People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-10-14

to help us to that which we have
abundance of within our grasp?
Cannot you see that the ten thou
sand million dollars onr farmers have
lost in diminished prices on wheat
and cotton exported to England is
England's gain has helped to feed
and clothe her workmen at less cost
and helped her to produce cheap
goods, and now forsooth we must
beg them to be kind enough to loan
us some of thleiilrJmQpey 7the money
our folly has helped them to make.
Where is your patriotism?
Again, do not forget this import
ant truth Neither gold nor silver
are necessary for our money. We
have at the present moment three
hundred and fifty million dollars in
greenbacks in circulation, to redeem
which there Is not a cent in the
treasury. They are as good as all
the gold and silver in the world.
Why? Because they are backed by
the credit Of sixty millions of people.
They are bills backed by Uncle Sam,
and there is no earthly reason why
we should not issue two thousand
millions more of them. This kind
of money would be the nations prop
erty. The gold and silver we coin
belongs to the mine owners. Do
you see the immense difference?
No wonder they hate paper money
and do all they can to brighten you
against it. Think this great fact
over. With this money in hand, the
people could loan all the money we
want to irrigate California; could
pay off the national debt; could
build new railway to the Pacific
and work it at one-fourth the present
freights could employ the two mil
lion tramps and bring the railroad
thieves to their senses or buy them
out at their real value.
If we were to go in for free coin
age of silver at q fixed price, and
coined one thousand millions in the
next five years, that would be so
much profit to the mine owners after
paying the miners wages. If the
miners were in South Africa or
Mexico, of course American work
men would get no benefit from the
wages spent there. Suppose these
capitalists built new railway, that
would be their property, out there is
no guarantee that they would invest
it in this country at all. They might
subscribe to foreign loans.
Ii, however, the nation issued one
thousand millions in paper currency,
and built railroad with it, we should
make sure Of finding employment for
American labor and the pooplo
would possess railway whose COM
petition would force down the
charges Of all other lines, put thou
sands Of dollars in the pockets of
every farmer on the line, and give
abundant employment to any silver
miners who might be injured by the
disuse of silver money.
Look at the national bank system. Y
What is it, in plai4 1@aguoae, Durav.3
huge fraud on the people. Il the
people can make their own money,
why in the namej of common sense
cannot the Government issueit direct
to the people, as the Peoples party
propose, either in loans on good Sc
ourity Gas the sub treasury plan in
tends), or in public works, buying
the railroads and paying the en-
ployees, etc. ? Instead Of this, what
do they do now? They lend the
money to tho national banks in big
amounts on deposit of United States
bonds security. They charge these
bankers only one per cent interest
think of it |, and the bankers loan it
out to you at ten to fifteen or more
per cent. And this is the peoples
own money! Do either Of the old
parties propose to alter this? No,
indeed. Wall street bankers sub
scribe to their campaign funds, and
they dare not.