The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-11-24
Evansville Courier.

that authority 10 - hostile TO the spir
aud intent of the Constitution - II
dangerous to the liberties OF The Peopl,
To put the whole transaction In Z fe,
words, The People pay Natiousl Bsuks
lper cent per aunum for the privilege {
furnishing them with Bank notes guar
anteed by The People, TO lend back I
The People at 6 to ~ per cent per auuur
according to locality! And this 10 III
Isystem that 10 characterizsd % 1.-THE bea
the world ever sAw."
! II certainly couli not be better To-
the Banks, unless The People paid NOR,
than 4 per cent for the privilege OF sn
dorsing their notes. as they did for man,
years.
But II IL most vicious system o. 10
40 The People are concerned. Precisel,
the same principle is involved % tha
Sub Treasury loan" scheme demanded
by the Populists. This scheme compre
heDds the issue of warehouse receipts by
Tho Peoples Treasury against ali pro
ducts OF the farm, TO the extent OF one.
bali the value Of the produce presented
The POpulists would have the Peoples
Treasury issue 500 10 certificates OF
notes against t200 worth Of wheat or
corn, tobacco or cotton. They do not
ask for notes TO the extent oi
80 per cent Of the value OF
the produce deposited with The Peopls's
Treasury. They do not ask The People
10 pay them interest ct I per cent or any
other per cent on the full value OF their
produce, while It lice 10 the Treasury
warehouses. They would be liberal in
their treatment OF The People, II The
People would extend the came principle
10 their wares.
They say: "Our corn and wheat are
certainly as good property as our bonds
that the Banks have got old Of for Il 10
the products Of our farms on which We
rely to pay these bonds of whom they
mature. IL the debt We owe, but which
Is not yet due. is good enough property
as the basis for the issue OF notes. on
which the Banks can make their elk 10
twelve per cent. interest, in addition to
the per cent. We pay them on the
bonds, surely the wealth We creste-the
corn, wheat, tobacco and cotton-are
good enough property ~ . basis for the
issue 10 US OF notes TO the extent one
half it's value"
The principle is the same in both
cases and 1t 10 entirely wrong In both.
Yet The People Of the Uuited States
should demand thst the vastly profitable
system OF supplying private Banking
corporal. Ons with notes guaranteed BY
The People TO be loaned back to The
People at usurious interest be avOlished,
or they should demand that the actual
wealth created each year by their toll
shall be extended the same privilege.
II a Banker may put up bonds aud get
ninety per cent OF their face 10 currency
. Farmer should have the privilege OF
putting up his farm products and receive
one.haIf OF their value In currency.
The present congress could take no
action that would 90 instantly command
the 'avor and the approval OF the peo.
pie as 10 amend the law taxing State
Bank notes ten per cent SO - 10 include
National Bank issues, aud provide for
the issue Of oil paper currency direct
from The Peoples Treasury, aud made
receivable" for all debts public and
private. II would not be essential TO
make them reJeemable In coin, for
nobody ever heard OF the presentation
ofa greenback for redemption. The
legal tender quality 10 redemption itself.
for no sane man would 20 two feet out
Of his way to redeem Q gresnbsck dol
lar in some other kind OF dollar that
could pay no more debt than the green.
back itself pays. Obviously there could
be no more reliable safeguard OF aI
Treasury gold reserve than sn exclusive
y legal tender greenbsck currency.
There might be tight timea. but there
would always be M absolute sense OF
security - TO the souudness OF the cur.
rency. There would be less timidity ON
The part OF the Bsnks themselves, for
having no nO;es OF their own to redeem
hey would have only to provide tor the
demands Of their depositors, and even
his source Of anxiety could be disposed
Df by supplementing the government
Of the currency with . safe
Ind convenient system Of government
savings banks.
The world has outlivcd the slow,
cumbersome and oppressively costly
system Of effecting exchanges. Tho
lime IL ripe for ito reform on lines that
other interest than the convenience, re-
lief and profit Of The Pc ,pls. The 10.
lrious greed OF the Ninsteenth Century
'hould have no chance for foot hold In
iscal plans devised for twentieth cen
ury enlightenment.
Farmers Institutes will be held at|
Bordtn n, Clark county. December ~ and
I3 Edwsrdsville, Floyd county. Dec.
- and -; Corydon, Harrison county,
Dec. IL and Is; English, Cesw ford
.ouaty, Dec. Is and l6; Lexington,
Scott county, Dec "A sad Is; Bedford,
Lawrence county, Dec. 20 aud q
Orange county, Dec. 81 and 92. Salem.
Washington county, Dec ~ and % Il
Ireland. Dubois county, Dec. 30 and 80
1.-THE objector 10 vaccination could be
'arried back ffty years, when vaccine.
ion Was not common, he might be aur.
, ,riaed A the mn m hor NJ nifsad And aeap.