Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1894-06-27

Money PanIcs.
In Colorado the average cost to the
mine owners is % cents for a dollars
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
l00 cents to mine the metal they con-
tain. On the other hand the govern
ments greenback paper dollar is an
honest dollar, because it takes
100 cents in service, supplies or prop
erty to get a greenback dollar. Cd
The Peoples party plan is to have
money that costs 100 cents to get it,
and that always has loo 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
chinery is necessary to put into opera
tion the Populist money plan. Con-
gress to authorize the issue of $4,000
900, 900 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 elimina ted. 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 postofiice, 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, 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. lie 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.
wants 500 for six months on per
sonal property and offers his note with
indorsers as additional security. The
board approves the loan. lie makes
trust deed to r. NJ. and receives the
money.
wants to discount note he holds
for $50, which is we'll secured. The
board examines and approves of the
discount, and he receives S4S.
ID wants exchange on Boston for
$780, lie pays p. NJ. $500 and 81. 25
for exchange, and receives money
order on 2. NJ. at Boston for $780,
L wants exchange on London for
$1,000. He pays the p. NJ. 81, 200 and
IS for exchange, and receives money
order on London p. o. as is the case
with smaller orders now.
+ wants S25 on cotton, corn or
wheat. He brings warehouse recent
and endorses it to 2. NJ. as trustee for
United States and receives the money!.
4 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 1893 find there were 3,75s ma
tional and 5,0s5 private banks, with
capital stock of Sl,Os7, SIG, 913. The
record does not show how much was
paid up. They had S5l5, EOS, 294 profits
passed to the surplus fund and the
private banks had S7s, $50, 451 un-
divided profits. Their business
through the clearinghouse amounted
to s5s, $50, Csc, ASS.
1t is safe to estimate business for the
first year:
Loans on real estate, 100000, 900 az
3per cent. 5000. ......... 800 100 900
Loans on personal property and dis
counts. 81 800 900, 900 ut per cent 5000 OO1
Exchange on $4,000. 10000 at an av-
erage OF 4 OF per cent......... 10000 900
Total revenue. .................. slSO,OOOOOJ
EXPENSES
For the service OF 80 OOJ men at To-
600 county and town postonices as
members OF boards at SIPS per
annum 80. '.-.'. ...... ..... S3,750.0JJ
For The services OF 1900 men as
members of boards in cities at
S,2JO per annum :.....,... ...... 4sso.ooo
100 men, heads of departments. at
5000 each. 80. .............. 800 100
1000 clerks az tl,SW each 80. 10000
4Co examiners NJ $4,000 each - sOOO0
Increase In salaries OF 5000 post
masters OF % 70 each. .... 240o no
BOOKS ana stationery ..... .. 6oO0O0J
incidental .'.t'''. ...''''...'"-.. 7s5J, COZ
fetal sNpsnsas "a ;. = -