The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-04-12

Leu us F0VI6W GQ0 principles involved
In these wicked schemes They attempt
70 dodge the Constitution by making
Gnese coin certificates and not bills OF
credit, but by issuing three to one tw O.
Cnlrds or the bill is credit and two-thirds
unconstitutional. On one dollar in
vault three are issued. Thisis trebbling
the capital of the banker, two dollars
out OF three made of wind This two
dollars made of wind or credit he is
able to lend at to Is per cent, thus
making interest of 16 to 80 dollars per
annum on something he does not pos
sess What right hasany free govern
ment to give any set of individuals
such special favors? Talk about the
Farmers Alliance wanting class legis-
lation! No one but an ignoramus or
one covered with the blacklist moral
turpitude would do it, and then advo-
cate the old State bank system.
But these special privileges are
pleaded not for the people, but for
those who have large surplus funds. 1t
is for that class who is already fortunes
favOrltes to enable them to rob 16 to 80
dollars per annum from those who may
need money. The Constitution and
equal justice never did hinder this
same class from getting laws for their
benefit.
Let us look into another proposition
made by the plutocracy in regard to
State banks. They propose to issue on
State and other bonds founded on tax
ing the people. Thus a one hundred
dollar State bond drawing 6 per cent.
or a town bond drawing per cent
will have one hundred dollars more
paper money issued on it's faith to be
loaned at 8 to 10 per cent This is
| doubling the capital of those individ
uals who are fortunate enough to be
able to buy bonds and enabling them
to appropriate by wicked law from IA
to II dollars yearly out of the rewards
of labor. These men who propose to
override the Constitution in order to
treble and double the capital of the
laws favOrites will tell you that their
party is the friend of the people.
Friends equally as good, now are roast
ing in the penal fires of torment.
The people come around with a prop
sition that the government issue money
direct to them, giving an adequate
property security by paying 2 per cent.
tax. These striped friends of the peo
pie say no. But issue to the wealthy
capitalists three to one, or to his bonds
and permit him by this twist to tax
the people 16 to 30 per cent. These
men and those journals who make this
last proposition is on the side of plu-
toc16Gy. This they believe is the win
n5pg SIDE and they would sell their
SSuntry ana the 5IIUas On 45N.V -TeoDIe IN
order to win. There will be soon b0u
two parties III the United States. One
will be on the side of the people and
| the other will be on the side of money
Every man who loves justice, freedom,
and the republic may as we'll take his
side now. The contest is inevitable.
| The conflict irrepressible. Come out
from plutOcracy, oh ye people, that
you be not partakers of her sins. The
voice is heard from the lakes to the
Rio Grande, Choose you this day
whom you will serve"
There is another idea we would ad-
vance: This paper money proposed to
be issued to the wealthy capitalists has
a security for it's redemption. We
note in the old State banking system
two-t thirds of that security was the
property of the stockholders, some
times. Here we have money based on
property security to favorite few and
denied to the tyrant- ridden people
What else? The people propose to pay
a tax of per cent. on their issue, and
this banking proposition only pays the
expense of issuing Thus we find that
it is not the principle of issuing money
direct to the people that plutocracy is
fighting. They are simply fighting the
people in order to continue to oppress
and procure the rewards of their labor
for naught. This is the Alpha and
Omega in his contest. It is the people
on the one side struggling for justice
and freedom and the tyrants and their
tools struggling to hold them down.
By treachery, by blamery, by lying
and slander, by every device known to
sharp and vllainous cunning, they
would deceive them, they would rob
them in order to place themselves and
plutocracy in power. They know nc
Justice they know no right, they have
no principles standing in the way ot
party, but upon the altar of avarice
and plunder they would burn the heart
of a Washington and worship the
image of Bendict Arnold.
w. r. LINDSAY.