People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1894-06-28
HONEST MONEY
IS GOOD MONEY.
The Peoples Party Plan, or 100 Cents
to the Dollar, Restores Prosperity,
Destroys Usury-It Also Destroys
Money Panics.

worth of gold and about 40 cents for
the amount Of silver there is in silver
dollar, hence, if intrinsic value is to
govern, neither gold nor silver is
honest money, because it does not cost
100 cents 10 mine the metal they con-
tain. On the other hand the govern
ment's greenback paper dollar is an
honest dollar, because it takes
100 cents in service, supplies or prop
erty to get greenback dollar. O
The Peoples party plan is to have
money that costs 100 cents to get it,
and that always has 100 cents value to
it and is backed by the entire wealth
of the nation; treating all classes alike;
Equal rights to all and special priv
Hedges to none"
1t is astonishing how little ma
chinary is necessary to putt opera
tion the Populist money plan. Con-
gress to authorize the issue Of $4,000
100000 for the purpose of establishing
a monetary system for the use of the
people, authorizing loans, discounts
and exchanges to be made through
the money order system, or any prop
erty that is good security at the rate
of per cent for loans of less time
than one year and per cent rate for
one year and over. Appoint three
citizens at each money order Office as
a credit discount and loan board, to
meet at country offices monthly and
under proper rules pass upon all ap-
plications for loans and discount In
larger towns it might be necessary to
meet every two weeks, and in the
large cities it might take several
boards and daily meetings. But the
boards would not have any personal
interest in the loans, all element of
personal profit being eliminated. The
postmaster would be cashier or pay
master of the government, and when
he did not have the money on hand,
would check on some designated sub
treasury or postoffice, as the pension
agents do now, making a record of
all transactions, as he does of money
orders now; and also abstracting the
property pledged in books for that
purpose. The result Of these arrange
ments would be the utter destruction
of usury and the impossibility Of
money panics, because the government
that can not fail or suspend, and
would always be ready to assist the
people, by supplying them with money
upon their property at any time they
need it.
For instance, A desires to borrow
500 for over one year and to secure it
on forty acres of land. He makes his
application to the board, furnishing
abstract of title. He then makes
trust deed and note to the United
States, drawing interest at the rate of
3 per cent per annum, the P. NJ. act
ing as trustee.
Bwants 500 for six months on per-
sonal property and offers his note with
indorsers as additional security. The
board approves the loan. He makes
trust deed to P. NJ. and receives the
money.
c wants to discount a note he holds
for $50, which is well secured. The
board examines and approves of the
discount, and he receives S4S.
D wants exchange on Boston for
$500. lie pays P. NJ. $500 and sl.25
for exchange, and receives money
order on P. NJ. at Boston for $500.
E wants exchange on London for
$1,000. He pays the P. NJ, 81, 900 and
s. for exchange, and receives money
order on London ?. 0. as is the case
with smaller orders now.
T wants S25 on cotton, corn or
wheat. He brings warehouse receipt
and endorses it to P NJ. as trustee for
United States and receives the money.
E deposits 81 900 and receives check
book with stub checks for that
amount.
By examing the report of the comp
troller of currency for United States
for 1898 l find there were 3,75S ma
tional and 5,6S5 private banks, with
capital stock of Sl,OS7 SIG, 913. The
record does not show how much was
paid up. They had s5l5, 7OS, 1874 profits
passed to the surplus fund and the
private banks had S7S,62O,451 I'M
divided profits. Their business
through the clearinghouse amounted
to SIS, $50, $50, ASS.
1t is safe to estimate business for the
first year:
RECEIPTS.
Loans on real estate, s2,Ol0OOO,OO0 az
3per cent. ....... ........ S60U00 900
Loans on personal property and dis
counts, Sl,5OOOOO 900 at 4 per cent. 6O,OOOOO)
Exchange on 1900, 10000 at an av-
erlge Of 4 OF per cent.......... 10000 900
Total revenue. .................. slSlOOOOOI
EXPENSES
For the service Of 5000 men at TO-
0OO county and town postoficeS as
members Of boards at SIPS per