The midland journal. (Rising Sun, Md.) 1885-1947, 1892-06-24
GOVERNMENT
BANKS.

movement. 1t is the key which must
unlock all difficulties complained OF
and scatter the power of the corpora
tions to the four winds. A contempt
AIRY writer very apt'y says:
We, the people. now support the
nobility of Europe, who loan us money
through the great mortgage companies
If we had to rent wagons of Europeans,
and had to pay Sc or So a year for the
use of one worth 500, besides paying
for al! damage to wagon, and we knew
the government of the United States
could supply all the wagons we needed
equally good at half the rent, and
besides keep the money among our own
people, in our own country, what would
any person of sense say about it?
This is homely way of presenting
the great question Of finance, but is the
true way.
The money question is represented
to be great and wonderful question,
requiring the profoundest minds to
grasp and comprehend it, when it is as
simple as hiring wagons. In its best
sense money resembles wagon. Both
are mediums or tools of conveyance.
They enable people to exchange and
move their products. Deprive the
country of either, and trade would
almost come to standstill.
Since the American Government can
make money, and the American me-
chanic wagons, why should we go to
Europe for either? There is every
reason why we should not. Although
we make our own wagons we rent a
large part of our money from an Euro
pean aristocracy of wealth, because we
have delivered the money making pre-
rogativc into the hands of national
bank corporations who are largely
identified with foreign money interests.
Our Vice President is partner in an
English banking firm, Hundreds oil
millions are taken from the United
States to Europe every year, the inter
est and earnings of money hired from
the aristocracy of the old world, or in
vested by them in mortgages, stocks
mines, lands, factories, breweries, cattle
ranges and other enterprises, because
our people could not get money in theil
own country to develop and carry on
these lines of industry. This is akin
to hiring wagons from Europeans to dc
our hauling and pay ng them high
rents for their use.
The money of these foreign nabob'
OF wealth has been hired-inyested
which is in results the same-becaus:
the hands of our Government have
been tied by venal or ignorant Con
gress-more likely both venal and ig-
noraat-and prevented from supplying
the people with the money they bav'
gone to foreigners for,
The first plank Of the St. Louis, O.
Peoples conference, platform is calle(
the money plank and reads:
We demand a national currency safe
sound and flexible, issued by the Gov
eminent only, full legal tender for al
debts, public and private; and tina
without the use of banking corporations
a just, equitable and efficient means o
distribution direct to the people, at
tax not to exceed 2 per cent. be pro.
vided, as set forth in the sub.treasur,
plan of the farmers A Alliance, or SOM
better system.
This sub-treasury plan of the ALI
ance, which has served the monopol,
press and the politicians of the thre
old monopoly parties as subject o
Misrepresentation and abuse, is nothing
more than suggesting species of Sc
curity on which to borrow money, AM
one of the very best, but which ha
been ruled out by the national BAN
monopoly for very obvious purpose.
The laws of modern trade and com
merce have left no details to be devise
in the matter of a financial system
All This has been arranged and ad
justed in the finest working order
All that is necessary is transfer tn
prerogative which has been bestowe
upon corporations back to the genera
Government and the people, wher
it belongs; or let the Governuen
assume its duties, without disturbin
the national or any other banks, an
proceed to issue money on sue
security as the banks and rrivat
money lenders at present require, wit
such other collaterals as would prov
safe securities for the return OF tn
loans.
Issuing money is but partial full
flment of the financial duty of tn
Government. Government shout