Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-03-16
NOT WELL TAKEN.

Interest Paid by the Peoples Banks on
Deposits Would BE Paid Those who
Borrow Such Deposits.
The handwriting is on the wall that
tells of the downfall at no distant day
Of the nefarious national banking sys-
tenn. The bloodsuckers upon the body
polite read and are active In conjuring
up new schemes to take its place by
which their power to amass fortunes
off the earnings Of the people may be
continued, at the same time appearing
to submit to reform Let the people
beware. No scheme should be coun-
tenanced that will give to the few the
power of controlling the volume OF the
nations money, thereby debating
prices of labor and labor's products.
No scheme should prevail that proposes
to oblige the government to pay inter
est on money deposited with it for safe
keeping
Money never increases itself by in
ertia. 1t is only when the hand of
labor makes use of it that it is instru-
mental in the production of more
wealth; therefore the simple fact
that a man owns money should not
entitle him to have the chance t. have
his wealth increased at the expense of
the whole people, while not turning
hand himself to use that money 1t
will be burden enough for people who
will use money to be obliged to pay the
government for the right to use it,
without being taxed to pay interest
to people who will not use their money,
besides
The only safe banking system for a
nation and for the people is a govern
ment banking system in which the
government receives nominal interest
but never, under any circumstances,
pays interest.
The idea that n nation, with full con-
stitutional powers to "coin money and
regulate the value thereof" should be
borrower of money is just as absurd
as for the Almighty, with full powers
to create new worlds, should borrow
worlds. Volumin aus Drained financiers
have kept the toiling masses in bondage
since the days of Adam by false teach
ings upon the money question and it is
time on the eve of the ushering in of the
twentieth century that the people of
this land of freedom should insist on q
| correct system.-Iowa Farmers's Trib-
| une.
judgment, not we'll taken. A system
of deposits, loans and discounts is abso-
lutely necessary under the present sys-
tenn of complex business relations AS
suming that private banking was en-
tirely abolished, and the safety of de-
posits absolutely guaranteed by the
government, thus obviating the neces-
sity for bank reserves, there would
NE
be less than one-tenth sufficient money
to transact the commercial, Industrial
and productive enterprises of the ma
ton upon cash basis. We now trans
act ninety-seven per cent OF our busi-
ness with checks and drafts; we should
; then be yet obliged to transact from
} nine-tenths to eleveu-twelfths of such
business with the same credit devices
In other words, each dollar in money
must multiply itself pine or ten times.
| Afsssey, honestly acquired and saved,
! represents ''stored labor" and calls for
its face value in the products of labor.
1t works no injustice to any one, for
the owner of such capital (money) to
, receive fair remuneration for its use.
All wealth is the joint production of
t labor and capital, and each factor is
justly entitled to Its fair proportion of
the joint product AS the net annual
product, or increment of the whole
people, is about four per cent, capital
Is entitled to not more than two per
cent Under system of governmental
banking the borrowers of deposits and
not the people, or government, would
pay the interest for the use of the peo-
) pies savings and also the expense OF
, the banking system. If one per cent
, were paid on time deposits and borrow.
, ers were charged two per cent, Dor.
, rowers would pay the expense of the
5 banking system AMI would yet get
necessary capital at two per cent,
a while those who did not borrow would
be st no expense whatever, nor would
private banking institutions amass
= enormous fortunes at the expense OF
3 productive and industrial labor.
All that is necessary is to preserve
the present banking system of details
but change the ownership of the bank.
5 from private hands TO the peoples gov
/ | ernment GEORGE c. WARD.