The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1892-08-12
ALLIANcE COLUMN.
Interesting Reading OF And For
The Order.


The Order.
United States Senator PefSer, of Kan
sas, ON the currency Question.
Replying to your request under date
Of the 9th instant 10 .relation to supply
ipg the place Of nstional band circu-
lation, h .ve TO sag that in my own
Judgment the best substitute is what
tho people of Kansas favored fourteen
years ago, namely, united Sites notes,
commonly called gresnbacks; for as you
know, national bank aotes are redeem
able in United States notes. think it
would be we'll to abolish the whole sys-
;sss;,.;ss ten 2. sx s,,,s ~,s Ssss NO banking is
anything which isto be used as legal
tender money unless the issue is support
ed by the power, aud the material used,
deemable in anything. 1t ought TO 60
out to the people as honey, fullfledgcd,
ready for duty, without any weight or
what yer. What we ,,sc as money should
Uo opooiutSiy llCC ttVtU oil COuultlOuS, 81
that there could besno "runs" on banks
in ame of stringencF, and no panics be-
cause debtors are unable to obtain legal
tender money, Isbeiieve that the time
has come to nationalize our money. We
took one long step In that direction when
we adopted our national banking sys-
tenn We taxed State bank notes out of
existence, substitute6Ia national currency
for purely local crhfency; and it was
only short time after embarking in this
new enterprise until We discovered that
the bankers of the otntry were masters
of the financial situation. We find that
sastead of serying. .thekneonle they served
thcnselves. In 1882 Ahefc were $685.,
0Oo, 900 Of bank tesfirculatiou Since
that time about $24ep O,000 of It has
been retired, not beclsse the people did
not need the money!, but because the
banks realized profiR from the sale of
their bond at psemiunip the bonds that
they had deposited as security for circu
lation. Our experience aud that of other
nations has been that banking corpora
tions are private schemts for profit to indI-
vidual persons, and osr observation has
taught us that there is, only one safe way
to avoid the dangets 10 which that sort
OF financial management subject US; th,t
is for the nation itself 10 prepare its own
money, every dollar oft, issue it to the
people directly thohgh government
agencies, wholly without the use ard in
tervention of banking corporations or
other private sgenciess
You understand from the foregoing
that would not. anl,7 alstitute United.
States notes, or trcasuHy Notes, II you
choose, for national bank notes as they
are being retired, but / would substitute
that sort of money forai bank issues;
and would do even more than. that; l
would not make money-|oUt of promise
TO pay; that is to say. would not w.ite
ont promise to pay money and call that
promise money; but I would use a piece
OF paper just as we ard now using piece
of gold or piece of oliver, and make
that money, providing in the law what
its functions shall be That puts the
influence, the credit, and the power of
all the people behind the money. Then
we will have gold and silver and paper
at par, one with the Sther; and that, if
we will reduce rates ohinterest down 70
the level of profit on lAbor, so that men
can make as much npney farming or
blacksmithing or carItntering as they
can by lending money! will give us a
safe currency, a soundI financial system,
and no more money psnics.
*r~ -
l.. L. POLK ON fHE DOLLAR.
believe that. both of the parties are
afraid of Wall str, ,st. They are not
afraid of the people They say to me,
'Don't you know YOU can buy more with
n dollar than nnnlH IN tho hio
tory of our countlyT That may be
true; but suppose youowed $1,000. Ten
years ago 600 lusheB of wheat would
have paid the debt Now it requires
1, 400 bushels to pal it, Suppose you
have $5, how much more taxes will it
pay9 How much mfre interest on your
debt, how many mde physicians bills,
how many more lawyers fees will dol
lar paya Will it pay four times as much
as 1t did, and how win dollar cost to
get ita
A tramp ran up to gentleman one day
and asked him If he could tell him where
he could get a good square meal. The
man pointed out place where he could
get meal for a quarter. The tramp
thanked him and stated off, but had not
gone far when he came running back.
"You were so kind to tell me where
could get nice meal for quarter. Will
you now tell me where I can get the
quarters" And that is the way with the
politicians: they keep tellino va what va
cuu Guy TOT II uonar, put rney 90 not tell
us where we can get the dollar.
*-sI
A bill has been introuuced in Congress
msking it unlawful for any railroad,
steamboat, or other transportation com.
pany, doing an inters ate transportation
or carrying business, to transport or per-
init to be transported over it's Ii es any
body of armed men, whether assuming
to act as detective OF police force or not.
WISE SAYINGS BY WISE MEN.
There is no more Insignificant thing,
intrinsically, in the economy of society,
than money. Stuart MI
ThD. Lar