The great West. [volume] (St. Paul, Minn.) 1889-18??, 1892-06-24
Highest Of all in Icavenig Power-Laest u Report
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Senator PETERS bill ''to increase
the currency and provide for it's
circulation has been temporarily
sidetracked. This bill provides also
for reduction in rates Of interest and
for the establishment OF a bureau
of Loans. This bureau is to be with
in the treasury department, under
the supervision OF three commits
sioners. 1t provides loan agencies
to be established at the capital OF
each state and territory. The OBJ
iect sought is for the government to
loan money directly to the people
through responsible real estate and
loan agencies" The shortest time
is one year, the smallest amount
500, the greatest $4,000 for any
one person or family, and only to
procure or save home. The funds
required to carry out the plan are
to be provided by the issue OF treas
ury notes equal in amount to a dol
lar and a half for every dollars
worth OF gold and silver coin and
bullion belonging to the United
States. The bill provides that
banks and corporations shall not
receive more than 5 per cent interest
or 4 per cent if the loan extends over
one year. Senator PETER expects to
address the Senate upon the subject.
The political situation SINNERS
down to two sides-eorporation VS..
people. The two old parties repre-
sent the former and the new organ
ization stands for the peoples cause.
Has the republican party. ever put
a law on record that made it easier
for the laborer to make a living?
1t has been said that you cannot
legislate money into mems pockets.
Corporations, syndicates, and rail
road grants give lie direct to that
assertion. Has not the republican
party put laws into operation which
made certain men many times mill
ionaries. And. yet there are men
who inveigh against what they call
class legislation in the peoples party
and cry out against the measures
advocated in our platform which
will give to the toiler and producer
just and equitable laws. Hasnotthe
lower house OF congress been in pos
session of the democrats for nearly
sixteen years and what have they
done against monopolies, land syn
dicates, and the defrauding OF the
common people? Not a law could
have been enacted without their
sanction. They are the helpers and
abettors of the republican party.
Their prayers, hopes, and aims, are
one. How will you vote?
Knock out the sub-treasury from
our demands and you pull down the
main pillar. What the country needs
and must have is more money and
some means to get it to the people.
This the sub-treasury and land loan
provides, and if this plank is knocked
out the whole structure is ruined
Southern Alliance Farmer.
A Trust which may be Expected.
We should not advise any one to
make a wager that it will be five
years before the entire wheat, -four
and breadstuffs supply of the United
States is in the hands of the highest
sort of a combine.
The wheat market is indeed al
ready in a condition which would
make the organization of such a
trust no very difficult matter. The
New York and Chicago produce ex-
changes handle nearly the entire
wheat product of the United States
and the New York produce exchange
works through the Chicago board of
trade. The Chicago board OF trade,
which thus practically controls the
wheat supply, consists of 372 firms,
OF which only 20 are strong ones.
These 70 firms usually control, in a
moderate market, as was testified
in a recent investigation, from seven
ty-fve to one hundred and fifty
millions OF bushels of wheat. Add
ing to this what the minor firms and
the elevator companies hold, and it
appears that small group Of men
in Chicago with their New York
hackers, in an average state OF the
market, hold over 2OO,OOO,O0O
bushels, or about one half of the
total wheat product of the country.
Gigantic as might seem at first
sight scheme OF combine to con-
troll the entire wheat product, it will
be seen from these statement that
we are not so very far from it.
When the few score firms which now
among them manipulate the wheat
market, or a few of the biggest OF
them, shall make up their minds
that they can make more money by
uniting against the people than by
fighting one another, the trust will
come. John D. Rockefeller or the
Vanderbilts could bring about such
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