Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-01-20

. state, railway ana municipal bonds, TO the
extent OF 20 per cent of their value.
j. First mortgage loans on real estate at not
over 50 per cent OF its assessed value wheu
guaranteed by corporations with not less than
tlOO,OO0 cash capital.
Certificates OF deposit of gold or silver
coin and bullion in the treasury or mint Of the
United States
s. Storage warrants and warehouse receipts
OF pig iron, cotton and wheat in the custody of
PAID up cash capital. the merchandise stored
except pig ironl being duly insured in good
companies In favor of the bank depositing
same; the warrants and receipts being availa-
Die as security for circulation only when in the
hands OF a national bank
The limit OF circulation ON the three last
named classes to be the coin value of the gold
and silver deposited, 20 per cent of face value OF
the mortgage loans, and IS per cent of the
market value of the pig iron, cotton and wheat
warrants or receipts.
1t is true that the bill was introduced by tho
senator by request, but this feature OF IL savors
strongly of a "sub-treasury'' scheme except
thatit would operate through the national banks.
When senator from the great state OF New
York introduces such a bill this, while his
colleague openly advocates free silver coinage.
surely "the world do move
The other notable features OF the bill are the
provisions for converting this circulation into
two per cent fifty-year government bonds and
iCOOHNSHlinS lneSe INTO clrSui1tlOn in OF
not less than S5OOO. making the notes legal
tender for all private and public debts and for
the creation of s500o0.9O1 guarantee fund for
protection of depositors, first by appropriation
by the general government. and the release of
this fluid by the gradual accumulation of a fund
produced through an annual tax OF one-tenth OF
one per cent on deposits in the national banks.
1t will be noticed that while the
above bill contains an admission that
he,
are a safe and desirable basis for an
issue OF money. the provisions of such
bill in relation to such issue are virtual
ly identical with the much written of
Argentine land cedulas," to which
the plutocracy has persistently and de-
risively compared the land-loan plan Of
the alliance demands Section S, with
its provisional details, is actually moth
ing more or less than the much abused
sub-treasury plan, with its benefits
carefully limited to the bankers. to the
exclusion of the people
The 'other notable features of tho
bill" referred to are identical with NV
proposed interconvertible postal saw
ings bank deposit certificates, except
that the interest is put at two instead
of one per cent, while the minimum
limit of conversion being put at s.. 900,
the benefits of such interconvertible
feature are carefully and with devilish
cunning withheld from the people and
restricted to the bankers, thus continu-
ing in the hands of the banks the con-
troll of the volume of currency in circu-
lation.
1t would be intensely interesting to
know just at whose request" Mr..
Hiscock introduced this bill, as enough
is therein conceded. as to the justice,
soundness and feasibility of the peo-
pies monetary demands, to give to the
people glorious victory in a fight
waged upon the foregoing platform.
GEORGE c. WARD.