Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-01-06

per cent. of their value, which NAV be
issued to the company in new bank
notes at tax of one per cent This
gives an auxiliary amount of money.
Note here the bottom, backing or secur-
ity given for these national bank notes
is the bond of the United States. an
obligation, if you please, of the United
States to pay; so it is the government
taking its own paper as security. We
are not afraid to say it is the first case
on record where an evidence of indebt-
edness is accepted as security. 1t is
clear that on the governments solvencv
depends the entire banking system.
The governments promise to paw is the
sole backing for the national bank
notes; then why is it not sufficient
backing for treasury notes issued as
money independently of the national
banks?
Thus we see the methods adopted to
carry out the provision of the constitu-
ton relating to the coinage of money.
With metallic money. the free coinage
Is an admirable plan. 1t gets into cir
culation without being preyed upon by
the money vultures 1t is true as its
drifts through the channels of trade it
frequently lodges in the national bank
vault, where it is held for a ransom.
No one has been heard to complain
that it was class legislation to allow
the gold or silver miner to have his
product changed to money. The sys-
tenn Is void of complication. Not so
with national banks They Sc cure the
Of cirr1 nj l,n of
just as the miner does. Then, through
their gigantic com bination, they not
only retail the auxiliary volume out to
the people at usurious rate, but clutch
every dollar from trade for speculative
purposes
How would system do by which the
volume of money in circulation was
made absolutely dependent on the de.
mand for money? Let the method OF
issuance partake somewhat of each OF
the present plans. Let it be issued as
in free coinage to a producer and not
an accumulator. Let there be back.
ing for the issuance as with national
banks, but let that backing be an evi-
dence of wealth and not an evidence o1
Indebtedness. Was ever such a plan
proposed before? Certainly, read the
Ocala demand as modified at Indian.
apolis;
''We demand the abolition of national
banks. We demand that the govern
ment shall establish SUBJ treasures OF
repositories in the several states, which
shall issue money direct to the people
at low rate of taxation, not to exceed
two per cent per annum, on non-per-
ishable farm products and also upon
real estate, with proper limitations
upon the quantity of land and amount
of money. We demand that the amount
of the circulating medium be speedily
increased to not less than $50 per cap
ita. Nashville (Tenn) Weekly Toiler
HIS POUND OF FLESH.
The Address of the Master of the IIIlnoi
state Grange Shows How Shylock En-
forces His Demands in That State.
The Illinois state grange met a
Springfield on the Sth, with a good
representation and showing an increase
in oranges and membership. The an
nual address of j. NJ. Thompson, grand
master, dealt largely with crop stats
tics. He puts the average price o.
wheat during the past year at 81 cents
per bushel, and makes the total croI
worth about SIS, 000 600, the net profit
on the crop. by his figuring, being les!
than two millions. He shows that O.
the last thirty-two years during the
first fourteen wheat was raised at {
profit, but for the last eighteen it ha
been raised at an actual loss. Tht
farmers of the state are now paying
according to Mr.. Thompson, interes
amounting to S6. 500, 900 per annum on
mortgage inde ebtedness of STAG, 600, 900
while the net profit on all farm prod
ucts is only about $1,000, 0,000 Thi
would leave to the farmers of tn,
great agricultural state of Illinois a.
their share of the years toll tn,
small sum of $500, 900. while Shylock'
share is 800, 600. In other words, O
the net earnings of the farmers of Hi
nois, the creditor class, the none,
power gets little over 81 per cent o
the farmers products, leaving him
little less than three per cent. will
which to pay his taxes and support hi
family.
This is decidedly the worst showing
we have ever yet seen made, and Nh
Thompson is in no sense ''calamit,
howler," for he is an old party maj
and is opposed to independent part,
action. In his address he opposed
new party and recommended granger
to seek relief in their respective oil
parties.
1t does seem a little strange to u
how Mr.. Thompson, in the face of hi
own figures, can make such recon
mendation. Just as well find a ma
roasting in furnace and, while point
ing out to him the burns and blisters
ask him to squirm little but nese
for once to think of getting out of tn
furnace.
So far as we are concerned, and S
far as the f. M. B A 6 are concerned
we are not going to champion any pc
litical party, new or old, but we ar
not going to point out to the peopl
their blisters and then urge them t
stay in the fire that burnt them. ]
they can wiggle out in Gods name, lie
them wiggle.-Mt Vernon Qll) Pre-
gressive Farmer.
Pronts OF Agriculture.