The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1893-09-08

banking purposes on the basis of de-
posit OF gold coin or bullion In the
United States treasury for the full am
cunt deposited, TO any citizen or COM
pany Of cilizcns Of the United States,
or to any state wishing 10 establish
state banks for iis fiscal purposes, this
we think would meet tho wants Of all
classes Of our people. Any state wish
ing 10 establish banks ON this basis
could issue its bonds (bcaring say two
or three per cent interest payable an-
nualIy) payable at such periods as may
be deemed advisable, and deposit
them with the treasurer of The United
States with authority to sell the samo
at a stipulated price, and when sold is
sue to such states legal tender treasury
notes for the amount with the guaran-
lee Of the United States for their re-
demption In gold, If that bc tho stan
dard of value. We think such bonds
could be floatcd at par, but If any diff
ficulty should present as TO interest 81
lowed Qf deemed too small) exempt
ion from taxation would, we think,
readily attract investors. On the notes
thus issued 10 the banks, tax of ono
per cent per annum could be assessed
for the purpose OF establishing a fund
for the further guarantee OF the re-
demption OF these issues, which should
remain in the United States treasury.
In due time this would become the
safest currency IN the world TO the note
holders. No state bank or any num-
Der Of banks without tho guarantee OF
the United States can furnish a coun-
try of such extent rs this with n stable
currency, Mt all times convertible into
gold coin III that DO the standard of
value. Such q system of finance as this
could, wo think, meet the requirements
of all classes of our citizens, guard n
gainst tho evils of our unconvertiblc
paper currency, provide one Of uni
form value, and avoid proiuse issues
aud sudden contraciions. AS far MS we
can sec 1t would obviate all the object
ions hitherto made 10 state banks. IL
these banks should receive deposits,
thirty or sixty days should be allowed
them to meet the demands of deposit
ors II required TO onablc.them to pre-
pare for n run caused by any unreas-
onablc apprehension on the part OF de-
positors. Such n system OF banking
would, we think, tend to strengthen
and insure national unity and develop
ment. The wants Of each section of
tue country would be more readily
recognized and attended 10, while at
the same time Il would lift from the
shoulders of industry an almost un-
supportable burden and furnish a cur
rency co-exicnsive with the nation.
In conclusion wo would say to our
farmers and Alliances composed as
they are of farmers) that we believe
and our state legislatures can
afford you all the relief you need and
have a legal aud constitutional right
to expect, but II requires time to de-
velop aud mould public opinion
which constitutes the motive power
by which our legislators are moved
aud controlled and 1t seems unwise To
longer iritter away your strength and
power for usefulness in trying TO forcc
The adoption Of such Utopian meas
ures as the sub-ireasury scheme. You
require no third party TO attain what
you need aud are entitled to. All re-
quired legislation that may be Just and
can be most speedily
procured through tho imsirumentality
Df either of the two great parties al
ready organized. We need but two
parties, one TO watch while the other
rules. The effort 10 organize a third
party with the view OF forcing lcgis-
alton of doubtful constiiutionalily
and cxpediency will never prove
success. Tho farming aud laboring
classes united can always hold the
balance Of power In either Of our two
great political parties, but as third
party will never accomplish any great
good. What you most need at this
lime to enable You 10 sustain yourself
yes Is the same banking facilities lcgis-
alton has conferred ON other classes
IF which you are not able for the rea-
sons herein assigned to avail yourself
yes. And this you can most readily
obtain through the instrumcntality of
Tho Democratic party now Ia power.
II you persist in your adhesion to q
bird party you may here and there
advance tho interest Of some dis
appointed aud ambitions political as
Diranf, that Is all. Without proper leg
slailon to aid you and protect your In
erests, your efforts to better your con-
liiion will ever prove futile and vain.
Make known your wants as farmers
% senator's and representatives and
ook after them yourselves diligently,
earnestly, intellIgently, aud by all
means avoid the loss of valuable
ime by advocating only such measures
Is arc legal constitutional and feasible.
Agriculiure is and always has been In
N ages and countries and life of toll
md drudgery, and as every other In
lustrY in the state Is directly or indi-
ectiy dependent on 1t, II is entitled 10
he fostering care of the government,
md II Is your duty to SEQ that Its Just
laims are recognized. AoRIcoLA.
wesszide, Miss. Aug. 10. 1893.