The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-12-15

that will furnish full volume of legal
tender money and put them into clrCu-
latiOn at the least cost to the people Is
the BEST Money Is not wealth. 1t Is
the creature of law, created by the peO
pie to expedite and cheaper exchanges.
1t should be furnished at cost There
iS-nO way so cheap to put it into circu-
lation as paying a portion of the ex-
pPnSeS OF the government. This does
not call for any machinery outside of
what we have in operation. This money
will go into the channel of trade, leav-
ing no interest bearing notes to rob the
tOilers. One of the objects in all re
form legislation should be to get clear
OF the interest paid on money. reducing
cost to the minimum.
Can any one give a reason why the
people should pay rent for the use OF
the money tool creared by themselves
for their own convenience? Why do
this when you can avoid it2 1t Is not
business sense to incur expenses when
it can be avoided The industrial class
of the United States have been paying
double the interest paid by the Euro
pean States. Thus handicapped we
could not compete with other ma
tiOns in manufactures and in com
merce on the ocean. Our ships and fac
tories must be built with and operated
with money freed with the sense of
rObbing interest This you cannot do
as long as the credit system remains.
The' e is no advantage to be derived
from the retention Of the credit sys
tenn. Destroy the credit system and
the demoralizing influence of Wall
street IS gone. Unity this nation by
removing conflicting interests. You
never can have harmony and prosperity
az long as one class IS inteTestd in prey
ing off of the others. What benefit Is
a rObber class to your calling? 1t ex-
lists by the consent of the industrial
class. United you could remove this
devil fish. If it remains who is to
blame2 By he sweat of thy brow thou
shall earn thy daily bread This is
not the way the robber credit system
works. Don't you believe it would be
better to legislate so every man hav
Ing money 10 invest would give direct
implOymen to labor instead of lOaning
1t at high rates of interest, than s,:hem-
ing To secure legislation that will de
preClate the property? Abolish all
banks of issue. Instruct your repre-
sentatiVes Ill Congress to issue a sllffi
Cient volume Of money and put it into
circulation by paying Il portion Of the
expenses OF the government. Estab
ilsh national postal savings banks
There Wlii never be q run on this class
oil banks for the whole TeSC Curces of the
people are behind it Abolish the
credit system, compelling ell TO invest
their money and identify their interest
With the Industrial class. This Will
eliminate the conflicting interests in
our financial system.
Let each State establish a bureau of
information for lnvesters The re
sources of each State Will be kept be-
fore investors and as fast as the credi-
tor class ruined principal and interest,
they would invest it Ill the States.
With fifty dollars per capita the people
would soon get out of debt. Five years
under this financial system would put
the people out of debt; it would double
our production and consumption, give
leisure to improve the mind, make this
a nation OF readers, stop three fOurths
of litigation, add q large class to the
wealth producers now burden, reduce
taxes. give us eight months school dur
ing each year, build fine school houses
in every district, make first class roads,
save us the burden of issuing county
municipal and other bonds, principal
and interest costing us three times as
much as if the transaction was cash.
The chrystalizing of this into law will
remove a burden OF one billion and five
hundred millions each year and reduce
poverty and crime One-half. Give us
this system and in five years the people
will he out of debt, even though the
Sub-Tre8sury IS never enacted into
law.
This writer fav0rs the Sub Treasury
plan in preference to any substitute
yet offered as a supplement- to a correct
industrial financial system. We favor
it because prosperity is bOttOmod upon
a prosperous agriculture We favor il
because it is d deadly blow at gamblers
and spectators in the farmers produce
We favor it because it would give inn
mediate relief to those who need 1t and
chockmata at once at once the gamblers
and speculatOrs. We favor It because
the farmers could fix prices on all tn y
have to sell aud LlvepOOl could no
longer fix prices. This would add i'm
mensely to the farmers and make them
increased consumers Of manufactured
articles. No substitute SO far offered
does this The Sub b-Treasury plan will
compel the gamblers and spectators
III farmers produce to put their money
into some OF our industries. Chrystal
ize the Sub Treasury into law and the
DAYS Of this dGmOrallZng class Is num-
bered. When the wicked rule. the peO-
pie mourn There can be no com
promise with the present financial sys
tenn. 1t must be destroyed root and
branch. We must have an industrial
financial system free from all that will
produce panics The above system
furnish it and from it is eliminated all
the elements that produces panics. 1t
can be put into operation and continued
with less expenses than any other plan
presented. The objection to all plans
= =. .,..o...,r,1 nA J.. thnr do not nllnni-