The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1894-03-28

According to the report OF the Secce.
tary Of the Treasury, We have nine
different kinds of money issued by the
governmen: amounting to over 81 OOO,
oOc, 900. According to the construction
of the Administration, these nine va
rieties of money can be presented tc
the Treasury of the United States and
gold demanded. How absurd! 1t is az
absolute impossibility to redeem 81.
OO0.000,0QO with less than SlOO,OOO,OOO
AS stated above, since money is only
tool and convenience for the people
why should one kind of money be re-
deemed with another?'
sBuu," said. Colonel, people think
you Utopian. What nation or city
ever prospered on the idea of irredeem'
able money!"
"For 800 years." said the Colonel
Venice maintained financial system
the best the world has ever known, up
on an irredeemable paper money. Her
paper issues commanded a premium
over gold. Although only little island
with only 10000 people. she was desig.
mated as the mistress of the world com
mercially. If that could be done cen.
turies ago by a government whose pop
ulation was not so great as the capital
of this nation and as money has be-
come more essential than ever before
in the history Of the world. who will
question that our government, with
100000 Of people, cannot maintain
financial policy based upon the doctrin-
es laid down? It is ridiculous to at
tempt to transact the business of this
country upon a gold basis when there
is not enough gold in the world to do
the business of New York City alone
if it were done upon relatively cash
basis. Cities do not need as much
money per capita as the rural districts.
because the banks are sufficient IN
number tor the convenience OF busl-
ness and checks are used as money.
Among the farming and producing
classes these conditions do not exist.
They need actual money with which to
make their exchanges. The withhold
ing from the people of suficiency of
money for the purpose of making theiI
exchanges by the government is as
wicked and cruel as for parent to re-
fuse to give sufficient food to nourish
child. A suficiency of money to the
body polite is as essential as healthy
blood TO the human system. No gov.
eroment has ayec tried to find out how
much money these people need, and
why should money be limited?"
II would inquire, Col. R'ckey, if this
plan you suggest is original With you ?"
"No sir; attention was 6rst called to
it by bill introduced in the Senate by
the late Senator Stanford, OF Califor-
MIA. I was so much impressed with it,
knowing that it would haye a benei
ci-nt effect upon the people Of the
United States, if adopted, that l was
lee to investigated The more I think
of it the more I am convinced that it
is the solution of government.
II asked Senator STAFFORD how he
came to adopt this idea, as he was a
very rich man, and the general impres
slon was that it u Nould make money so
cheap that Its potency would be lost.
His reply was that while be was living
III Sacramento there was numberless
Or. j cts aud enterprises be would like
10 engage IN, and ne thought pcofta.
bly, but he had nor the money nor
CO.. Id he OBTAIN II. He then began to
inquire why money was so limited;
and after m4ny years of careful thought
and study he evolved what is known as
the land loan plan,' that Is for the
government to loan money directly to
the people upon their lands. Before
retiring. on the night be died, be was
reading a book upon finance and he re-
oucsted his secretary to place two other
books upon the same subject on his ia
ble where be could consult hem in the
His last thought upon earth
there ore, we're upon this subject, and
be believed that the sdopGion of his
ides would be the greatest blessing
that could be conferred upon the coun-
try"
"What IS your opinion of Senator
Stanford?"
at has been my privilege and my
pleasure to meet some Of tie great men
of the dav. 10 my mind Senator STAN
ford was truly great. He was deeply
concerned iQ the welfare of his country
and was true philanthropist. Gould
he have been spared few years I be-
lie7e he would have seen his last noble
effort of his life enacted as a law. One
of the principal obstacles in placing
this matter before the peoples that the
metropolitan press refuses to discuss
1t, and the politician never takes an
advanced position. content to follow in
order to hold his Job, but the people.
from whom all great reforms emanate,
take it up and discuss 1t until 1t is
thoroughly understood. when its adop
ton will be certain to follow.
'I will briefly enumerate the benefits
to be derived from the passage of such
a bill:
81. The government to loan upon
cultivated lands, at one-half of their
assessed value, at the rate Of 2 per cent.
per annum. Thereby providing good
money at a low rate of interest.
's2. The money derived by the gov
ernment from the loan of its credit to
the people, assuming that S20,0O0,OOO,-
600 would be borrowed, would pay all
the expenses of the government, there
by relieving the people of 1000, ,OCO, 900
which they are now annually paying IN
the way of Federal taxation.
''3. The saving to the people in in
terest would amount to S1,0OO,OOO,OOO
or more.
"4. 1t would restore to the lands
something of the value they possessed
before this last 30 years of iniquitous
legislation was placed upon our statute
books
IS It would compel the men who
possess colossal fortunes, which have
been made possible by Hesitation friend.
ly to them, to invest their mosey in
tile development of labor.
"Unless bill similar to this is pas
sed and that quickly, in my opinion,
bankruptcy is cetrtain TO follow.
W. G. MACH.
Shot.
JACKSONVILLE, March ia special
to Toe Times. Z uioo from Fernaudlna,
Fla, saws: This morning Chief OF Po
lice Livingston shot and killed Jack
HipparS, Jr., and mortally wounded
Jack Hlppart, Sr. The Hipparts are
O yrsro n