The midland journal. (Rising Sun, Md.) 1885-1947, 1893-09-15

lish in the country. There would be about
as much use for fgurehead president for a
government bank as the fifth wheel 10
coach. At the very outset Mr.. Hill pro-
poses to literally throw away $24 100000 as
a sinecure on set of useless officers, and
his scheme is filled with such extravagancies
all through.
Such bank would need only for its work.
ing force a cashier, teller and sufficient
number of clerks and book keepers 10 per-
form the clerical work. The salaries for
these he places at double what efficient
officers now receive in country banks. The
for this proposed class legislation Items of
thousands" he says, ''of aged and infrm
people, minor children and widows are living
off of the proceeds ofinterest money loaned al
five, six and seven per cent" So Mr.. Hill
proposes 10 divide with these aunuitants
As an off set to these children and widows
there are many millions of the same class
who have 10 work late and early and divide
their scant earnings with those items of
thousands" of annuitants. What right has
government to levy tax on money to foster
these idle people at every body else's ex-
pense who has to use money? This kind of
fallacious reasoning runs all through Mr..
Hills utopian plan.
The simple duty of the government in
establishing banks would be to receive the
peoples money on deposit and loan it
to them at bare cost--act as their distrib-
uing agent. If the post Office were cor
poration concern lots Of widows and orphans
would own stock on which the less fortunate
of their fellow men, women and children
| would be taxed to pay interest to such pets
of paternal government.
cit would be ruinous," says Mr.. Hill,
Ito large class of people to lower rates so
rapidly" Government banks should be for
the accommodation of the whole people with
favors to none, and if people didn't choose
TO deposit their money in the bank ii would
be nobody's business but their own.
The widest yagary of SIR. Hill is sys-
tenn of checks to be used in place of money,
which we have not space to describe. His
plan for disbursing the millions which four
per cent interest would bring to the govern.
ment, after enormous salaries 10 officers and
pet annuitants were paid, is the most far.
cical of all. He would make lakes all over
the country TO hold the rainfall, experiment
in meteorology to prevent storms, and apply
the balance TO making county roads and
bordering them with stately elms. The
following will serve as fair specimen of
of Mr.. HIPS cratic notions Of finance:
"ln the first place." be says, "lhere is no
need of making, of issuing any more
money that there is sufficiency in the
country with which to do business-money
that we have been steadily accommodating
for 400 years, money in great abundance.
But owing TO lack of confidence in banks
this money is hidden" ~
| Doubtless the reader has had enough of
Mr.. Hill's fantastical plan for establishing
government banks. Such books are an
injury to the cause they attempt to serve.
We advise Mr.. Hill to burn The book, retire
into seclusion and study the science Of
money.
We are indebted to Charles III. Kerr &
Co., Publishers, 175 Monroe St., Chicago,
for copy of this curiosity as banking
system for the government.