The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-09-25
NO "a.

AIAA 4Na- ne pan Aa salta
ter than no plan at ali-"
These are the views Of a level headed
farmer, aud we hsve no question but
they viii become general so soon ls
the farmers are fully informed as 70
the manifest practica bility nni uuiver-
sal advantages OF the plan OF which We
give the subjoiued general explsna-
ton
The money question now has hrst
place in the political Thought Of the
producing masses Of our nation Eor
some twenty years far-sighted patri-
ots, commonly kuoUu as green back
ers, have advocated fifty dollars per
capita government paper money Ia
circulation They have opposed ma
tional banks as being in the unture OF
special privileges which are entirely
out OF harmony with our democrats
theory Of government and they have
also releutlessly batElei ---sEust she
gold standard. that ineviroliv l1-aa 3
a contraction o4 the currancT which ale
ways serves the interests of the capital
lists at the expense of those Of the
toiIer
The general propositions which tine
greeubaclzer cCuteuded for are Just 10
principle, sound IN politico-ecoHomics,
and II put into practice would bring
universal blessing TO our whole people.
How comes it then, after a score OF
years of uuseihsh agitation and persist
eut Brguiug, with right justice and
business common sense SO munifestiy
on the side of the champions OF tho
! peoples money that they have ac-
compiished absolutely nothing In the
/ way OF righteous reform2 The bank
l ing guild stiil has its fauga deep set in
[ the throat Of the peoples prosperity.
and the currency of the country is con-
I tracted or expanded according 20 tha
needs OF the stock gamblers
I and capitaiistio sharks, but never
I with reference TO the general advantage
I of the producing masses
I The new financial system that finally
/ triumphs must be so full of virtue, JUS
| tice and practicahility that Sc viii COM
/ pei the assent of all honest and iutsIii-
. gent citizens on a fair and full pre-
/ ssntation OF its claims. II must be-
/ positively improEnabie To valid and
/ logical assaults from the most learned
. and astute special pieaders IN the pay
. of the money power. It's merits must
/ be palpable and easy Of comprehension
i TO all persons of average information
I and ordinarily good Judgment; aud.
finally. like the fructifyiuE sunlight, it
must bring impartial blessing to hon
/ est citizens of ali cLasses aud condi-
tious
We believe the Hin banking system
I viii stand all the tests designated. This
. system provides for 5000 governments
. banks, with three billion of gresubacIzs
in circulation, vagiug no war on gold
and silver, but letting those metals take
care OF themselves Loan money on
land and chattels at four per cent per
auuum, thus wipiug out every private
mortgage ia the country In less than
one year. Pay n deposluors three per
cent on their loans, which is but fair
for there are hundreds OF thousands Of
frugal men and women who have saved
up a little money under past financial
conditions, and it would be q cruel
shame TO suddenly and arbitrarily make
them lose 1t through no fault OF their
own.
The Hin banking system kills on all
national and private bunlzers il
crushes out all mortgage dends aud
loan sharks 1t keeps all the money in
the country In constant circulation. Is
stimulates industry iu ten thousand
channels and sets all idle men TO work.
u makes the farmers mortgage no
longer burden, but something easy 90
carry, for the government will e-his
kindly creditori aud, moreover the
b Hill banking system does not stund iH
the way OF any other financial reform,
which may afterwards be- found ueces,
sary. Farmers Voice
Since writing the foregoing letter ia
Brother Hubbard, I hud iJ necessary e.
modify one of my statements, LU-vyit
, While IL is true that in England and
, Europe the net annual increase fu ma
5 tioual wealth is but three per cent, or
J I even less, ] find that I'm the United
p States, from 1870 20 1890, the net in-
b crease has been just about four pei
e cent, compounded iu 1850. Henct
D three per cent interest would abso .
% only three-fourths, instead of all tina
e net products Of the nations toll
o Blessed, indeed, IS he who has such ar
= earnest, eloquent, enthusiastic udvO
( cate as Is Brother Hubbard, and ID,
o Hill banking system is wonderfully re
s iuforced by his Jealous pleading. Bu
Brother Hubbard cannot achieve ui
@ impossibuityi he cannot prove that
70 wrong is right, or that an evil is a bless
d ing. The power of money TO opprcss
e IS its tpterest-drawiBE attribute; 81
% power TO accumulate wealth Withou
p labor. Interest is not properly a par
y attribute or function of money, an
p the practice Of taking &C. is accursed o
d God aud bauetui curse TO humanity
q Brother Hubbard cannot cure an ev
is by iuocuiati0u with a milder form, us
It the practice with smullpoE The di
% ference between three per cent au
10 / seven per cent Is simply Of degree au
it not OF kind. Seven per cent. takes "a
D. that is made and a portion OF labor
possessions in the beginning Of "a
If year. Three per cent. takes only fhrci
D. fourths of what all make Both a.
D. robbery Brother II "a buard 's 'auulrer
ne of thousands OF frugal men and vvone
ID who have saved up a little money
& will. If their money draws three pl
rs cent interest, and they live Ion
ir enough. finally receive double pay.
8, be paid twice for work they have pc
ID formed but once ANY rate Of iutere
ne the people choose 20 give them is a gy
iy while IL is certain that one and aha
st per cent aud absolute security is be
ts ter than three per cent q. and grsl
siz risk Of absolute loss
Finally, Il Brother Hubbard viii sho
n, me how dePriviuE money saved Of &
he interest drawing power would eau
ia those who saved Il % lose q single Do
Be lar, ] will acknowledge myself mi
taken and beaten iu the argument
- the people 20 induce deposits ma
ct give the pOssessor OF idle money thrs
1g fourths otthe nations net prod ucts. q
We peoples banlzs had better absolute
TO refuse to receive time deposits st q
st and formulate a better plan
q The plan is close at hand Let q
m- banks loan at one per cent or ju
ID about the cost Of the system, and 3