
OF Lovells Library; price Soc Tn.
der this system the supply Of money
is always equal to the demand at a
JUST RATE oE INTEREST. Govern.
ment receiving SAY per cent per
annum for the use Of money. and pay.
ing SAY and J per cent upon the
bonds into which the money is con
vertible. or redeemablr. is the gamer
in sum sufficient to defray the ex.
pense of maintaining the system.
With improved land for security
safety to Government is easily Sc
cured, by rules providing for safe
margin Of value in each case over and
above the amount issued: while one
or more Fiscal Agencies in each aon
gressional district. at which applica
, tions could be filed. titles and securi
! ties examined and approved bv com
petent officials acting under legal lin
itations. would be sufficient to trans
act the business.