The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1894-03-29

ing with it tho Endorsement Of the peo.
ple of the United States, in my opinion
this money would be good for every
purpose FOR which money can be used.
The 2, per cent. which the government
would receive for the use of this mon
ey from the borrower would pay all the
expense Of the government, thereby
taking this enormous tax Of 81 ,00000O,-
600 "a year off the people at once, besides
reducing the interest tax several hun,
dred millions year."
"But this money which you propose
to issue on lands would be irredeema.
BILE. would 1t not2"
Certainly. Why should money be
redeemable2 We should have but one
kind Of money in this country. We
now have less than $1OO00O,O 900 of gold
In the Treasury and there are: $2,O0O,-
100000 outstanding to be redeemed.
According to the report Of the Secre-
tary Of the Treasury, we have nine
different kinds Of money issued by the
governments ,aW ounting to over SO ,00O,-
100000. According to the construction
of the Administration, these nine va
rieties of money can be presented to
the Treasury Of the United States and
gold demanded. How absurd! 1t Is an
absolute impossibility to redeem $2.-
AS stated above, since money is only
tool and a convenience for the people,
why should one kind of money be re.
deemed with another?"
"But," l said, "Colonel, people think
you Utopian. What nation or city
ever prospered on the idea of irredeem-
able money? ?'
"For 600 years." said the Colonel
"Venice maintained financial syatem,
the best tho world has ever known, up
on an irredeemable paper money. Her
paper issues commanded premium
over gold. Although only little island
with only $50 900 people, she was desig-
mated as the mistress Of the world COM
mercially. If that could be done cen
turies ago by 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 q
financial policy based upon the doctrin-
es laid down? 1t 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 1t were done upon relatively cash
money per capita as the rural districts,
| because the banks are sufficient In
number tor the convenience Of busi-
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 a suficiency of
| money for the purpose Of making their
exchanges by the government is as
wicked and cruel as for a parent to re-
fuse to give sufficient food to nourIsh
child. A sufliciency Of money to the
body polite Is as essential as healthy
blood to the human system. No gov
eminent has ever tried to find out how
much money these people need, and
why should money be limited?"
81 would inquire, Col. hickey, if this
plan you suggest is original with you 2"
"No sir; attention was tirst called to
it by a bill introduced In the Senate by
the late Senator Stanford, OF Calif6r-
MIA. l was so much impressed with 1t,
knowing that it would haYe a benefi
Client effect upon the people of the
led to investigateit The more l think
of it the more am convinced that it
Is the solution Of government.
81 asked Senator Stanford how he
came to. adopt this idea, as he was a
very rich man, and the general impres.
sion was that it would make money so
cheap that It's potency would be lost.
His reply was that while he was living
in Sacramento there was numberless
projects and enterprises he would like
to engage IN, and he thought profita
bly,, but he had not the money nor
cold he obtain IT. He then began to
inquire why money was so limited
and after many years Of careful thought
and study he evolved what Is known as
the land loan plan, that is for the
the people upon their lands Before
retiring, on the night ho died, he was
reading book upon finance and he re-
qucsted his secretary to place two other
books upon the same subject on his ta
ble where he could consult them in the
morning. His last thought upon earth
therei ore, were upon this subject, and
he believed that the adoption Of his
idea would DO the greatest blessing
that could be conferred upon the coun,
try"
Stanford ?"
cit has been my privilege and my
pleasure to meet some of the great men
VI Cno udv. ~ Ill lulllu SeuaGOr SCan
ford was truly great. He was deeply
concerned In the welfare of his country
and was a true philanthropist. Could
he have been spared few years I be-
lieVe.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 1t up and discuss 1T until 1t Is
thoroughly y understood. when its adop-
ZION will be certain to follow.
II Will briefly enumerate the benefits
q bill:
~: 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.
"2. The money derived by the GOV.
ernment from the loan OF ia credit :,